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Asia Pacific Static VAR Compensator Market Share

Report ID: GMI9910
Published Date: Jun 2024
Report Format: PDF

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Asia Pacific Static VAR Compensator Market Share

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Elco Power specializes in the design and manufacture of Static VAR Compensators (SVCs), offering advanced solutions for power quality and voltage stability in electrical grids. Their SVCs are tailored to meet the specific requirements of utilities, industrial facilities, and renewable energy installations. The company utilizes cutting-edge thyristor-controlled reactors and capacitors to regulate reactive power, mitigating voltage fluctuations and enhancing system efficiency rapidly and precisely. With a commitment to innovation and reliability, its SVCs are trusted worldwide for optimizing grid performance and ensuring reliable power supply in diverse applications.

Asia Pacific Static VAR Compensator Market Companies

The key industry players include:

ABB
American Superconductor
Clariant Power System Limited
Delta Electronics, Inc.
Eaton
Elco Power
General Electric
Hitachi Energy Ltd.
JEMA Energy
Merus Power
Mitsubishi Electric Power Products, Inc.
Nidec Industrial Solutions
NISSIN ELECTRIC Co. Ltd.
NR Electric Co., Ltd.
Siemens
Sieyuan Electric Co., Ltd.
Toshiba Energy Systems & Solutions Corporation
Wärtsilä

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size for static VAR compensator in Asia Pacific reached USD 516.5 million in 2023 and is set to witness 4.9% CAGR between 2024 to 2032, owing to grid integration of renewable energy sources and the surging upgradation of distribution systems.

Asia Pacific static VAR compensator industry from the MCR-based segment will record USD 250 million by 2032, driven by the robust development of smart grid and the increasing demand for reactive power control and voltage stability in power grids.

China market size is set to surpass USD 200 million by 2032, led by rising industrialization and the need to improve energy efficiency, reduce costs, and manage power factor penalties effectively.

ABB, American Superconductor, Clariant Power System Limited, Delta Electronics, Inc., Eaton, Elco Power, General Electric, Hitachi Energy Ltd., JEMA Energy, and Merus Power, among others.