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2021
Static Var Compensator Market

Static VAR Compensator Market by Type (Thyristor-based and MCR-based), Component (Power Electronic Device, Harmonic Filter, Thyristor, Reactor, Capacitor Bank, GIS Switchgear, Control Protection System, and Others), and End Use (Electric Utility, Railways, Industrial, and Oil & Gas): Global Opportunity Analysis and Static VAR Compensator Industry Forecast, 2021–2030

A13634
Pages: 230
Sep 2021 | 320 Views
   
Author(s) : Nikhil Mittal , Eswara Prasad
Tables: 130
Charts: 78
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Static VAR Compensator Market Outlook - 2030

The global static VAR compensator market size was valued at $758.2 million in 2020, and is projected to reach $1,135.4 million by 2030, growing at a CAGR of 4.1% from 2021 to 2030. Parallel combination of controlled reactor and shunt capacitor that is fixed forms the assembly for static VAR compensator. Static VAR compensator is used to modify the output of inductive current that further manages bus voltage factor. In addition, this device is capable of reducing the reactive power across extended ranges that further shows zero time delay.        

The static VAR compensator market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on electric utility, railways, steel and metal, mining, and oil & gas sectors. According to a report published by the National Bureau of Statistics of China, the large-scale manufacturing industry witnessed 20% decline in production in March 2020 as compared to March 2019 while profits declined by 66%.

The growing population has surged the demand for a wide range of consumer goods, which, in turn, has led the industrial manufacturing sectors to witness rapid growth. For instance, according to a report published by Trading Economics, the industrial production in India rosy by 13.6% year-on-year in June 2021, owing to increased demand for basic metals, refined petroleum products, motor vehicles, and other advanced materials. These large-scale industries, especially steel industries experience huge power fluctuations that hamper both the ongoing operations and equipment. A static VAR compensator is a set of electrical devices that stabilizes voltage output to maintain specific voltage parameters required for industrial applications. This has made the key large-scale industrial sectors, such as steel, cement, power utility, and others, use static VAR compensators for voltage compensation purposes. All these factors collectively surge the demand for static VAR compensator, thereby augmenting the global market growth.

Static-VAR-Compensator-Market-2021-2030

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However, static VAR compensators comprise one or more banks of fixed shunt reactors and capacitors such as thyristor controlled reactor (TCR), thyristor switched capacitor (TSC), mechanically switched reactors or capacitors, harmonic filters, and others. The combination of these equipment makes static VAR compensator expensive for small industries. This factor is expected to restrain the growth of the static VAR compensator market during the forecast period. 

On the contrary, the advanced digital control algorithm for the SVC system developed by General Electronics represents the latest design methodology by using a powerful model-based design approach. It is built by using a core library of complex control algorithms with automated code generation for all testing and verification stages. It also consists of a built-in event logger with automated time stamping of 1-millisecond resolution and can be remotely accessed via the internet using a secured protocol. This model-based advanced digital control algorithm for the SVC system has already revolutionized the approach for critical control software in power grids, aviation, renewable energy, and other sectors. Thus, the use of advance digital control SVC systems with automated control features is anticipated to open up new sales opportunities in the market. 

The global static VAR compensator market analysis is done on the basis of type, component, end use, and region. Depending on type, the market is divided into thyristor-based and MCR-based. On the basis of component, it is fragmented into power electronic device, harmonic filter, thyristor, reactor, capacitor bank, GIS switchgear, control protection system, and others. The end users covered in the study include electric utility, railways, industrial, and oil & gas. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

The major companies profiled in this report include American Superconductor Corporation, Eaton, General Electric, Hitachi ABB Power Grids, Mitsubishi Electric Corporation, Nidec Industrial Solutions, NISSIN ELECTRIC Co., Ltd., NR Electric Co., Ltd., Rongxin Power Ltd., and Siemens AG. 

Static VAR compensator market, by region

The Asia-Pacific static VAR compensator market is projected to grow at the highest CAGR of 5.6% during the forecast period and accounted for 29.4% of the static VAR compensator market share in 2020. The utilization of static VAR compensators in sectors, such as steel and metal, electric utility, railways, and others, is the key market trend in the Asia-Pacific region. The proliferating demand for steel and metal-based products among building & construction, automotive, and other sectors in China and India has surged the sales of static VAR compensators.

Static VAR Compensator Market
By Region

2030
Apac 
North America
Europe
Lamea

Asia Pacific is the fastest growing region

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Static VAR compensator market, by type

In 2020, the thyristor-based segment was the largest revenue generator, and is anticipated to grow at a CAGR of 3.9% during the forecast period. Increasing utilization of three-phase electric power systems in large-scale industries, such as steel production, mining, and others, where thyristor-based static VAR compensators are widely employed for controlling the voltage across the inductor may propel the market growth.

Static VAR Compensator Market
By Type

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Thyristor-based segment is the most lucrative in the market

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Static VAR compensator market, by component

By technology, the thyristor segment dominated the global market in 2020, and is anticipated to grow at a CAGR of 4.4% during forecast period. The use of thyristor in static VAR compensator enhances various significant characteristics such as high power factor, quick response time, reactor control in real time, and others. The utilization of static VAR compensator in steel production, mining, and others is the major key market trend in the global market. 

Static VAR Compensator Market
By Component

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Thyristor is the most lucrative segment

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Static VAR compensator market, by end-use

In 2020, the electric utility segment was the largest revenue generator, and is anticipated to grow at a CAGR of 4.3% during the forecast period. The emergence of industry 4.0 in electric utility sectors has escalated the sales of automated static VAR compensators for voltage compensation applications, thereby fueling the market growth.

Static VAR Compensator Market
By End-use Sector

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Railways end-use sector is the fastest growing segment

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Key benefits for stakeholders

  • Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • It outlines the current static VAR compensator market trends and future estimations from 2020 to 2030 to understand the prevailing static VAR compensator market opportunities and potential investment pockets.
  • The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
  • The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
  • The profiles of key players and their key strategic developments are enlisted in the report.

Impact Of Covid-19 On The Global Static Var Compensator Market

  • The novel coronavirus led to an incomparable global pandemic that spread to over 180 countries and caused huge losses of lives and the economy around the globe. 
  • The static VAR compensator market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on electric utility, railways, steel and metal, mining, heavy industrial, oil and gas, and other sectors. 
  • According to a report published by the National Bureau of Statistics of China, the large-scale manufacturing industry witnessed 20% decline in production in March 2020 as compared to March 2019 while profits declined by 66%. Several companies have either shut down or minimized their operations due to the risk of infections among the workforce where static VAR compensators are used for voltage stabilization purposes. This has temporarily hampered the growth of the static VAR compensator market amid the COVID-19 period. 
  • In addition, the falling income of customers and travel restrictions imposed by both local and government bodies for running special trains on selected routes has led to a contraction of the demand for static VAR compensators among railways. According to a report published by Energy and Economic Growth Survey, the oil & gas sector is among the hardest hit sector with an average contraction of -2.8% in 2020. This has decreased the demand for static VAR compensator for voltage compensation applications in the oil and gas sector. In addition, around 180 countries have temporarily stopped the trade of unnecessary products, which, in turn, has hampered the demand-supply chain of static VAR compensators amid the COVID-19 situation. 

Key market segments

By Type

  • Thyristor-based
    • TCR-FC
    • TCR-TSC
  • MCR-Based

By Component

  • Power Electronic Device
  • Harmonic Filter
  • Thyristor
  • Reactor
  • Capacitor Bank
  • GIS Switchgear
  • Control Protection System
  • Others

By End Use

  • Electric Utility
  • Railways
  • Industrial
    • Steel and Metal
    • Mining
    • Heavy Industrial
  • Oil and Gas

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Secondary research
1.4.2.Primary research

1.5.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings of the study
2.2.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key findings

3.2.1.Top investment pockets

3.3.Porter’s five forces analysis
3.4.Market dynamics

3.4.1.Drivers

3.4.1.1.Escalating demand among industrial and power infrastructure sectors
3.4.1.2.Increasing demand for renewable energy sources

3.4.2.Restraint

3.4.2.1.High installation cost

3.4.3.Opportunity

3.4.3.1.Advanced digital control algorithm

3.5.Value chain analysis
3.6.Impact of key regulations on the global static VAR compensator market
3.7.Impact of COVID-19 on the global static VAR compensator market
3.8.Patent analysis, 2012-2021

CHAPTER 4:STATIC VAR COMPENSATOR MARKET, BY TYPE

4.1.Overview

4.1.1.Market size and forecast

4.2.Thyristor-based

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market share analysis, by country

4.3.Thyristor-based by type
Further, the thyristor-based segment is divided into:
•TCR-FC
•TCR-TSC
4.4.TCR-FC

4.4.1.Market size and forecast, by region
4.4.2.Market share analysis, by country

4.5.TCR-TSC

4.5.1.Market size and forecast, by region
4.5.2.Market share analysis, by country

4.6.MCR-based

4.6.1.Key market trends, growth factors, and opportunities
4.6.2.Market size and forecast, by region
4.6.3.Market share analysis, by country

CHAPTER 5:STATIC VAR COMPENSATOR MARKET, BY COMPONENT

5.1.Overview

5.1.1.Market size and forecast, by component

5.2.Power electronic device

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market share analysis, by country

5.3.Harmonic filter

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market share analysis, by country

5.4.Thyristor

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region

5.5.Reactor

5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by region
5.5.3.Market share analysis, by country

5.6.Capacitor bank

5.6.1.Key market trends, growth factors, and opportunities
5.6.2.Market size and forecast, by region
5.6.3.Market share analysis, by country

5.7.GIS switchgear

5.7.1.Key market trends, growth factors, and opportunities
5.7.2.Market size and forecast, by region
5.7.3.Market share analysis, by country

5.8.Control protection system

5.8.1.Key market trends, growth factors, and opportunities
5.8.2.Market size and forecast, by region
5.8.3.Market share analysis, by country

5.9.Others (phase shifting transformer (PST) and surge arrester)

5.9.1.Key market trends, growth factors, and opportunities
5.9.2.Market size and forecast, by region
5.9.3.Market share analysis, by country

CHAPTER 6:STATIC VAR COMPENSATOR MARKET, BY END USE

6.1.Overview

6.1.1.Market size and forecast

6.2.Electric utility

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region
6.2.3.Market share analysis, by country

6.3.Railways

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region
6.3.3.Market share analysis, by country

6.4.Industrial

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by region
6.4.3.Market share analysis, by country

6.5.Industrial by end use
The industrial segment is divided into:
•Steel and metal
•Mining
•Heavy industrial
6.6.Steel and metal

6.6.1.Market size and forecast, by region
6.6.2.Market share analysis, by country

6.7.Mining

6.7.1.Market size and forecast, by region
6.7.2.Market share analysis, by country

6.8.Heavy industrial

6.8.1.Market size and forecast, by region
6.8.2.Market share analysis, by country

6.9.Oil and gas

6.9.1.Key market trends, growth factors, and opportunities
6.9.2.Market size and forecast, by region
6.9.3.Market share analysis, by country

CHAPTER 7:STATIC VAR COMPENSATOR MARKET, BY REGION

7.1.Overview

7.1.1.Market size and forecast

7.2.North America

7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by type
7.2.3.Market size and forecast, by component
7.2.4.Market size and forecast, by end use
7.2.5.Market share analysis, by country
7.2.6.U.S.

7.2.6.1.Market size and forecast, by type
7.2.6.2.Market size and forecast, by component
7.2.6.3.Market size and forecast, by end use

7.2.7.Canada

7.2.7.1.Market size and forecast, by type
7.2.7.2.Market size and forecast, by component
7.2.7.3.Market size and forecast, by end use

7.2.8.Mexico

7.2.8.1.Market size and forecast, by type
7.2.8.2.Market size and forecast, by component
7.2.8.3.Market size and forecast, by end use

7.3.Europe

7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by type
7.3.3.Market size and forecast, by component
7.3.4.Market size and forecast, by end use
7.3.5.Market size and forecast, by country
7.3.6.Germany

7.3.6.1.Market size and forecast, by type
7.3.6.2.Market size and forecast, by component
7.3.6.3.Market size and forecast, by end use

7.3.7.UK

7.3.7.1.Market size and forecast, by type
7.3.7.2.Market size and forecast, by component
7.3.7.3.Market size and forecast, by end use

7.3.8.France

7.3.8.1.Market size and forecast, by type
7.3.8.2.Market size and forecast, by component
7.3.8.3.Market size and forecast, by end use

7.3.9.Italy

7.3.9.1.Market size and forecast, by type
7.3.9.2.Market size and forecast, by component
7.3.9.3.Market size and forecast, by end use

7.3.10.Spain

7.3.10.1.Market size and forecast, by type
7.3.10.2.Market size and forecast, by component
7.3.10.3.Market size and forecast, by end use

7.3.11.Rest of Europe

7.3.11.1.Market size and forecast, by type
7.3.11.2.Market size and forecast, by component
7.3.11.3.Market size and forecast, by end use

7.4.Asia-Pacific

7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by type
7.4.3.Market size and forecast, by component
7.4.4.Market size and forecast, by end use
7.4.5.Market size and forecast, by country
7.4.6.China

7.4.6.1.Market size and forecast, by type
7.4.6.2.Market size and forecast, by component
7.4.6.3.Market size and forecast, by end use

7.4.7.Japan

7.4.7.1.Market size and forecast, by type
7.4.7.2.Market size and forecast, by component
7.4.7.3.Market size and forecast, by end use

7.4.8.India

7.4.8.1.Market size and forecast, by type
7.4.8.2.Market size and forecast, by component
7.4.8.3.Market size and forecast, by end use

7.4.9.Australia

7.4.9.1.Market size and forecast, by type
7.4.9.2.Market size and forecast, by component
7.4.9.3.Market size and forecast, by end use

7.4.10.South Korea

7.4.10.1.Market size and forecast, by type
7.4.10.2.Market size and forecast, by component
7.4.10.3.Market size and forecast, by end use

7.4.11.Rest of Asia-Pacific

7.4.11.1.Market size and forecast, by type
7.4.11.2.Market size and forecast, by component
7.4.11.3.Market size and forecast, by end use

7.5.LAMEA

7.5.1.Key market trends, growth factors, and opportunities
7.5.2.Market size and forecast, by type
7.5.3.Market size and forecast, by component
7.5.4.Market size and forecast, by end use
7.5.5.Market size and forecast, by country
7.5.6.Brazil

7.5.6.1.Market size and forecast, by type
7.5.6.2.Market size and forecast, by component
7.5.6.3.Market size and forecast, by end use

7.5.7.Saudi Arabia

7.5.7.1.Market size and forecast, by type
7.5.7.2.Market size and forecast, by component
7.5.7.3.Market size and forecast, by end use

7.5.8.South Africa

7.5.8.1.Market size and forecast, by type
7.5.8.2.Market size and forecast, by component
7.5.8.3.Market size and forecast, by end use

7.5.9.Rest of LAMEA

7.5.9.1.Market size and forecast, by type
7.5.9.2.Market size and forecast, by component
7.5.9.3.Market size and forecast, by end use

CHAPTER 8:COMPETITIVE LANDSCAPE

8.1.INTRODUCTION

8.1.1.MARKET PLAYER POSITIONING, 2020

8.2.PRODUCT MAPPING OF TOP 10 PLAYERS
8.3.COMPETITIVE DASHBOARD
8.4.COMPETITIVE HEATMAP

CHAPTER 9:COMPANY PROFILES:

9.1.American Superconductor Corporation

9.1.1.Company overview
9.1.2.Company snapshot
9.1.3.Operating business segments
9.1.4.Product portfolio
9.1.5.Business performance

9.2.Eaton

9.2.1.Company overview
9.2.2.Company snapshot
9.2.3.Operating business segments
9.2.4.Product portfolio
9.2.5.Business performance

9.3.General Electric

9.3.1.Company overview
9.3.2.Company snapshot
9.3.3.Operating business segments
9.3.4.Product portfolio
9.3.5.Business performance

9.4.Hitachi ABB Power Grids

9.4.1.Company overview
9.4.2.Company snapshot
9.4.3.Product portfolio
9.4.4.Business performance

9.5.Mitsubishi Electric Corporation

9.5.1.Company overview
9.5.2.Company snapshot
9.5.3.Operating business segments
9.5.4.Product portfolio
9.5.5.Business performance

9.6.Nidec Industrial Solutions

9.6.1.Company overview
9.6.2.Company snapshot
9.6.3.Product portfolio

9.7.NISSIN ELECTRIC Co., Ltd.

9.7.1.Company overview
9.7.2.Company snapshot
9.7.3.Operating business segments
9.7.4.Product portfolio
9.7.5.Business performance

9.8.NR Electric Co., Ltd.

9.8.1.Company overview
9.8.2.Company snapshot
9.8.3.Product portfolio

9.9.Rongxin Power Ltd.

9.9.1.Company overview
9.9.2.Company snapshot
9.9.3.Product portfolio

9.10.Siemens AG

9.10.1.Company overview
9.10.2.Company snapshot
9.10.3.Operating business segments
9.10.4.Product Portfolio
9.10.5.Business performance

LIST OF TABLES

TABLE 01.GLOBAL STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020-2030 ($MILLION)
TABLE 02.STATIC VAR COMPENSATOR MARKET FOR THYRISTOR-BASED, BY REGION, 2020–2030 ($MILLION)
TABLE 03.STATIC VAR COMPENSATOR MARKET FOR TCR-FC, BY REGION, 2020–2030 ($MILLION)
TABLE 04.STATIC VAR COMPENSATOR MARKET FOR TCR-TSC, BY REGION, 2020–2030 ($MILLION)
TABLE 05.STATIC VAR COMPENSATOR MARKET FOR MCR-BASED, BY REGION, 2020–2030 ($MILLION)
TABLE 06.STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020-2030 ($MILLION)
TABLE 07.STATIC VAR COMPENSATOR MARKET FOR POWER ELECTRONIC DEVICE, BY REGION, 2020–2030 ($MILLION)
TABLE 08.STATIC VAR COMPENSATOR MARKET FOR POWER ELECTRONIC DEVICE, BY REGION, 2020–2030 (TON)
TABLE 09.STATIC VAR COMPENSATOR MARKET FOR HARMONIC FILTER, BY REGION, 2020–2030 ($MILLION)
TABLE 10.STATIC VAR COMPENSATOR MARKET FOR THYRISTOR, BY REGION, 2020–2030 ($MILLION)
TABLE 11.STATIC VAR COMPENSATOR MARKET FOR REACTOR, BY REGION, 2020–2030 ($MILLION)
TABLE 12.STATIC VAR COMPENSATOR MARKET FOR CAPACITOR BANK, BY REGION, 2020–2030 ($MILLION)
TABLE 13.STATIC VAR COMPENSATOR MARKET FOR GIS SWITCHGEAR, BY REGION, 2020–2030 ($MILLION)
TABLE 14.STATIC VAR COMPENSATOR MARKET FOR CONTROL PROTECTION SYSTEM, BY REGION, 2020–2030 ($MILLION)
TABLE 15.STATIC VAR COMPENSATOR MARKET FOR OTHERS (PHASE SHIFTING TRANSFORMER (PST), SURGE ARRESTER), BY REGION, 2020–2030 ($MILLION)
TABLE 16.GLOBAL STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020-2030 ($MILLION)
TABLE 17.STATIC VAR COMPENSATOR MARKET FOR ELECTRIC UTILITY, BY REGION, 2020–2030 ($MILLION)
TABLE 18.STATIC VAR COMPENSATOR MARKET FOR RAILWAYS, BY REGION, 2020–2030 ($MILLION)
TABLE 19.STATIC VAR COMPENSATOR MARKET FOR INDUSTRIAL, BY REGION, 2020–2030 ($MILLION)
TABLE 20.STATIC VAR COMPENSATOR MARKET FOR STEEL AND METAL, BY REGION, 2020–2030 ($MILLION)
TABLE 21.STATIC VAR COMPENSATOR MARKET FOR MINING, BY REGION, 2020–2030 ($MILLION)
TABLE 22.STATIC VAR COMPENSATOR MARKET FOR HEAVY INDUSTRIAL, BY REGION, 2020–2030 ($MILLION)
TABLE 23.STATIC VAR COMPENSATOR MARKET FOR OIL AND GAS, BY REGION, 2020–2030 ($MILLION)
TABLE 24.STATIC VAR COMPENSATOR MARKET, BY REGION, 2020–2030 ($MILLION)
TABLE 25.STATIC VAR COMPENSATOR MARKET, BY REGION, 2020–2030 (TON)
TABLE 26.NORTH AMERICA STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 27.NORTH AMERICA STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 28.NORTH AMERICA STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 29.NORTH AMERICA STATIC VAR COMPENSATOR MARKET, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 30.U.S. STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 31.U.S. STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 32.U.S. STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 33.CANADA STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 34.CANADA STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 35.CANADA STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 36.MEXICO STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 37.MEXICO STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 38.MEXICO STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 39.EUROPE STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 40.EUROPE STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 41.EUROPE STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 42.EUROPE STATIC VAR COMPENSATOR MARKET, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 43.GERMANY STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 44.GERMANY STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 45.GERMANY STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 46.U.K. STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 47.U.K. STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 48.U.K. STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 49.FRANCE STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 50.FRANCE STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 51.FRANCE STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 52.ITALY STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 53.ITALY STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 54.ITALY STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 55.SPAIN STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 56.SPAIN STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 57.SPAIN STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 58.REST OF EUROPE OPTICALLY 3.4 CLEAR ADHESIVES MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 59.REST OF EUROPE STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 60.REST OF EUROPE STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 61.ASIA-PACIFIC STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 62.ASIA-PACIFIC STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 63.ASIA-PACIFIC STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 64.ASIA-PACIFIC STATIC VAR COMPENSATOR MARKET, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 65.CHINA STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 66.CHINA STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 67.CHINA STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 68.JAPAN STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 69.JAPAN STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 70.JAPAN STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 71.INDIA STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 72.INDIA STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 73.INDIA STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 74.AUSTRALIA STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 75.AUSTRALIA STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 76.AUSTRALIA STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 77.SOUTH KOREA STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 78.SOUTH KOREA STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 79.SOUTH KOREA STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 80.REST OF ASIA-PACIFIC STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 81.REST OF ASIA-PACIFIC STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 82.REST OF ASIA-PACIFIC STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 83.LAMEA STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 84.LAMEA STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 85.LAMEA STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 86.LAMEA STATIC VAR COMPENSATOR MARKET, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 87.BRAZIL STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 88.BRAZIL STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 89.BRAZIL STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 90.SAUDI ARABIA STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 91.SAUDI ARABIA STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 92.SAUDI ARABIA STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 93.SOUTH AFRICA STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 94.SOUTH AFRICA STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 95.SOUTH AFRICA STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 96.REST OF LAMEA STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
TABLE 97.REST OF LAMEA STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
TABLE 98.REST OF LAMEA STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
TABLE 99.AMERICAN SUPERCONDUCTOR: COMPANY SNAPSHOT
TABLE 100.AMERICAN SUPERCONDUCTOR: OPERATING SEGMENTS
TABLE 101.AMERICAN SUPERCONDUCTOR: PRODUCT PORTFOLIO
TABLE 102.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 103.EATON: COMPANY SNAPSHOT
TABLE 104.EATON: OPERATING SEGMENTS
TABLE 105.EATON: PRODUCT PORTFOLIO
TABLE 106.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 107.GENERAL ELECTRIC: COMPANY SNAPSHOT
TABLE 108.GENERAL ELECTRIC: OPERATING SEGMENTS
TABLE 109.GENERAL ELECTRIC: PRODUCT PORTFOLIO
TABLE 110.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 111.HITACHI ABB POWER GRIDS: COMPANY SNAPSHOT
TABLE 112.HITACHI ABB POWER GRIDS: PRODUCT PORTFOLIO
TABLE 113.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 114.MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT
TABLE 115.MITSUBISHIE ELECTRIC CORPORATION: OPERATING SEGMENT
TABLE 116.MITSUBISHI ELECTRIC CORPORATION: PRODUCT PORTFOLIO
TABLE 117.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 118.NIDEC INDUSTRIAL SOLUTIONS: COMPANY SNAPSHOT
TABLE 119.NIDEC INDUSTRIAL SOLUTIONS: PRODUCT PORTFOLIO
TABLE 120.NISSIN ELECTRIC CO., LTD.: COMPANY SNAPSHOT
TABLE 121.NISSIN ELECTRIC CO., LTD.: OPERATING SEGMENTS
TABLE 122.NISSIN ELECTRIC CO., LTD.: PRODUCT PORTFOLIO
TABLE 123.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 124.NR ELECTRIC CO., LTD.: COMPANY SNAPSHOT
TABLE 125.NR ELECTRIC CO., LTD.: PRODUCT PORTFOLIO
TABLE 126.RONGXIN POWER LTD.: COMPANY SNAPSHOT
TABLE 127.RONGXIN POWER LTD.: PRODUCT PORTFOLIO
TABLE 128.SIEMENS AG: COMPANY SNAPSHOT
TABLE 129.SIEMENS AG: OPERATING SEGMENT
TABLE 130.SIEMENS AG: PRODUCT PORTFOLIO
TABLE 131.OVERALL FINANCIAL STATUS ($MILLION)

LIST OF FIGURES

FIGURE 01.GLOBAL STATIC VAR COMPENSATOR MARKET SNAPSHOT
FIGURE 02.GLOBAL STATIC VAR COMPENSATOR MARKET SEGMENTATION
FIGURE 03.TOP INVESTMENT POCKETS
FIGURE 04.MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 05.MODERATE BARGAINING POWER OF BUYERS
FIGURE 06.MODERATE THREAT OF NEW ENTRANTS
FIGURE 07.MODERATE THREAT OF SUBSTITUTES
FIGURE 08.MODERATE COMPETITIVE RIVALRY
FIGURE 09.GLOBAL STATIC VAR COMPENSATOR FILMS MARKET DYNAMICS
FIGURE 10.VALUE CHAIN ANALYSIS
FIGURE 11.PATENT ANALYSIS, BY COUNTRY, 2021
FIGURE 12.PATENT ANALYSIS, BY APPLICANT, 2021
FIGURE 13.PATENT ANALYSIS, BY PUBLICATION DATE, 2012-2021
FIGURE 14.GLOBAL STATIC VAR COMPENSATOR MARKET, BY TYPE, 2020–2030 ($MILLION)
FIGURE 15.COMPARATIVE SHARE ANALYSIS OF THYRISTOR-BASED STATIC VAR COMPENSATOR MARKET, BY COUNTRY, 2020 & 2030 (%)
FIGURE 16.COMPARATIVE SHARE ANALYSIS OF TCR-FC STATIC VAR COMPENSATOR MARKET, BY COUNTRY, 2020 & 2030 (%)
FIGURE 17.COMPARATIVE SHARE ANALYSIS OF TCR-TSC STATIC VAR COMPENSATOR MARKET, BY COUNTRY, 2020 & 2030 (%)
FIGURE 18.COMPARATIVE SHARE ANALYSIS OF MCR-BASED STATIC VAR COMPENSATOR MARKET, BY COUNTRY, 2020 & 2030 (%)
FIGURE 19.GLOBAL STATIC VAR COMPENSATOR MARKET, BY COMPONENT, 2020–2030 ($MILLION)
FIGURE 20.COMPARATIVE SHARE ANALYSIS OF STATIC VAR COMPENSATOR MARKET FOR POWER ELECTRONIC DEVICE, BY COUNTRY, 2020 & 2030 (%)
FIGURE 21.COMPARATIVE SHARE ANALYSIS OF STATIC VAR COMPENSATOR MARKET FOR HARMONIC FILTER, BY COUNTRY, 2020 & 2030 (%)
FIGURE 22.COMPARATIVE SHARE ANALYSIS OF STATIC VAR COMPENSATOR MARKET FOR THYRISTOR, BY COUNTRY, 2020 & 2030 (%)
FIGURE 23.COMPARATIVE SHARE ANALYSIS OF STATIC VAR COMPENSATOR MARKET FOR REACTOR, BY COUNTRY, 2020 & 2030 (%)
FIGURE 24.COMPARATIVE SHARE ANALYSIS OF STATIC VAR COMPENSATOR MARKET FOR CAPACITOR BANK, BY COUNTRY, 2020 & 2030 (%)
FIGURE 25.COMPARATIVE SHARE ANALYSIS OF STATIC VAR COMPENSATOR MARKET FOR GIS SWITCHGEAR, BY COUNTRY, 2020 & 2030 (%)
FIGURE 26.COMPARATIVE SHARE ANALYSIS OF STATIC VAR COMPENSATOR MARKET FOR CONTROL PROTECTION SYSTEM, BY COUNTRY, 2020 & 2030 (%)
FIGURE 27.COMPARATIVE SHARE ANALYSIS OF STATIC VAR COMPENSATOR MARKET FOR OTHERS (PHASE SHIFTING TRANSFORMER (PST), SURGE ARRESTER), BY COUNTRY, 2020 & 2030 (%)102
FIGURE 28.GLOBAL STATIC VAR COMPENSATOR MARKET, BY END USE, 2020–2030 ($MILLION)
FIGURE 29.COMPARATIVE SHARE ANALYSIS OF STATIC VAR COMPENSATOR MARKET FOR ELECTRIC UTILITY, BY COUNTRY, 2020& 2030 (%)
FIGURE 30.COMPARATIVE SHARE ANALYSIS OF STATIC VAR COMPENSATOR MARKET FOR RAILWAYS, BY COUNTRY, 2020 & 2030 (%)
FIGURE 31.COMPARATIVE SHARE ANALYSIS OF STATIC VAR COMPENSATOR MARKET FOR INDUSTRIAL, BY COUNTRY, 2020 & 2030 (%)
FIGURE 32.COMPARATIVE SHARE ANALYSIS OF STEEL AND METAL STATIC VAR COMPENSATOR MARKET, BY COUNTRY, 2020 & 2030 (%)
FIGURE 33.COMPARATIVE SHARE ANALYSIS OF MINING STATIC VAR COMPENSATOR MARKET, BY COUNTRY, 2020 & 2030 (%)
FIGURE 34.COMPARATIVE SHARE ANALYSIS OF HEAVY INDUSTRIAL STATIC VAR COMPENSATOR MARKET, BY COUNTRY, 2020 & 2030 (%)
FIGURE 35.COMPARATIVE SHARE ANALYSIS OF STATIC VAR COMPENSATOR MARKET FOR OIL AND GAS, BY COUNTRY, 2020& 2030 (%)
FIGURE 36.GLOBAL STATIC VAR COMPENSATOR MARKET, BY REGION, 2020–2030 ($MILLION)
FIGURE 37.U.S. STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 38.CANADA STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 39.MEXICO STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 40.GERMANY STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 41.UK STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 42.FRANCE STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 43.ITALY STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 44.SPAIN STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 45.REST OF EUROPE STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 46.CHINA STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 47.JAPAN STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 48.INDIA STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 49.AUSTRALIA STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 50.SOUTH KOREA STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 51.REST OF ASIA-PACIFIC STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 52.BRAZIL STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 53.SAUDI ARABIA STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 54.SOUTH AFRICA STATIC VAR COMPENSATOR MARKET REVENUE, 2020–2030($MILLION)
FIGURE 55.REST OF LAMEA MARKET REVENUE, 2020–2030($MILLION)
FIGURE 56.MARKET PLAYER POSITIONING, 2020
FIGURE 57.PRODUCT MAPPING OF TOP 10 PLAYERS
FIGURE 58.COMPETITIVE DASHBOARD
FIGURE 59.COMPETITIVE HEATMAP OF KEY PLAYERS
FIGURE 60.AMERICAN SUPERCONDUCTOR: REVENUE, 2019-2021 ($MILLION)
FIGURE 61.AMERICAN SUPERCONDUCTOR: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 62.AMERICAN SUPERCONDUCTOR: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 63.EATON: NET SALES, 2018–2020 ($MILLION)
FIGURE 64.EATON: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 65.EATON: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 66.GENERAL ELECTRIC: REVENUE, 2018-2020 ($MILLION)
FIGURE 67.GENERAL ELECTRIC: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 68.GENERAL ELECTRIC: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 69.HITACHI ABB POWER GRIDS: NET SALES, 2019–2020 ($MILLION)
FIGURE 70.HITACHI ABB POWER GRIDS: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 71.MITSUBISHI ELECTRIC CORPORATION: NET SALES, 2019–2021 ($MILLION)
FIGURE 72.MITSUBISHI ELECTRIC CORPORATION: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 73.MITSUBISHI ELECTRIC CORPORATION: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 74.NISSIN ELECTRIC CO., LTD.: NET SALES, 2018–2020 ($MILLION)
FIGURE 75.NISSIN ELECTRIC CO., LTD.: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 76.SIEMENS AG: NET SALES, 2018–2020 ($MILLION)
FIGURE 77.SIEMENS AG: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 78.SIEMENS AG: REVENUE SHARE BY REGION, 2020 (%)

 
 

The global static VAR compensator market is expected to exhibit high growth potential, owing to the product use in applications such electric utility, railways, industrial, and oil & gas. Increasing utilization of three-phase electric power systems in large-scale industries, such as steel production, mining, and others, where thyristor-based static VAR compensators are widely employed for controlling the voltage across the inductor may propel the market growth. Furthermore, the thyristor-based static VAR compensator enhances the system stability and power over an unlimited range without any time delay. This feature has attracted the sales of thyristor-based static VAR compensators among various end-use sectors, which is the major key market trend in the global market.

Increasing power grid networks among developing economies, such as China, India, and others, where static VAR compensators with power electronics are used to control voltage in power grids may act as one of the key drivers responsible for the market growth. In addition, rapid technological advancements in power electronics have made several flexible AC transmission system (FACTS) devices, such as static VAR compensator, thyristor-controlled series capacitor, and others, suitable for use as power controllers in large power systems, thereby fueling the market growth, which is predicted to offer lucrative growth opportunities in future.

The advanced digital control algorithm for the SVC system developed by General Electronics represents the latest design methodology by using a powerful model-based design approach. It is built by using a core library of complex control algorithms with automated code generation for all testing and verification stages. It also consists of a built-in event logger with automated time stamping of 1-millisecond resolution and can be remotely accessed via the internet using a secured protocol. This model-based advanced digital control algorithm for the SVC system has already revolutionized the approach for critical control software in power grids, aviation, renewable energy, and other sectors. Thus, the use of advanced digital control SVC systems with automated control features is anticipated to open up new sales opportunities in the market. This factor is anticipated to offer new opportunities in the global market.

 

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FREQUENTLY ASKED QUESTIONS?
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A. North America region will provide more business opportunities for static var compensator in future.

A. Electric utility and railway are potential customers of static var compensator industry.

A. To get latest version of Static VAR Compensator market report can be obtained on demand from the website.

A. Thyristor based segment holds the maximum share of the static var compensator Market.

A. Product launch and acquisition are the key growth strategies of static var compensator market players.

A. The top ten market players are selected based on two key attributes - competitive strength and market positioning

A. American Superconductor Corporation, Eaton, General Electric, Hitachi ABB Power Grids, Mitsubishi Electric Corporation, Nidec Industrial Solutions, NISSIN ELECTRIC Co., Ltd., NR Electric Co., Ltd., Rongxin Power Ltd., and Siemens AG are the leading global players in the static var compensator Market

A. Escalating demand among industrial & power infrastructure sector and increasing demand for renewable energy sources are the driving factors in the static var compensator market. Advanced digital control algorithm is opportunity in the static var compensator market.

A. It outlines the current static VAR compensator market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets are the key benefits of the Static VAR Compensators Market report

A. The advanced digital control algorithm for the SVC system developed by General Electronics represents the latest design methodology by using a powerful model-based design approach. It is built by using a core library of complex control algorithms with automated code generation for all testing and verification stages. It also consists of a built-in event logger with automated time stamping of 1-millisecond resolution and can be remotely accessed via the internet using a secured protocol. This model-based advanced digital control algorithm for the SVC system has already revolutionized the approach for critical control software in power grids, aviation, renewable energy, and other sectors. These trends will influence the Static VAR Compensators Market in the next few years.

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