Posted 10/2/2023, 9:00:00 AM
Offshore Wind Expansion Driving Growth in Submarine Power Cable Market Worth $22.3 Billion by 2028
- Submarine power cables market worth $22.3 billion by 2028, growing at 11.5% CAGR
- Offshore wind power generation largest end use segment due to growth in offshore wind farms
- North America to be fastest growing region driven by investments in offshore wind
- Multi core cables growing due to need for data transmission in offshore renewable projects
- Key players include Prysmian, Sumitomo Electric, LS Cable & System, NKT, and Nexans
