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Inter Array Offshore Wind Cable Market Trends

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

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Inter Array Offshore Wind Cable Market Trends

Growing focus on minimizing the environmental impact of cable installation activities, such as reducing seabed disturbance, avoiding sensitive habitats, and mitigating the risks to marine wildlife will drive the market landscape. Growing economies of scale help reduce the time and resources required for engineering and procurement by standardizing cable designs & components. Additionally, higher capacity and voltage ratings of the cables can reduce transmission losses and increase the efficiency of power transmission within the wind farm, which will drive the industry scenario.

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.