|Nexans sees continued growth in subsea power cable market|
|Submarine Cable NewsFeed - Submarine Power Cables|
|Thursday, 23 April 2015 08:23|
A few weeks ago, we noted that Prysmian was forecasting strong growth in the submarine power cable business. Now Nexans, one of the other leading suppliers to the market, is discussing similarly optimistic forecasts.
According to a Reuters report quoting French daily Le Figaro, Arnaud Poupart-Lafarge, Nexans CEO, is expecting the high levels of growth that the market has seen in recent years to continue.
"High-voltage submarine cables are one of our most profitable and fastest-growing activities. We expect 10 percent growth per year in coming years, as we have seen in recent years," Poupart-Lafarge was quoted as saying.
According to the Reuters Africa story (http://af.reuters.com/article/energyOilNews/idAFL5N0XB13H20150414), another Nexans executive quoted in Le Figaro said Nexans plans to increase its submarine power cable manufacturing capacity with a 35 million euro investment.
At Submarine Cable World, we track growth in terms of demand for cable in route-kilometers, based on new contract announcements. Using that metric, the market thus far in 2015 is running 13% higher than for the same period in 2014.