AC power systems are gaining traction as the backbone of distribution and transmission networks globally. This is proving to be beneficial for the business of Europe HVAC cables manufacturers, given the escalating demand for clean energy and reliable cable designs for subsea distribution and transmission systems.
According to the Market Statsville Group (MSG), the global submarine cables market size is expected to grow from USD 3,986.46 million in 2022 to USD 5,510.42 million by 2033, at a CAGR of 5.2% from 2023 to 2033.