In the latest edition of Westwood’s Subsea Cable Tracker H1 report, global subsea cable demand is forecast to grow at a 17% compound annual growth rate (CAGR), totaling 46,470 km over the 2018-2022 period. This represents a 71% growth compared to the 2013-2017 period.
This edition provides cable demand and vessel installation day demand for the offshore wind sector, the oil & gas sector, as well as for high and medium voltage interconnector market, with the latter being new to this report. The report provides specific project information that supports subsea cable installation activities over the 2018-2020 period.
The forecast period will be marked by unprecedented levels of project sanctioning and implementation in the offshore wind and the subsea power interconnector sector. Asia Pacific and Europe will account for 81% of forecast installations, with both regions leading the way in terms of offshore wind developments, interconnector power cables driven by a need for reliable and diversified energy supply, as well as some major oil & gas projects.
To access the latest Subsea Cable Tracker H1 databook, visit westwoodenergy.com.