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Static VAR Compensator Market Share

Report ID: GMI7012
Published Date: Oct 2023
Report Format: PDF

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Static VAR Compensator Market Share

The leading companies in the industry have been consistently enhancing surge protection technology to offer superior safeguarding for delicate electronic equipment. These improvements encompass innovations in surge protection components, voltage clamping mechanisms, and response time. Prominent players in the market comprises of:

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

ABB is a multinational company specializing in power and automation technologies, and they offer a wide range of solutions for power quality and grid stability, including SVCs. Static VAR Compensators are used to control voltage and power factor in electrical systems, helping to stabilize the grid and improve the quality of power distribution. ABB's SVC solutions were widely recognized for their quality and effectiveness.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of static VAR compensator was worth USD 1.3 billion in 2023 and is estimated to surpass USD 1.9 billion by 2032.

The thyristor-based static VAR compensator market will witness 5.1% CAGR from 2023 to 2032, owing to the increasing need for reactive power control and voltage stability in electrical grids.

Asia Pacific static VAR compensator industry was valued at USD 496.3 million in 2022 and will grow through 2032, owing to the rapid industrialization and urbanization along with increase in energy consumption across the region.

American Superconductor, General Electric, Hitachi Energy Ltd., Mitsubishi Electric Power Products, Inc., Nidec Industrial Solutions, NISSIN ELECTRIC Co. Ltd., NR Electric Co., Ltd., Siemens, ABB, Toshiba Energy Systems & Solutions Corporation, JEMA Energy, RXPE, Merus Power, and Elco Power.