Global Revenue from Submarine Electricity Projects is Expected to Total Nearly $230 Billion from 2015 to 2024, According to Navigant Research

BOULDER, Colo.

A recent report from Navigant Research analyzes the global market for submarine electricity transmission systems, including global market forecasts for project value, segmented by technology and region, through 2024.

Submarine electricity transmission systems are increasingly being used for both long and short hauls in undersea, lake, and river interconnection projects globally, and many systems are moving toward high-voltage direct current (HVDC) technology. This market has grown substantially in recent years as need increases for connections between regional generation resources and city infrastructure. Click to tweet: According to a recent report from Navigant Research, revenue from submarine electricity transmission projects is expected to total nearly $230 billion from 2015 to 2024.

“One of the major drivers today for submarine cable projects is connecting offshore power generation to electrical grids located on the mainland,” says James McCray, senior research analyst with Navigant Research. “While these projects today and in the near future will mostly involve offshore wind farms, other more exotic renewable generation resources like tidal and wave power generation may also become part of the generation mix down the road.”

Submarine electricity transmission projects face a myriad of international, regional, and national regulations, with sometimes hundreds of permits involved, according to the report. However, significant pushback is occurring, and many expect governments will attempt to streamline permitting and approval processes in the years to come.

The report, Submarine Electricity Transmission, analyzes the global market for submarine electricity transmission systems. The study provides an analysis of the market issues, including market drivers and regulations and policies, associated with submarine electricity transmission projects. Global market forecasts for project value, segmented by technology and region, extend through 2024. The report also provides case studies and examines the key technologies related to submarine electricity transmission systems, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is an independent specialized, global professional services firm that combines deep industry knowledge with technical expertise to enable companies to defend, protect and create value. With a focus on industries and clients facing transformational change and significant regulatory and legal issues, the Firm serves clients primarily in the healthcare, energy and financial services sectors which represent highly complex market and regulatory environments. Professional service offerings include strategic, financial, operational, technology, risk management, compliance, investigative solutions, dispute resolutions services and business process management services. The Firm provides services to companies, legal counsel and governmental agencies. The business is organized in four reporting segments – Disputes, Investigations & Economics; Financial, Risk & Compliance; Healthcare; and Energy. More information about Navigant can be found at navigant.com.

* The information contained in this press release concerning the report, Submarine Electricity Transmission, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.

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