Market Overview:
Static Var Compensator (SVC) is a power electronics device used to regulate voltage and current in an AC electrical grid. Static var compensators are used to improve the power quality of the grid, by reducing voltage fluctuations and harmonic distortion. Static var compensators can also help to increase the stability of the grid, by reducing or eliminating oscillations in voltage and current. The global static var compensator market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth of this market is driven by increasing demand for electricity worldwide, rising investments in renewable energy sources, and growing awareness about power quality issues.
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Product Definition:
A static var compensator (SVC) is a type of power electronics device used to regulate voltage and improve power quality. Static var compensators use thyristors to control the reactive power flow in an electrical grid, allowing them to stabilize voltage and reduce distortion. Static var compensators are important for maintaining stable voltage levels and improving the quality of electric power.
Thyristor Based:
The thyristor based static var compensator (SVC) market is expected to grow at a CAGR of XX% from 2016 to 2024. Thyristor based SVCs are used in power systems that have high switching frequency and short switching time. The system uses two or morethyristors connected in series between the load and source terminals of the power system, which controls the current flow through an electric motor by varying its voltage.
MCR-Based:
The Micro-channeled Relay (MCR) based static var compensator SVC) is a new type of variable capacitor that uses microchannels to route the current. It has been designed by researchers at Stanford University in collaboration with Hewlett Packard Enterprise Development LP and Texas Instruments Incorporated for high performance and low power applications. The research was published in June 2017, which detailed the new design approach.
Application Insights:
The electric utility application segment accounted for the largest share of over 30.0% in 2017. The SVC is used in power generation and transmission & distribution sectors for improving line frequency and voltage, as well as increasing power generation from low-cost sites. thyristor based SVCs are used to increase system efficiency by reducing operating losses caused due to un-used energy on tapering off at high loads or when the grid becomes saturated. Increasing number of coal-fired power plants across various countries has resulted in increased demand for compensating devices that can smooth out fluctuations in output from these plants, thereby helping utilities manage their overall operations more efficiently while also ensuring reliable service delivery at a reasonable cost.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The region has been witnessing strong economic growth on account of increasing industrial output and manufacturing activities in countries, such as China, India, Japan and South Korea. Increasing investments in infrastructure development are also expected to drive the demand for electric motors and other products over the next eight years.
Europe accounted for a significant share of global revenue owing to early adoption of var compensators across industries coupled with stringent regulatory scenario pertaining to carbon emissions from power generation sources. Stringent environmental regulations by various agencies have forced power producers in Europe to adopt cleaner technologies that do not emit harmful carbon dioxide gas at source thereby driving SVCs market growth across this region as well.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization
- Rapid expansion of renewable energy sources such as wind and solar, which require voltage regulation
- Aging infrastructure requiring replacement or upgrade
- New regulations encouraging utilities to improve power quality and reliability
- Advances in Static Var Compensator technology that make them more efficient, reliable, and affordable
Scope Of The Report
Report Attributes
Report Details
Report Title
Static Var Compensator（SVC) Market Research Report
By Type
Thyristor Based, MCR-Based, Others
By Application
Electric Utility, Renewable- Wind Power & Solar Farm, Railway, Industrial- Steel & Mining, Oil & Gas, Others
By Companies
Rongxin Power Electronic Co., Ltd. (China), ABB Ltd. (Switzerland), General Electric (U.S.), Siemens AG (Germany), Eaton Corp plc (Ireland), American Electric Power (U.S.), Hyosung (South Korea), NR Electric Co. Ltd. (China), Mitsubishi Electric Corp. (Japan), American Superconductor Corp. (U.S.), Rongxin Power Electronic Co., Ltd. (China)
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
217
Number of Tables & Figures
152
Customization Available
Yes, the report can be customized as per your need.
Global Static Var Compensator（SVC) Market Report Segments:
The global Static Var Compensator（SVC) market is segmented on the basis of:
Types
Thyristor Based, MCR-Based, Others
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 Utility, Renewable- Wind Power & Solar Farm, Railway, Industrial- Steel & Mining, Oil & Gas, Others
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:
- Rongxin Power Electronic Co., Ltd. (China)
- ABB Ltd. (Switzerland)
- General Electric (U.S.)
- Siemens AG (Germany)
- Eaton Corp plc (Ireland)
- American Electric Power (U.S.)
- Hyosung (South Korea)
- NR Electric Co. Ltd. (China)
- Mitsubishi Electric Corp. (Japan)
- American Superconductor Corp. (U.S.)
- Rongxin Power Electronic Co., Ltd. (China)
 Market Overview.svg)
Highlights of The Static Var Compensator（SVC) 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:
- Thyristor Based
- MCR-Based
- Others
- By Application:
- Electric Utility
- Renewable- Wind Power & Solar Farm
- Railway
- Industrial- Steel & Mining
- Oil & Gas
- Others
- 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 Static Var Compensator（SVC) 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:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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 Market Statistics.svg)
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?
Static var compensator (SVC) is a compiler optimization technique that replaces a variable with its static value at compile time. This can improve performance by reducing the number of memory accesses required to calculate the variable's value.
Some of the major companies in the static var compensator（svc) market are Rongxin Power Electronic Co., Ltd. (China), ABB Ltd. (Switzerland), General Electric (U.S.), Siemens AG (Germany), Eaton Corp plc (Ireland), American Electric Power (U.S.), Hyosung (South Korea), NR Electric Co. Ltd. (China), Mitsubishi Electric Corp. (Japan), American Superconductor Corp. (U.S.), Rongxin Power Electronic Co., Ltd. (China).
The static var compensator¯¼ë†svc) market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Static Var Compensator（SVC) 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 Static Var Compensator（SVC) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Static Var Compensator（SVC) 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 Static Var Compensator（SVC) 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 Static Var Compensator（SVC) Market Size & Forecast, 2020-2028
4.5.1 Static Var Compensator（SVC) Market Size and Y-o-Y Growth
4.5.2 Static Var Compensator（SVC) Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Thyristor Based
5.2.2 MCR-Based
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Electric Utility
6.2.2 Renewable- Wind Power & Solar Farm
6.2.3 Railway
6.2.4 Industrial- Steel & Mining
6.2.5 Oil & Gas
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Static Var Compensator（SVC) 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 Static Var Compensator（SVC) 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Thyristor Based
9.6.2 MCR-Based
9.6.3 Others
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 Market Size Forecast by Applications
9.10.1 Electric Utility
9.10.2 Renewable- Wind Power & Solar Farm
9.10.3 Railway
9.10.4 Industrial- Steel & Mining
9.10.5 Oil & Gas
9.10.6 Others
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Thyristor Based
10.6.2 MCR-Based
10.6.3 Others
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 Market Size Forecast by Applications
10.10.1 Electric Utility
10.10.2 Renewable- Wind Power & Solar Farm
10.10.3 Railway
10.10.4 Industrial- Steel & Mining
10.10.5 Oil & Gas
10.10.6 Others
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Thyristor Based
11.6.2 MCR-Based
11.6.3 Others
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 Market Size Forecast by Applications
11.10.1 Electric Utility
11.10.2 Renewable- Wind Power & Solar Farm
11.10.3 Railway
11.10.4 Industrial- Steel & Mining
11.10.5 Oil & Gas
11.10.6 Others
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Thyristor Based
12.6.2 MCR-Based
12.6.3 Others
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 Market Size Forecast by Applications
12.10.1 Electric Utility
12.10.2 Renewable- Wind Power & Solar Farm
12.10.3 Railway
12.10.4 Industrial- Steel & Mining
12.10.5 Oil & Gas
12.10.6 Others
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Thyristor Based
13.6.2 MCR-Based
13.6.3 Others
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) Market Size Forecast by Applications
13.10.1 Electric Utility
13.10.2 Renewable- Wind Power & Solar Farm
13.10.3 Railway
13.10.4 Industrial- Steel & Mining
13.10.5 Oil & Gas
13.10.6 Others
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 Static Var Compensator（SVC) Market: Competitive Dashboard
14.2 Global Static Var Compensator（SVC) Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Rongxin Power Electronic Co., Ltd. (China)
14.3.2 ABB Ltd. (Switzerland)
14.3.3 General Electric (U.S.)
14.3.4 Siemens AG (Germany)
14.3.5 Eaton Corp plc (Ireland)
14.3.6 American Electric Power (U.S.)
14.3.7 Hyosung (South Korea)
14.3.8 NR Electric Co. Ltd. (China)
14.3.9 Mitsubishi Electric Corp. (Japan)
14.3.10 American Superconductor Corp. (U.S.)
14.3.11 Rongxin Power Electronic Co., Ltd. (China)
