Offshore Wind Cable Market | Covid-19 Impact Analysis

Offshore Wind Cable Market Insights

Offshore Wind Cable market is likely to witness an exponential CAGR of 19.3% during the forecast period. Stringent regulations regarding emissions from conventional source of energy coupled with growing concerns regarding global warming is the key driving factor for the surge in demand for the offshore wind cable market during the next five years. 

Market Share Analysis

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Offshore Wind Cable Market Share: By Technology Type

Based on the technology type, the market is segmented as inter–array and export. The inter-array segment is expected to remain dominant in the market during the forecast period, mainly driven by rising number of wind turbine installation under deep-water condition.

Offshore Wind Cable Market Share: By Conductor Material Type

Based on the conductor material type, the offshore wind cable market is segmented as aluminum and copper. Copper is projected to remain the dominant material in the market during the forecast period, owing to various benefits offered by the material, such as high specific weight, excellent flexibility, high corrosion & weather resistance and high reliability.

Offshore Wind Cable Market Share: By Region

In terms of regions, Europe is likely to maintain its dominance in the market during the forecast period, with Germany, the UK being the key growth engines of the region’s market. Presence of large number of offshore facilities along with their effective utilization and favorable energy policy framework by the EU is the major factor behind the dominance of the region in the market.

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Some of the major offshore wind cable manufacturers are-

• Nexans S.A.
• Prysmian S.p.A.
• NKT A/S
• LS Cable & System, Ltd.
• Sumitomo Electric Industries, Ltd.
• Furukawa Electric Co., Ltd.
• Fujikura Limited
• Hellenic Cables Group
• Ningbo Orient Wires & Cables Co., Ltd
• Hydro Group plc.

Market Scope & Segmentation

Offshore wind cable is that cable which is used to transfer electricity generated from the wind turbines installed in water bodies, such as sea and ocean to an onshore substation.

Offshore wind cables must be constructed properly and firmly anchored in order to avoid any damage from trawlers and anchors. Offshore wind cables must be capable to withstand hydrodynamic loading.   

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The offshore wind cable market is segmented into the following categories. 

Offshore Wind Cable Market Size, Share, & Forecast, by Technology Type:

• Inter-array
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (By Technology Type Analysis 11kV to 33kV and 34kV to 66kV)
• Export
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (By Technology Type Analysis: 132 kV & Less and 132 kV & Above)

Offshore Wind Cable Market Size, Share, & Forecast, by Conductor Material Type:

• Aluminum (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Copper (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Offshore Wind Cable Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the technology types by conductor material type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].