Static Var Compensator and Static Var Generator Market - Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players - ABB, Siemens AG, Mitsubishi Electric Corporation, Hitachi, Ltd., Toshiba Corporation

The global static VAR compensator market size was valued at $768.2 million in 2021 and is projected to reach $1,235.4 million by 2027, growing at a CAGR of 5.1% from 2022 to 2027.

Static Var Compensator and Static Var Generator Market Overview

The power demand has been rising continuously in recent years in the developed and the developing countries and is expected to continue growing during the forecast period. The static var compensators and static var generator are the devices which are mainly used to control the voltage fluctuations taking place in the transmission lines and also control the power supply quality in the large industrial sectors. Static var compensators and static var generator also help in improving active power oscillations by modulating the amplitude of the voltage. The Static var compensators and static var generator are mainly used in industrial sectors to avoid any voltage fluctuations. In recent years the adoption of the static var compensators and static var generator has increased in the railway's sector, in power infrastructure sector to replace the existing grids, and in the upcoming solar and wind power stations. The growth of the industrial sector, railways and the adoption of the renewable energy on a large scale are the factors which will drive the growth of the global static var compensator market in the given forecast period.  

The report aspects discussed the profile of the top manufacturers of the global Static Var Compensator and Static Var Generator market. These aspects include financial status of major companies, trending advancements and entire market scenario. Growth of the report have examined Static Var Compensator and Static Var Generator Market production, demand and growth potential, geographic analysis, as well as current market developments in various regions and countries.

Who are the Major Players in the Static Var Compensator and Static Var Generator Market?

The Static Var Compensator and Static Var Generator 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 includes 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 and others.

Industry News:

ABB to help enhance power quality in Mexico

2016-06-22: ABB has commissioned a turnkey Static Var Compensator (SVC) solution for a substation in Ciudad Del Carmen, in the southern Mexican state of Campeche, for Comisión Féderal de Electricidad (CFE), Mexico's state-owned electric utility which serves over 36 million customers in 190,000 communities. The SVC will compensate for voltage fluctuations in the grid, thereby allowing more power to flow through the network while maintaining network safety and stability.

ABB Launches Static Var Compensator (SVC) Light with Energy Storage

ABB has launched SVC Light® (Static Var Compensator) with Energy Storage as its latest development within the FACTS (Flexible Alternating Current Transmission Systems) family. The new technology combines SVC Light, with a highly scalable battery storage technology. 

What are the major Applications, Types and Regions for Static Var Compensator and Static Var Generator Market?

By Type, it is segmented into

•     Static Var Compensator


•     Static Var Generator

By Applications, it is segmented into

•     Renewable Energy


•     Electric Utilities


•     Industrial & Manufacturing


•     Other

Static Var Compensator and Static Var Generator Market Regional Analysis

During the forecast period, the Asia-Pacific static VAR compensator and Static Var Generator market are expected to develop at the fastest rate of 6.6 percent, accounting for 31.4 percent of the total static VAR compensator and Static Var Generator market share in 2020. In the Asia-Pacific area, the use of static VAR compensators in industries such as steel and metal, electric utilities, railways, and others is a prominent market trend. The growing demand for steel and metal-based products in China and India, particularly in the building and construction, automotive, and other sectors, has boosted sales of static VAR compensators.

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Static Var Compensator and Static Var Generator Market describe 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 Static Var Compensator and Static Var Generator 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 Static Var Compensator and Static Var Generator Market report scope?

 Key Takeaways from this Static Var Compensator and Static Var Generator Report

• Evaluate Static Var Compensator and Static Var Generator 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 Static Var Compensator and Static Var Generator 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 Static Var Compensator and Static Var Generator Market is studied from 2017 - 2027.

What is the growth rate of Static Var Compensator and Static Var Generator Market?

The Static Var Compensator and Static Var Generator Market is growing at a CAGR of 5.1% over the next 5 years.

Who are the key players in Static Var Compensator and Static Var Generator Market?

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

Can I avail data for particular region or geography?

Yes, we provide data for a particular country and region in our reports as well as customized formats. In our reports, we cover major countries and regions. However, if there is a requirement for a specific region, we would be happy to offer the data.

What are the significant types of Static Var Compensator and Static Var Generator Market?

Static Var Compensator, Static Var Generator

What are the major end-use applications of Static Var Compensator and Static Var Generator Market?

Renewable Energy, Electric Utilities, Industrial & Manufacturing, Other

Do you provide customization of reports? If yes, how it will be charged?

Yes, we provide customization of reports based on your requirements. It will be charged based on the scope of customization. In addition.