What is the global market size of Offshore Wind Cable Market?

Offshore Wind Cable Market size was valued at USD 32 billion in 2021 and is poised to grow from USD 36.16 billion in 2022 to USD 96.13 billion by 2030, growing at a CAGR of 13% in the forecast period (2023-2030).

Top Offshore Wind Cable Companies

Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the Offshore Wind Cable Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading Offshore Wind Cable industry players.

Offshore Wind Cable Market Competitive Landscape

Prominent companies like Nexans SA, Prysmian Group, and JDR Cable Systems have a strong foothold, leveraging their extensive experience in designing and manufacturing offshore wind cables. They focus on innovation, research, and development to enhance cable efficiency, durability, and transmission capabilities, meeting the stringent requirements of offshore installations.

Offshore Wind Cable Market Top Player’s Company Profiles

Nexans SA (France)

Prysmian Group (Italy)

JDR Cable Systems (United Kingdom)

NKT A/S (Denmark)

LS Cable & System Ltd. (South Korea)

Hengtong Group Co., Ltd. (China)

Zhongtian Technology Group Co., Ltd. (China)

ParkerScanrope AS (Norway)

KEI Industries Ltd. (India)

ABB Ltd. (Switzerland)

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FAQs

Offshore Wind Cable Market size was valued at USD 4.34 Billion in 2024 and is poised to grow from USD 5.34 Billion in 2025 to USD 27.97 Billion by 2033, growing at a CAGR of 23% during the forecast period (2026–2033).

The competitive landscape of the global offshore wind cable market is characterized by a mix of established players and emerging entrants striving to capitalize on the burgeoning demand for renewable energy solutions. Key industry participants are engaged in strategic collaborations, mergers, acquisitions, and technological advancements to secure their positions and cater to the growing market needs. 'Nexans S.A. (France)', 'Prysmian Group (Italy) ', 'NKT A/S (Denmark) ', 'LS Cable & System Ltd. (South Korea) ', 'Sumitomo Electric Industries, Ltd. (Japan) ', 'Furukawa Electric Co., Ltd. (Japan) ', 'Fujikura Ltd. (Japan) ', 'Hellenic Cables Group (Greece) ', 'Ningbo Orient Wires & Cables Co., Ltd. (China) ', 'Hydro Group plc (UK) ', 'ZTT Group (China) ', 'General Cable Corporation (USA) ', 'ABB Ltd. (Switzerland) ', 'Brugg Cables (Switzerland) ', 'KEI Industries Ltd. (India) ', 'Southwire Company, LLC (USA) ', 'TFKable Group (Poland) ', 'Taihan Electric Wire Co., Ltd. (South Korea)'

Favorable regulatory frameworks, subsidies, and incentives provided by governments to promote renewable energy projects, including offshore wind farms, play a significant role in driving market growth.

Transition to High Voltage Cables: The adoption of higher voltage-rated cables is gaining traction as they enable more efficient power transmission over longer distances, reducing energy loss and improving project economics.

In the realm of geographical distribution, Europe is anticipated to sustain its commanding position within the offshore wind cable market throughout the projected period. This supremacy is expected to be particularly pronounced in countries such as Germany and the UK, which are poised to serve as pivotal growth catalysts within the European market landscape.

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Top Offshore Wind Cable Companies

Offshore Wind Cable Market Competitive Landscape

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