The submarine power cable market is set to surge, with a projected increase of USD 5.12 billion between 2024 and 2028, growing at a CAGR of 13.64%. As the global energy mix shifts towards renewables, this sector is becoming a cornerstone of offshore infrastructure, enabling the transmission of electricity from offshore wind farms to mainland grids. The drive for carbon neutrality, the rise in global data traffic, and the need for international grid connectivity are powering demand for robust, high-capacity submarine cable networks.For more details about the industry, get the PDF sample report for free
Why single-core cables dominate offshore installations
How Europe leads global demand
Which companies are shaping the competitive landscape
Why HVDC systems are the future of undersea power transmission
This 2025 forecast unpacks the technology, geography, and key players transforming the market, offering insights to businesses, investors, and infrastructure developers alike.
A combination of strategic acquisitions, technological launches, and international partnerships is propelling industry leaders forward.
Prysmian Spa: Launched the HVDC Plus, priced at USD 10M/km, catering to long-distance offshore energy transmission.
Nexans SA: Partnered on a USD 200 million North Sea project, enhancing grid efficiency.
Sumitomo Electric: Acquired a European submarine cable manufacturer for USD 350 million, expanding into the tidal and offshore sectors.
ABB Ltd.: Introduced high-capacity cables priced at USD 12 million per project, targeting clean energy infrastructure.
NKT AS
Fujikura Co. Ltd.
Leoni AG
Southwire Co. LLC
Hengtong Group
Hydro Group
Subsea 7 SA
These companies focus on XLPE-based conductor materials, HVDC technologies, and cross-border transmission systems, positioning themselves as leaders in global energy infrastructure.
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Single-Core Cables:
Valued at USD 2.58 billion in 2018, single-core systems now lead in deployment. Their flexibility, insulation efficiency, and resistance to seawater corrosion make them ideal for long-distance and offshore transmission.
Multi-Core Cables:
Though less dominant, these are favored in compact installation zones and shorter-distance interconnections due to simplified deployment logistics.
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In 2022, 6.3 GW of offshore wind capacity was added globally, with Europe holding 60% of total capacity. Nations like Germany aim to derive 45% of power from renewables by 2025. Submarine cables connect these wind farms to the grid, enabling efficient, low-loss transmission.
HVDC submarine cables outperform AC systems in long-distance transmission. Their reduced power loss and lightweight profile are attracting large-scale offshore grid projects. The trend supports cross-border energy integration, a pillar of the European internal energy market.
As urban areas expand and data traffic reaches terabytes per second, submarine power cables double as fiber-optic conduits, enhancing communication infrastructure alongside electricity.
Europe dominates submarine power cable adoption. Countries like the UK, Belgium, Denmark, and the Netherlands are investing heavily in deep-sea wind turbines and floating wind technologies.
7.7 GW offshore capacity by 2022
Wind now accounts for 15% of total power generation
Larger turbine installations expected to grow further in 2025
Investing in deepwater wind farms
Encouraging domestic cable manufacturing to support infrastructure growth
China is ramping up HVDC technology export capability
Emerging offshore wind projects in Northeast and West Coast
Infrastructure growth supported by Biden administration’s clean energy push
Challenges include regulatory delays and multi-state grid coordination
Growing interest in intercontinental transmission via submarine systems
Early-stage development in Red Sea and Mediterranean corridors
Brazil exploring offshore wind potential along its vast coastline
Demand rising for reliable underwater transmission networks
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Despite strong demand, submarine cable installation remains capital-intensive:
USD 10–12 million per project
Requires maritime route clearance, regulatory approvals, and international agreements
Seabed mapping and geological assessments
Navigating international maritime borders
Coordinating with multiple utility providers and governments
Government-backed renewable energy goals
Push for carbon-neutral infrastructure
Global increase in offshore wind farm capacity
Need for secure, high-capacity electricity transmission
Strategic M&A to enhance technology portfolios
Innovation in conductor materials and insulation
Expansion of intercontinental power grid projects
Growth in HVDC-based marine transmission systems
High costs of cable materials and installations
Environmental risks from undersea disturbances
Regulatory delays across national jurisdictions
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The submarine power cable market has witnessed significant expansion due to increasing investments in renewable infrastructure and transnational energy sharing. Key components include submarine power cables, offshore wind cables, HVDC power cables, and island connection cables that support the transition to cleaner energy sources. Strategic development of inter-country cables and offshore oil cables underscores the growing reliance on renewable energy cables for robust offshore operations. These underwater power lines are often high-voltage cables and cross-border cables, capable of supporting marine wind cables and enabling seamless power transmission across borders. Subsea cable systems and ocean floor cables are essential elements for connecting remote locations and ensuring efficient energy flow. The demand for power transmission cables and green energy cables has surged alongside offshore grid cables and submarine cable networks, reflecting a strategic push for bulk power cables and long-distance cables. Additionally, energy isolation cables have gained importance in line with Kyoto Protocol cables and EU energy cables to meet global sustainability targets.
Market Size Increase: USD 5.12 Billion
CAGR: 13.64%
Single-Core Cable: Leading segment
Europe: 44% global market contribution
HVDC Systems
XLPE Insulated Conductors
Smart Monitoring and Diagnostic Systems
Organizations seeking to capitalize on the booming submarine power cable market can access the full 2025 market outlook, including:
Regional investment trends
Key acquisition strategies
Upcoming project pipelines
Competitive benchmarking by technology adoption
Stay ahead of the curve in this dynamic infrastructure space by tapping into exclusive strategic insights. For procurement strategies and custom forecast modeling, request your Free Report Sample now.
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In-depth research reveals that technological advancements are redefining the submarine cable industry, particularly in supporting solar energy cables and managing intermittent power cables linked to green grids. Urbanization cables are increasingly integrated into urban energy infrastructure, while data traffic cables—transmitting terabytes per second—highlight the growing dual-use role of cable networks in both energy and communication. Alliances cable systems have emerged across regions to support innovation in green innovation cables, including projects around Arabian Gulf cables and Playa Blanca cables. Economic feasibility is being shaped by production cost cables and international grid cables, influencing investment strategies. The application of PESTEL analysis cables is helping stakeholders assess external factors affecting offshore renewable cables and wind farm cables. Meanwhile, the deployment of subsea power lines is facilitated by specialized cable installation ships, which handle high-capacity cables with precision. Enhanced underwater grid cables and marine energy cables reinforce the development of resilient submarine cable infrastructure, forming the backbone of tomorrow’s global energy network.
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