Submarine Cable System Industry

The report "Submarine Cable Systems Market by Cable Type (Communication Cable, Power Cable), Component (Dry Plant Product, Wet Plant Product), Insulation (Cross-linked Polyethylene, Oil-Impregnated Paper) and Type (Single Core, Multicore) - Global Forecast to 2030" The global submarine cable systems market is anticipated to grow from USD 19.95 billion in 2025 to USD 33.75 billion in 2030, at a compound annual growth rate (CAGR) of 11.1%. Most global internet traffic depends on submarine cables, and almost everyone relies on the internet for day-to-day activities. The world is connected through the Internet; thus, global traffic is increasing every other day. About half of the global internet traffic comes from Asia Pacific, which, in turn, is driving the demand for submarine communication cables. Additionally, the increasing global demand for renewable energy, particularly offshore wind farms, is a key driver of the submarine cable system market, necessitating extensive power cable networks for efficient energy transmission.

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Single Core Segment to Hold Largest Market Share in 2025

Single core submarine power cables constitute multiconductor systems consisting of conductors, insulations, and lead or aluminum sheaths with a single propagation mode to prevent moisture ingress in them. Single core features a higher bandwidth than multicore cables and, hence, a high data transmission rate. These cables are suitable for covering longer lengths as they experience lower reverse currents than multicore cables. The high value of the segment is also attributed to the high cost of installation, connectors, and systems.

High-Voltage Segment to Exhibit Highest CAGR Between 2025 and 2030

Submarine power cables with a voltage above 33 kV are considered high-voltage cables. These cables enable the integration of renewable energy into the existing grid and the extension of the system to single points, such as offshore wind farms or oil & gas plants. High-voltage submarine power cables comprise conductors and insulation layers. These are usually 3-core armored cables with copper or aluminum conductors. XLPE is the most widely used insulation for high-voltage submarine power cables owing to its higher current rating than polyvinyl chloride (PVC). These cables enable efficient power transmission owing to their low transmission losses. The increasing requirement for interconnecting lands and the growing demand for power generation from offshore plants using renewable sources have led to the growth of the global high-voltage submarine power cable market.

Europe to Capture Largest Market Share in 2025

Europe is anticipated to dominate a significant portion of the submarine power cables market in 2025. With the European Union (EU) targeting a minimum renewable energy in the overall energy mix by 2030, the region is transitioning from fossil fuels to renewable sources, such as hydropower, solar energy, wind power, and biofuels, driving substantial demand for submarine cable systems. Furthermore, Europe hosts numerous offshore oil & gas projects, notably in the UK, Norway, the Netherlands, Italy, and Denmark. These projects, including Ekofisk (Norway), Montrose (UK), Forties (UK), Eldfisk (Norway), Dan (Denmark), Brent (Norway), Frigg (UK), Beryl (UK), Sleipner (Norway), and Statford (Norway), are actively engaged in exploration and production activities, attracting fresh investments in the offshore oil & gas sector and subsequently fueling demand for submarine power cables in the region. Germany and the UK are poised for rapid growth during the forecast period.

Major companies operating in the submarine cable systems market are Alcatel Submarine Networks (France), Prysmian S.p.A (Italy), SubCom, LLC  (US), NEC Corporation (Japan), and Nexans (France).

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