세계의 해저 송전망 시스템 시장 규모는 2024년 21억 2,000만 달러에서 예측 기간 중 CAGR 7.89%로 추이하며, 2032년에는 38억 9,000만 달러로 성장할 것으로 예측됩니다.
해저 송전망 시스템 시장은 최근 해저 전력 관리의 효율적인 인프라 솔루션에 대한 수요 증가로 인해 크게 성장하고 있으며, 원격지 및 열악한 해양 환경에서의 재생에너지 프로젝트가 증가함에 따라 앞으로도 강력한 성장이 지속될 것으로 예측됩니다. 각국이 탈탄소화 및 지속가능한 환경으로의 전환을 위해 재생에너지 프로젝트에 대한 투자가 활발해지고 있으며, 이는 향후 해저 송전망 수요 증가를 가속화하고 있습니다. 기업은 국가 및 지역 간 전력 상호연계를 구축하기 위해 노력하고 있으며, 이는 해저 송전망 시스템에 대한 시장 수요를 더욱 증가시키고 있습니다.
특히 해상풍력, 파력, 조력 발전소 등 해상 재생에너지 설비의 급속한 확대와 심해 석유 및 가스 채굴 활동의 전기화도 예측 기간 중 시장 성장을 촉진할 것으로 예측됩니다. 또한 정부 및 민간 부문은 에너지원 다변화 및 에너지 안보 강화를 위해 해양 재생에너지 분야에 많은 투자를 하고 있으며, 이는 해저 송전망에 대한 수요를 촉진하고 있습니다. 또한 해저 송전망 시스템은 에너지 저장 기능과의 통합, AI를 통한 예지보전 도입이 가능하며, 이러한 기술 혁신은 향후 시장 성장을 위한 큰 사업 기회로 작용하고 있습니다.
세계의 해저 송전망 시스템의 시장을 조사했으며, 시장의 정의와 개요, 시장 규모 추이·예측, 각종 구분별 상세 분석, 사례 연구, 시장 성장에 대한 영향요인의 분석, 경쟁 구도, 주요 기업의 개요 등을 정리하여 전해드립니다.
Global subsea power grid system market is projected to witness a CAGR of 7.89% during the forecast period 2025-2032, growing from USD 2.12 billion in 2024 to USD 3.89 billion in 2032. The subsea power grid system market has experienced significant growth in recent years due to rising demand for efficient infrastructure solutions for managing power beneath the ocean's surface and a boost in the renewable energy projects in remote and challenging marine locations is expected to maintain a strong pace of expansion in the coming years. As countries are looking to transition towards a decarbonization and sustainable environment, robust investment in renewable energy projects which accelerate the demand for subsea power grids in the coming years. Companies are looking to establish interconnections between the countries and regions which further accelerate the demand for subsea power grid system in the market.
For instance, as of July 2024, Power Grid Corporation of India has planning to invest around USD 40 billion for developing the infrastructure project of subsea interconnection with the Middle East. This ambitious project aims to establish a robust energy link between India and the Middle East over the next five years. The rising investment in interconnection for regions to fulfill energy demand will drive the demand for subsea power grid systems in the market.
The rapid expansion of offshore renewable energy installations, particularly wind, wave, and tidal farms, as well as the ongoing electrification of deepwater oil and gas extraction activities contributing to market growth in the forecast period. Furthermore, the governments and private sector stakeholders are investing heavily in offshore renewable energy sector developments to diversify energy sources and enhance energy security, thus driving the demand for subsea power grids in the market. Moreover, the subsea power grid systems are able to integrate of energy storage, and the adoption of AI-driven predictive maintenance which is witnessing significant opportunities for market growth in the coming years.
Rising Investment in Offshore Renewable Energy Projects Amplifying Market Growth
Several developments are emerging in offshore renewable energy projects, including an increase in investment in floating and fixed solar and wind plants, which is becoming a major catalyst, amplifying market growth for subsea power grid systems. Fulfilling the rising demand for renewable energy and achieving highly ambitious clean energy targets results in the deployment of renewable power generation plants on sea surface. Governments and utility companies are channeling substantial capital into offshore wind and solar developments, which leads to a rise in demand for the subsea power grid system in the market. Both developed and developing countries are investing in offshore wind and solar power, both fixed-bottom and floating which is driven by supportive policies, and the rising need for large-scale renewable energy sources.
For instance, in August 2024, Mingyang Group established the OceanX project which is the world's largest single-capacity floating wind power platform in China. The floating wind turbine platform is arranged in a 'V' shape and carries two 8.3 MW offshore wind turbines with a total capacity of 16.6 MW. This development highlights that companies are investing in the renewable energy sector, which drives the demand for subsea power grid systems in the market.
The installation of offshore renewable energy requires efficient subsea power grid systems and reliable transmission infrastructure to deliver generated electricity from remote sea locations to onshore grids which drive its demand in the market. Companies are looking for inaccessible sites with stronger more consistent wind and solar resources which leads in expansion of the plants in different geographics. The shift expands the geographical scope and scale of offshore renewable projects, further driving demand for advanced subsea power solutions. Moreover, innovations in subsea power grids such as high-quality cable insulation and smart grid integration are enhancing the efficiency of the systems which make it a feasible option for the large-scale offshore power plants thus driving its demand in the market.
Electrification of Oil and Gas Extraction Technologies Creates Market Opportunity
The oil and gas industry seeks to enhance operational efficiency and reduce emissions which could align with evolving sustainability goals, resulting in the electrification of oil and gas extraction technologies in the market. Companies are looking to electrify the equipment by replacing the traditional sources with onshore grids or offshore renewable sources thus, lowering the dependency on fuels. The transition is rising due to the rising need for cost-effective and reliable energy supply in remote offshore locations, thus creating a substantial market opportunity for subsea power grid systems in the forecast period. Companies are developing the advanced electrified subsea oil and gas extraction technologies which is creating the demand for subsea power grid systems in the market.
For instance, in February, Baker Hughes Inc. decided to launch new electrification technologies such as Hummingbird and SureCONTROL that will provide enhanced reliability, increased efficiency and reduced emissions for onshore and offshore operations. These technologies which have implications for both traditional oil and gas and new energy applications. This development highlights that companies are entering in launching innovative electric-based extraction technologies which boost the market growth in the coming year.
Furthermore, the electrification enables oil and gas operators to achieve significant reductions in greenhouse gas emissions by minimizing or eliminating routine flaring and by powering equipment with cleaner energy sources. The development of advanced technologies directly drives the investment in the deployment of advanced subsea power grid infrastructure. The upcoming advancement in automation, AI, and digitalization of equipment are accelerating the adoption of electrified solutions thus creating market opportunity for the subsea power grid systems in the market. As the oil and gas sector continues to invest in new projects and upgrades to existing infrastructure, the need for reliable subsea power grid systems drives the market growth.
Dominance of Renewable Energy Segment in Global Market
The global move toward clean energy as well as the need to cut carbon emissions is driving investment in offshore renewable projects. Regions are offering enabling policies for the installation of renewable projects that are frequently situated remotely from shore in deeper waters with rich wind resources, necessitating sophisticated subsea power grid systems to effectively transport high amounts of produced electricity back to onshore grids, thereby fueling demand for subsea power grid systems in the renewable industry.
Moreover, the large investments in offshore wind facilities as well as ongoing research and development of bigger and more efficient turbines are propelling the demand for robust, high-capacity subsea power transmission systems in the marketplace. Governments are further implementing supportive policies and offering incentives to speed up renewable energy take-up, further solidifying its dominance in the market.
Europe Dominates Global Subsea Power Grid System Market
The investment in offshore renewable energy projects and increasing ambitious targets for renewable energy position the region to lead in the world market. The investment in new projects is propelling the demand for effective subsea power grid systems for the transmission of power from distant offshore sites to onshore grids. The area consists of nations like the UK, Germany, France, and Italy, which are implementing aggressive decarbonization strategies and increasing offshore renewable energy capacity, especially in the North Sea, Baltic Sea, and the Mediterranean area, opening the door for subsea power grid systems over the next few years. The extensive fixed and floating subsea wind farms and solar farms require the deployment of sophisticated subsea power grid infrastructure which allows the region to lead in the market.
Government incentives, subsidies, and cross-border energy trading initiatives are also playing a crucial role in accelerating offshore electrification and the development of interconnection projects which drive the demand for the subsea power grid systems in the market. Europe continues to lead the global transition to clean energy, and the increasing scale and complexity of offshore projects are expected to sustain robust demand for subsea power grid systems, positioning the region as a global hub for innovation and deployment in this sector.
For instance, in March 2025, Vattenfall AB company decided to construct the Nordlicht 1 and 2 wind farms projects, which are planned to begin in 2026, and Nordlicht 1 is set to become Germany's largest offshore wind project and expected to be operational in 2028. This development highlights that companies in Germany are looking to transit to renewable energy sources which will drive the demand for power subsea power grid system in the coming years. Further, Europe has a strong offshore oil and gas operations, like in North Sea, which further increases the demand for subsea power grid systems.
Impact of the United States Tariffs on Global Subsea Power Grid System Market
United States tariffs on imported subsea power grid components, such as high-voltage cables and terminal equipment, result in raising costs for domestic projects, making subsea power grid systems significantly more expensive for the United States-based developments.
The tariffs are disrupting established global supply chains, particularly for components sourced from China and Southeast Asia, raising uncertainty in the market.
Manufacturers from tariff-affected countries may redirect their exports to tariff-free regions such as Europe and South America for market development.
In the long term, tariffs may encourage the United States investment in domestic manufacturing of subsea cables and grid components or foster partnerships with suppliers in tariff-exempt allied nations.
Key Players Landscape and Outlook
To increase market share and revenue in the global subsea power grid system market, leading players are pursuing several strategic initiatives. Companies are investing heavily in technological smart grid integration, and the development of more efficient power grids for offshore energy sector. Strategic partnerships, mergers, and acquisitions are common, enabling firms to broaden company product portfolios and strengthen market positions. In addition, product launches, business expansions, collaborations, and developing technologies are projected to increase competition in the fast-paced market.
For instance, in November 2024, TechnipFMC plc decided to enter into collaboration agreement with Prysmian Group to further accelerate the global development of floating offshore wind projects to help meet growing demand for renewable electricity. The collaboration agreement brings together the technologies and competencies to providing the unique capabilities to pioneer a complete water column solution, from seabed to ocean surface. The collaboration will leverage the unparalleled expertise of TechnipFMC's system design and integration capabilities in dynamic offshore applications.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.