Global Static Var Compensator and Static Var Generator Market Growth 2023-2029

Global Static Var Compensator and Static Var Generator Market Growth 2023-2029

A static VAR compensator is a set of electrical devices for providing fast-acting reactive power on high-voltage electricity transmission networks. SVCs are part of the Flexible AC transmission system device family, regulating voltage, power factor, harmonics and stabilizing the system. A static VAR compensator has no significant moving parts (other than internal switchgear).

SVG is also called STATCOM is a shunt device, which uses force-commutated power electronics (i.e. GTO, IGBT) to control power flow and improve transient stability on electrical power networks. It is also a member of the so-called Flexible AC Transmission System (FACTS) devices. The STATCOM basically performs the same function as the static var compensators but with some advantages.
LPI (LP Information)' newest research report, the “Static Var Compensator and Static Var Generator Industry Forecast” looks at past sales and reviews total world Static Var Compensator and Static Var Generator sales in 2022, providing a comprehensive analysis by region and market sector of projected Static Var Compensator and Static Var Generator sales for 2023 through 2029. With Static Var Compensator and Static Var Generator sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Static Var Compensator and Static Var Generator industry.
This Insight Report provides a comprehensive analysis of the global Static Var Compensator and Static Var Generator landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Static Var Compensator and Static Var Generator portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Static Var Compensator and Static Var Generator market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Static Var Compensator and Static Var Generator and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Static Var Compensator and Static Var Generator.
The global Static Var Compensator and Static Var Generator market size is projected to grow from US$ 1397.9 million in 2022 to US$ 1950.8 million in 2029; it is expected to grow at a CAGR of 1950.8 from 2023 to 2029.
Global Static Var Compensator and Static Var Generator key players include ABB, Siemens, Rongxin Power Electronic, Sieyuan Electric, etc. Global top four manufacturers hold a share about 50%.
China is the largest market, with a share over 35%, followed by United States and Europe, both have a share over 30 percent.
In terms of product, SVG is the largest segment, with a share over 60%. And in terms of application, the largest application is Electric Utilities, followed by Renewable Energy, Industrial & Manufacturing, etc.
This report presents a comprehensive overview, market shares, and growth opportunities of Static Var Compensator and Static Var Generator market by product type, application, key manufacturers and key regions and countries.
Market Segmentation:
Segmentation by type
Static Var Compensator
Static Var Generator
Segmentation by application
Renewable Energy
Electric Utilities
Industrial & Manufacturing
Other
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
ABB
Siemens
Rongxin Power Electronic
Sieyuan Electric
Mitsubishi Electric
Hitachi
Toshiba
S&C Electric
GE
Hangzhou Yinhu Electric
AMSC
Xian XD Power
Weihan
Ingeteam
Hengshun Zhongsheng
Sinexcel
Merus Power
Baoding Sifang Sanyi Electric
Xuji Group Corporation
Zhiguang Electric
Comsys AB
Beijing In-power Electric Co., Ltd
Surpass Sun Electric
Key Questions Addressed in this Report
What is the 10-year outlook for the global Static Var Compensator and Static Var Generator market?
What factors are driving Static Var Compensator and Static Var Generator market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Static Var Compensator and Static Var Generator market opportunities vary by end market size?
How does Static Var Compensator and Static Var Generator break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.