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Inter Array Offshore Wind Cable Market Share

Report ID: GMI8919
Published Date: Apr 2024
Report Format: PDF

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Inter Array Offshore Wind Cable Market Share

Inter Array Offshore Wind Cable Company Market Share

Regional cooperation and knowledge sharing initiatives facilitate the exchange of best practices, expertise, and technology among countries in the Asia Pacific region. Collaborative efforts, such as joint research projects, capacity building programs, and multilateral agreements, support the development and deployment of offshore wind cables in the region. Governments and industry stakeholders are investing in the development of port infrastructure, manufacturing facilities, and supply chain capabilities to support the offshore wind sector. Further, this infrastructure development enhances the capacity to manufacture, deploy, and maintain offshore wind cables locally, thereby reducing costs and improving project economics.

Inter Array Offshore Wind Cable Market Companies

Key market players operating across the Inter Array offshore wind cable industry include:

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

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

Inter array offshore wind cable market size was USD 585.25 million in 2023 and is expected to register 41.4% CAGR from 2024-2032 owing to technological advancements in cables helping reduce engineering complexity, improve project efficiency, and lower costs, worldwide.

The 11kV-33kV voltage segment is expected to record over USD 727 million by 2032 due to its higher capacity, which experiences lower electrical losses during transmission resulting in more efficient power transmission over longer distances.

Asia Pacific inter array offshore wind cable industry is expected to exceed USD 622 million by 2032 due to ambitious renewable energy targets to reduce carbon emissions and mitigate climate change along with significant offshore wind resources in the region.

ZTT, LS Cable & System Ltd., Sumitomo Electric Industries, Ltd., FURUKAWA ELECTRIC CO., LTD, TFK Group, Hellenic Cables, NSW Technology, LEONI, JDR Cable Systems Ltd., Seaway7, Orient Cable, and Hydro Group., are some of the major inter array offshore wind cable companies worldwide.