Report Description Table of Contents The offshore wind cable market was worth USD 3.2 billion in 2023 and will be worth USD 12.27 billion by 2030, growing at a CAGR of 18.3% during the forecast period. The Offshore Wind Cable market is further propelled by the increasing number of offshore wind energy projects where countries are looking to move towards the renewable energy sector. As of 2022, the offshore wind generated over 35 GW, with essential European markets set to install 60 GW by 2030. Offshore is the cables used for export cables and array cables which are crucial in transmitting power from offshore wind turbines to the terrestrial electricity network. For instance, one of the largest offshore wind farms in the UK, Dogger Bank Wind Farm, needs innovative cable that will conduct electricity over long distances. Recent developments include the application of HVDC cables, where power is transmitted at high voltage but with direct current, resulting in increased transmission distance without losses. An increasing need for cables that can perform in severe marine conditions while providing consistent power delivery is boosting the market growth, especially with the development of more distant offshore wind farms. There is potential in the Offshore Wind Cable market because investments in offshore wind energy sources are also increasing around the world, and the capacity may reach more than 234GW by 2030. This increase is attributed to the demand for clean energy and the capacity of offshore wind farms to produce a great deal of power. For instance, there is significant capital expenditure for offshore wind projects in Europe and Asia-Pacific, although Europe currently provides nearly half the global offshore wind capacity. For example, the US East Coast has been experiencing a surge in new offshore wind project development, necessitating high-performance cables suitable for submerged use. These advancements present a prime growth opportunity for cable manufacturers and suppliers to underpin the growth of the offshore wind industry worldwide. Market Segmentation By Type: Export Cables Inter-array Cables Dynamic Cables By Material: Copper Aluminum Others (composite materials) By Installation Type: Submarine Cables (Underwater) Buried Cables Floating Cables By End-Use: Offshore Wind Turbines Offshore Substations Grid Connection Systems By Region North America US Mexico Canada Rest of North America Europe Switzerland Russia France Germany U.K Finland Turkey Netherlands Belgium Spain Italy Rest of Europe Asia Pacific India China South Korea Japan Singapore Thailand Indonesia Malaysia Philippines Australia Rest of Asia-Pacific LAMEA Brazil Argentina Uruguay Saudi Arabia Rest of LAMEA Europe is the largest Offshore Wind Cable market due to its focus on developing renewable energy sources and its advanced offshore wind investment. Offshore wind energy constitutes over 40% of the total European installed capacity, and major players include the UK, Germany, and Denmark. For instance, the Dogger Bank Wind Farm, UK, is one of the largest offshore wind farms, combining 3.6 GW of power. In order to transmit the power to the main land, an efficient submarine cable system is needed. The latest is the use of new high-voltage direct current (HVDC) cables, which enhance the transmission of power over long distances from offshore wind farms. Following Europe’s aggressive objectives of cutting carbon emissions and increasing the use of renewable energy sources by 2030, this community remains at the forefront of investment in Offshore wind projects and cable systems. Key Players Nexans S.A. Prysmian Group NKT A/S LS Cable & System Ltd. JDR Cable Systems Hellenic Cables Sumitomo Electric Industries, Ltd. ZTT International Limited Furukawa Electric Co., Ltd. ABB Ltd. Frequently Asked Question About This Report . Table of Contents 1. OFFSHORE WIND CABLE MARKET – PRODUCTION VOLUME BY REGION, (2024 – 2030) 1.1. North America 1.2. Europe 1.3. Asia Pacific 1.4. Latin America 1.5. Middle East & Africa 2. OFFSHORE WIND CABLE MARKET – REVENUE ($MILLION), BY REGION, (2024 – 2030) 2.1. North America 2.2. Europe 2.3. Asia Pacific 2.4. Latin America 2.5. Middle East & Africa 3. MARKET SHARE ANALYSIS – OFFSHORE WIND CABLE MARKET 3.1. Top 20 Players with Product Mix, Revenue, and Sales Volume 3.2. Market Share, 2023 3.3. Market By Type of Offshore Wind Cable and End Use Outlook Analysis 4. HISTORIC TRENDS IN OFFSHORE WIND CABLE MARKET 5. EMERGING MARKET TRENDS 6. NORTH AMERICA OFFSHORE WIND CABLE MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 6.1. North America Offshore Wind Cable Historical Market ($MILLION), (2017 – 2023) 6.2. North America Offshore Wind Cable Market ($MILLION) and Forecasts (2024 – 2030) 6.3. North America Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), By Type 6.3.1. Export Cables 6.3.2. Inter-array Cables 6.3.3. Dynamic Cables 6.4. North America Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), By Material 6.4.1. Copper 6.4.2. Aluminum 6.4.3. Others (composite materials) 6.5. North America Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), By Installation Type 6.5.1. Submarine Cables (Underwater) 6.5.2. Buried Cables 6.5.3. Floating Cables 6.6. North America Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), By End-User 6.6.1. Offshore Wind Turbines 6.6.2. Offshore Substations 6.6.3. Grid Connection Systems 6.7. North America Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 6.7.1. USA 6.7.2. Canada 6.7.3. Rest of North America 7. USA OFFSHORE WIND CABLE MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 8. EUROPE OFFSHORE WIND CABLE MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 8.1. Europe Offshore Wind Cable Historical Market ($MILLION), (2017 – 2023) 8.2. Europe Offshore Wind Cable Market ($MILLION) and Forecasts (2024 – 2030) 8.3. Europe Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), By Type 8.4. Europe Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), ByMaterial 8.5. Europe Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), By Installation Type 8.6. Europe Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), By End-User 8.7. Europe Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 8.7.1. Germany 8.7.2. France 8.7.3. UK 8.7.4. Italy 8.7.5. Spain 8.7.6. Rest of Europe 9. APAC OFFSHORE WIND CABLE MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 9.1. APAC Offshore Wind Cable Historical Market ($MILLION), (2017 – 2023) 9.2. APAC Offshore Wind Cable Market ($MILLION) and Forecasts (2024 – 2030) 9.3. APAC Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), By Type 9.4. APAC Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), ByMaterial 9.5. APAC Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), ByInstallation Type 9.6. APAC Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), By End-User 9.7. APAC Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 9.7.1. China 9.7.2. Japan 9.7.3. South Korea 9.7.4. India 9.7.5. Australia 9.7.6. Rest of APAC 10. LATIN AMERICA OFFSHORE WIND CABLE MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 10.1. Latin America Offshore Wind Cable Historical Market ($MILLION), (2017 – 2023) 10.2. Latin America Offshore Wind Cable Market ($MILLION) and Forecasts (2024 – 2030) 10.3. Latin America Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), By Type 10.4. Latin America Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), ByMaterial 10.5. Latin America Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), ByInstallation Type 10.6. Latin America Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), By End-User 10.7. Latin America Offshore Wind Cable Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 10.7.1. Brazil 10.7.2. Argentina 10.7.3. Rest of Latin America 11. COMPANY PROFILES: 11.1. NEXANS S.A. 11.1.1. Company Overview 11.1.2. Company Snapshot 11.1.3. Operating business segments 11.1.4. Product offered and Revenue 11.1.5. Production & Sales 11.2. Prysmian Group 11.3. NKT A/S 11.4. LS Cable & System Ltd. 11.5. JDR Cable Systems 11.6. Hellenic Cables 11.7. Sumitomo Electric Industries, Ltd. 11.8. OTHER MARKET PLAYERS