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MCR Based Static VAR Compensator Market Share

Report ID: GMI11129
Published Date: Aug 2024
Report Format: PDF

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MCR Based Static VAR Compensator Market Share

MCR Based Static VAR Compensator Company Market Share Analysis, 2023

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American Superconductor is one of the leading companies in providing innovative power grid solutions including Static VAR Compensators. SVCs are critical in enhancing the stability and efficiency of power systems by regulating voltage and reactive power in real-time. AMSC's SVC technology is designed to optimize grid performance, reduce energy losses and improve power quality by mitigating issues including voltage sags, flicker and harmonics. These systems are particularly beneficial in industries with large, fluctuating loads and renewable energy integration offering a reliable solution for maintaining grid stability and supporting the efficient transmission of electricity.

MCR Based 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 of MCR based static VAR compensator was worth over USD 452.3 million in 2023 and will witness 4.1% CAGR between 2024 and 2032, driven by the integration of renewable energy sources and the rising demand for reactive power control.

The industrial MCR based static VAR compensator market segment is expected to attain USD 150 million by 2032, driven by the need for voltage stability, improved power factor, and energy efficiency in industries with fluctuating loads.

Asia Pacific MCR-based static VAR compensator market is projected to exceed USD 250 million by 2032, thrusted by a focus on energy efficiency and the rising integration of renewable energy sources into railway systems.

ABB, American Superconductor, Clariant Power System Limited, Delta Electronics, Inc., Eaton, and Elco Power, and among others.