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Asia Pacific Export Offshore Wind Cable Market Trends

Report ID: GMI9532
Published Date: May 2024
Report Format: PDF

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Asia Pacific Export Offshore Wind Cable Market Trends

Strategic geographic positioning of the region is encouraging the key players to investment in offshore wind projects thereby accelerating the industry statistics. Governments in the region are facing challenges to meet the growing energy demand while reducing reliance on fossil fuels, creating opportunities for export wind business as a viable solution to diversify the energy mix and meet sustainable development goals. Rising infrastructure development, including the expansion of port facilities and offshore infrastructure to support economic growth, enhance maritime trade, and strengthen energy security are some additional factors fostering the business landscape.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

Asia Pacific market for export offshore wind cable was reached USD 1.03 billion in 2023 and is anticipated to grow at 26.2% CAGR up to 2032, owing to the growing offshore wind capacity.

The copper segment in the Asia Pacific export offshore wind cable market will grow at 25.5% CAGR from 2024 to 2032 due to high electrical conductivity coupled with exceptional mechanical strength and durability.

China export offshore wind cable market will exceed USD 4.3 billion by 2032, attributed to rising government support towards promoting the development of offshore wind energy.

HENGTONG GROUP CO., LTD., Hellenic Cables, Jan De Nul, LS Cable & System Ltd., NKT A/S, Ørsted A/S, Seaway7, Vattenfall, Van Oord, and ZTT.