Global Submarine Electricity Transmission Systems Market - Growth, Trends, and Forecast (2018 - 2023)

  • ID: 4515011
  • Report
  • Region: Global
  • 111 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • ABB
  • DONG Energy
  • J-Power Systems
  • LS Cable & System
  • Nexans
  • NKT cables
  • MORE
Owing to the development of overseas power transmission networks, the global submarine electricity transmission systems (SETS) market is likely to grow over the forecast period. The development of new power generation infrastructure results in an increased requirement of power evacuation systems. Submarine power transmission has been in use for over a century. Earlier, it was widely used for isolated offshore facilities, lighthouses, etc. However, nowadays, the usage has become widespread, covering offshore wind, longer distance power transmission, network interconnections, increased number of islands connected to mainland grid, etc. Moreover, the power trading between countries is likely to increase, which requires the development of electricity transmission system between the concerned countries. The submarine transmission of DC electricity can be economically more beneficial, in comparison with overhead transmission, as break-even distance is 50 kilometers. Hence, the long distance power transmission via submarine transmission infrastructure results in economies of scale, which is a considerable boost for its adoption.

Economic Benefits Driving the Market

Submarine power transmissions can be economically more beneficial in comparison with overhead transmission, on account of reduction in total cost of ownership of the system. The power surplus countries are looking for opportunities to sell electricity to nations that are power starved. The power trading between countries results in an optimal usage of power generation facilities, which requires the availability of the most appropriate systems. The submarine power transmission systems can be very handy in power transportation between nations, which is a big boost for its adoption.

North America Accounts for the Largest Share

Owing to the robust development of offshore power and oil & gas projects, the North American region accounts for the largest share in the global SETS market. The power transmission via submarine cable to offshore oil & gas platform can eliminate the requirement for onsite power generation. The high electricity demand and development of new transmission infrastructure, including submarine electricity transmission system, is likely to proliferate over the forecast period, owing to surge in demand of electricity.

The United States to Record the Highest Growth

Owing to the widespread development of offshore projects, the United States is anticipated to record the highest growth in the market studied. The development of offshore wind energy projects in the United States is expected to be connected with grid network on the mainland, through submarine electricity transmission system. Moreover, governments and power suppliers are supporting renewable energy sources, such as off-shore wind power.

Key Developments in the Market
  • June 2018: Prysmian Group won a contract worth more than EUR 150 million, by the Filipino grid operating company NGCP (National Grid Corporation of the Philippines) for the design, supply, installation, and commissioning of two submarine power cable connections between the islands of Cebu and Negros in the Philippines.
  • July 2017: LS Cable & System announced that it has won a contract worth KRW 62 billion, to export cables from Singapore PowerGrid (SPPG).
The major players include: ABB, J-Power Systems, LS Cable & System, Nexans, NKT cables, Norddeutsche Seekabelwerke (NSW), Prysmian, Viscas, Jiangsu Zhongtian Technology Co. Ltd (ZTT), Korea Electric Power Corporation (KEPCO), Vattenfall, DONG Energy, and China Light & Power Company Syndicate (CLP), amongst others.

Reasons to Purchase this Report
  • Current and future global submarine electricity transmission system market outlook in the developed and emerging markets.
  • Analyzing various perspectives of the market, with the help of Porter’s five forces analysis.
  • The segment that is expected to dominate the market.
  • The regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments and strategies employed by the major market players.
  • 3 months analyst support along with the Market Estimate sheet (in excel).
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FEATURED COMPANIES

  • ABB
  • DONG Energy
  • J-Power Systems
  • LS Cable & System
  • Nexans
  • NKT cables
  • MORE
1. Executive Summary

2. Research Methodology

3. Market Overview
3.1 Introduction
3.2 Market Size and Demand Forecast until 2023
3.3 Recent Trends and Developments
3.4 Key Projects
3.5.1 Existing Projects
3.5.2 Under Construction/Upcoming Projects

4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities

5. Supply Chain Analysis

6. Industry Attractiveness - Porter’s Five Forces Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitutes
6.5 Competitive Rivalry

7. Market Segmentation and Analysis (Overview, Market Size, and Demand Forecast until 2023)
7.1 By Cable Type
7.1.1 Mass-impregnated Cables
7.1.2 Self-contained Fluid-filled Cables
7.1.3 Extruded Insulation Cables

8. Regional Market Analysis (Overview, Market Size, and Demand Forecast until 2023)
8.1 North America
8.2 Europe
8.3 Asia-Pacific
8.4 South America
8.5 Middle East & Africa

9. Key Company Analysis* (Overview, Products & Services, Financials**, Recent Developments, and Analyst View)
9.1 ABB
9.2 J-Power Systems
9.3 LS Cable & System
9.4 Nexans
9.5 NKT Cables
9.6 Norddeutsche Seekabelwerke (NSW)
9.7 Prysmian
9.8 VISCAS
9.9 Jiangsu Zhongtian Technology Co. Ltd (ZTT)
9.10 Korea Electric Power Corporation (KEPCO)
9.11 Vattenfall
9.12 DONG Energy
9.13 China Light & Power Company Syndicate (CLP)

10. Competitive Landscape
10.1 Mergers & Acquisitions
10.2 Joint Ventures, Collaborations, and Agreements
10.3 Strategies Adopted by Leading Players

11. Appendix
11.1 Contact Us
11.2 Disclaimer
*List not Exhaustive
**Subject to availability on the public domain
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  • ABB
  • J-Power Systems
  • LS Cable & System
  • Nexans
  • NKT cables
  • Norddeutsche Seekabelwerke (NSW)
  • Prysmian
  • Viscas
  • Jiangsu Zhongtian Technology Co. Ltd (ZTT)
  • Korea Electric Power Corporation (KEPCO)
  • Vattenfall
  • DONG Energy
  • China Light & Power Company Syndicate (CLP)
Note: Product cover images may vary from those shown
5 of 4
Note: Product cover images may vary from those shown
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