Increasing demand for HVDC connection is one of the major opportunities for this Submarine Power Cable Market.

The global submarine power cable market was valued at USD 6.11 Billion in 2017 and is projected to reach USD 16.56 Billion by 2023, at a CAGR of 15.32% during the forecast period.

Leading players are trying to establish themselves in the markets in developing economies and are adopting various strategies to increase their market shares.

Increasing demand for HVDC connection is one of the major opportunities for this market.

Submarine Power Cable Market by Type, Voltage, Conductor Material, End-User, and Region - Global Forecast to 2023

The submarine power cable market is expected to grow from an estimated market size of USD 8.12 Billion in 2018 to USD 16.56 Billion by 2023, at a CAGR of 15.32%, from 2018 to 2023.