TCR Type Static Var Compensator (SVC) Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: CRERT, Zhejiang CRRC, Siemens, Mitsubishi Electric, Hitachi ABB Power Grid, GE (NYSE: GE)

Over the next five years the TCR Type Static Var Compensator (SVC) market will register an 4.1% CAGR in terms of revenue, the global market size will reach USD 758.2 million by 2027.

TCR Type Static Var Compensator (SVC) Market Overview

In 2021, the market for TCR static VAR compensators (SVC) was estimated to be worth $758.2 million, and by 2027, it is expected to have grown to $1,135.4 million, with a CAGR of 4.1% from 2022 to 2027. The assembly for a TCR static VAR compensators (SVC) is created by pairing a fixed shunt capacitor with a controlled reactor in parallel. The output of inductive current, which further controls bus voltage factor, is modified using a TCR static VAR compensators (SVC). Additionally, this gadget has the ability to reduce reactive power over wide areas with no additional time delay.   

The need for a wide variety of consumer goods has increased as a result of the expanding population, which has also caused the industrial manufacturing sectors to expand quickly. For instance, a Trading Economics article states that the increased demand for advanced materials, motor cars, and refined petroleum products caused India's industrial production to expand by 13.6% year over year in June 2021. These large-scale sectors, particularly the steel sector, are subject to extreme power fluctuations that interfere with both equipment operation and continuing activities. A set of electrical components known as a TCR static VAR compensators (SVC) stabilizes voltage output to maintain particular voltage values necessary for industrial applications. Because of this, the major large-scale industrial sectors now employ TCR static VAR compensators (SVC) for voltage correction, including steel, cement, power utilities, and others. All of these elements work together to increase demand for TCR static VAR compensators (SVC), which boosts the expansion of the global market.

However, TCR static VAR compensators (SVC) include one or more banks of fixed shunt reactors and capacitors, including harmonic filters, mechanically switched reactors or capacitors, thyristor-controlled reactors (TCR), and thyristor switched capacitors (TSC). TCR static VAR compensators (SVC) is costly for small enterprises due to the combination of various pieces of equipment. During the forecast period, this factor is anticipated to limit the market for TCR static VAR compensators (SVC). 

Who are the Major Players in TCR Type Static Var Compensator (SVC) Market?

The TCR Type Static Var Compensator (SVC) Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market Tai Kai Power Electronic, NR Electric Co., Ltd., Zhongdian Purui Technology, CRERT, Zhejiang Guirong Xieping Technology, CRRC, Siemens, Rongxin Power Electronic, Mitsubishi Electric, Hitachi ABB Power Grid, GE, Xian XD Power, Harbin Weihan, Liaoning Lea and others.

Industry News:

GE completes one of power industry’s largest reactive power upgrades with 100% reliability

May 11, 2022 — GE's Grid Solutions business [NYSE:GE] has successfully completed the three-month trial of its Static Var Compensator (SVC) upgrade to the existing SVCs at two substations belonging to Statnett, Norway’s electrical transmission system operator (TSO). The Flexible AC Transmission System (FACTS) upgrade improves the operational efficiency and stability of Statnett’s alternating current (AC) power system in order to accommodate more renewable energy. The upgrade marks the largest SVC revamp project Statnett has ever undertaken — and is also one of the largest in the industry.

TCR Type Static Var Compensator (SVC) Market provides details by vendors, including company total revenue (financials), company overview, market potential, global presence, his business report briefly talks about market performance of each business sector covering growth factors and sales volume. this analysis provides the This TCR Type Static Var Compensator (SVC) Market analysis report provides recent trends, granular level data covering market size and share. It provides all the recent updates about CORONA virus and its impact on world economy and human health. By getting this data, key players can obtain profit making and right business opportunities for future growth. Its further guides to increase the product demand and business expansion.

What are the major Applications, Types and Regions for TCR Type Static Var Compensator (SVC) Market?

By Type, it is segmented into

•     Power Grid


•     Metallurgy Industry


•     Steel Industry


•     Mining


•     New Energy


•     Chemical Industry


•     Transportation


•     Others

By Applications it is segmented into

•     Voltage＜6kV


•     6kV≤Voltage＜10kV


•     10kV≤Voltage＜20kV


•     20kV≤Voltage＜30kV


•     30kV≤Voltage＜40kV


•     Voltage≥40kV

TCR Type Static Var Compensator (SVC) Market Regional Analysis

The TCR Type Static Var Compensator (SVC) market in Asia-Pacific, which had 29.4% of global market share in 2020, is expected to expand at the highest CAGR of 5.6% during the forecast period. The primary market trend in the Asia-Pacific area is the use of TCR Type Static Var Compensator (SVC) in industries including steel and metal, electric utility, railroads, and others. Sales of TCR Type Static Var Compensator (SVC) have increased as a result of the expanding demand for steel and metal-based products in China and India's automotive, building and construction, and other industries.

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The TCR Type Static Var Compensator (SVC) Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global TCR Type Static Var Compensator (SVC) Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our TCR Type Static Var Compensator (SVC) Market report scope?

 Key Takeaways from this TCR Type Static Var Compensator (SVC) Report

• Evaluate TCR Type Static Var Compensator (SVC) market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.


• Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the TCR Type Static Var Compensator (SVC) market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.

All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.

Frequently Asked Questions

What is the study period of this market?

The TCR Type Static Var Compensator (SVC) Market is studied from 2017 - 2027.

What is the growth rate of TCR Type Static Var Compensator (SVC) Market?

The TCR Type Static Var Compensator (SVC) Market is growing at a CAGR of 4.1% over the next 5 years.

Who are the key players in TCR Type Static Var Compensator (SVC) Market?

Tai Kai Power Electronic, NR Electric Co., Ltd., Zhongdian Purui Technology, CRERT, Zhejiang Guirong Xieping Technology, CRRC, Siemens, Rongxin Power Electronic, Mitsubishi Electric, Hitachi ABB Power Grid, GE, Xian XD Power, Harbin Weihan, Liaoning Lea

What region does this TCR Type Static Var Compensator (SVC) Market report covers?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

What are the significant types of TCR Type Static Var Compensator (SVC) Market?

Power Grid, Metallurgy Industry, Steel Industry, Mining, New Energy, Chemical Industry, Transportation, Others

What are the major end-use applications of TCR Type Static Var Compensator (SVC) Market?

Voltage＜6kV, 6kV≤Voltage＜10kV, 10kV≤Voltage＜20kV, 20kV≤Voltage＜30kV, 30kV≤Voltage＜40kV, Voltage≥40kV