Inter Array Offshore Wind Cable Market Analysis

Inter Array Offshore Wind Cable Market Analysis

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Aluminum Inter Array Offshore Wind Cable market will grow more at a CAGR of more than 71% by 2032. Ambitious offshore wind targets have established regulatory frameworks that incentivize the use of higher voltage cables to optimize the performance of offshore wind farms, which will strengthen the market growth. In addition, as offshore wind turbines increase in size and capacity, higher voltage cables become necessary to accommodate the larger power output, will foster the business scenario.

Based on voltage rating, the market is segmented into 11kV-33kV and 34kV-66kV. The 11kV-33kV inter array offshore wind cable is projected to grow over USD 727 million by 2032 on the account of higher capacity, which experience lower electrical losses during transmission which results in more efficient power transmission over longer distances within the wind farm, reducing the need for additional substations and associated infrastructure. Further, Government policies and regulations aimed at promoting renewable energy and reducing carbon emissions have supported the adoption of 33 kV inter-array cables, thereby driving the business scenario.

Asia Pacific inter array offshore wind cable market is projected to grow over USD 622 million by 2032. Set ambitious renewable energy targets to reduce carbon emissions and mitigate climate change along with significant offshore wind resources along its coastlines, particularly in countries like China, Japan, South Korea, Taiwan, and Vietnam among others will influence the product adoption. Further, governments and industry stakeholders are investing in the development of port infrastructure, manufacturing facilities, and supply chain capabilities to support the offshore wind sector in the region.