As per MRFR analysis, the China Submarine Power Cable Market Size was estimated at 1.38 (USD Billion) in 2023. The China Submarine Power Cable Market Industry is expected to grow from 1.5(USD Billion) in 2024 to 5.2 (USD Billion) by 2035. The China Submarine Power Cable Market CAGR (growth rate) is expected to be around 11.965% during the forecast period (2025 - 2035).
The primary driver of the substantial growth in the China Submarine Power Cable Market is the growing emphasis on renewable energy sources, particularly offshore wind power. The Chinese government is increasing its investments in renewable energy as part of its strategy to promote sustainable development and reduce carbon emissions. This is resulting in an increased demand for submarine power cables to facilitate the efficient transmission of electricity from offshore wind farms to the mainland.
Additionally, the expansion of undersea infrastructure projects, such as inter-island and inter-country power transmission lines, offers industry participants the opportunity to improve the reliability and connectivity of the energy supply. The trend of technological advancements in submarine power cable production is also influenced by the drive for renewable energy integration, with a particular emphasis on enhancing durability and efficiency. Companies are investing in research and development to develop cables that can withstand the severe marine environment, thereby improving the reliability of the energy distribution supply chain.
Furthermore, the expansion of electric vehicle infrastructure in China is encouraging the development of innovative submarine cable solutions, which will facilitate the sharing of power across regions. Additionally, there are opportunities to be capitalized on through international partnerships and collaborations.Submarine power cables can facilitate energy commerce with neighboring countries, aligning with the Belt and Road Initiative objectives, as China seeks to expand its influence beyond its borders.
The demand for high-capacity cables is on the rise, as the existing infrastructure is unable to satisfy the increasing energy demands of rapidly expanding urban centers, as evidenced by recent trends. In conclusion, the submarine power cable market in China is characterized by its dynamic nature, which is emphasized by the convergence of government initiatives, technological advancements, and international cooperation.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Growing Demand for Renewable Energy Sources
The increasing focus on renewable energy in China is a significant driver for the China Submarine Power Cable Market Industry. The Chinese government has set ambitious targets for renewable energy generation, aiming for over 1,200 gigawatts (GW) of total installed capacity by 2030, according to the National Energy Administration. This push for renewables necessitates extensive submarine power cable infrastructure to connect offshore wind farms and solar energy plants to the mainland grid.Established organizations like State Grid Corporation of China are actively investing in the development of submarine cable projects to ensure efficient energy transmission and support the country's transition to green energy. The investment in this sector has been marked by billions of dollars allocated toward offshore energy initiatives, contributing to the demand for submarine power cables.
Investment in Infrastructure Development
China's commitment to upgrading and expanding its energy infrastructure is a pivotal driver in the China Submarine Power Cable Market Industry. The government has announced significant investments amounting to over 3 trillion Yuan (approximately USD 450 billion) for infrastructure development, as part of its Five-Year Plan. This investment includes enhancing power transmission systems and interconnecting energy networks, which directly fuels the demand for advanced submarine power cables.Companies like China National Offshore Oil Corporation (CNOOC) are collaborating with local governments on initiatives that involve submarine cable installations for energy transport, thereby driving market growth.
Rising Urbanization and Electrification Needs
The rapid urbanization in China, with over 60% of the population projected to live in urban areas by 2035, is accelerating the need for reliable electricity supply. To accommodate this urban expansion, the China Submarine Power Cable Market Industry is witnessing an uptick in projects aimed at boosting electrical connectivity across coastal cities. It is estimated that urbanized regions will require around 300 gigawatts (GW) of additional power capacity by 2035.This requirement necessitates the implementation of submarine power cables to ensure stable energy supply, while organizations such as the China Electric Power Research Institute are contributing by researching and developing newer, more efficient cable technologies that align with these increasing demands.
The China Submarine Power Cable Market is prominently segmented by Type, with significant focus areas being alternating current (AC) and direct current (DC). The AC segment has gained traction due to the increasing need for efficient transmission of electricity over long distances, which aligns with China's rapid urbanization and industrialization efforts. This segment is essential for connecting offshore wind farms to the grid and enables reliable power distribution, catering to the growing energy demands across major cities throughout the country.
On the other hand, the DC segment plays an integral role in long-distance and high-capacity power transmission, particularly in conjunction with renewable energy sources. DC technology is also favored for its lower line losses compared to AC, making it a cost-effective solution for large-scale renewable projects, such as solar parks and wind farms situated offshore. With China committing to aggressive renewable energy targets as part of its environmental initiatives and clean energy goals, both AC and DC types are poised for substantial growth.In addition, the development of flexible AC transmission systems and high-voltage direct current projects further highlights their significance in enhancing grid stability and integrating renewable energy sources efficiently.
There is a noticeable trend towards adopting advanced technologies such as subsea cable systems that utilize both AC and DC transmission capabilities, which showcases the market's adaptability and evolution in response to changing energy trends. This dynamic creates an landscape filled with opportunities, and as China progresses toward a sustainable energy future, the demand for both AC and DC submarine power cables will continue to rise, thus driving market advancements and innovations in the China Submarine Power Cable Market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The China Submarine Power Cable Market, particularly the Core Type segment, plays a pivotal role in ensuring efficient energy transmission across vast distances, especially in an expanse as geographically diverse as China. This segment is primarily divided into Single Core and Multi-Core configurations, each serving distinct applications and operational requirements. Single Core cables are crucial for streamlined, high-capacity transmission, often utilized in long-distance connections, providing simplicity and reducing installation complexities.Conversely, Multi-Core cables cater to more intricate network requirements, enabling multiple transmission lines within a single cable assembly, which allows for improved power distribution and redundancy.
The demand for both configurations is closely tied to China's vast investments in renewable energy projects and maritime infrastructure development. Furthermore, the ongoing transition towards cleaner energy sources in the country is driving innovations within this segment, ensuring that the technology continues to evolve in response to the energy sector's needs.With growing urbanization and industrialization, the importance of robust submarine power networks is becoming increasingly pronounced, leading to significant opportunities for growth and advancement in the Core Type segment of the market in China.
The China Submarine Power Cable Market's Insulation Type segment plays a crucial role in ensuring reliable and efficient power transmission over long distances under water. Cross-Linked Polyethylene (XLPE) is a prominent choice due to its excellent thermal resistance, mechanical strength, and long service life, making it suitable for high-voltage applications. This insulation type dominates the market as it effectively supports China’s growing energy needs and renewable energy projects, integrating offshore wind and solar farms. On the other hand, Ethylene Propylene Rubber (EPR) offers flexibility and excellent electrical properties, making it ideal for dynamic conditions often found in marine environments.
EPR is particularly important in areas with varying temperatures and movement, as it provides superior resistance to moisture and environmental factors. The demand for both insulation types is fueled by the increasing emphasis on sustainable energy solutions and infrastructure development in China's coastal regions. Overall, the Insulation Type segment significantly impacts the China Submarine Power Cable Market, driving innovations and appealing to evolving regulatory standards aimed at enhancing energy efficiency and environmental protection.
The China Submarine Power Cable Market, particularly the Voltage segment, plays a crucial role in the nation's energy infrastructure. The market encompasses various categories, including Up to 66 KV, 66 KV-220 KV, and Above 220 KV, each with its unique characteristics and applications. The Up to 66 KV category primarily facilitates connections to offshore wind farms and smaller power distribution networks, enabling efficient energy transmission at lower voltages. Meanwhile, the 66 KV-220 KV segment is essential for medium to large-scale energy projects, supporting the growing demand for renewable energy sources and interconnecting regional grids.
The Above 220 KV category represents high-capacity transmission, pivotal for long-distance energy transport and integration of significant renewable energy generation into the grid, which aligns with China's commitment to reducing carbon emissions and enhancing energy security. As the government continues to invest in renewable energy, advancements in technology and infrastructure within these Voltage categories are expected to drive increased adoption and innovation. Overall, each category's contribution to the China Submarine Power Cable Market is significant, supporting the nation’s energy transition while ensuring reliable power delivery across its extensive geography.
The Conductor Material segment within the China Submarine Power Cable Market plays a crucial role in the overall effectiveness and performance of cables used for underwater electricity transmission. This segment primarily consists of Copper and Aluminum materials, each presenting its unique advantages and challenges. Copper is favored for its high conductivity and durability, making it ideal for long-distance power transmission, while Aluminum offers a lightweight and cost-effective alternative, which is important in reducing overall construction and installation expenses.Additionally, with the increasing focus on renewable energy sources, the demand for efficient submarine power cables made from these materials is expected to grow, driven by projects in offshore wind farms and interconnectivity initiatives.
The growing investments in renewable energy infrastructure in China underline the significance of this segment, highlighting emerging opportunities for manufacturers and suppliers. With technological advancements, both Copper and Aluminum are continually being optimized to enhance their performance in submarine cable applications.The emphasis on sustainable practices also drives further innovation in material selection and cable design, showcasing the dynamic nature of the Conductor Material segment in the ever-evolving landscape of the China Submarine Power Cable Market.
The End-Use segment of the China Submarine Power Cable Market holds significant relevance in driving the market's growth and innovation. Offshore Wind Power Generation is increasingly prominent due to China's commitment to expanding renewable energy sources, supported by the government's policies promoting sustainable development. This segment reflects the country's strategic shift towards greener energy, aided by advancements in technology and increased investments. Offshore Oil and Gas production remains pivotal, as it facilitates the transportation of energy resources critical for meeting domestic and international demands.Island Connection serves an essential role in linking remote islands to the mainland grid, ensuring energy access and reliability.
Furthermore, Wave and Tidal Power Generation are gaining traction as emerging renewable sources, aligned with China's push for diversifying energy portfolios. The combination of these segments not only emphasizes China’s technological capabilities but also underlines its dedication to achieving energy security and sustainability, enhancing the overall landscape of the China Submarine Power Cable Market. This dynamic environment presents various opportunities and challenges, especially in terms of infrastructure investment and environmental considerations, as stakeholders aim to capitalize on the growth potential within these diverse applications.
The China Submarine Power Cable Market is characterized by a dynamic competitive landscape, influenced by a combination of technological advancements, rising demand for renewable energy, and government reforms promoting offshore energy projects. With the growing need for interconnectivity between regions, the market has seen significant investments in infrastructure development, leading to an increase in the number of players engaging in submarine power cable manufacturing and installation. As the global focus shifts toward sustainable energy solutions, companies in this market are striving to innovate and enhance their offerings. Industry competitors are also navigating challenges related to material costs, regulatory frameworks, and competition from alternative energy transmission methods, all of which are shaping their strategic directions and operational efficiencies.
Nantong Rainbow Cable has established a strong foothold within the China Submarine Power Cable Market, leveraging its experience and technological expertise to cater to the growing demand for submarine cable systems. The company's strengths lie in its commitment to quality manufacturing processes and innovative product designs, which facilitate the effective transmission of electricity across vast water bodies. Nantong Rainbow Cable has managed to gain market recognition through robust partnerships with local and regional players, thereby enhancing its reach. Additionally, the company emphasizes continuous research and development, enabling it to stay ahead of competitors by introducing advanced cable solutions that meet the evolving requirements of offshore renewable energy projects.ZTT Group stands out in the China Submarine Power Cable Market with a well-rounded portfolio that includes high-voltage submarine cables, fiber optic cables, and related accessories tailored for offshore applications.
The company's strong market presence is a result of its comprehensive manufacturing capabilities and a focus on cutting-edge technologies, enabling it to deliver reliable and efficient cable solutions. ZTT Group has effectively pursued strategic mergers and acquisitions that further strengthen its competitive position within China, providing it with increased resources and expanded market access. With a focus on sustainability, the company is actively involved in initiatives involving renewable energy projects and electricity transmission, thus enhancing its operational efficiency while contributing to China's clean energy goals. Through its emphasis on innovation and strategic partnerships, ZTT Group continues to solidify its leadership in the submarine power cable sector, meeting both current and future market demands.
Recent developments in the China Submarine Power Cable Market have shown significant activity, particularly among key players like Nantong Rainbow Cable and ZTT Group, emphasizing a focus on expanding capacity to meet growing demand for renewable energy infrastructure. The ongoing investments by China Southern Power Grid and State Grid Corporation of China aim to enhance connectivity among coastal and offshore wind farms. In September 2023, Jiangsu Zhongtian Technology announced new projects in underwater cable technology aimed at increasing efficiency in power transmission. Additionally, ABB and Siemens have been increasingly active in partnerships with local firms to innovate more sustainable cable solutions.
In terms of mergers and acquisitions, in May 2023, General Cable was reported to have acquired a minority stake in a Chinese company specializing in underwater power cables, reflecting a strategic move to tap into the growing market. Furthermore, the market valuation of major players such as Nexans has been positively impacted by the growing infrastructural investments, resulting in increased competition and innovation. In 2022, Tianjin Electric Wire and Cable expanded its production capabilities in response to rising demand, solidifying its presence in the market. Overall, the Chinese market is witnessing robust growth as it transitions to greener energy solutions.
Submarine Power Cable Market Type Outlook
Submarine Power Cable Market Core Type Outlook
Submarine Power Cable Market Insulation Type Outlook
Submarine Power Cable Market Voltage Outlook
Submarine Power Cable Market Conductor Material Outlook
Submarine Power Cable Market End-Use Outlook
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 1.38(USD Billion) |
| MARKET SIZE 2024 | 1.5(USD Billion) |
| MARKET SIZE 2035 | 5.2(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 11.965% (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 | Nantong Rainbow Cable, ZTT Group, China Southern Power Grid, Tianjin Electric Wire & Cable, General Cable, Nexans, Jiangsu Zhongtian Technology, Prysmian Group, Tongguang Electric, Sinoma Technology, ABB, Huawei, Haier Group, State Grid Corporation of China, Siemens |
| SEGMENTS COVERED | Type, Core Type, Insulation Type, Voltage, Conductor Material, End-Use |
| KEY MARKET OPPORTUNITIES | Increased offshore wind projects, Government investments in renewable energy, Expansion of intercontinental power transmission, Technological advancements in cable design, Rising demand for grid interconnection solutions |
| KEY MARKET DYNAMICS | increasing renewable energy demand, technological advancements in cables, robust government investments, expanding offshore wind projects, rising urbanization and industrialization |
| COUNTRIES COVERED | China |
Frequently Asked Questions (FAQ) :
The China Submarine Power Cable Market is expected to reach a value of 1.5 billion USD in 2024.
By 2035, the market size is anticipated to grow to 5.2 billion USD.
The expected CAGR for the market from 2025 to 2035 is 11.965 percent.
In 2035, the AC submarine power cable is projected to have a larger market value of 3.2 billion USD compared to DC, which is expected to reach 2.0 billion USD.
Major players in the market include Nantong Rainbow Cable, ZTT Group, China Southern Power Grid, and Prysmian Group among others.
The market value for AC submarine power cables is expected to be 0.9 billion USD in 2024.
Potential challenges may include regulatory hurdles and competition from alternative energy transmission technologies.
The market for DC submarine power cables is valued at 0.6 billion USD in 2024.
The growth is primarily driven by increasing energy demand and the need for renewable energy integration.
Key applications of submarine power cables include offshore wind farms, inter-country electricity transfer, and grid expansion projects.
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