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Fixed Series Compensation Market Size

Report ID: GMI5298
Published Date: Aug 2022
Report Format: PDF

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Fixed Series Compensation Market Size

Fixed Series Compensation Market size exceeded USD 250 million in revenue in 2021 and is expected to grow at a CAGR of more than 5% from 2022 to 2030. Prevalent demand for robust electricity infrastructure is likely to fuel the industry growth.

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High government emphasis on maximizing the safety of high-voltage transmission lines will have a prominent impact on the demand for reactive power compensation. Furthermore, mounting integration of energy grid infrastructure with renewable sources of energy will promote industry progression.

Continuous product advancements will boost the fixed series compensation market development. Companies are indulging in strategic growth partnerships and expanding manufacturing facilities to improve their position. Additionally, government investments in grid infrastructure projects benefit companies in terms of revenue generation.

Fixed Series Compensation Market Report Attributes
Report Attribute	Details
Base Year:	2021
Fixed Series Compensation Market Size in 2021:	250 Million (USD)
Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	5%
2030 Value Projection:	400 Million (USD)
Historical Data for:	2018 to 2021
No. of Pages:	176
Tables, Charts & Figures:	166
Segments covered:	Type, Application, and Region
Growth Drivers:	Rising peak load and overall electricity demand Maximum safety in transmission and distribution network Expansion of electric grid network Grid stability & security of supply concerns Integration of a sustainable electrical network
Pitfalls & Challenges:	Fluctuating material cost Slow-paced technological evolution across developing regions

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Inflated cost of operation and sluggish technological evolution

The unforeseen fluctuations in raw material costs, demand & supply gap, commodity price volatility, and unstable product value chain are hindering final tool & equipment prices, thereby hampering product adoption among customers.

However, sizable government investments in improving grid infrastructure across the globe and companies collaborating to bolster stability in power transmission lines will stimulate fixed series compensation market outlook.

Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

In 2021, the market size of fixed series compensation surpassed USD 250 million in revenue and may grow at 5% CAGR over 2022-2030 driven by prevalent demand for robust electricity infrastructure.

The utilities segment will grow at a CAGR of approximately 5% through 2030 as fixed series compensation finds extensive usage in utilities for managing and maintaining grid efficiency & reliability at its full capacity.

The low voltage fixed series compensation segment held around 20% market share due to its wide utilization in residential and commercial areas and the ability of low voltage FSC to reduce voltage instability and improve the power factor of connected devices.

The Europe fixed series compensation industry will attain over 5% gains from 2022 to 2030 as a result of rising electricity demand in the region, particularly owing to soaring industrial production and population growth.