Home > Semiconductors & Electronics > Telecom and Networking > Communication > Static Synchronous Compensator (STATCOM) Market

Static Synchronous Compensator (STATCOM) Market Share

Report ID: GMI5296
Published Date: Aug 2022
Report Format: PDF

Download Free Sample

Static Synchronous Compensator (STATCOM) Market Share

Major companies operating in the STATCOM market landscape include

Siemens
Hitachi
GE Energy
Mitsubishi
Sieyuan Electric
Hyosung Heavy Industries
Ingeteam S.A.
American Superconductor
Eaton Corporation
RXHK

The firms are engaged in teaming up with utility & industrial players to integrate STATCOMs into their ecosystems. This move will allow them to expand their share over the long run.

For example, in September 2021, Siemens Energy announced its plans to supply four STATCOM solutions to LS Power Grid California, LLC. This move will allow the company to absorb reactive power and regulate uneven voltage supply at the point of connection in the grid. The firm aims to support the mission of decarbonization in California through an effective energy mix.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of STATCOM valued at USD 800 million in 2021 and is anticipated to record more than 13% CAGR from 2022 to 2030, says this GMI report.

Global STATCOM industry value from the electricity network application will surpass USD 1.5 billion by 2030 due to the rising need for regulating devices that stabilize the power supply and network functioning.

APAC market is expected to hold around 55% of the revenue share by 2030 with the growing demand for electricity and a new energy mix, which consists of different fuel and renewable energy sources.

Siemens, Hitachi, GE Energy, Mitsubishi, Eaton Corporation, and American Superconductor, among others, are the leading players in the static synchronous compensator industry.