According to a market report by Lucintel, the future of the global subsea power grid systems market looks promising with opportunities in the captive generation and wind power markets. The global subsea power grid systems market is expected to reach an estimated $3 billion by 2030 from $2 billion in 2024 at a CAGR of 10.5% from 2024 to 2030. The major drivers for this market are quick construction of subsea infrastructure to support the rise in offshore exploration activities, rising oil & gas exploration activities in deep waters across the globe, and technological advancements in renewable energy in the offshore environment.
A more
than 150-page report to understand trends, opportunity and forecast in global subsea
power grid systems market to 2030 by depth (shallow water and deepwater),
component (cables, variable speed drives, transformers, switchgears, and
others), application (captive generation, wind power, and others), and region
(North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel
forecast that cables is expected to witness the highest growth over the
forecast period because these cables are used to transmit power to offshore oil
and gas platforms, along with the increasing exploration and production of
offshore oil and gas.
Through
this market, captive generation will remain the largest segment due to growing
number of subsea activities, expanding use of satellite wells for subsea fields
advances, rising amount of deepwater drilling operations, as well as, growing
need for a subsea electric grid system is continually developing in the captive
generating applications.
Europe is
expected to witness the highest growth over the forecast period due to the
significant desire for sources of renewable energy and the favorable government
regulations in these regions.
Download
sample by clicking on subsea
power grid systems market.
ABB, Aker
solution, Apar Industries, Baker Hughes, Furukawa Electric, General Electric,
Hitachi Energy are the major suppliers
in the subsea power grid systems
market.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cost
visit Lucintel's Analytics
Dashboard.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056
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