Undersea transmission cables market set to grow

The number of installed submarine transmission cables will grow from 110 in 2013 to 304 in 2023, according to a conservative forecast. Under a more aggressive scenario, that number could reach 453 by 2023, according to a new report from Navigant Research.

Demand for high-voltage submarine electricity cables is growing steadily, as countries and regions make commitments to offshore renewable power generation, link remote landmasses and interconnect their national grids. As subsea cable technology advances, more projects are being proposed that require longer, deeper, and higher-capacity cables.

While the economic downturn of the past few years has slowed the number of project installations, many governments and organizations remain committed to the types of projects that drive new high-voltage submarine cable installations, according to the report.

Offshore wind farms and grid interconnectors remain a focus of the European Union’s 20-20-20 goal. Further, developing nations in Asia Pacific are requiring larger and more complex cables for their grid and island interconnectors, opening up new opportunities for existing companies.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs