Home > Energy & Power > Thyristor Based Static VAR Compensator Market
Thyristor Based Static VAR Compensator Market Size
- Report ID: GMI10767
- Published Date: Aug 2024
- Report Format: PDF
Thyristor Based Static VAR Compensator Market Size
Thyristor Based Static VAR Compensator Market was valued at USD 825.8 million in 2023 and is set to grow at a CAGR of over 5.2% from 2024 to 2032. The growing integration of renewable energy sources combined with the rising demand for reactive power control to maintain grid stability will stimulate the business landscape.
A thyristor based static VAR compensator is a device used in power systems to regulate and stabilize voltage levels by providing dynamic reactive power compensation. It consists of power electronics, such as thyristors, which are used to control the flow of reactive power, either by absorbing or injecting it into the grid. SVCs help maintain grid stability by quickly responding to voltage fluctuations and ensuring that the power factor remains within desired limits. They are employed in industrial applications, transmission networks, and renewable energy systems to enhance power quality, reduce losses and prevent voltage collapse.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Thyristor Based Static VAR Compensator Market Size in 2023: | USD 825.8 Million |
| Forecast Period: | 2024-2032 |
| Forecast Period 2024-2032 CAGR: | 5.2% |
| 2032 Value Projection: | USD 1.29 Billion |
| Historical Data for: | 2021-2023 |
| No. of Pages: | 125 |
| Tables, Charts & Figures: | 40 |
| Segments covered: | Application & Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Thyristor Based Static VAR Compensator Market Scope
