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Global Subsea Power Grid Systems Industry (2020 to 2027) - Market Trajectory & Analytics - ResearchAndMarkets.com

·3-min read

DUBLIN, August 05, 2021--(BUSINESS WIRE)--The "Subsea Power Grid Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Amid the COVID-19 crisis, the global market for Subsea Power Grid Systems estimated at US$2.7 Billion in the year 2020, is projected to reach a revised size of US$5.4 Billion by 2027, growing at a CAGR of 10.5% over the analysis period 2020-2027.

Captive Generation, one of the segments analyzed in the report, is projected to record a 9.9% CAGR and reach US$3.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Wind Power segment is readjusted to a revised 10.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $725.1 Million, While China is Forecast to Grow at 13.9% CAGR

The Subsea Power Grid Systems market in the U.S. is estimated at US$725.1 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2027 trailing a CAGR of 13.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.3% and 9.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.3% CAGR.

Other Power Supplies Segment to Record 13.1% CAGR

In the global Other Power Supplies segment, USA, Canada, Japan, China and Europe will drive the 12.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$267.7 Million in the year 2020 will reach a projected size of US$608.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$781.5 Million by the year 2027, while Latin America will expand at a 14.6% CAGR through the analysis period.

Select Competitors (Total 40 Featured):

  • ABB Ltd.

  • Aker Solutions ASA

  • Bandak AS

  • Dril-Quip, Inc.

  • Expro Group

  • General Electric Company

  • JDR Cable Systems Ltd.

  • Nexans SA

  • Norddeutsche Seekabelwerke GmbH

  • Oceaneering International, Inc.

  • OneSubsea, A Schlumberger Company

  • Parker Hannifin Corporation

  • Prysmian Group

  • Siemens AG

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights

  • World Market Trajectories

  • Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/x2iqc7

View source version on businesswire.com: https://www.businesswire.com/news/home/20210805005811/en/

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