Market Overview:
The global compensators for power electronics market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The market growth is attributed to the increasing demand for renewable energy sources and the growing need for reliable and efficient power transmission and distribution systems. The global compensators for power electronics market by type is segmented into static synchronous series compensator (SSSC), thyristor-switched series capacitor (TSSC), thyristor-switched series reactor (TSSR), thyristor-controlled series capacitor (TCSC), and thyristor-controlled series reactor (TCSR). The SSSC segment is expected to hold the largest share of the global compensators for power electronics market in 2018, owing to its high efficiency, reliability, and low maintenance requirements. However, the TCSR segment is projected to grow at the highest CAGR during the forecast period due to its ability to provide voltage stability in systems with large fluctuations in load current. The global compensators for power electronics market by application is divided into electric utilities, renewables, railways, industrial sector oil & gas sector. The electric utilities segment held majority of share of this market in 2017 owing rising demand from developing countries such as China India etc., where there has been an increase in investments relatedto upgradationof existing grid infrastructureand additionof new generation capacity from renewable sources such as solar photovoltaic wind etc.
Product Definition:
A compensator is a device or technique used to improve the performance of an electrical power system. The most common use of compensators in power systems is to maintain voltage stability. Other uses include improving transient response, regulating frequency, and reducing harmonic distortion.
Static Synchronous Series Compensator (SSSC):
The SSSC is a device that helps to stabilize the power supply in case of any fluctuations. It does this by creating an anti-phase current through the inductive element which then returns to its original phase after completing its cycle. The SSSC can be used with almost all electronic equipment such as electric motors, LED drivers, LCDs and other consumer electronics products.
Thyristor-Switched Series Capacitor (TSSC):
Thyristor-switched series capacitor (TSSC) is a type of electrolytic capacitor that utilizes switching mechanism to alter capacitance value. The switching takes place when voltage is applied across the terminals of the electrolytic capacitor, as a result, it switches between low and high capacitance values. It has applications in power electronics where it helps in enhancing performance by reducing noise & improving stability at high frequencies.
Application Insights:
Electric utilities was the dominant application segment in 2016, accounting for over 50% of the global market. Electric utilities use compensators to improve power quality by reducing voltage fluctuations and improving power factor. Voltage fluctuations are considered as a major concern for electric utility companies because it leads to increased expenditure on maintenance and also affects the performance of electrical equipment such as transformers, motors and switches. Compensators help in reducing these fluctuations by increasing the overall system efficiency.
The demand from renewable energy generation is expected to witness significant growth over the forecast period owing to rising concerns regarding VAR (Voltage-Amplitude-Rise) issues with respect to wind turbines that operate at high frequencies along with improved technical capabilities among end users resulting in an increased installation rate of these devices across various regions globally.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market from 2018 to 2030. The growth can be attributed to rising demand for power electronics in China and India on account of rapid industrialization, coupled with increasing investments in renewable energy infrastructure. Furthermore, growing electric vehicle production will also drive the product demand over the forecast period.
Europe accounted for a significant share of revenue in 2017 owing to early adoption of power electronics across various applications such as electric utilities, railways and oil & gas industries. Moreover, technological advancements such as implementation of thyristor-based series reactors are further expected to propel industry growth over the coming years.
Growth Factors:
- Increasing demand for electric vehicles
- Growing investments in smart grid infrastructure
- Rising need for energy efficiency and conservation
- Proliferation of renewable energy sources
- Development of next-generation power electronics technologies
Scope Of The Report
Report Attributes
Report Details
Report Title
Compensators For Power Electronics Market Research Report
By Type
Static Synchronous Series Compensator (SSSC), Thyristor-Switched Series Capacitor (TSSC), Thyristor-Switched Series Reactor (TSSR), Thyristor-Controlled Series Capacitor (TCSC), Thyristor-Controlled Series Reactor (TCSR)
By Application
Electric Utilities, Renewables, Railways, Industrial, Oil and Gas
By Companies
ABB, GE, Siemens, Mitsubishi Electric, Alstom, Eaton, NR Electric, Montnets Rongxin Technology Group, ABB
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
187
Number of Tables & Figures
131
Customization Available
Yes, the report can be customized as per your need.
Global Compensators For Power Electronics Market Report Segments:
The global Compensators For Power Electronics market is segmented on the basis of:
Types
Static Synchronous Series Compensator (SSSC), Thyristor-Switched Series Capacitor (TSSC), Thyristor-Switched Series Reactor (TSSR), Thyristor-Controlled Series Capacitor (TCSC), Thyristor-Controlled Series Reactor (TCSR)
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Electric Utilities, Renewables, Railways, Industrial, Oil and Gas
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- GE
- Siemens
- Mitsubishi Electric
- Alstom
- Eaton
- NR Electric
- Montnets Rongxin Technology Group
- ABB
Highlights of The Compensators For Power Electronics Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Static Synchronous Series Compensator (SSSC)
- Thyristor-Switched Series Capacitor (TSSC)
- Thyristor-Switched Series Reactor (TSSR)
- Thyristor-Controlled Series Capacitor (TCSC)
- Thyristor-Controlled Series Reactor (TCSR)
- By Application:
- Electric Utilities
- Renewables
- Railways
- Industrial
- Oil and Gas
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Compensators For Power Electronics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Compensators are used in power electronics to adjust the output voltage and current of an electronic device.
Some of the major companies in the compensators for power electronics market are ABB, GE, Siemens, Mitsubishi Electric, Alstom, Eaton, NR Electric, Montnets Rongxin Technology Group, ABB.
The compensators for power electronics market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Compensators For Power Electronics Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Compensators For Power Electronics Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Compensators For Power Electronics Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Compensators For Power Electronics Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Compensators For Power Electronics Market Size & Forecast, 2018-2028
4.5.1 Compensators For Power Electronics Market Size and Y-o-Y Growth
4.5.2 Compensators For Power Electronics Market Absolute $ Opportunity
Chapter 5 Global Compensators For Power Electronics Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Compensators For Power Electronics Market Size Forecast by Type
5.2.1 Static Synchronous Series Compensator (SSSC)
5.2.2 Thyristor-Switched Series Capacitor (TSSC)
5.2.3 Thyristor-Switched Series Reactor (TSSR)
5.2.4 Thyristor-Controlled Series Capacitor (TCSC)
5.2.5 Thyristor-Controlled Series Reactor (TCSR)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Compensators For Power Electronics Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Compensators For Power Electronics Market Size Forecast by Applications
6.2.1 Electric Utilities
6.2.2 Renewables
6.2.3 Railways
6.2.4 Industrial
6.2.5 Oil and Gas
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Compensators For Power Electronics Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Compensators For Power Electronics Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Compensators For Power Electronics Analysis and Forecast
9.1 Introduction
9.2 North America Compensators For Power Electronics Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Compensators For Power Electronics Market Size Forecast by Type
9.6.1 Static Synchronous Series Compensator (SSSC)
9.6.2 Thyristor-Switched Series Capacitor (TSSC)
9.6.3 Thyristor-Switched Series Reactor (TSSR)
9.6.4 Thyristor-Controlled Series Capacitor (TCSC)
9.6.5 Thyristor-Controlled Series Reactor (TCSR)
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Compensators For Power Electronics Market Size Forecast by Applications
9.10.1 Electric Utilities
9.10.2 Renewables
9.10.3 Railways
9.10.4 Industrial
9.10.5 Oil and Gas
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Compensators For Power Electronics Analysis and Forecast
10.1 Introduction
10.2 Europe Compensators For Power Electronics Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Compensators For Power Electronics Market Size Forecast by Type
10.6.1 Static Synchronous Series Compensator (SSSC)
10.6.2 Thyristor-Switched Series Capacitor (TSSC)
10.6.3 Thyristor-Switched Series Reactor (TSSR)
10.6.4 Thyristor-Controlled Series Capacitor (TCSC)
10.6.5 Thyristor-Controlled Series Reactor (TCSR)
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Compensators For Power Electronics Market Size Forecast by Applications
10.10.1 Electric Utilities
10.10.2 Renewables
10.10.3 Railways
10.10.4 Industrial
10.10.5 Oil and Gas
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Compensators For Power Electronics Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Compensators For Power Electronics Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Compensators For Power Electronics Market Size Forecast by Type
11.6.1 Static Synchronous Series Compensator (SSSC)
11.6.2 Thyristor-Switched Series Capacitor (TSSC)
11.6.3 Thyristor-Switched Series Reactor (TSSR)
11.6.4 Thyristor-Controlled Series Capacitor (TCSC)
11.6.5 Thyristor-Controlled Series Reactor (TCSR)
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Compensators For Power Electronics Market Size Forecast by Applications
11.10.1 Electric Utilities
11.10.2 Renewables
11.10.3 Railways
11.10.4 Industrial
11.10.5 Oil and Gas
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Compensators For Power Electronics Analysis and Forecast
12.1 Introduction
12.2 Latin America Compensators For Power Electronics Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Compensators For Power Electronics Market Size Forecast by Type
12.6.1 Static Synchronous Series Compensator (SSSC)
12.6.2 Thyristor-Switched Series Capacitor (TSSC)
12.6.3 Thyristor-Switched Series Reactor (TSSR)
12.6.4 Thyristor-Controlled Series Capacitor (TCSC)
12.6.5 Thyristor-Controlled Series Reactor (TCSR)
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Compensators For Power Electronics Market Size Forecast by Applications
12.10.1 Electric Utilities
12.10.2 Renewables
12.10.3 Railways
12.10.4 Industrial
12.10.5 Oil and Gas
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Compensators For Power Electronics Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Compensators For Power Electronics Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Compensators For Power Electronics Market Size Forecast by Type
13.6.1 Static Synchronous Series Compensator (SSSC)
13.6.2 Thyristor-Switched Series Capacitor (TSSC)
13.6.3 Thyristor-Switched Series Reactor (TSSR)
13.6.4 Thyristor-Controlled Series Capacitor (TCSC)
13.6.5 Thyristor-Controlled Series Reactor (TCSR)
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Compensators For Power Electronics Market Size Forecast by Applications
13.10.1 Electric Utilities
13.10.2 Renewables
13.10.3 Railways
13.10.4 Industrial
13.10.5 Oil and Gas
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Compensators For Power Electronics Market: Competitive Dashboard
14.2 Global Compensators For Power Electronics Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 GE
14.3.3 Siemens
14.3.4 Mitsubishi Electric
14.3.5 Alstom
14.3.6 Eaton
14.3.7 NR Electric
14.3.8 Montnets Rongxin Technology Group
14.3.9 ABB
