“The Submarine Power Cables market set to grow to $16.1 bn and 2.5 million kilometers by 2030” says new Visiongain report
04 November 2019
Visiongain has launched a new energy report Submarine Power Cables Market Forecast 2020-2030: Forecasts by Segments (by Type (Multicore & Singlecore), by Voltage (High (500 kv and above and Low (below 500 kv), by Conductor Material (Aluminum and Copper) and by End-user (Offshore Wind Power Generation, Offshore Oil & Gas and Inter-country & Island Connection).
Submarine cables play a critical role in global interconnected networks, carrying about 99 percent of international communications traffic. Submarine cables mostly belong to large tele-communications firms. Some state and government-owned companies also have stakes in them and there are so-called consortium cables.
Today, submarine cables use fiber-optic technology, whereby information is encoded onto waves of light transmitted by lasers across thin glass fibres. The throughput varies with optical technology used, but today’s most advanced fibre links can transmit over 200 terabits per second.
The Visiongain report analyst commented "In 2019, more than 370 submarine cables were laid rest on the sea floor around the world, facilitating the constant connection of companies and boosting international trade. This is an essential resource for global business, as it allows the Internet to reach all corners of the planet, since wireless technology and satellite connections don’t have the same reliability and speed in data transmission. This improved performance is fostering the continuous spread of cables with private and public capital."
Leading companies featured in the report who are developing submarine power cables include: Nexans, Prysmian Group, LS Cable & System Ltd., ZTT, Furukawa Electric Co., LTD., and NKT A/S.
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