Submarine Power Cable Market Size, Share, Trends, Forecast, & Growth Analysis
The submarine power cable market was estimated at USD 6.97 billion in 2021 and is likely to grow at a CAGR of 15.15% during 2022-2028 to reach USD 19 billion in 2028.
Market Drivers
Major factors such as the continuous expansion of oil & gas platforms coupled with increasing deployment of wind farms, high investments by government departments and private firms, and integration of energy-efficient operational environment are expected to drive the growth of the market during the forecast period.