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    APAC Submarine Power Cable Market

    ID: MRFR/E&P/53063-HCR
    200 Pages
    Garvit Vyas
    September 2025

    APAC 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), By End-Use (Offshore Wind Power Generation, Offshore Oil & Gas, Island Connection, Wave & Tidal Power Generation) andBy Regional (China, India, Japan, South Korea, Malaysia, Thailand, Indonesia, Rest of APAC)- Forecast to 2035

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    APAC Submarine Power Cable Market Research Report — Global Forecast till 2035 Infographic
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    APAC Submarine Power Cable Market Summary

    The Asia-Pacific APAC Submarine Power Cable market is poised for substantial growth, projected to reach 15.7 USD Billion by 2035 from a base of 4.95 USD Billion in 2024.

    Key Market Trends & Highlights

    APAC Submarine Power Cable Key Trends and Highlights

    • The market is expected to grow from 4.95 USD Billion in 2024 to 15.7 USD Billion by 2035.
    • A compound annual growth rate (CAGR) of 11.06% is anticipated from 2025 to 2035.
    • Increasing demand for renewable energy sources is likely to drive the expansion of submarine power cable infrastructure.
    • Growing adoption of renewable energy technologies due to the need for sustainable energy solutions is a major market driver.

    Market Size & Forecast

    2024 Market Size 4.95 (USD Billion)
    2035 Market Size 15.7 (USD Billion)
    CAGR (2025-2035) 11.06%

    Major Players

    LS Cable & System, Telstra, ZTT, NKT, Hengtong Group, Sumitomo Electric Industries, Cinch Connectivity Solutions, Ocean Cable Technology, Nexans, Furukawa Electric, Sankey, BHI Energy, Prysmian Group, General Cable, Tengyun

    APAC Submarine Power Cable Market Trends

    Furthermore, investment in submarine infrastructure is being driven by the increasing demand for electricity in remote locations and urbanization. There are a plethora of opportunities to be capitalized on in the APAC market, particularly in countries like China and India, where renewable energy investments are surging.

    A lucrative opportunity for development is presented by the necessity of interconnecting islands and mainland electricity grids. Additionally, the growing emphasis on smart grid technology is generating a greater need for sophisticated cable systems that can facilitate the efficient distribution of energy. In recent years, there has been a trend toward the use of sophisticated materials and technologies in the production of submarine power cables, which has improved their durability and performance in harsh marine environments.The collaboration between public and private sectors to reduce costs and streamline projects is also becoming more common.

    Innovations that mitigate ecological disruption are being driven by environmental concerns regarding cable installation and maintenance, which are consistent with regional sustainability objectives.

    APAC Submarine Power Cable Market Drivers

    Market Segment Insights

    Submarine Power Cable Market Type Insights

    Submarine Power Cable Market Type Insights

    The APAC Submarine Power Cable Market is witnessing substantial growth, particularly in its Type segment, which encompasses AC and DC cables. The increasing demand for renewable energy sources and intercontinental electricity transfers has driven the implementation of submarine power cables, facilitating efficient energy distribution across vast distances. Within this segment, AC cables play a vital role due to their efficiency in transmitting alternating current over long distances, making them an integral part of the transmission network in the APAC region.This technology is well-suited for offshore wind farms and other renewable energy projects, ensuring reliable connectivity to grid systems.

    On the other hand, DC cables also hold significant importance, especially for high-voltage direct current applications, which are pivotal in connecting remote energy sources to regional consumption areas, thus reducing transmission losses. The robust growth in projects like offshore wind farms, coupled with governmental initiatives aimed at upgrading infrastructure, is propelling advancements in both AC and DC cable technologies.The increasing focus on energy security and transitioning to sustainable energy solutions makes these cables critical in fulfilling growing energy demands in the rapidly developing APAC economy.

    With its vast coastlines and growing energy markets, APAC is positioned as a leader in submarine cable installation, continuing to enhance its network capabilities for future energy needs. This focus on future-proofing energy systems underscores the importance of both AC and DC cables within the APAC Submarine Power Cable Market as countries seek efficient energy solutions to meet their respective power demands.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Submarine Power Cable Market Core Type Insights

    Submarine Power Cable Market Core Type Insights

    The APAC Submarine Power Cable Market, particularly concerning the Core Type segment, is characterized by its diversity and adaptability to various offshore and undersea transmission needs. This segment is primarily divided into two main categories: Single Core and Multi-Core cables, each with its distinct applications and advantages. Single Core cables are often preferred for direct current transmission due to their efficiency and reduced material usage, making them a dominant choice for long-distance energy transfer.

    On the other hand, Multi-Core cables offer greater capacity by facilitating the simultaneous transmission of multiple signals, making them suitable for complicated grid systems and renewable energy projects, including wind and solar farms.The growing push for sustainable energy solutions in the APAC region significantly drives the demand for both Single Core and Multi-Core submarine cables, as countries invest heavily in infrastructure to support their ambitious energy transition goals. The continual advancement of technology and materials in this sector contributes to the efficiency and reliability of submarine power cables, enabling them to meet the increasing energy demand while addressing environmental concerns.

    Furthermore, the increasing focus on interconnection projects among APAC nations underscores the strategic significance of this segment in enhancing regional energy security and promoting renewable energy integration.

    Submarine Power Cable Market Insulation Type Insights

    Submarine Power Cable Market Insulation Type Insights

    The APAC Submarine Power Cable Market, particularly focusing on the Insulation Type segment, has gained traction due to increasing demand for reliable and efficient energy transmission. Among the insulation materials, Cross-Linked Polyethylene (XLPE) and Ethylene Propylene Rubber (EPR) are significant contributors. XLPE is known for its excellent thermal resistance and electrical properties, making it a preferred choice in environments where high temperatures and electrical stresses are common.

    Meanwhile, EPR provides outstanding flexibility and durability, enabling effective operation in harsh marine conditions.The demand for these insulation types is propelled by the region's ongoing investments in renewable energy infrastructure, as countries aim to enhance their power transmission networks. The ongoing push towards energy efficiency and the need for long-distance transmission solutions in the APAC region further drive the growth of these materials. Recognizing the significant role of insulation types, stakeholders are focusing on innovation to improve performance and adapt to changing regulations in the electrical industry.

    Overall, the insights around the Insulation Type segment reveal a robust landscape with a growing emphasis on advancements and sustainability in the APAC Submarine Power Cable Market.

    Submarine Power Cable Market Voltage Insights

    Submarine Power Cable Market Voltage Insights

    The APAC Submarine Power Cable Market, particularly in the Voltage segment, exhibits a diverse range of classifications including Up to 66 KV, 66 KV-220 KV, and Above 220 KV. The segment Up to 66 KV represents a crucial component, typically utilized for connecting renewable energy sources, ensuring efficient power distribution for offshore wind farms and localized energy needs.

    The 66 KV-220 KV range is significant as it caters to medium-voltage applications, supporting the grid integration of various renewable projects while enhancing the resiliency of power systems across coastal regions.The Above 220 KV sector emerges as a dominant player in major interconnection projects, enabling high-capacity transmission over long distances, thereby addressing the growing demand for energy security and stability in the APAC region.

    With countries like China, India, and Japan investing in infrastructure and renewable energy initiatives, there is substantial momentum in the APAC Submarine Power Cable Market, propelled by government support and increasing industrialization, which offers substantial opportunities for future growth while tackling challenges such as regulatory compliance and environmental considerations.This evolving landscape not only highlights the significance of each Voltage segment but also underscores the role these components play in fostering energy sustainability across the region.

    Submarine Power Cable Market Conductor Material Insights

    Submarine Power Cable Market Conductor Material Insights

    The Conductor Material segment is a crucial component of the APAC Submarine Power Cable Market, primarily composed of materials such as copper and aluminum. These materials are essential due to their excellent electrical conductivity and durability, which make them highly suitable for underwater installations where performance and reliability are paramount.

    Copper is often preferred for its superior conductivity, allowing for reduced energy losses during transmission, while aluminum offers a lightweight alternative with lower costs, making it favorable for large-scale installations.The growing demand for renewable energy sources across the APAC region, combined with increasing underwater power transfer requirements, is driving innovations and investments in conductor materials. The expansion of offshore wind farms and interconnection projects between countries further boosts the significance of this segment. Both copper and aluminum are witnessing advancements in production processes aimed at enhancing efficiency and reducing environmental impact, which presents significant opportunities for growth in this sector.

    The focus on sustainable development across APAC also aligns with the trend towards adopting greener materials and manufacturing practices in the submarine power cable landscape, ultimately influencing the APAC Submarine Power Cable Market statistics positively.

    Submarine Power Cable Market End-Use Insights

    Submarine Power Cable Market End-Use Insights

    The End-Use segment of the APAC Submarine Power Cable Market is crucial for understanding the regional dynamics and opportunities within the industry. The Offshore Wind Power Generation category is gaining momentum due to increased investments in renewable energy sources, driven by government incentives aimed at reducing carbon footprints. Concurrently, the Offshore Oil and Gas sector remains significant as it requires reliable power transmission for drilling and extraction processes.

    The Island Connection segment highlights the need for stable energy links to isolated communities, a necessity given the rising demand for energy security and sustainability in remote areas.Meanwhile, Wave and Tidal Power Generation presents an emerging opportunity in the renewable landscape as nations focus on harnessing natural resources for clean energy. The growth of these areas is supported by advancements in technology, while regulatory support bolsters investments, making it a valuable time for stakeholders to engage in the APAC Submarine Power Cable Market.

    As countries pursue energy diversification, the importance of these End-Use applications will likely magnify, serving as a pivotal area for growth and expansion within the market.

    Get more detailed insights about APAC Submarine Power Cable Market Research Report — Global Forecast till 2035

    Regional Insights

    The APAC Submarine Power Cable Market exhibits robust growth potential across its regional segments, highlighting varying opportunities and trends. China stands as a crucial player, with significant investments in renewable energy projects driving demand for submarine power cables, underscored by its commitment to enhance its grid connectivity. India is also making substantial progress, leveraging its growing energy needs and push towards offshore wind projects, showcasing a clear developmental trajectory for submarine infrastructure.

    Japan, with its advanced technology, emphasizes high-quality cable solutions, while South Korea focuses on expanding its renewable energy capacity through strategic underwater cable installations.Malaysia, Thailand, and Indonesia are gradually increasing their investments in submarine power connectivity, essential for regional energy collaboration and addressing energy deficits. The "Rest of APAC" segment encompasses emerging markets that are beginning to recognize the importance of submarine power cables in their transition to more sustainable energy systems, driving demand across the region.

    These diverse dynamics across APAC underline the significance of regional insights in shaping the future of the Submarine Power Cable Market as countries strive for energy security and technological advancements in power transmission.

    APAC Submarine Power Cable Market Region

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Key Players and Competitive Insights

    The competitive landscape of the APAC Submarine Power Cable Market revolves around the growing demand for renewable energy sources and the need for reliable and efficient power transmission across vast distances. As economies in the region expand and infrastructure development rises, companies in this sector are increasingly focusing on innovative technologies and sustainable practices to gain a competitive edge. The market is characterized by key players investing heavily in research and development to enhance their product offerings, reduce costs, and improve performance metrics.

    The submarine power cable segment is particularly important due to its role in connecting islands, offshore wind farms, and other remote areas, thus creating opportunities for various stakeholders.LS Cable & System has established a significant presence in the APAC Submarine Power Cable Market through its advanced technological capabilities and extensive product portfolio.

    The company is recognized for its high-quality submarine cables that cater to the growing demand for energy connectivity in the region. LS Cable & System’s strengths lie in its innovation-driven approach and its ability to manufacture cables that meet international standards. The company's commitment to sustainability and environmental responsibility further enhances its reputation as a reliable partner in critical infrastructure projects.

    Additionally, LS Cable & System's expansive manufacturing facilities across the region allow it to respond swiftly to market demands and customer needs, positioning it competitively among its peers.Telstra is another prominent player in the APAC Submarine Power Cable Market, known primarily for its telecommunications services but also actively involved in the provision of submarine cable infrastructure.

    The company offers a range of products and services related to submarine power cables, reflecting its commitment to enhancing energy connectivity in the region. Telstra's strengths stem from its extensive experience in managing large-scale projects and its established network, which complements its submarine cable offerings. With ongoing investments in upgrading its infrastructure and potential strategic partnerships, Telstra is positioned to play a pivotal role in upcoming submarine cable projects across the APAC region.

    The company is also keen on exploring opportunities through mergers and acquisitions, which could further expand its capabilities and market reach, allowing it to maintain a competitive edge in the dynamic APAC submarine power cable landscape.

    Key Companies in the APAC Submarine Power Cable Market market include

    Industry Developments

    Recent developments in the APAC Submarine Power Cable Market indicate a surge in demand for renewable energy infrastructure, particularly in countries like Japan, China, and India. The growing investments in offshore wind farms and interconnection projects are driving this demand. Notably, Prysmian Group has made significant strides by securing contracts for submarine cable systems in the region, and Nexans has also expanded its manufacturing capabilities to cater to this increasing requirement in 2023.

    Meanwhile, in terms of mergers and acquisitions, LS Cable and System announced the acquisition of a significant stake in Ocean Cable Technology in March 2023, a move aimed at bolstering its position in the APAC market. Growth in this sector is evident as ZTT and Hengtong Group report enhanced revenues due to their expanding project pipelines in submarine cable projects. Furthermore, the governments of APAC nations are now prioritizing initiatives that promote underwater cable projects, reflecting the strategic importance of submarine power cables in achieving energy transition goals.

    Overall, the combination of expanding infrastructure requirements, government support, and strategic mergers is shaping the APAC submarine power cable landscape.

    Market Segmentation

    Outlook

    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Thailand
    • Indonesia
    • Rest of APAC
    •  
    • Beta

    Report Scope

     
    Report Attribute/Metric Source: Details
    MARKET SIZE 2023 4.61(USD Billion)
    MARKET SIZE 2024 4.95(USD Billion)
    MARKET SIZE 2035 15.7(USD Billion)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 11.064% (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 LS Cable & System, Telstra, ZTT, NKT, Hengtong Group, Sumitomo Electric Industries, Cinch Connectivity Solutions, Ocean Cable Technology, Nexans, Furukawa Electric, Sankey, BHI Energy, Prysmian Group, General Cable, Tengyun
    SEGMENTS COVERED Type, Core Type, Insulation Type, Voltage, Conductor Material, End-Use, Regional
    KEY MARKET OPPORTUNITIES Increased investment in renewable energy, Expansion of offshore wind farms, Growing inter-island electrical connections, Government initiatives for infrastructure development, Advancements in cable technology
    KEY MARKET DYNAMICS Increasing renewable energy investments, Growing offshore wind farms, Expanding inter-country connectivity projects, Rising electricity demand, Technological advancements in cable design
    COUNTRIES COVERED China, India, Japan, South Korea, Malaysia, Thailand, Indonesia, Rest of APAC

    Market Highlights

    Author
    Garvit Vyas
    Analyst

    Explore the profile of Garvit Vyas, one of our esteemed authors at Market Research Future, and access their expert research contributions in the field of market research and industry analysis

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    FAQs

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

    The APAC Submarine Power Cable Market is expected to be valued at 4.95 USD Billion in 2024.

    What is the projected market size of the APAC Submarine Power Cable Market by 2035?

    By 2035, the APAC Submarine Power Cable Market is projected to reach a value of 15.7 USD Billion.

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

    The expected Compound Annual Growth Rate (CAGR) for the APAC Submarine Power Cable Market from 2025 to 2035 is 11.064%.

    Which country is expected to hold the largest market share in the APAC Submarine Power Cable Market in 2024?

    China is expected to hold the largest market share in the APAC Submarine Power Cable Market with a value of 2.0 USD Billion in 2024.

    What are the expected market values for AC and DC submarine power cables in 2024?

    The market value for AC submarine power cables is anticipated to be 2.97 USD Billion, while DC submarine power cables are valued at 1.98 USD Billion in 2024.

    What is the market value for India in the APAC Submarine Power Cable Market by 2035?

    India's market value in the APAC Submarine Power Cable Market is expected to reach 4.0 USD Billion by 2035.

    Who are the key competitors in the APAC Submarine Power Cable Market?

    Key competitors in the APAC Submarine Power Cable Market include LS Cable & System, Telstra, ZTT, NKT, and Prysmian Group.

    What is the market growth potential for Japan in the submarine power cable sector?

    By 2035, Japan's submarine power cable market is expected to grow to 2.6 USD Billion.

    What growth opportunities exist in the APAC Submarine Power Cable Market?

    There are significant growth opportunities in renewable energy applications and infrastructure development across the region.

    What are the market values for South Korea and Malaysia in 2024?

    In 2024, South Korea's market value is projected at 0.7 USD Billion and Malaysia's at 0.15 USD Billion in the APAC Submarine Power Cable Market.

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