Market Overview:
Static Var Compensator (SVC) and Static Var Generator (SVG) are two types of static var compensators. Static var compensators are used to improve the power quality and voltage stability in electrical systems, while static var generators are used to generate reactive power for improving the power factor. The global market for static var compensators is expected to grow at a CAGR of 5.5% from 2018 to 2030, while the market for static var generators is expected to grow at a CAGR of 6.0% from 2018 to 2030.
Product Definition:
A Static Var Compensator (SVC) is a power electronics device used to regulate voltage and improve power quality. It achieves this by absorbing or injecting reactive power into the electrical grid as needed.
A Static Var Generator (SVG) is a similar device, but can also generate reactive power. This makes it suitable for use in wind turbines and other renewable energy systems, where it can help to smooth out fluctuations in output caused by changes in wind speed or sunlight levels.
Static Var Compensator:
The static var compensator is a device that helps in the removal of electric charges from the system. It works by attracting and repelling charges to achieve a balanced condition. The SVC attracts charge to itself and eliminates it from the circuit, while at the same time generating an equivalent amount of negative voltage so as to cancel out any remaining positive voltage in the circuit.
Static Var Generator:
The static var generator is a device that generates the required number of static variables to be used in the Static Var Compensator (SVC) and Static Variable Generator (SVGR). The SVC uses these variables to calculate the compensation values, which are then sent to the transmitter. The SVGR can use these values directly or can generate new ones if needed.
Application Insights:
The other application segment includes the information technology (IT) industry and telecom sector. Other applications of SVC include renewable energy, electric utilities, industrial & manufacturing, and IT sectors. In 2017, the IT industry accounted for a significant market share in terms of demand as well as revenue. The growth can be attributed to factors such as rapid urbanization coupled with rising disposable income levels among consumers globally. This trend is expected to continue over the forecast period thereby driving global SVC adoption across various applications in near future.
Global static var compensator.
Regional Analysis:
North America accounted for the largest market share in 2017. The region is expected to continue its dominance over the forecast period owing to increasing demand for electricity and growing industrial sector. Moreover, technological advancements such as digital signal processing (DSP) and microprocessor control are also driving the regional market growth. Europe accounted for a significant revenue share in 2017 due to high penetration of these systems in major countries, such as Germany and Switzerland. Asia Pacific is projected to be one of the fastest-growing regions during the forecast period owing to rapid economic development coupled with rising energy consumption by industries, especially manufacturing units that use a lot of power equipment or motors.
The Middle East & Africa region has huge potential due both positively.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization
- Rapid expansion of renewable energy sources such as wind and solar, which need voltage regulation
- Aging grid infrastructure in developed countries that needs upgrading and replacement
- Growing popularity of electric vehicles, which require stable power quality to prevent glitches or malfunctions
- Emergence of new technologies such as blockchain that could increase the need for voltage regulation
Scope Of The Report
Report Attributes
Report Details
Report Title
Static Var Compensator and Static Var Generator Market Research Report
By Type
Static Var Compensator, Static Var Generator
By Application
Renewable Energy, Electric Utilities, Industrial & Manufacturing, Other
By Companies
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
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
236
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Static Var Compensator and Static Var Generator Market Report Segments:
The global Static Var Compensator and Static Var Generator market is segmented on the basis of:
Types
Static Var Compensator, Static Var Generator
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
Renewable Energy, Electric Utilities, Industrial & Manufacturing, Other
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
- 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
Highlights of The Static Var Compensator and Static Var Generator 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 Var Compensator
- Static Var Generator
- By Application:
- Renewable Energy
- Electric Utilities
- Industrial & Manufacturing
- Other
- 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 and Static Var Generator 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.
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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?
Static var compensator is a compiler optimization that replaces certain static variables with constant values during compilation. Static var generator is a tool that helps you create these constants.
Some of the major players in the static var compensator and static var generator market are 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.
The static var compensator and static var generator market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Static Var Compensator and Static Var Generator Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Static Var Compensator and Static Var Generator Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Static Var Compensator and Static Var Generator Market - Supply Chain
4.5. Global Static Var Compensator and Static Var Generator Market Forecast
4.5.1. Static Var Compensator and Static Var Generator Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Static Var Compensator and Static Var Generator Market Size (000 Units) and Y-o-Y Growth
4.5.3. Static Var Compensator and Static Var Generator Market Absolute $ Opportunity
5. Global Static Var Compensator and Static Var Generator Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Type
5.3.1. Static Var Compensator
5.3.2. Static Var Generator
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Static Var Compensator and Static Var Generator Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Application
6.3.1. Renewable Energy
6.3.2. Electric Utilities
6.3.3. Industrial & Manufacturing
6.3.4. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Static Var Compensator and Static Var Generator Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Static Var Compensator and Static Var Generator Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Static Var Compensator and Static Var Generator Demand Share Forecast, 2019-2026
9. North America Static Var Compensator and Static Var Generator Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Application
9.4.1. Renewable Energy
9.4.2. Electric Utilities
9.4.3. Industrial & Manufacturing
9.4.4. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Type
9.7.1. Static Var Compensator
9.7.2. Static Var Generator
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Static Var Compensator and Static Var Generator Demand Share Forecast, 2019-2026
10. Latin America Static Var Compensator and Static Var Generator Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Application
10.4.1. Renewable Energy
10.4.2. Electric Utilities
10.4.3. Industrial & Manufacturing
10.4.4. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Type
10.7.1. Static Var Compensator
10.7.2. Static Var Generator
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Static Var Compensator and Static Var Generator Demand Share Forecast, 2019-2026
11. Europe Static Var Compensator and Static Var Generator Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Application
11.4.1. Renewable Energy
11.4.2. Electric Utilities
11.4.3. Industrial & Manufacturing
11.4.4. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Static ar Compensator and Static Var Generator Market Size and Volume Forecast by Type
11.7.1. Static Var Compensator
11.7.2. Static Var Generator
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Static Var Compensator and Static Var Generator Demand Share, 2019-2026
12. Asia Pacific Static Var Compensator and Static Var Generator Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Application
12.4.1. Renewable Energy
12.4.2. Electric Utilities
12.4.3. Industrial & Manufacturing
12.4.4. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Type
12.7.1. Static Var Compensator
12.7.2. Static Var Generator
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Static Var Compensator and Static Var Generator Demand Share, 2019-2026
13. Middle East & Africa Static Var Compensator and Static Var Generator Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Static Var Compensator and Static Var Generator Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Application
13.4.1. Renewable Energy
13.4.2. Electric Utilities
13.4.3. Industrial & Manufacturing
13.4.4. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Static Var Compensator and Static Var Generator Market Size and Volume Forecast by Type
13.7.1. Static Var Compensator
13.7.2. Static Var Generator
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Static Var Compensator and Static Var Generator Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Static Var Compensator and Static Var Generator Market: Market Share Analysis
14.2. Static Var Compensator and Static Var Generator Distributors and Customers
14.3. Static Var Compensator and Static Var Generator Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. ABB
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Siemens
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Rongxin Power Electronic
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Sieyuan Electric
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Mitsubishi Electric
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Hitachi
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Toshiba
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. S&C Electric
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. GE
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Hangzhou Yinhu Electric
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. AMSC
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Xian XD Power
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Weihan
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Ingeteam
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Hengshun Zhongsheng
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Sinexcel
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Merus Power
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Baoding Sifang Sanyi Electric
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Xuji Group Corporation
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Zhiguang Electric
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
