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Export Offshore Wind Cable Market Trends

Report ID: GMI9063
Published Date: Apr 2024
Report Format: PDF

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Export Offshore Wind Cable Market Trends

Efficient sustainable power transmission combined with effective distribution of electricity will influence the product adoption. Ongoing advancements in cable technology, including materials, design, and manufacturing processes will sway the business demand.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of export offshore wind cable was reached USD 2.2 billion in 2023 and is anticipated to grow at 32.2% CAGR from 2024 to 2032, owing to the increasing emphasis on implementation of renewable energy sources.

Copper export offshore wind cable market recorded 98% revenue share in 2023, driven by the increasing demand for cables that can efficiently transmit large amounts of electricity over long distances with minimal power losses.

Europe export offshore wind cable market is projected to surpass USD 13 billion by 2032, attributed to robust government spendings to accelerate wind development combined with the introduction of new technologies by major players.

Hellenic Cables, HENGTONG GROUP CO., LTD., Hydro Group, Jan De Nul, JDR Cable Systems Ltd., LS Cable & System Ltd., NEXANS, Ningbo Orient Wires &Cables Co., NKT A/S, Prysmian Group, Seaway7, Sumitomo Electric Industries, Ltd. and ZTT