Technavio has been monitoring the offshore wind cable market and it is poised to grow by $655.89 mn during 2020-2024, progressing at a CAGR of over 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavios in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. We offer $1000 worth of FREE customization
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Brugg Kabel AG, Hellenic Cables SA, Jiangsu Zhongtian Technology Co. Ltd., Leoni AG, Nexans SA, NKT AS, Parker Hannifin Corp., Prysmian Spa, and Sumitomo Electric Industries Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Growing offshore renewable energy installations has been instrumental in driving the growth of the market. However, higher investments needed in offshore projects might hamper market growth.
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Offshore Wind Cable Market 2020-2024: Segmentation
Offshore Wind Cable Market is segmented as below:
- Export Cable
- Inter-array Cable
- North America
- South America
Offshore Wind Cable Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The offshore wind cable market report covers the following areas:
- Offshore Wind Cable Market Size
- Offshore Wind Cable Market Trends
- Offshore Wind Cable Market Industry Analysis
This study identifies innovations in the wind industry as one of the prime reasons driving the offshore wind cable market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavios in-depth research has direct and indirect COVID-19 impacted market research reports.
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Offshore Wind Cable Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist offshore wind cable market growth during the next five years
- Estimation of the offshore wind cable market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the offshore wind cable market
- Analysis of the markets competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of offshore wind cable market, vendors
Table of Contents:
Five Forces Analysis
Market Segmentation by Product
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