U.S. Submarine Cable Market Analysis by Voltage Type (Low Voltage (Up to 1 kV), Medium Voltage (1 kV – 35 kV), High Voltage (35 kV – 220 kV), Extra High Voltage (Above 220 kV)), Cable Type, Insulation Type, and Application: Installation (Thousand Kilometer), Pricing Analysis, Trends, Analysis and Forecast Till 2033

Market Overview

U.S. Submarine Cable Market recorded a volume of 21 thousand kilometer in 2024 and is estimated to reach a volume of 46 thousand kilometer by 2033 with a CAGR of 9.4% during the forecast period.

The expansion of offshore wind energy along the U.S. Atlantic and Gulf Coasts represents a significant driver for the submarine power cable market and is fundamentally altering the country’s energy infrastructure. As federal and state governments aim for ambitious renewable energy goals, developers are increasingly focusing on offshore wind farms to sustainably meet the rising electricity demand. These offshore installations, often located several kilometers from the shore, necessitate durable submarine power cables to effectively transmit the electricity generated back to onshore grids. This includes both array cables, which connect individual turbines within a wind farm, and export cables, which transport large amounts of power from the wind farm to the mainland. The scale and technical intricacies of these projects significantly elevate the demand for high-voltage and high-capacity submarine cables, particularly HVDC and HVAC systems, which can manage large power flows over extended distances with minimal losses.

The Atlantic Coast is becoming a key area for development due to its favorable wind conditions, shallow continental shelf regions, and supportive regulatory environments. Meanwhile, the Gulf Coast offers opportunities for smaller-scale projects and the integration of existing coastal infrastructure. The rapid progress of the U.S. offshore wind market is being bolstered by legislative measures such as the Inflation Reduction Act and long-term federal leasing programs overseen by the Bureau of Ocean Energy Management (BOEM). These initiatives provide developers with stability and financial incentives, fostering a predictable pipeline of projects, which in turn creates a steady demand for submarine power cables.

Additionally, advancements in cable design, insulation, and installation methods contribute to more efficient deployment and improved reliability, further stimulating investment in large-scale offshore wind initiatives. This growth not only increases the volume of required submarine cables but also drives innovation and higher-value engineering solutions. Specialized cables that can withstand deepwater pressures, strong currents, and marine environmental challenges are becoming essential, prompting manufacturers to enhance their capabilities and increase production. Consequently, the industry gains from improved economies of scale, better integration within the supply chain, and expanded opportunities for U.S.-based manufacturing and installation services. Overall, the development of offshore wind energy acts as a significant volume and value driver, emerging as a critical factor in shaping the U.S. submarine power cable market in the near to medium term, while also contributing to the broader transition toward sustainable and resilient energy infrastructure.

Pricing Analysis

The U.S. submarine cable market is experiencing significant fluctuations in unit pricing from 2023 to 2033, driven by a mix of supply chain factors, technological advancements, and changing project needs. In 2023, the average price for submarine power cables was around USD 55,000 per kilometer, largely influenced by material costs, manufacturing capacity, and moderate demand for short to medium-length coastal and interconnection projects. By 2024, prices rose to USD 60,000 per kilometer, primarily due to increasing raw material costs for copper and aluminum conductors, insulation materials, and specialized armoring needed for subsea deployment.

This upward trend continued into 2025, with prices reaching USD 64,500 per kilometer, spurred by the growth of offshore wind development, heightened demand for high-voltage alternating current (HVAC) cables, and more stringent safety and environmental compliance requirements for projects in U.S. waters. Interestingly, there was a slight decline in 2026 to USD 61,000 per kilometer, indicating a temporary stabilization or cost reduction resulting from improvements in production efficiency, enhanced supply chain logistics, or potential bulk procurement agreements by utilities and offshore project developers.
 
Following this dip, prices rebounded in 2027 to USD 63,000 per kilometer and surged again in 2028, climbing to USD 68,000 per kilometer. This increase can be attributed to a rising demand for high-voltage direct current (HVDC) submarine cables, driven by longer-distance offshore wind connections and interregional transmission initiatives, alongside inflationary pressures within the industrial manufacturing sector.

Starting in 2029, prices continued to rise steadily, reaching USD 71,000 in 2029, USD 73,180 in 2030, and approaching USD 78,900 per kilometer by 2033. These consistent increases reflect expanded project volumes and advancements in cable design and installation technology, such as enhanced insulation, capabilities for deeper water deployment, and higher power ratings. As projects become more complex—requiring longer cable lengths, deployment in deeper waters, and robust environmental resilience—the per-kilometer cost factors in both material and engineering premiums. Additionally, considerations for regulatory compliance, environmental monitoring, and workforce costs contribute to these gradual price hikes.

Overall, the U.S. submarine cable market exhibits a moderately upward pricing trend throughout the forecast period, marked by short-term corrections as a response to supply and demand dynamics. This trend underscores the sensitivity of cable prices to raw material costs, technological challenges, and project scale, highlighting the importance for both manufacturers and buyers to carefully strategize procurement and project execution. As offshore wind, coastal electrification, and interconnection projects evolve in scale and complexity, per-kilometer pricing is expected to reflect not only material and labor contributions but also the premium associated with reliability, longevity, and high-capacity power transmission in demanding subsea environments.

Segmental Analysis- Voltage Type

The U.S. submarine cable market is characterized by a clear segmentation based on voltage type, reflecting the varying technical requirements of offshore power transmission, renewable energy integration, and coastal electrification projects. High Voltage cables, ranging from 35 kV to 220 kV, dominate the market, accounting for about 40% of the total share. These cables are the preferred choice for most offshore wind farms, inter-island connections, and regional transmission networks due to their capability to transmit substantial power loads over moderate distances with minimal energy loss. Typically, they are instrumental in linking offshore generation sites to onshore grids, with their robust performance and cost-effectiveness driving widespread adoption, especially along the Atlantic Coast and Gulf Coast, where large-scale offshore wind and industrial initiatives are prevalent.

 
Medium Voltage cables, spanning 1 kV to 35 kV, make up roughly 25% of the market, catering to applications needing shorter transmission distances or lower power capacities. These cables are often utilized in smaller offshore installations, coastal substations, and specialized industrial platforms, balancing performance with installation costs. Their flexibility and adaptability render them suitable for projects where high-voltage solutions are either unnecessary or economically unfeasible. Additionally, medium voltage cables frequently serve as feeder lines within larger wind farm arrays, complementing high voltage export cables to enhance power distribution efficiency.

Extra High Voltage cables, which operate above 220 kV, also comprise a 25% market share, reflecting the growing demand for long-distance, high-capacity transmission solutions. These cables play a crucial role in HVDC systems that connect offshore renewable energy projects to distant onshore grids or facilitate interregional interconnections aimed at bolstering grid reliability and minimizing transmission losses. The increasing focus on renewable energy export and large-scale interconnectivity has driven a steady rise in demand for extra high voltage submarine cables, supported by technological advancements that enhance efficiency, reliability, and environmental resilience in challenging marine conditions.

Low Voltage cables, limited to up to 1 kV, account for a smaller share of about 10%, typically deployed in niche applications. These include auxiliary power supplies for offshore platforms, short-range distribution networks, or specific coastal infrastructure projects. Although their overall market value is limited, they remain vital for specialized installations requiring localized power delivery with minimal complexity.

In summary, the voltage-based segmentation of the U.S. submarine cable market underscores the predominance of high-capacity solutions, while also highlighting the complementary roles of medium, extra high, and low voltage systems. This distribution reflects the industry's commitment to advancing offshore energy expansion, interconnection projects, and flexible coastal infrastructure, which, in turn, drives both volume growth and technological innovation within the subsea cable sector.

Company Analysis

The U.S. submarine cable market analysis includes major players such as Prysmian Group, Nexans, SubCom, LLC, ABB, Sumitomo Electric Industries, NKT Cables, Furukawa Electric, along with several other notable companies.