Technavio Research: $ 1.08 Billion Growth in Submarine Power Cable Market During 2020-2024 | Featuring ABB Ltd. and Anixter International Inc. Among Others | Technavio
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Technavio has announced its latest market research report titled Global Submarine Power Cable Market 2020-2024 (Graphic: Business Wire)
Amid the COVID-19 pandemic, the global submarine power cable market registered a YOY growth of 1.74% in 2020 and the market is estimated to expand at a CAGR of over 4% during the forecast period. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios.
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Technavio estimates the global HVDC converter stations market to grow by USD 3.36 billion, progressing at a CAGR of almost 14% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201214005860/en/
Technavio has announced its latest market research report titled Global HVDC Converter Stations Market 2020-2024 (Graphic: Business Wire)
The market is driven by the increase in global power demand. However, the ongoing slowdown in the Chinese economy might challenge growth.