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Global $962.6 Million Static VAR Compensators (SVC) Market Trajectory & Analytics to 2027 - ResearchAndMarkets.com
January 21, 2021 GMT
DUBLIN (BUSINESS WIRE) Jan 21, 2021
Global Static VAR Compensators (SVC) Market to Reach $962.6 Million by 2027
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Amid the COVID-19 crisis, the global market for Static VAR Compensators (SVC) estimated at US$752.3 Million in the year 2020, is projected to reach a revised size of US$962.6 Million by 2027, growing at a CAGR of 3.6% over the period 2020-2027.
Thyristor-based, one of the segments analyzed in the report, is projected to record 3.1% CAGR and reach US$609.8 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the MCR-based segment is readjusted to a revised 4.4% CAGR for the next 7-year period.