A static VAR compensator
will typically regulate and control the voltage to the required set point under normal steady state and contingency conditions and thereby providing fast-acting reactive power on high-voltage electricity transmission networks. Globally demand for static VAR compensator is being driven by growing demand for renewable sources of energy and increasing adoption of static VAR compensator in railways as high voltage boosters. In addition, the need for upgradation and replacement of aging power infrastructure in developed regions will create greater opportunities for the static VAR compensator market. However, lack of awareness of MCR-Based static VAR compensators and higher political intervention in power industry are key challenges faced by static VAR compensator market.
This report identifies the global static VAR compensator market
size in for the year 2014-2016, and forecast of the same for year 2021. It also highlights the potential growth opportunities in the coming years, while also reviewing the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape, and other key aspects with respect to static VAR compensator market.
Geographically, Asia Pacific dominated the global static VAR compensator market, and is projected to have the highest growth rates during the forecast period, owing to development of industrial sector and power infrastructure in this region. MCR based static VAR compensator is expected to grow at the highest rate in the static VAR compensator market, among all types of static VAR compensator, owing to its advantages such as high reliability, ability to sustain instantaneous voltage to avoid generator breaking, increased capability to transfer power, low harmonics, small dimension, and faster response time. Among all the end-user the market for renewable energy is estimated to have highest growth, owing to larger investments being made by investors in the renewable sector in countries in the Asia-Pacific.This report segments global static VAR compensator market on the basis of type, components, end-user industry, and regional market as follows:
This report identifies all the major companies operating in the static VAR compensator market. Some of the major companies’ profiles in detail are as follows:
- Global Static VAR Compensator Market, By Type (2014-2021): Thyristor-Based SVC, and Magnetically Controlled Reactor (MCR)-Based SVC
- The static VAR compensator market is also segmented on the basis of components being used static VAR compensator as follow: Power Electronics Devices, Harmonic Filter, Thyristor, Reactor, Capacitor Bank, Gis Switchgear, Phase-Shifting Transformer (PST), Surge Arrester, and Control Protection System
- The report is also segmented on the basis of end-use industry in which Static VAR Compensator are being used as follow: Electric Utility, Renewable, Railway, Industrial, Oil & Gas, and Others
- This report has been further segmented into major regions, which includes detailed analysis of each region such as: North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) covering all the major country level markets in each of the region
- ABB Ltd.
- General Electric
- Siemens AG
- Mitsubishi Electric Corporation
- Eaton Corporation Plc