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    US Submarine Power Cable Market

    ID: MRFR/E&P/16701-HCR
    100 Pages
    Garvit Vyas
    October 2025

    US Submarine Power Cable Market Research Report: By Type (AC, DC), By Core Type (Single Core, Multi-Core), By Insulation Type (Cross-Linked Polyethylene (XLPE), Ethylene Propylene Rubber (EPR)), By Voltage (Up to 66 KV, 66 KV-220 KV, Above 220 KV), By Conductor Material (Copper, Aluminum) and By End-Use (Offshore Wind Power Generation, Offshore Oil & Gas, Island Connection, Wave & Tidal Power Generation) - Forecast to 2035

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    US Submarine Power Cable Market Infographic
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    US Submarine Power Cable Market Summary

    The US Submarine Power Cable market is projected to grow significantly from 1.5 USD Billion in 2024 to 5 USD Billion by 2035.

    Key Market Trends & Highlights

    US Submarine Power Cable Key Trends and Highlights

    • The market is expected to experience a compound annual growth rate (CAGR) of 11.57 percent from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 5 USD Billion, indicating robust growth potential.
    • In 2024, the market is valued at 1.5 USD Billion, reflecting a strong foundation for future expansion.
    • Growing adoption of renewable energy sources due to increasing demand for sustainable power solutions is a major market driver.

    Market Size & Forecast

    2024 Market Size 1.5 (USD Billion)
    2035 Market Size 5 (USD Billion)
    CAGR (2025-2035) 11.57%

    Major Players

    Prysmian Group, Kinectrics, Asea Brown Boveri, Siemens, Furukawa Electric, Hitachi Energy, ZTT, TE Connectivity, LS Cable and System, Nexans, 3M, General Electric, Mitsubishi Electric, Southwire Company

    US Submarine Power Cable Market Trends

    Additionally, advancements in cable technology are enabling more efficient, durable, and high-capacity cables, which allows for longer distances in energy transmission while minimizing energy loss, thus supporting the growing offshore projects.

    Currently, there are substantial opportunities to be captured in the areas of innovation and development of submarine cable systems. The recent trends in infrastructure investment and regulatory support from the US government present a favorable environment for new projects. Collaborations between private companies and public agencies can enhance technological capabilities and lead to cost reductions in cable production and installation.

    Moreover, the growing interest in interconnectors, which link electricity grids between different regions and states, highlights the potential for enhanced energy trading and stability, further driving the demand for submarine cables.In recent times, there has been a marked increase in public awareness regarding climate change and the need for sustainable energy solutions.

    This social climate allows for greater public support for offshore wind and other marine energy projects, which rely heavily on submarine power cables for implementation. As the US government sets ambitious targets for renewable energy, the submarine power cable infrastructure is becoming more vital, establishing critical trends that are shaping the market dynamics in this region. This growing connectivity and collaboration trend among states will play an essential role in positioning the US as a leader in the energy transition, paving the way for a robust submarine power cable market.

    Market Segment Insights

    US Submarine Power Cable Market Segment Insights:

    US Submarine Power Cable Market Segment Insights:

    Submarine Power Cable Market Type Insights

    Submarine Power Cable Market Type Insights

    The US Submarine Power Cable Market has gained significant traction, particularly focusing on the Type segment, which primarily consists of AC and DC cables. The growth in renewable energy integration, such as offshore wind farms, has driven demand for efficient power transfer through submarine cables. AC cables are notably utilized for transmitting power over shorter distances and often serve interconnectors between regions, making them a vital component in the energy infrastructure of the United States.

    Conversely, DC cables are preferred for long-distance energy transmission, as they minimize power losses, enabling the transfer of large amounts of electricity from remote renewable sources to urban centers.The increasing push towards sustainable energy solutions and decarbonization efforts across the nation have further intensified the focus on the submarine power cable market, emphasizing the need for advanced cable technologies and infrastructure.

    The complexities associated with installation, maintenance, and regulatory compliance pose certain challenges to the market; however, the opportunities presented by emerging technologies, including high-voltage direct current (HVDC) systems, continue to drive innovation within the industry.

    Both AC and DC segments play essential roles in shaping the future energy landscape in the United States, contributing to energy security and stability while facilitating the transition towards a greener economy.As the US government pushes initiatives to enhance grid resilience and integrate renewable energy sources, the importance and relevance of the Type segment within the US Submarine Power Cable Market will likely continue to grow, underscoring its integral role in addressing the power needs of an evolving energy grid.

    Submarine Power Cable Market Core Type Insights

    Submarine Power Cable Market Core Type Insights

    The Core Type segment of the US Submarine Power Cable Market plays a crucial role in facilitating the efficient transmission of electricity over underwater distances. This market can primarily be divided into Single Core and Multi-Core cables, both of which are essential for various applications ranging from offshore wind farms to interconnecting island grids.

    The Single Core type is often preferred for its simplicity and effectiveness in high-voltage applications, providing a streamlined solution that minimizes installation complexity and enhances performance.On the other hand, Multi-Core cables are increasingly significant due to their ability to transmit multiple signals simultaneously, which is particularly important in renewable energy projects that require high data and power throughput. As the US government emphasizes renewable energy and infrastructure development, the demand for advanced submarine power cables, particularly those in the Core Type segment, continues to rise.

    The focus on reducing transmission losses and increasing energy efficiency further underscores the importance of these cables in modern electrical systems.Innovations in materials and manufacturing techniques are also expected to enhance the reliability and lifespan of these cables, thereby bolstering their adoption across the industry. Overall, the Core Type segment is vital in addressing the evolving energy demands while supporting the move toward a more sustainable electrical infrastructure in the US.

    Submarine Power Cable Market Insulation Type Insights

    Submarine Power Cable Market Insulation Type Insights

    The Insulation Type segment of the US Submarine Power Cable Market plays a crucial role in ensuring the efficiency and reliability of underwater electricity transmission. Two prominent materials in this segment are Cross-Linked Polyethylene (XLPE) and Ethylene Propylene Rubber (EPR). XLPE is known for its excellent thermal and chemical resistance, making it suitable for high-voltage applications. Its ability to withstand harsh marine environments provides durability and long-term performance, catering to the growing demand for renewable energy projects and interconnection of power grids.EPR, on the other hand, offers superior flexibility and environmental resilience, contributing to its significance in offshore power installations.

    The choice between these materials often hinges on specific project requirements and environmental considerations, ensuring that the insulation used can withstand varying depths and temperatures found in US waters. The trends toward renewable energy and sustainable infrastructure are driving innovations in these insulation materials, with ongoing Research and Development efforts focused on enhancing performance characteristics to meet future demands in the US Submarine Power Cable Market.Overall, the dynamic interplay of these materials reflects the broader industry shifts towards improving energy reliability and efficiency.

    Submarine Power Cable Market Voltage Insights

    Submarine Power Cable Market Voltage Insights

    The US Submarine Power Cable Market, particularly within the Voltage segment, showcases a diverse landscape reflecting the varying needs for energy transmission across marine environments. This market is segmented into three important categories: Up to 66 KV, 66 KV-220 KV, and Above 220 KV. Each category serves distinct applications, with the Up to 66 KV segment being critical for connecting smaller renewable energy sources to the grid, particularly in offshore wind farms and localized energy systems.

    The 66 KV-220 KV segment is important due to its capacity to facilitate medium-distance power transmission, thereby effectively connecting power generated from distant renewable sources to urban consumption areas.Meanwhile, the Above 220 KV category is significant for long-distance high-capacity transmission, playing a pivotal role in ensuring stable and reliable energy supply to meet the growing demands of industrial and urban development. The expansion of these segments is driven by increasing investments in renewable energy and the need for modernizing grid infrastructure in the United States, reflecting a clear trend towards sustainable energy solutions and efficient transmission systems.

    Overall, these Voltage categories are crucial in shaping the future landscape of the US energy market, paving the way for more robust energy networks.

    Submarine Power Cable Market Conductor Material Insights

    Submarine Power Cable Market Conductor Material Insights

    The Conductor Material segment within the US Submarine Power Cable Market is crucial for efficient energy transfer, primarily utilizing materials such as Copper and Aluminum. Copper remains a preferred choice due to its excellent electrical conductivity and durability, making it incredibly significant in high-performance applications. The properties of Copper enable reliable transmission over long distances, which is a vital requirement for submarine cable systems.

    On the other hand, Aluminum, while offering a lightweight alternative with lower cost implications, still provides substantial conductivity, making it a practical option for various projects.This segment is characterized by an increasing focus on sustainable energy solutions, with governmental policies pushing the agenda for renewable energy infrastructure in the US. The trend toward higher-capacity power cables to meet growing energy demands places additional importance on the selection of conductor materials.

    As the US government invests in renewable energy networks, the Conductor Material segment is positioned to grow, driven by the need for efficient, durable, and economic solutions to enhance energy transmission and sustainability in the electrical grid.

    Submarine Power Cable Market End-Use Insights

    Submarine Power Cable Market End-Use Insights

    The End-Use segment of the US Submarine Power Cable Market plays a crucial role in enhancing energy infrastructure and connectivity across the region. Offshore Wind Power Generation is increasingly gaining traction, driven by the US government's focus on renewable energy sources and fading reliance on fossil fuels, contributing significantly to job creation and environmental sustainability.

    In addition, the Offshore Oil and Gas sector necessitates reliable power supply solutions to support operations in remote offshore locations, thereby underscoring the importance of efficient submarine power cables.Island Connection projects facilitate energy distribution to isolated communities, which enhances energy security and decreases reliance on imported fuels. Furthermore, the growth of Wave and Tidal Power Generation segments represents a promising avenue for clean energy, tapping into the vast marine resources available in the US.

    Overall, this segment reflects the broader trends toward sustainable energy solutions and infrastructure expansion, with a focus on energy resilience and innovation across various sectors within the industry. By catering to a diverse range of end-uses, the US Submarine Power Cable Market is positioned to address key energy challenges while aligning with national sustainability goals.

    Get more detailed insights about US Submarine Power Cable Market

    Key Players and Competitive Insights

    The US Submarine Power Cable Market is characterized by its intense competition and a dynamic landscape influenced by innovations in technology and increasing demand for renewable energy sources. The growth in offshore wind farms and interconnection projects among regions are significant drivers influencing market dynamics. As the industry evolves, numerous players are vying for market share, showcasing their capabilities in design, manufacturing, and installation of submarine power cables. The strategies employed by these companies often focus on technological innovations, geographic expansion, strategic partnerships, and mergers and acquisitions, all aimed at optimizing cost and enhancing service delivery.

    Understanding competitive insights provides key context for stakeholders aiming to navigate the market and capitalize on emerging opportunities while addressing challenges associated with product quality, supply chain management, and regulatory constraints.Prysmian Group holds a prominent position in the US Submarine Power Cable Market, leveraging its robust technological capabilities and extensive product portfolio to meet the demands of various infrastructure projects. The company's commitment to R&D and innovation helps them maintain a competitive edge, as they develop high-performance cable solutions tailored for offshore applications.

    Prysmian Group is recognized for its ability to deliver customized solutions that cater to specific project requirements, which is a significant strength in this sector.

    Furthermore, its established brand reputation, paired with its extensive network of manufacturing facilities and skilled workforce in the US, enables Prysmian Group to efficiently address customer needs while ensuring reliability and quality in cable production.Kinectrics has made a notable impact within the US Submarine Power Cable Market by offering specialized services that encompass testing and consulting for submarine cable systems.

    The company's focus on quality assurance and the implementation of advanced testing technologies enable it to support clients throughout the lifecycle of submarine power cables, from design to deployment. Kinectrics' expertise in performance evaluation and condition monitoring is a critical asset, contributing to enhanced reliability and efficiency of submarine cable infrastructure. Additionally, Kinectrics has pursued strategic partnerships and collaborations within the industry to bolster its service offering in the US region.

    This emphasis on innovation, combined with a customer-centric approach, positions Kinectrics strongly in the market, enabling it to navigate the complexities of submarine power cable projects while adding value to its clientele through comprehensive solutions and insights.

    Key Companies in the US Submarine Power Cable Market market include

    Industry Developments

    Recent developments in the US Submarine Power Cable Market have been marked by significant investments and advancements in technology. Companies such as Prysmian Group and Nexans have accelerated their construction of high-capacity submarine cable systems to support offshore wind farms and interconnections, responding to the Biden administration's push for clean energy initiatives. In August 2023, Asea Brown Boveri launched a new production facility in the US aimed at boosting cable manufacturing capabilities.

    Meanwhile, in July 2023, Siemens announced a partnership with Kinectrics to enhance testing protocols for submarine cables, addressing safety and efficiency. The market has seen robust growth, with valuation estimates improving due to increasing demand for renewable energy sources and infrastructure upgrades. Notable mergers include Mitsubishi Electric's acquisition of a specialized cable manufacturing firm in June 2023, enhancing its position within the sector.

    These developments reflect a growing awareness of the essential role submarine cables play in the national energy infrastructure, following significant regulatory support from the US government over the past few years, particularly in 2021 with initiatives aiming to boost offshore wind capacity across various states.

    Market Segmentation

    Outlook

    • Offshore Wind Power Generation
    • Offshore Oil & Gas
    • Island Connection
    • Wave & Tidal Power Generation

    Report Scope

    Report Scope:
    Report Attribute/Metric Source: Details
    MARKET SIZE 2018 1.32(USD Billion)
    MARKET SIZE 2024 1.5(USD Billion)
    MARKET SIZE 2035 5.0(USD Billion)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 11.567% (2025 - 2035)
    REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR 2024
    MARKET FORECAST PERIOD 2025 - 2035
    HISTORICAL DATA 2019 - 2024
    MARKET FORECAST UNITS USD Billion
    KEY COMPANIES PROFILED Prysmian Group, Kinectrics, Asea Brown Boveri, Siemens, Furukawa Electric, Hitachi Energy, ZTT, TE Connectivity, LS Cable and System, Nexans, 3M, General Electric, Mitsubishi Electric, Southwire Company
    SEGMENTS COVERED Type, Core Type, Insulation Type, Voltage, Conductor Material, End-Use
    KEY MARKET OPPORTUNITIES Renewable energy integration projects, Offshore wind farm development, Enhanced inter-state connectivity, Environmental sustainability initiatives, Technological advancements in cable design
    KEY MARKET DYNAMICS increasing renewable energy projects, growing offshore wind farms, government regulatory support, technological advancements in cables, investments in underwater infrastructure
    COUNTRIES COVERED US

    FAQs

    What is the expected market size of the US Submarine Power Cable Market in 2024?

    The expected market size of the US Submarine Power Cable Market in 2024 is 1.5 billion USD.

    What is the projected market size for the US Submarine Power Cable Market by 2035?

    By 2035, the projected market size for the US Submarine Power Cable Market is estimated to reach 5.0 billion USD.

    What is the expected CAGR for the US Submarine Power Cable Market from 2025 to 2035?

    The expected CAGR for the US Submarine Power Cable Market from 2025 to 2035 is 11.567%.

    Which type of submarine power cables dominates the market?

    The AC submarine power cables dominate the market, expected to grow from 0.9 billion USD in 2024 to 3.0 billion USD in 2035.

    What market size is projected for DC submarine power cables by 2035?

    The market size for DC submarine power cables is projected to reach 2.0 billion USD by 2035.

    Who are the key players in the US Submarine Power Cable Market?

    Key players in the US Submarine Power Cable Market include Prysmian Group, Siemens, and General Electric among others.

    What are the key growth drivers for the US Submarine Power Cable Market?

    Key growth drivers include the increasing demand for renewable energy sources and the expansion of offshore wind farms.

    Are there significant opportunities in the US Submarine Power Cable Market?

    Yes, significant opportunities exist due to advancements in technology and the rising need for efficient energy transmission.

    How does the US Submarine Power Cable Market perform regionally?

    The US Submarine Power Cable Market is primarily driven by coastal states with substantial renewable energy initiatives.

    What challenges does the US Submarine Power Cable Market currently face?

    Challenges include high installation costs and environmental concerns related to submarine cable laying.

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