# Submarine Power Cable Market > Submarine Power Cable Market valued at USD 11.70 billion in 2025, forecast to reach USD 34.54 billion by 2035 at 11.43% CAGR, led by HVDC offshore links. Publisher: DC Market Insights Author: Satyabrat Rajawat, DC Market Insights Published: 2026-10-07 Last updated: 2026-10-07 Next review: Apr 2027 Page: https://www.dcmarketinsights.com/report/submarine-power-cable-market ## Key takeaways - Offshore Wind Additions Rise from 9 GW in 2025 to 26 GW by 2030 - 525 kV HVDC Becomes the Standard for Long Links - US Policy Reversal Removes Near-Term Offshore Wind Demand - Offshore Wind Export Cables Reach USD 12.97 billion by 2035 **Frequently Asked Questions** **What is the size of the Submarine Power Cable Market in 2025 and 2035?** USD 11.70 billion in 2025, rising to USD 34.54 billion by 2035. DC Market Insights estimates the market at USD 8.39 billion in 2020. **How fast is the Submarine Power Cable Market growing?** 11.43% a year from 2025 to 2035, faster than the 6.89% a year recorded between 2020 and 2025, as HVDC interconnector and offshore wind orders turn into revenue. **Which application leads the Submarine Power Cable Market?** Interconnectors and grid links, with USD 4.75 billion or 40.6% of the market in 2025. Offshore wind export cables are the fastest-growing segment at 14.36% a year. **How much does a submarine power cable cost per kilometer?** About EUR 1.59 million to EUR 4.00 million per route-kilometer on recent euro HVDC contracts, by DC Market Insights calculation. The model uses USD 3.05 million per route-km for interconnector cable in 2025. **Which region leads the Submarine Power Cable Market?** Europe, with USD 5.48 billion or 46.8% of 2025 value. Asia Pacific grows fastest at 12.77% a year and overtakes Europe by 2035. **Who are the leading companies in the Submarine Power Cable Market?** Prysmian leads with about 24% of the market, and Prysmian, Nexans and NKT together hold about half (DC Market Insights estimate). Sumitomo Electric, LS Cable & System, Hellenic Cables, Furukawa Electric, Taihan, ZTT and JDR Cable Systems also compete. **How do data centers affect submarine power cable demand?** 945 TWh of data center electricity use is expected by 2030, according to the IEA, more than double 2024. Data center operators such as Google and Amazon buy offshore wind output that reaches shore through export cables. **Which country spends the most on submarine power cables?** China, with USD 3.07 billion or 26.2% of 2025 spending, followed by the United Kingdom at USD 1.66 billion. Japan grows fastest at 16.72% a year (DC Market Insights estimate). ## Market by region (USD million) ## Dataset | Series | Value | Unit | | --- | --- | --- | | Market size 2025 | 11,700 | USD million | | Revenue CAGR | 11.43 | % | | Market size 2035 | 34,540 | USD million | ## Frequently asked questions ### What is the size of the Submarine Power Cable Market in 2025 and 2035? USD 11.70 billion in 2025, rising to USD 34.54 billion by 2035. DC Market Insights estimates the market at USD 8.39 billion in 2020. ### How fast is the Submarine Power Cable Market growing? 11.43% a year from 2025 to 2035, faster than the 6.89% a year recorded between 2020 and 2025, as HVDC interconnector and offshore wind orders turn into revenue. ### Which application leads the Submarine Power Cable Market? Interconnectors and grid links, with USD 4.75 billion or 40.6% of the market in 2025. Offshore wind export cables are the fastest-growing segment at 14.36% a year. ### How much does a submarine power cable cost per kilometer? About EUR 1.59 million to EUR 4.00 million per route-kilometer on recent euro HVDC contracts, by DC Market Insights calculation. The model uses USD 3.05 million per route-km for interconnector cable in 2025. ### Which region leads the Submarine Power Cable Market? Europe, with USD 5.48 billion or 46.8% of 2025 value. Asia Pacific grows fastest at 12.77% a year and overtakes Europe by 2035. ### Who are the leading companies in the Submarine Power Cable Market? Prysmian leads with about 24% of the market, and Prysmian, Nexans and NKT together hold about half (DC Market Insights estimate). Sumitomo Electric, LS Cable & System, Hellenic Cables, Furukawa Electric, Taihan, ZTT and JDR Cable Systems also compete. ### How do data centers affect submarine power cable demand? 945 TWh of data center electricity use is expected by 2030, according to the IEA, more than double 2024. Data center operators such as Google and Amazon buy offshore wind output that reaches shore through export cables. ### Which country spends the most on submarine power cables? China, with USD 3.07 billion or 26.2% of 2025 spending, followed by the United Kingdom at USD 1.66 billion. Japan grows fastest at 16.72% a year (DC Market Insights estimate). ## How to cite Data Center Market Research & Consulting | DC Market Insights, "Submarine Power Cable Market", updated 2026-10-07, https://www.dcmarketinsights.com/report/submarine-power-cable-market