The Latin America, Middle East and Africa Submarine Power Cable Market would witness market growth of 12.5% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 318.7 million feets, showcasing a growth of 13.9% (2023-2030).
Submarine power cables are constructed to withstand particular temperatures and pressures. These cables can be installed in lake basins or riverbeds to transmit power between cities if necessary. Using submarine cables for intercountry and island connections will increase energy trade and remote power supply. These cables are utilized for island relations, offshore hydrocarbon rings, and offshore wind energy generation, among other applications. As an increasing number of offshore wind farms are installed, and the national electric grid is interconnected, the demand for high-performance submarine power cables is expected to grow.
These power cables are employed in grid interconnection projects that connect power grids between different countries, regions, or islands separated by bodies of water. These interconnections enable efficient electricity exchange, enhance grid stability, and improve energy security. Submarine power cables connect islands to mainland electrical grids, providing a continuous and reliable electricity supply. This application supports the energy needs of island communities, including residential, commercial, and industrial sectors.
Many Latin American countries have abundant hydropower resources in remote areas. Submarine power cables transmit electricity from these hydropower facilities to population centres, improving energy access and reducing transmission losses. Cross-border energy trading and interconnection projects are on the rise in Latin America. Submarine power cables facilitate electricity transmission between neighbouring countries, promoting energy security and resource sharing. Several Latin American countries have islands that rely on submarine power cables to connect them to the mainland grid. The aforementioned factors will promote the expansion of market in this region.
The Brazil market dominated the LAMEA Submarine Power Cable Market, By Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $396.4 million by 2030. The Argentina market is showcasing a CAGR of 13.1% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 12.2% during (2023 - 2030).
Based on Core Type, the market is segmented into Single Core, & Multicore. Based on Conductor Material, the market is segmented into copper & Aluminium. Based on Voltage, the market is segmented into High, & Low. Based on Type, the market is segmented into DC, & AC. Based on End User, the market is segmented into Offshore Wind Power Generation, Offshore Oil & Gas, Inter-country and Island Connection. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Submarine Power Cable Market is Projected to reach USD 26.4 Billion by 2030, at a CAGR of 11.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sumitomo Electric Industries, Ltd., Prysmian Group, Nexans S.A., NKT Photonics A/S (NKT A/S), LS Cable & System Ltd., Furukawa Electric Co., Ltd., SSG Cable Group, KEI Industries Limited, TPC Wire & Cable (Audax Management Company, LLC), and Hengtong Group Co., Ltd.
By Core Type (Volume, Million Feets, USD Billion, 2019 to 2030)
By Conductor Materia (Volume, Million Feets, USD Billion, 2019 to 2030)
By Voltage (Volume, Million Feets, USD Billion, 2019 to 2030)
By Type (Volume, Million Feets, USD Billion, 2019 to 2030)
By End User (Volume, Million Feets, USD Billion, 2019 to 2030)
By Country (Volume, Million Feets, USD Billion, 2019 to 2030)
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