The global demand for Static VAR Compensator Market is presumed to reach the market size of nearly USD 1306.09 MN by 2030 from USD 890.77 MN in 2022 with a CAGR of 4.9% under the study period 2023 - 2030.
A Static VAR compensator is a device used in electric power systems. It improves the power factor and controls voltage levels. It is a type of flexible alternating current transmission system (FACTS) device that provides dynamic reactive power compensation.
The Static VAR compensator market is experiencing robust growth driven by factors aligned with the evolving landscape of power systems. The increasing demand for electricity, fueled by population growth and industrialization, underscores the need for such advanced technologies to enhance grid efficiency and reliability. Grid modernization initiatives worldwide, aimed at improving overall grid performance, significantly contribute to its demand. The integration of renewable energy sources introduces grid variability, making Static VAR compensators essential for stabilizing voltage and managing fluctuations. As governments emphasize grid reliability, these play a pivotal role in meeting stringent stability requirements. The expansion of high-voltage transmission networks and the optimization of power factors further drive the adoption of Static VAR compensators. Additionally, their role in reducing transmission losses aligns with utilities' goals of enhancing energy efficiency during power transmission.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of static var compensator. The growth and trends of static var compensator industry provide a holistic approach to this study.
This section of the static var compensator market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
By Component
By Vertical
This section covers the regional outlook, which accentuates current and future demand for the Static VAR Compensator market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Static VAR Compensator market include Rongxin Power Electronic Co., Ltd. (China), ABB Ltd (Switzerland), Siemens AG (Germany), General Electric (U.S.), Eaton Corp plc (Ireland), American Electric Power (U.S.), Hyosung (South Korea), NR Electric Co. Ltd. (China), Mitsubishi Electric Corp (Japan), and American Superconductor Corp. (US). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
1 . PREFACE
1.1. Report Description
1.1.1. Objective
1.1.2. Target Audience
1.1.3. Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Market Research Process
1.3.2. Market Research Methodology
2 . EXECUTIVE SUMMARY
2.1. Highlights of Market
2.2. Global Market Snapshot
3 . STATIC VAR COMPENSATOR – INDUSTRY ANALYSIS
3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.4. Opportunities
3.5. Industry Trends
3.6. Porter’s Five Force Analysis
3.7. Market Attractiveness Analysis
3.7.1 Market Attractiveness Analysis By Type
3.7.2 Market Attractiveness Analysis By Component
3.7.3 Market Attractiveness Analysis By Vertical
3.7.4 Market Attractiveness Analysis By Region
4 . VALUE CHAIN ANALYSIS
4.1. Value Chain Analysis
4.2. Raw Material Analysis
4.2.1. List of Raw Materials
4.2.2. Raw Material Manufactures List
4.2.3. Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
4.4.1. Direct Marketing
4.4.2. Indirect Marketing
4.4.3. Marketing Channel Development Trend
5 . GLOBAL STATIC VAR COMPENSATOR MARKET ANALYSIS BY TYPE
5.1 Overview by Type
5.2 Historical and Forecast Data
5.3 Analysis by Type
5.4 Thyristor-based (TCR-FC, TCR-TSC) Historic and Forecast Sales by Regions
5.5 MCR-based Historic and Forecast Sales by Regions
6 . GLOBAL STATIC VAR COMPENSATOR MARKET ANALYSIS BY COMPONENT
6.1 Overview by Component
6.2 Historical and Forecast Data
6.3 Analysis by Component
6.4 Power Electronic Device Historic and Forecast Sales by Regions
6.5 Harmonic Filter Historic and Forecast Sales by Regions
6.6 Thyristor Historic and Forecast Sales by Regions
6.7 Reactor Historic and Forecast Sales by Regions
6.8 Cap ...