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According to a new market research report "Submarine Power Cable Market by Type (Single, Multicore), Voltage (Medium, High), Conductor Material (Copper, Aluminum), End-User (Offshore Wind Power Generation, Inter-Country & Island Connection, & Offshore Oil & Gas), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to grow from an estimated market size of USD 8.12 Billion in 2018 to USD 16.56 Billion by 2023, at a CAGR of 15.32%, from 2018 to 2023. The overall market is set to witness significant growth because of the increasing offshore wind installations, growing demand for inter-country and island connection, and demand from offshore oil & gas sector. Increasing demand for HVDC connections is one of the major opportunities for the Submarine Power Cable Market.

Seismic data provider SeaBird Exploration has secured two offshore survey contracts, one in West Africa and one in the Gulf of Mexico.

UK-based chemicals multinational INEOS announced an investment of $1.3bn (£1bn) into the UK energy industry, including £500m into offshore operations in the North Sea.

Offshore wind could be described as the younger sibling of onshore wind, with the first offshore windfarm being completed off the coast of Denmark 1991. In countries such as the US, offshore wind is almost non-existent at the moment , but offshore wind is particularly strong in the UK and Europe, with 1.9GW being installed on the continent in the first half of 2019.

According to the new market research report "Power Grid System Market in Subsea by Component (Cables, Variable Speed Drives, Transformers, Switchgears), Application (Captive Generation, Wind Power), Depth (Shallow Water and Deepwater) and Region - Global Forecast to 2027", is expected to grow from an estimated USD 9.1 billion in 2022 to USD 14.8 billion in 2027, at a CAGR of 10.2% during the forecast period. Power grid systems in subsea play an important role in the offshore power supply network. Subsea power grid comprise of several components such as cables, transformers, variable speed drives, switchgears, and others used for various applications. The subsea power grid system is gaining traction as oilfield operators are moving toward deep and ultra-deepwater levels for exploring oil and gas reserves. Moreover, offshore wind power is also one of the prominent applications for subsea power grid systems. Favorable government policies for offshore renewable power production, especially using wind energy along with urgent need to reduce carbon emissions and improve grid reliability and efficiency is expected to drive the demand for subsea power grid systems.

The global power grid system market in subsea is projected to reach USD 14.8 billion by 2027 from an estimated USD 9.1 billion in 2022, at a CAGR of 10.2% during the forecast period. Favorable government policies for offshore renewable power production, especially using wind energy along with urgent need to reduce carbon emissions and improve grid reliability and efficiency is expected to drive the demand for subsea power grid systems. According to industry analysts, new investments worth USD 166 billion are likely to be in offshore wind power projects and USD 1.7 billion in new tax revenue for the US Treasury by 2022 while also supporting 80,000 jobs yearly by 2035. With an increasing number of offshore wind farms and a rising focus on integrating wind-generated energy into electrical power systems, modern control systems are anticipated to be deployed in subsea power grids.

The Global Submarine Power Cable market is projected to reach USD 22.3 billion by 2028 from an estimated USD 12.9 billion in 2023, at a CAGR of 11.5% during the forecast period. These cables are essential for connecting offshore power generation facilities, such as offshore wind farms, tidal energy installations, or underwater power distribution networks, to onshore power grids. They are also used for interconnecting islands with mainland power systems, supplying power to offshore oil and gas platforms, and various other underwater electrical transmission applications.

the Power Grid System Market in Subsea is expected to grow from an estimated USD 9.1 billion in 2022 to USD 14.8 billion in 2027, at a CAGR of 10.2% during the forecast period. Power grid systems in subsea play an important role in the offshore power supply network. Subsea power grid comprise of several components such as cables, transformers, variable speed drives, switchgears, and others used for various applications. The subsea power grid system is gaining traction as oilfield operators are moving toward deep and ultra-deepwater levels for exploring oil and gas reserves. Moreover, offshore wind power is also one of the prominent applications for subsea power grid systems. Favorable government policies for offshore renewable power production, especially using wind energy along with urgent need to reduce carbon emissions and improve grid reliability and efficiency is expected to drive the demand for subsea power grid systems.

Oil rig or oil tanker accidents are behind the worst offshore oil spills in history, including the tragic Deepwater Horizon disaster of 2010. Offshore-technology.com profiles the world's biggest oil spill disasters based on the volume of oil released.

Federal officials responsible for inspecting and licensing offshore oil rigs in the Gulf of Mexico accepted lavish trips from offshore oil companies, according to an official federal report released Tuesday.

Supplying power to offshore platforms from land-based plants could have a major impact on the industry's carbon emissions. Norway is the world leader in the laying of subsea cables to power offshore facilities, but a recent disagreement over the electrification of the Utsira High region has sparked a new debate over how and where to make use of this promising technology.

Noble Energy has given the go-ahead for the development of the Alen natural gas project located offshore Equatorial Guinea (EG).

The US Bureau of Ocean Management (BOEM) has proposed to offer blocks spanning 78 million acres for a region-wide lease sale scheduled for August 2019, in support of the US Government's Offshore Energy Strategy.

Williams has acquired and commissioned the Norphlet deepwater gathering pipeline system, which was constructed by Shell Offshore and CNOOC Petroleum Offshore U.S.A.

There are many types of trusts. For this example, I will define an offshore asset protection trust as any trust formed for a term of years in a foreign jurisdiction, which does not recognize (or imposes significant barriers to the recognition of) United States judgments.

Whether you are looking for Offshore PHP developers for your next project or searching for a long-serving PHP Development Company, Indian development companies would beyond doubt cross your mind.

Samcom Technobrains provides to you high end software development solution,web and mobile application development.Your perfect offshore team for software development.

Samcom Technobrains provides to you high end software development solution,web and mobile application development.Your perfect offshore team for software development.

Samcom Technobrains provides to you high end software development solution,web and mobile application development.Your perfect offshore team for software development.