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Europe Inter Array Offshore Wind Cable Market Size

Report ID: GMI9665 Published Date: May 2024Report Format: PDF
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Europe Inter Array Offshore Wind Cable Market Size

Europe Inter Array Offshore Wind Cable Market was valued at USD 24.89 million in 2023 and is anticipated to grow at a CAGR of 57% during 2024 and 2032. Inter array cables, in the context of offshore wind farms, refer to the electrical cables that connect individual wind turbines within a wind farm to each other and to an offshore substation. They transmit the electricity generated by each individual wind turbine to a central point within the offshore wind farm, typically an offshore substation.

 

Europe Inter Array Offshore Wind Cable Market

Innovations in cable design, materials, and manufacturing processes have improved the efficiency, durability, and performance of inter-array cables. Higher voltage ratings, enhanced insulation materials, and better cable protection systems have enabled the development of more reliable and cost-effective solutions will enhance the industry demand. Introduction of strict government mandates, norms and plans to address the rising greenhouse gas emissions will stimulate the industry dynamics.

 

Technological advancements in cable design and manufacturing have made it possible to produce high voltage inter-array cables that can withstand the harsh offshore environment, including corrosive seawater, strong currents, and variable weather conditions which will positively impact the business statistics. Furthermore, the wind farms move farther offshore into deeper waters, the need for high voltage inter-array cables becomes essential to efficiently transmit electricity from the turbines to the onshore grid will boost the product adoption.

Author: Ankit Gupta, Srishti Agarwal
Frequently Asked Question(FAQ) :

Why is the demand for copper inter array offshore wind cables growing in Europe?+

The copper segment in the Europe inter array offshore wind cable market will witness over 53.5% CAGR through 2032 driven by technological improvements, sustainability goals, strategic industry partnerships, and substantial investments.

Why is the use of inter array offshore wind cables growing in Germany?+

Germany inter array offshore wind cable industry will generate USD 407 million by 2032, attributed to the growing support for renewable energy coupled with initiatives comprising the Offshore Wind Accelerator program.

What is the size of the Europe inter array offshore wind cable market?+

The market size of Europe inter array offshore wind cable was reached USD 24.89 million in 2023 and is anticipated to grow at 57% CAGR from 2024 to 2032, owing to the increasing focus towards clean energy.

Mention the key players involved in Europe inter array offshore wind cable industry?+

FURUKAWA ELECTRIC CO., LTD, Hydro Group, Hellenic Cables, JDR Cable Systems Ltd., LS Cable & System Ltd, LEONI, NEXANS, NKT A/S, NSW Technology, Prysmian Group, Seaway7, TFK Group, and ZTT.

Europe Inter Array Offshore Wind Cable Market Scope

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