Static VAR Compensator Market By Type (Thyristor based, MCR based), By Component (GIS switchgear, Phase shifting transformer, Control protection system, Harmonic filter, Thyristor, Reactor), By End User (Electric Utility, Wind power grid, Solar farm, Railway, Steel Industry, Mining Industry, Oil & Gas Industry), Industry Trends, Estimation & Forecast, 2017 - 2025

July 2018

 Pages: 184

 ERC 4509


Static VAR compensator market is expected to grow with a CAGR of XX% during the forecast period of 2018 to 2025.

Static VAR compensator, also referred to as SVC, is a power electronic tool used to control the voltage in transmission lines and improve the power quality in large industrial sectors. A SVC increases the power transmission capacity of electricity transmission networks, improves load factor, and keeps the electricity system stable against the fluctuating voltages. Static VAR compensator is required in wind power grid and solar farms to regulate the reactive power generated and eventually decrease the voltage fluctuations. The increasing awareness about renewable sources of energy such as solar & wind, and the need of such energy are driving the growth of the global static VAR compensator market. According to the data released by the International Renewable Energy Agency (IRENA), in 2017, the global production of electricity produced from renewable energy sources reached around 2,179 GW, recording a growth of 8.3% over the previous year. Such growth in the renewable energy production along with the need for constant & reliable power supply, which is delivered with the help of SVC, is fuelling the growth of the market. However, high cost of SVCs, high political intervention, and lack of awareness about MCR based SVCs are hampering the growth of the global static VAR compensator market. According to the information revealed by MNRE, Indian government is planning world’s largest renewable energy expansion program by 2022 that will generate 175 GW of energy. Such expansion of renewable energy production plants in the developing countries such as China and India is anticipated to render lucrative opportunities to the leading market players in the Asia pacific market.

The report provides detailed qualitative and quantitative analysis of the static VAR compensator market. Market size and forecast in terms of value and volume has been provided for the period - (2017 – 2025) for the segments namely type, component, and end user in each of the major regions.

Static VAR Compensator Market Player Analysis

The report presents detailed analysis of major players operating in static VAR compensator market. Few of them include Mitsubishi Electric Corp., Rongxin Power Electronic Co., Ltd., ABB Ltd., NR Electric Co. Ltd., General Electric, American Superconductor Corp., Eaton Corp plc, American Electric Power, Siemens AG, and Hyosung. Detailed coverage on these market players with information on their revenue from static VAR compensator business, market share, gross margin and their growth strategies have been provided in the report.

Static VAR Compensator Market Segmentation

Static VAR compensator market is segmented on the basis of type, component, end user and geography. By type, the market is segmented into thyrister based and MCR based. Based on component, the market is categorized into GIS switchgear, phase shifting transformer, control protection system, harmonic filter, thyristor, reactor, and other. On the basis of end user, the market is segregated into electric utility, wind power grid, solar farm, railway, steel industry, mining industry, oil & gas industry, and other. Geographical coverage has been provided for each of the major regions including North America, Europe, Asia-Pacific, South America and Rest of the World.

Static VAR Compensator Market Segmentation

By Type
•    Thyristor based
•    MCR based

By Component
•    GIS switchgear
•    Phase shifting transformer
•    Control protection system
•    Harmonic filter
•    Thyristor
•    Reactor
•    Other

By End User
•    Electric Utility
•    Wind power grid
•    Solar farm
•    Railway
•    Steel Industry
•    Mining Industry
•    Oil & Gas Industry
•    Other

By Geography
•    North America
o    U.S.
o    Canada
o    Mexico
•    Europe
o    U.K.
o    France
o    Germany
o    Italy
o    Spain
o    Rest of Europe
•    Asia-Pacific
o    China
o    Japan
o    India
o    Korea
o    Rest of APAC
•    South America
o    Brazil
o    Rest of South America
•    Rest of the World
o    Middle East
o    Africa

Static VAR Compensator Market Key Players

•    Mitsubishi Electric Corp.
•    Rongxin Power Electronic Co., Ltd.
•    ABB Ltd.
•    NR Electric Co. Ltd.
•    General Electric
•    American Superconductor Corp.
•    Eaton Corp plc
•    American Electric Power
•    Siemens AG
•    Hyosung

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    What Information does this report contain?

    • What was the market size of the Static VAR Compensator Market in 2017 and the expected market size by 2025, along with the growth rate?
    • An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
    • Which are the largest revenue generating products, services or regions and their comparative growth rate?
    • Which technology is in trend and how would it evolve during the forecast period (2017 - 2025)?
    • Which are the leading companies in the Static VAR Compensator Market and their competitive positioning basis their market share, product portfolio, strategic attempts and business focus?

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