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Europe Offshore Wind Cable Market Share

Report ID: GMI6626
Published Date: Sep 2023
Report Format: PDF

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Europe Offshore Wind Cable Market Share

Key manufacturers operating in the Europe offshore wind cable market are:

NEXANS
Prysmian Group
NKT A/S
ZTT
LS Cable & System Ltd
Sumitomo Electric Industries, Ltd
FURUKAWA ELECTRIC CO.
Fujikura Ltd.
Hellenic Cables
HENGTONG GROUP CO.
LEONI
JDR Cable Systems Ltd
Seaway7
Hydro GroupTKF

These participants are actively involved in strategic joint ventures & contracts to capture market share.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of offshore wind cable in Europe exceeded USD 1.27 billion in 2023 and is expected to grow more than USD 24.49 billion by 2032, backed by the strong technological prospects for offshore wind farms, coupled with growing emphasis on the use of sustainable energy sources.

Copper segment is set to grow at a CAGR of more than 36.9% through 2032, owing to continuous efforts for cost reduction in all aspects of the supply chain, including the manufacturing and installation of offshore wind cables along with efficient grid integration and interconnection infrastructure.

UK offshore wind cable industry will register 32.5% growth rate through 2032, as the country has been setting targets and providing financial support for the development of offshore wind projects.

LS Cable & System Ltd., Sumitomo Electric Industries, Ltd., FURUKAWA ELECTRIC CO., LTD, Fujikura Ltd., Hellenic Cables, HENGTONG GROUP CO., LTD., LEONI, JDR Cable Systems Ltd., Seaway7, Hydro Group, and TKF among others.