Submarine Cable Systems Market worth $33.75 billion in 2030

Most global internet traffic depends on submarine cables, and almost everyone relies on the internet for day-to-day activities. The world is connected through the Internet; thus, global traffic is increasing every other day. About half of the global internet traffic comes from the Asia Pacific, which, in turn, is driving the demand for submarine communication cables. Additionally, the increasing global demand for renewable energy, particularly offshore wind farms, is a key driver of the submarine cable system market, necessitating extensive power cable networks for efficient energy transmission.


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Browse in-depth TOC on "Submarine Cable Systems Market"

211 – Tables
82 – Figures
290 – Pages

Submarine Cable Systems Market Scope:

Report Coverage

Details

Market Revenue in 2025

$ 19.95 billion

Estimated Value by 2030

$ 33.75 billion

Growth Rate

Poised to grow at a CAGR of 11.1%

Market Size Available for

2021–2030

Forecast Period

2025–2030

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Cable Type, Component, Service Offering, Type, Voltage, Insulation, End-use Application, and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Data privacy compliance challenges

Key Market Opportunities

Implementation of HVDC power transmission technology

Key Market Drivers

Rising need for electrical power supply in islands

Single Core Segment to Hold Largest Market Share in 2025

Single core submarine power cables constitute multiconductor systems consisting of conductors, insulations, and lead or aluminum sheaths with a single propagation mode to prevent moisture ingress in them. Single core features a higher bandwidth than multicore cables and, hence, a high data transmission rate. These cables are suitable for covering longer lengths as they experience lower reverse currents than multicore cables. The high value of the segment is also attributed to the high cost of installation, connectors, and systems.

High-Voltage Segment to Exhibit Highest CAGR Between 2025 and 2030

Submarine power cables with a voltage above 33 kV are considered high-voltage cables. These cables enable the integration of renewable energy into the existing grid and the extension of the system to single points, such as offshore wind farms or oil & gas plants. High-voltage submarine power cables comprise conductors and insulation layers. These are usually 3-core armored cables with copper or aluminum conductors. XLPE is the most widely used insulation for high-voltage submarine power cables owing to its higher current rating than polyvinyl chloride (PVC). These cables enable efficient power transmission owing to their low transmission losses. The increasing requirement for interconnecting lands and the growing demand for power generation from offshore plants using renewable sources have led to the growth of the global high-voltage submarine power cable market.

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Europe to Capture Largest Market Share in 2025

Europe is anticipated to dominate a significant portion of the submarine power cables market in 2025. With the European Union (EU) targeting a minimum renewable energy in the overall energy mix by 2030, the region is transitioning from fossil fuels to renewable sources, such as hydropower, solar energy, wind power, and biofuels, driving substantial demand for submarine cable systems industry. Furthermore, Europe hosts numerous offshore oil & gas projects, notably in the UK, Norway, the Netherlands, Italy, and Denmark. These projects, including Ekofisk (Norway), Montrose (UK), Forties (UK), Eldfisk (Norway), Dan (Denmark), Brent (Norway), Frigg (UK), Beryl (UK), Sleipner (Norway), and Statford (Norway), are actively engaged in exploration and production activities, attracting fresh investments in the offshore oil & gas sector and subsequently fueling demand for submarine power cables in the region. Germany and the UK are poised for rapid growth during the forecast period.

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