According to the business intelligence report titled ‘Offshore Wind Cable Market Size By Technology (Inter - array {11kV to 33kV, 34kV - 66kV}, Export {132 kV & Less, 132 kV & Above}), Conductor Material (Aluminum, Copper) Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, global offshore wind cable market is projected to witness considerable expansion between 2020-2026.
 

Surging consumption and demand for energy from emerging economies, along with introduction of stringent regulations to decrease GHG emissions are key factors stimulating global offshore wind cable market growth.
 

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For the unversed, the main function of offshore wind cables is to connect mainland power grids with offshore wind energy harvesting facilities and help in transporting the energy harvested by them to the mainland.
 

Notably, there are two types of cables (standard and dynamic) which are used to perform different types of functions. While standard transmission cables are meant to work in conditions that vary highly from those designed for floating offshore structures, dynamic cables are used in high degrees of electrical and mechanical stress.
 

Moreover, capability of offshore wind cables to provide reliable intra-facility and store-to-farm connectivity, surveillance, and oceanographic monitoring will also spur industry expansion in the forthcoming years.
 

Based on conductor material, worldwide offshore wind cable market is bifurcated into copper, and aluminum. Moving on to technology terrain, the business sphere is divided into export (132 kV & above, 132 kV & less), and inter-array (34 kV to 66 kV, 11 kV to 33 kV)
 

From the regional frame of reference, global offshore wind cable industry report analyses this domain based on regions such as North America, Asia Pacific, Europe, and rest of the world. Among these, Asia Pacific market is projected to showcase lucrative growth trends over 2020-2026, due to surging demand for electricity, and growing focus toward adoption of sustainable energy.
 

Meanwhile, Europe market is anticipated to expand substantially over the forecast duration, owing to long term investments & positive outlook towards offshore wind energy. Also, technical potential will proliferate offshore wind cable industry share held by North America.
 

Key players profiled in worldwide offshore wind cable market report are Leoni AG, Nexans S.A., ZTT International Limited, Hydro Group Ltd., Cablel Hellenic Cables Group, Parker-Hannifin Corporation, Prysmian S.p.A, NKT A/S, Furukawa Electric Co. Ltd., Hengtong Marine Cable Systems Co. Ltd., Fujikura Ltd., Sumitomo Electric Industries Ltd., JDR Cable Systems, LS Cable & System Ltd., and Ningbo Orient Wires & Cables Co. Ltd.