Global Power Grid System Market Report 2022 – Size, Depth, Subsea by Component (Cables, Variable Speed Drives, Transformers, Switchgears), Application (Captive Generation, Wind Power), and Forecasts to 2027

Table Of Contents

1 Introduction
1.1 Study Objectives
1.2 Definition
1.2.1 Power Grid System Market In Subsea, By Component: Inclusions & Exclusions
1.2.2 Power Grid System Market In Subsea, By Application: Inclusions & Exclusions
1.2.3 Power Grid System Market In Subsea, By Depth: Inclusions & Exclusions
1.3 Market Scope
1.3.1 Power Grid System Market In Subsea Segmentation
1.3.2 Regional Scope
1.4 Years Considered
1.5 Currency
1.6 Limitations
1.7 Stakeholders
1.8 Summary Of Changes

2 Research Methodology
2.1 Research Data
Figure 1 Power Grid System Market In Subsea: Research Design
2.2 Market Breakdown And Data Triangulation
Figure 2 Data Triangulation Methodology
2.2.1 Secondary Data
2.2.1.1 Key Data From Secondary Sources
2.2.2 Primary Data
2.2.2.1 Key Data From Primary Sources
2.2.2.2 Breakdown Of Primaries
Figure 3 Breakdown Of Primaries
2.3 Impact Of Covid-19
2.4 Market Size Estimation
2.4.1 Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
2.4.2 Top-Down Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
2.4.3 Demand-Side Analysis
Figure 6 Main Metrics Considered While Analyzing And Assessing Demand For Subsea Power Grid Systems
2.4.3.1 Demand-Side Calculation
2.4.3.2 Assumptions For Demand-Side Analysis
2.4.4 Supply-Side Analysis
Figure 7 Main Metrics Considered In Assessing Supply For Subsea Power Grid Systems
Figure 8 Power Grid System Market In Subsea: Supply-Side Analysis
2.4.4.1 Supply-Side Calculation
2.4.4.2 Assumptions For Supply Side
2.4.5 Forecast

3 Executive Summary
Table 1 Power Grid System Market In Subsea Snapshot
Figure 9 Europe Dominated Power Grid System Market In Subsea In 2021
Figure 10 Cables Segment To Hold Largest Share Of Power Grid System Market In Subsea, By Component, During Forecast Period
Figure 11 Captive Generation Segment To Account For Largest Share Of Power Grid System Market In 2027
Figure 12 Deepwater Segment To Witness Higher Growth Rate In Power Grid System Market In Subsea, By Depth, During Forecast Period

4 Premium Insights
4.1 Attractive Opportunities In Power Grid System Market In Subsea
Figure 13 Increasing Deepwater Exploration Due To Depleting Onshore Fossil Fuel Reserves To Drive Power Grid System Market In Subsea, 2022–2027
4.2 Power Grid System Market In Subsea, By Region
Figure 14 North American Power Grid System Market In Subsea To Grow At Highest Cagr During Forecast Period
4.3 European Power Grid System Market In Subsea, By Application And Country
Figure 15 Wind Power Segment And Uk Dominated Power Grid System Market In Subsea, By Application And Country, Respectively, In 2021
4.4 Power Grid System Market In Subsea, By Depth
Figure 16 Shallow Water Segment To Account For Larger Share Than Deepwater Segment In 2027
4.5 Power Grid System Market In Subsea, By Component
Figure 17 Cables Segment To Account For Larger Share In 2027
4.6 Power Grid System Market In Subsea, By Application
Figure 18 Captive Generation Segment To Account For Largest Share In 2027

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 19 Power Grid System Market In Subsea: Market Drivers
5.2.1 Drivers
5.2.1.1 Increased Deepwater Oil And Gas Exploration Activities Due To Depleting Onshore Fossil Fuel Reserves
Table 2 Oil Reserves (Billion Barrels), By Country, 2021
5.2.1.2 Favorable Government Policies For Offshore Renewable Power Production, Especially Using Wind Energy
Figure 20 Global Energy Supply Investment, By Sector, 2019–2021
Figure 21 New Wind Power Installations, 2020
Figure 22 Growth Of Wind Power Capacity From 2021 To 2025, By Region (Mw)
5.2.1.3 Urgent Need To Reduce Carbon Emissions And Improve Grid Reliability And Efficiency
5.2.2 Restraints
5.2.2.1 High Operational And Technological Risks
5.2.2.2 Greater Energy Losses Witnessed During Long-Distance Power Transmission
5.2.3 Opportunities
5.2.3.1 Potential Of Tidal Energy To Meet Subsea Power Requirements
5.2.3.2 Easy Access Of Wind Turbine Technology To Offshore Locations
5.2.4 Challenges
5.2.4.1 Shortage Of Technical Professionals In Subsea Industry
5.2.4.2 Low Cost Of Onshore Electricity Generation
5.2.4.3 Climatic Challenges Pertaining To Operations Of Offshore Wind Farms
5.3 Supply Chain Analysis
Figure 23 Power Grid System Market In Subsea: Supply Chain Analysis
5.3.1 Grid Manufacturer
5.3.2 Grid Infrastructure Installer
5.3.3 End User
5.4 Porter’s Five Forces Analysis
Figure 24 Power Grid System Market In Subsea: Porter’s Five Forces Analysis
Table 3 Power Grid System Market In Subsea: Porter’s Five Forces Analysis
5.4.1 Threat Of New Entrants
5.4.2 Bargaining Power Of Suppliers
5.4.3 Bargaining Power Of Buyers
5.4.4 Threat Of Substitutes
5.4.5 Degree Of Competition
5.5 Patent Analysis
Table 4 Patents Related To Offshore Wind And Oil & Gas

6 Power Grid System Market In Subsea, By Component
6.1 Introduction
Figure 25 Power Grid System Market In Subsea, By Component, 2021
Table 5 Power Grid System Market In Subsea, By Component, 2020–2027 (Usd Million)
6.2 Cables
6.2.1 Rise In Demand From Offshore Wind And Oil & Gas Industries To Boost Growth Of Market For Cables
Table 6 Cables: Power Grid System Market In Subsea, By Region, 2020–2027 (Usd Million)
6.3 Variable Speed Drives
6.3.1 Reduction In Cabling Cost To Drive Growth Of Market For Variable Speed Drives During Forecast Period
Table 7 Variable Speed Drives: Power Grid System Market In Subsea, By Region, 2020–2027 (Usd Million)
6.4 Transformers
6.4.1 Growth In Offshore Oil & Gas Exploration And Production Activities To Boost Market Growth In Coming Years
Table 8 Transformers: Power Grid System Market In Subsea, By Region, 2020–2027 (Usd Million)
6.5 Switchgears
6.5.1 Need For Safe, Efficient, And Reliable Power Supply To Accelerate Creates Demand For Switchgears
Table 9 Switchgears: Power Grid System Market In Subsea, By Region, 2020–2027 (Usd Million)
6.6 Others
Table 10 Others: Power Grid System Market In Subsea, By Region, 2020–2027 (Usd Million)

7 Power Grid System Market In Subsea, By Application
7.1 Introduction
Figure 26 Power Grid System Market In Subsea, By Application, 2021
Table 11 Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
7.2 Wind Power
7.2.1 Surging Use Of Subsea Power Cables For Long-Distance Power Transmission By Offshore Wind Power Generation Plants
Table 12 Wind Power: Power Grid System Market In Subsea, By Region, 2020–2027 (Usd Million)
7.3 Captive Generation
7.3.1 Increasing Subsea Operations And Rising Number Of Deepwater Drilling Activities Accelerate Demand For Subsea Power Grid Systems
Table 13 Captive Generation: Power Grid System Market In Subsea, By Region, 2020–2027 (Usd Million)
7.4 Others
Table 14 Others: Power Grid System Market In Subsea, By Region, 2020–2027 (Usd Million)

8 Power Grid System Market In Subsea, By Depth
8.1 Introduction
Figure 27 Power Grid System Market In Subsea, By Depth, 2021
Table 15 Power Grid System Market In Subsea, By Depth, 2020–2027 (Usd Million)
8.2 Shallow Water
8.2.1 Lower Costs Associated With Shallow Water Projects Than Deepwater Projects To Drive Market Growth
Table 16 Shallow Water: Power Grid System Market In Subsea, By Region, 2020–2027 (Usd Million)
8.3 Deepwater
8.3.1 Increasing Offshore Oil And Gas Exploration And Production Activities In Deepwater To Drive Market Growth
Table 17 Deepwater: Power Grid System Market In Subsea, By Region, 2020–2027 (Usd Million)

9 Power Grid System Market In Subsea, By Region
9.1 Introduction
Figure 28 North America To Register Highest Cagr In Power Grid System Market In Subsea During Forecast Period
Figure 29 Region-Wise Share Analysis Of Power Grid System Market In Subsea,2021
Table 18 Power Grid System Market In Subsea, By Region, 2020–2027 (Usd Million)
9.2 Europe
Figure 30 Snapshot: Power Grid System Market In Subsea In Europe
9.2.1 By Component
Table 19 Europe: Power Grid System Market In Subsea, By Component, 2020–2027 (Usd Million)
9.2.2 By Application
Table 20 Europe: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.2.3 By Depth
Table 21 Europe: Power Grid System Market In Subsea, By Depth, 2020–2027 (Usd Million)
9.2.4 By Country
Table 22 Europe: Power Grid System Market In Subsea, By Country, 2020–2027 (Usd Million)
9.2.4.1 Germany
9.2.4.1.1 Government Initiatives To Expand Offshore Wind Power Capacity To Boost Market Growth
Table 23 Germany: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.2.4.2 Russia
9.2.4.2.1 New Offshore Drilling Activities To Accelerate Market Growth
Table 24 Russia: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.2.4.3 Norway
9.2.4.3.1 Increase In Deepwater Oil & Gas Exploration Activities In Norwegian Continental Shelf Fuels Market Growth
Table 25 Norway: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.2.4.4 Uk
9.2.4.4.1 Government Focus On Increasing Offshore Wind Capacity To Spur Demand For Subsea Power Grid Systems
Table 26 Uk: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.2.4.5 Netherlands
9.2.4.5.1 Huge Investments In Offshore Wind Projects To Promote Market Growth
Table 27 Netherlands: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.2.4.6 Denmark
9.2.4.6.1 Significant Investments In Offshore Wind Industry To Push Market Growth
Table 28 Denmark: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.2.4.7 Rest Of Europe
Table 29 Rest Of Europe: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.3 Asia Pacific
Figure 31 Snapshot: Power Grid System Market In Subsea In Asia Pacific
9.3.1 By Component
Table 30 Asia Pacific: Power Grid System Market In Subsea, By Component, 2020–2027 (Usd Million)
9.3.2 By Application
Table 31 Asia Pacific: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.3.3 By Depth
Table 32 Asia Pacific: Power Grid System Market In Subsea, By Depth, 2020–2027 (Usd Million)
9.3.4 By Country
Table 33 Asia Pacific: Power Grid System Market In Subsea, By Country, 2020–2027 (Usd Million)
9.3.4.1 China
9.3.4.1.1 Considerable Investments In Renewable Energy Projects And Strong Commitment Toward Decarbonization To Stimulate Market Growth
Table 34 China: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.3.4.2 India
9.3.4.2.1 Upcoming Projects For Offshore Wind Production Are Likely To Drive Market Growth
Table 35 India: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.3.4.3 Japan
9.3.4.3.1 Active Participation Of Government In Offshore Wind Production And Promoting Wind Farm Developers
Table 36 Japan: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.3.4.4 South Korea
9.3.4.4.1 Rise In Offshore Wind Installations In South Korea To Support Market Growth
Table 37 South Korea: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.3.4.5 Taiwan
9.3.4.5.1 Elevated Offshore Energy Requirements And Thriving Renewable Energy Industry To Fuel Market Growth
Table 38 Taiwan: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.3.4.6 Rest Of Asia Pacific
Table 39 Rest Of Asia Pacific: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.4 North America
9.4.1 By Component
Table 40 North America: Power Grid System Market In Subsea, By Component, 2020–2027 (Usd Million)
9.4.2 By Application
Table 41 North America: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.4.3 By Depth
Table 42 North America: Power Grid System Market In Subsea, By Depth, 2020–2027 (Usd Million)
9.4.4 By Country
Table 43 North America: Power Grid System Market In Subsea, By Country, 2020–2027 (Usd Million)
9.4.4.1 Us
9.4.4.1.1 Increasing Number Of Offshore Wind Projects And Growing Need To Improve Oil And Gas Production Output To Surge Requirement For Subsea Power Grid Systems
Table 44 Us: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.4.4.2 Canada
9.4.4.2.1 Rising Focus And Growing Investments In Offshore Wind Projects To Provide Lucrative Opportunities
Table 45 Canada: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.4.4.3 Mexico
9.4.4.3.1 Increasing Capex And Investments Toward Offshore E&P Activities And Elevating Energy Requirements To Boost Demand For Subsea Power Grid Systems
Table 46 Mexico: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.5 Middle East & Africa
9.5.1 By Component
Table 47 Middle East & Africa: Power Grid System Market In Subsea, By Component, 2020–2027 (Usd Million)
9.5.2 By Application
Table 48 Middle East & Africa: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.5.3 By Depth
Table 49 Middle East & Africa: Power Grid System Market In Subsea, By Depth, 2020–2027 (Usd Million)
9.5.4 By Country
Table 50 Middle East & Africa: Power Grid System Market In Subsea, By Country, 2020–2027 (Usd Million)
9.5.4.1 Saudi Arabia
9.5.4.1.1 Saudi Arabia To Be Fastest-Growing Market In Mea During Forecast Period
Table 51 Saudi Arabia: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.5.4.2 Uae
9.5.4.2.1 Uae To Account For Largest Share Of Middle Eastern & African Market Throughout Forecast Period
Table 52 Uae: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.5.4.3 Qatar
9.5.4.3.1 Country’s Focus On Offshore Drilling Activities Is Likely To Propel Growth Of Power Grid System Market In Subsea
Table 53 Qatar: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.5.4.4 Rest Of Middle East & Africa
Table 54 Rest Of Middle East & Africa: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.6 South America
9.6.1 By Component
Table 55 South America: Power Grid System Market In Subsea, By Component, 2020–2027 (Usd Million)
9.6.2 By Application
Table 56 South America: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.6.3 By Depth
Table 57 South America: Power Grid System Market In Subsea, By Depth, 2020–2027 (Usd Million)
9.6.4 By Country
Table 58 South America: Power Grid System Market In Subsea, By Country, 2020–2027 (Usd Million)
9.6.4.1 Brazil
9.6.4.1.1 Direct Investments By Foreign Companies In Oil & Gas Projects And Growing Deepwater Exploration Activities To Foster Market Growth
Table 59 Brazil: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.6.4.2 Argentina
9.6.4.2.1 Prime Focus On Offshore Gas Exploration And Production Activities And Favorable Government Policies To Support Market Growth
Table 60 Argentina: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)
9.6.4.3 Rest Of South America
Table 61 Rest Of South America: Power Grid System Market In Subsea, By Application, 2020–2027 (Usd Million)

10 Competitive Landscape
10.1 Key Players Strategies
Table 62 Overview Of Key Strategies Adopted By Top Players, January 2018–March 2022
10.2 Market Share Analysis Of Top Five Players
Table 63 Power Grid System Market In Subsea: Degree Of Competition
Figure 32 Power Grid System Market In Subsea: Market Share Analysis, 2021
10.3 Revenue Analysis Of Top Market Players
Figure 33 Revenue Of Top Players In Power Grid System Market In Subsea From 2016 To 2021
10.4 Company Evaluation Quadrant
10.4.1 Star
10.4.2 Pervasive
10.4.3 Emerging Leader
10.4.4 Participant
Figure 34 Competitive Leadership Mapping: Power Grid System Market In Subsea, 2021
10.5 Power Grid System Market In Subsea: Company Footprint
Table 64 By Component: Company Footprint
Table 65 By Application: Company Footprint
Table 66 By Region: Company Footprint
Table 67 Company Footprint
10.6 Competitive Scenario
Table 68 Power Grid System Market In Subsea: Deals, March 2021–February 2022
Table 69 Power Grid System Market In Subsea: Others, September 2019–March 2022

11 Company Profiles
11.1 Key Players
(Business And Financial Overview, Products/Services Offered, Recent Developments, Deals, Mnm View, Key Strengths/Right To Win, Strategic Choices Made, Weakness/Competitive Threats)*
11.1.1 Abb
Table 70 Abb: Business Overview
Figure 35 Abb: Company Snapshot, 2021
Table 71 Abb: Products/Services Offered
Table 72 Abb: Deals
Table 73 Abb: Others
11.1.2 Siemens Energy
Table 74 Siemens Energy: Business Overview
Figure 36 Siemens Energy: Company Snapshot, 2021
Table 75 Siemens Energy: Products/Services Offered
Table 76 Siemens Energy: Others
11.1.3 General Electric
Table 77 General Electric: Business Overview
Figure 37 General Electric: Company Snapshot, 2021
Table 78 General Electric: Products/Services Offered
Table 79 General Electric: Deals
Table 80 General Electric: Others
11.1.4 Prysmian Group
Table 81 Prysmian Group: Business Overview
Figure 38 Prysmian Group: Company Snapshot, 2020
Table 82 Prysmian Group: Products/Services Offered
Table 83 Prysmian Group: Deals
Table 84 Prysmian Group: Others
11.1.5 Nexans
Table 85 Nexans: Business Overview
Figure 39 Nexans: Company Snapshot, 2020
Table 86 Nexans: Products/Services Offered
Table 87 Nexans: Deals
Table 88 Nexans: Others
11.1.6 Baker Hughes
Table 89 Baker Hughes: Business Overview
Figure 40 Baker Hughes: Company Snapshot, 2021
Table 90 Baker Hughes: Products/Services Offered
Table 91 Baker Hughes: Others
11.1.7 Schlumberger
Table 92 Schlumberger: Business Overview
Figure 41 Schlumberger: Company Snapshot, 2021
Table 93 Schlumberger: Products/Services Offered
Table 94 Schlumberger: Others
11.1.8 Technipfmc
Table 95 Technipfmc: Business Overview
Figure 42 Technipfmc: Company Snapshot, 2021
Table 96 Technipfmc: Products/Services Offered
Table 97 Technipfmc: Deals
Table 98 Technipfmc: Others
11.1.9 Aker Solutions Asa
Table 99 Aker Solutions Asa: Business Overview
Figure 43 Aker Solutions Asa: Company Snapshot, 2020
Table 100 Aker Solutions Asa: Products/Services Offered
Table 101 Aker Solutions Asa: Deals
Table 102 Aker Solutions Asa: Others
11.1.10 Nkt
Table 103 Nkt: Business Overview
Figure 44 Nkt: Company Snapshot, 2021
Table 104 Nkt: Products/Services Offered
Table 105 Nkt: Deals
Table 106 Nkt: Others
11.1.11 Oceaneering International
Table 107 Oceaneering International: Business Overview
Figure 45 Oceaneering International: Company Snapshot, 2021
Table 108 Oceaneering International: Products/Services Offered
Table 109 Oceaneering International: Others
11.1.12 Hitachi Energy
Table 110 Hitachi Energy: Business Overview
Table 111 Hitachi Energy: Products/Services Offered
Table 112 Hitachi Energy: Deals
Table 113 Hitachi Energy: Others
11.1.13 Sumitomo Electric Industries, Ltd.
Table 114 Sumitomo Electric Industries, Ltd.: Business Overview
Figure 46 Sumitomo Electric Industries, Ltd.: Company Snapshot, 2020
Table 115 Sumitomo Electric Industries, Ltd.: Products/Services Offered
Table 116 Sumitomo Electric Industries, Ltd.: Others
11.1.14 Te Connectivity
Table 117 Te Connectivity: Business Overview
Figure 47 Te Connectivity: Company Snapshot, 2021
Table 118 Te Connectivity: Products/Services Offered
11.1.15 Teledyne Marine
Table 119 Teledyne Marine: Business Overview
Table 120 Teledyne Marine: Products/Services Offered
11.2 Other Players
11.2.1 Ztt
11.2.2 Schneider Electric
11.2.3 Apar Industries Ltd.
11.2.4 Ls Cable & System Ltd.
11.2.5 Ssg Cable

*Details On Business Overview, Products Offered, Recent Developments, Deals, Mnm View, Key Strengths/Right To Win, Strategic Choices Made, Weakness/Competitive Threats Might Not Be Captured In Case Of Unlisted Companies.

12 Appendix
12.1 Insights Of Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
12.4 Available Customizations
12.5 Related Reports
12.6 Author Details