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MCR Based Static VAR Compensator Market Trends

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

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MCR Based Static VAR Compensator Market Trends

The MCR based static VAR compensator industry is witnessing significant growth driven by the increasing demand for efficient power transmission and distribution systems. The modular nature of the MCR-based SVC provides scalability making it suitable for a wide range of applications from small industrial settings to large utility grids. Additionally, its ability to offer continuous and smooth reactive power control along with lower harmonic distortion, makes it a preferred choice for modern power systems, driving the industry potential.

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.