High Voltage Offshore Cables Market Report 2025 (Global Edition)

Global High Voltage Offshore Cables Market Report 2024 Market Size Split by Application (Offshore Wind Turbines, Oil and Gas, Other), by Conductor Type (Copper, Aluminum), by Voltage Level (50KV-110KV...

High Voltage Offshore Cables Market Report Description

We have various report editions of High Voltage Offshore Cables Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

High Voltage Offshore Cables Market Insights Video

Competitive Landscape of the High Voltage Offshore Cables Market

The competitive landscape of the High Voltage Offshore Cables Market is characterized by the presence of several key players competing to gain market share. These players are involved in the design, manufacturing, and supply of high voltage cables for offshore wind farms and power plants.

February 2021: Nexans, a leading cable and wire manufacturer, has been awarded a significant frame contract for the supply of cables, accessories, and installation services for an underground grid connection project by RTE. This new contract strengthens the existing partnership between Nexans and RTE and marks a significant increase in the volume of cables, accessories, and services to be delivered. (Source: https://www.nexans.fr/en/newsroom/news/details/2021/02/nexans-wins-frame-contract-rte.html) July 2022: Hitachi Energy India Ltd won a major order from Adani Mumbai Electric Infrastructure to provide a direct high-voltage current (HVDC) transmission system linking Kudus to Mumbai. Hitachi Energy also stated that the 80-kilometer, 1000 MW HVDC link is expected to help increase Mumbai’s power supply by almost 50% with minimal losses. (Source: https://www.hitachienergy.com/in/en/news/press-releases/2022/07/hitachi-energy-india-limited-announces-q1fy23-results-significant-order-wins-in-challenging-markets)

Top Companies Market Share in High Voltage Offshore Cables Industry: (In no particular order of Rank)

• Prysmian
• Nexans
• LS Cable & System
• Far East Cable
• Shangshang Cable
• Baosheng Cable
• Southwire
• Jiangnan Cable
• Sumitomo Electric
• NKT Cables
• TF Kable
• Hanhe Cable
• Furukawa Electric
• Okonite
• Condumex
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the High Voltage Offshore Cables Market

Which Region Dominates the High Voltage Offshore Cables Market in 2024?

According to Cognitive Market Research, North America dominates the High Voltage Offshore Cables Market due to several key factors. Firstly, the region has a well-established offshore wind industry, particularly in the United States, where several large-scale offshore wind projects are underway or planned. Secondly, North America boasts advanced technological capabilities and a robust regulatory framework that support the development of high voltage offshore cable infrastructure.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific is experiencing rapid growth in the High Voltage Offshore Cables Market primarily due to several key factors. Firstly, the region is undergoing significant industrialization and urbanization, leading to a surge in energy demand. Secondly, governments across Asia Pacific are increasingly focusing on renewable energy sources to meet this demand, with offshore wind playing a crucial role. Thirdly, the region boasts vast coastlines and favorable wind conditions, making it ideal for offshore wind farm development.

The current report Scope analyzes High Voltage Offshore Cables Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America High Voltage Offshore Cables Market

According to Cognitive Market Research, the global High Voltage Offshore Cables market size was estimated at USD XX Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD XXmillion in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2%from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the High Voltage Offshore Cables market with a market size of USD XX million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. The demand is amplified by the nation's substantial investments in renewable energy and oil and gas exploration.
• The Canada High Voltage Offshore Cables market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Canada's substantial investments in renewable energy and oil and gas exploration to increased usage of High Voltage Offshore Cables.
• The Mexico High Voltage Offshore Cables market is projected to witness growth at a CAGR of 5.7% during the forecast period,with a market size of USD XX million in 2024.

Europe High Voltage Offshore Cables Market

According to Cognitive Market Research, the global High Voltage Offshore Cables market size was estimated at USD XX Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD XXmillion in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5%from 2024 to 2031

• The United Kingdom High Voltage Offshore Cables market had a market share of USD XXmillion in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. In the UK, High Voltage Offshore Cables sales witness an upswing due to the nation's substantial investments in renewable energy, particularly offshore wind farms.
• The France High Voltage Offshore Cables market is projected to witness growth at a CAGR of 4.7% during the forecast period,with a market size of USD XX million in 2024.
• According to Cognitive Market Research, the Germany High Voltage Offshore Cables market size was valued at USD XXmillion in 2024 and is projected to grow at a CAGR of 5.7% during the forecast period. In Germany, High Voltage Offshore Cables sales surged due to the substantial investments in renewable energy, particularly offshore wind farms.
• The Italy High Voltage Offshore Cables market is projected to witness growth at a CAGR of 4.9% during the forecast period,with a market size of USD XX million in 2024.
• The Russia High Voltage Offshore Cables market is projected to witness growth at a CAGR of 4.5% during the forecast period,with a market size of USD XX million in 2024.
• The Spain High Voltage Offshore Cables market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD XX million in 2024
• The LuxembourgHigh Voltage Offshore Cables market is projected to witness growth at a CAGR of 5.6%during the forecast period, with a market size of USD XXmillion in 2024.
• The PortugalHigh Voltage Offshore Cables market is projected to witness growth at a CAGR of 5.3%during the forecast period, with a market size of USD XX million in 2024.
• The GreeceHigh Voltage Offshore Cables market is projected to witness growth at a CAGR of 5.8%during the forecast period, with a market size of USD XXmillion in 2024.
• Rest of Europe'sHigh Voltage Offshore Cables market is projected to witness growth at a CAGR of 4.2%during the forecast period, with a market size of USD XXmillion in 2024.

Asia Pacific High Voltage Offshore Cables Market

According to Cognitive Market Research, the global High Voltage Offshore Cables market size was estimated at USD XXMillion, out of which Asia Pacific held the market ofaround23% of the global revenue with a market size of USD XXmillion in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0%from 2024 to 2031.

• According to Cognitive Market Research, the China High Voltage Offshore Cables market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 8.5% during the forecast period. High Voltage Offshore Cables sales surge in China due to the rapid increase in offshore wind farm projects.
• The Japan High Voltage Offshore Cables market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD XX million in 2024.
• The India High Voltage Offshore Cables market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 10.8% during the forecast period. India's rapid increase in offshore wind farm projects.
• The South Korea High Voltage Offshore Cables market is projected to witness growth at a CAGR of 8.1%during the forecast period, with a market size of USD XX million in 2024.
• The Australia High Voltage Offshore Cables market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD XX million in 2024.
• The South East Asia High Voltage Offshore Cables market is projected to witness growth at a CAGR of 10.0%during the forecast period, with a market size of USD XX million in 2024.
• The Rest of Asia Pacific High Voltage Offshore Cables market is projected to witness growth at a CAGR of 8.8%during the forecast period, with a market size of USD XXmillion in 2024.

South America High Voltage Offshore Cables Market

According to Cognitive Market Research, the the global High Voltage Offshore Cables market size was estimated at USD XX Million out of which Latin America market of more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4%from 2024 to 2031.

• According to Cognitive Market Research, the Brazil High Voltage Offshore Cables market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 7.0%during the forecast period. High Voltage Offshore Cables sales flourish in Brazil due to the increasing investments in renewable energy projects and the exploration of new oil and gas reserves.
• Argentina High Voltage Offshore Cables market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. Argentina's increasing investments in renewable energy projects and the exploration of new oil and gas reserves.
• Colombia High Voltage Offshore Cables market is projected to witness growth at a CAGR of 6.2% during the forecast period with a market size of USD XX million in 2024.
• Peru High Voltage Offshore Cables market is projected to witness growth at a CAGR of 6.6% during the forecast period with a market size of USD XX million in 2024.
• Chile High Voltage Offshore Cables market is projected to witness growth at a CAGR of 6.7% during the forecast period with a market size of USD XX million in 2024.
• The Rest of Latin America High Voltage Offshore Cables market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD XX million in 2024.

Middle East and Africa High Voltage Offshore Cables Market

According to Cognitive Market Research, the global High Voltage Offshore Cables market size was estimated at USD XX Million, out of which the Middle East and Africa held the major market ofaround 2% of the global revenue with a market size of USD XXmillion in 2024 and will grow at a compound annual growth rate (CAGR) of 7.7%from 2024 to 2031.

• The GCC Countries High Voltage Offshore Cables market is projected to witness growth at a CAGR of 7.5% during the forecast period with a market size of USD XX million in 2024. High Voltage Offshore Cables sales flourish due to the surge in renewable energy projects and offshore oil and gas exploration.
• The Egypt High Voltage Offshore Cables market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD XX million in 2024.
• The South Africa High Voltage Offshore Cables market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD XX million in 2024. High Voltage Offshore Cables sales flourish in South Africa due to the surge in renewable energy projects and offshore oil and gas exploration.
• The Turkey High Voltage Offshore Cables market is projected to witness growth at a CAGR of 6.2%during the forecast period,with a market size of USD XX million in 2024.
• The Nigeria High Voltage Offshore Cables market is projected to witness growth at a CAGR of 5.8%during the forecast period, with a market size of USD XX million in 2024.
• The Rest of MEA High Voltage Offshore Cables market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD XX million in 2024.

High Voltage Offshore Cables Market Analysis

High Voltage Offshore Cables Market Application Segment Analysis

According to Cognitive Market Research, The dominant application for high voltage offshore cables is in the offshore wind turbines sector. As the world shifts towards renewable energy sources, offshore wind farms are becoming increasingly popular due to their higher efficiency and lesser impact on land use compared to onshore wind farms. High voltage offshore cables are essential components of these wind farms, as they are used to transmit the electricity generated by the turbines back to the mainland.

The oil and gas sector is experiencing the fastest growth in demand for these cables. Despite the global push towards renewable energy sources, the oil and gas industry remains a crucial part of the energy mix, especially for industries like petrochemicals, transportation, and power generation. High voltage offshore cables are used in oil and gas platforms and subsea installations to transmit power for various operations, including drilling, pumping, and processing. The increasing exploration and production activities in deepwater and ultra-deepwater regions, where traditional power transmission methods are challenging, are driving the demand for high voltage offshore cables in the oil and gas sector.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of High Voltage Offshore Cables Industry. Request a Free Sample PDF!

High Voltage Offshore Cables Market Conductor Type Segment Analysis

According to Cognitive Market Research, Copper conductors represent the dominant category in the high voltage offshore cables market. Copper has long been favored for its superior electrical conductivity and reliability, making it the preferred choice for high voltage transmission applications. Despite being more expensive than aluminum, copper offers lower resistivity, which results in reduced power losses and improved efficiency in transmitting electricity over long distances. Additionally, copper conductors exhibit excellent corrosion resistance, making them ideal for offshore environments where exposure to saltwater and harsh weather conditions is common.

The aluminum conductors are experiencing the fastest growth in demand. Aluminum offers several advantages over copper, including lower cost, lighter weight, and greater flexibility, making it an attractive alternative for certain offshore cable applications. As the offshore wind and oil and gas industries continue to expand, there is a growing need for cost-effective solutions that can meet the increasing demand for high voltage cables. Aluminum conductors, with their lower material costs and ease of handling during installation, are becoming increasingly popular, especially in projects where cost efficiency is a critical consideration.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

High Voltage Offshore Cables Voltage Level Segment Analysis

Voltage Level Segment Analysis

According to Cognitive Market Research, The 115KV-330KV voltage level segment dominates the high voltage offshore cables market. This segment is characterized by its versatility, as it caters to a wide range of offshore power transmission requirements. Projects within this voltage range often involve medium to large-scale offshore wind farms and oil and gas platforms, which require efficient and reliable transmission of high voltage electricity over long distances. The 115KV-330KV cables are well-suited for these applications, offering a balance between power transmission capacity, insulation requirements, and cost-effectiveness.

The segment for high voltage offshore cables with a voltage level greater than 330KV is experiencing the fastest growth in the market. This growth is primarily driven by the increasing demand for ultra-high voltage cables to support the development of large-scale offshore renewable energy projects and interconnections between countries. Projects requiring voltage levels greater than 330KV often involve long-distance power transmission, where minimizing power losses and ensuring grid stability are paramount.

• 50KV-110KV
• 115KV-330KV
• Greater Than 330KV

High Voltage Offshore Cables Type of Transmission Segment Analysis

Type of Transmission Segment Analysis

According to Cognitive Market Research, the HVAC transmission is the dominant type of transmission in the high voltage offshore cables market. HVAC technology has been well-established and widely used in power transmission systems, including offshore applications. It is particularly suitable for medium to long-distance transmission, offering relatively lower investment costs compared to HVDC systems. HVAC cables are also easier to install and maintain, making them a preferred choice for many offshore projects.

The HVDC transmission is the fastest-growing category in the high voltage offshore cables market. HVDC technology is becoming increasingly popular for long-distance power transmission, especially for connecting offshore renewable energy sources to onshore grids. HVDC systems offer lower transmission losses over long distances compared to HVAC systems, making them more efficient for transmitting large amounts of power over submarine cables. The growing demand for offshore wind farms and interconnections between countries has been a key driver for the adoption of HVDC technology in the offshore cables market.

• HVDC
• HVAC

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje

An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.

Author's Conclusion