Posted by OilVoice Press - OilVoice
Westwood forecast global subsea cable demand will grow at a 6.4% CAGR, with a total of 25,338 km expected to be installed over the forecast period – an overall growth driven by a surge in offshore wind construction. Asia Pacific and Europe will account for 77% of forecast installations, with these regions leading the way in terms of new offshore wind developments and also seeing some renewed project sanctioning in oil and gas.
This update provides cable demand and vessel installation day demand by region and water depth. It also identifies potential oil & gas and offshore wind projects expected to support cable installation activities over the forecast period.
Global Subsea Cable Installation Outlook by Sector, 2012-2021
Contact us to access the latest Subsea Cable Tracker H2 databook.
Key H2 Report Conclusions
The increase in the number of oil & gas projects passing FID in 2017 compared to the previous 24 months is expected to support subsea cable demand as activity grows in gas rich basins offshore North & East Africa. Furthermore, the reduction in offshore wind construction cost in recent years due to standardization and improved logistics within the sector continues to support growth in investment.
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