Latest news with #offshorewindfarms
Yahoo
4 days ago
- Business
- Yahoo
Submarine Cable Systems Market worth $33.75 billion in 2030 - Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Aug 7, 2025 /PRNewswire/ -- The global submarine cable systems market is anticipated to grow from USD 19.95 billion in 2025 to USD 33.75 billion in 2030, at a compound annual growth rate (CAGR) of 11.1% according to a new report by MarketsandMarkets™. 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 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. Download PDF Brochure: Browse in-depth TOC on "Submarine Cable Systems Market" 211 – Tables82 – Figures290 – 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. Inquiry Before Buying: 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. Major companies operating in the submarine cable systems companies are Alcatel Submarine Networks (France), Prysmian S.p.A (Italy), SubCom, LLC (US), NEC Corporation (Japan), and Nexans (France). Get 10% Free Customization on this Report: Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting See More Latest Semiconductor Reports: Data Center Interconnect Market by Type [Products (Packet Switching Network, Optical DCI), Software, Services (Professional, Managed)], Application (Real-time Disaster Recovery & Business Continuity, Workload & Data Mobility) - Global Forecast to 2030 Machine Control System Market by Type (Total Stations, Global Navigation Satellite Systems (GNSS), Laser Scanners, Sensors), By End-use Equipment (Excavators, Dozers, Graders, Scrapers, Loaders, Paving Systems) - Global Forecast to 2030 About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan SalgarkarMarketsandMarkets™ INC. 1615 South Congress 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: sales@ Our Web Site: Insight: Source: Logo: View original content: SOURCE MarketsandMarkets
Sky News
31-07-2025
- Business
- Sky News
Scotland approves world's 'biggest offshore windfarm' project - days after Donald Trump pressured First Minister to scrap renewables
The Scottish Government has given approval for what is being called the world's "biggest offshore windfarms" just days after US President Donald Trump pressured Scotland's First Minister to scrap renewable projects. The US president branded the turbines a "con-job" and described those along Scotland's coastline as "some of the ugliest you've ever seen". Mr Trump raised the issue during face-to-face talks with Scottish First Minister John Swinney on the president's visit to Aberdeenshire on Tuesday. 6:30 The lobbying by Trump appears to have failed because, as of Thursday morning, the Scottish Government issued licences for the Berwick Bank project in the waters off the Scottish Borders. SSE, the developer, has described the project as the largest in the world, with the possibility of powering six million homes when complete. Mr Trump said at the weekend that offshore wind is "ruining" Scotland and Europe, and claimed it is "killing the birds". John Swinney told Sky News following the summit with the US president that "we are not going to be able to agree on all subjects and I am a believer in climate change". Announcing approval on Thursday, the Scottish Government said that Berwick Bank could generate enough electricity each year to power every household in Scotland around twice over. Scottish Secretary Ian Murray said: "These large-scale renewable energy projects will ensure people in Scotland truly benefit from clean power, lower bills, and good quality job opportunities." Stephen Wheeler, managing director of SSE Renewables, added: "Berwick Bank has the potential to rapidly scale-up Scotland's operational renewable energy capacity and can accelerate the delivery of homegrown, affordable and secure clean energy to UK consumers from Scottish offshore wind, helping meet the UK's clean power ambition by 2030." The final plans will need to be approved by Scottish ministers before Berwick Bank proceeds.
Bloomberg
30-07-2025
- Entertainment
- Bloomberg
Samuel L. Jackson Joins Wind Campaign After Trump Criticism
Actor Samuel L. Jackson joined a campaign by Swedish energy company Vattenfall AB to promote offshore wind farms, marking the latest area of disagreement between the Pulp Fiction star and the US President. 'These giants are standing tall against fossil fuels — rising up out of the ocean like a middle finger to CO2,' Jackson says in a one-minute video released by Vattenfall Wednesday, a day after Donald Trump called windmills a 'disgrace' during a visit to Scotland.
