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

Submarine power cable market surpassed USD 6.9 Bn in 2021 & is expected to grow at 15.15% CAGR during the forecast period to reach USD 19 Bn by 2028.