Static Synchronous Compensator Trends and Forecast
The future of the global static synchronous compensator market looks promising with opportunities in the utility, railway, steel manufacturing, and renewable energy markets. The global static synchronous compensator market is expected to reach an estimated $1.7 billion by 2030 with a CAGR of 10.2% from 2024 to 2030. The major drivers for this market are growing demand for renewable electricity, rising demand for smart grid infrastructure and smart meter roll outs, and increasing government initiatives to modernize power infrastructure.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Static Synchronous Compensator by Segment
The study includes a forecast for the global static synchronous compensator by type, end use industry, and region
Static Synchronous Compensator Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Low Voltage
• Medium Voltage
• High Voltage
Static Synchronous Compensator Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:
• Utility
• Railway
• Steel Manufacturing
• Renewable Energy
• Others
Static Synchronous Compensator Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Static Synchronous Compensator Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies static synchronous compensator companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the static synchronous compensator companies profiled in this report include-
• Siemens
• Hitachi
• GE Energy
• Mitsubishi
• Sieyuan Electric
• Hyosung Heavy Industries
• Ingeteam
• American Superconductor
• Eaton Corporation
• RXHK
Static Synchronous Compensator Market Insights
Lucintel forecast that medium voltage will remain the highest growing segment over the forecast period due to growing demand for voltage stabilization and supporting requirement for poor power factor in utility transmission and distribution.
Within this market, utility will remain the largest segment over the forecast period due to its rising usage in various applications such as, reactive power optimization of load-center substation and voltage stability.
APAC will remain the largest region over the forecast period due to existence of largest capacity for renewable electricity generation, as well as growing electricity generation and renewable investment across the region.
Features of the Global Static Synchronous Compensator Market
Market Size Estimates: Static synchronous compensator market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Static synchronous compensator market size by various segments, such as by type, end use industry, and region in terms of value ($B).
Regional Analysis: Static synchronous compensator market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different type, end use industry, and regions for the static synchronous compensator market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the static synchronous compensator market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the static synchronous compensator market size?
Answer: The global static synchronous compensator market is expected to reach an estimated $1.7 billion by 2030.
Q.2 What is the growth forecast for static synchronous compensator market?
Answer: The global static synchronous compensator market is expected to grow with a CAGR of 10.2% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the static synchronous compensator market?
Answer: The major drivers for this market are growing demand for renewable electricity, rising demand for smart grid infrastructure and smart meter roll outs, and increasing government initiatives to modernize power infrastructure.
Q4. What are the major segments for static synchronous compensator market?
Answer: The future of the static synchronous compensator market looks promising with opportunities in the utility, railway, steel manufacturing, and renewable energy markets.
Q5. Who are the key static synchronous compensator market companies?
Answer: Some of the key static synchronous compensator companies are as follows:
• Siemens
• Hitachi
• GE Energy
• Mitsubishi
• Sieyuan Electric
• Hyosung Heavy Industries
• Ingeteam
• American Superconductor
• Eaton Corporation
• RXHK
Q6. Which static synchronous compensator market segment will be the largest in future?
Answer: Lucintel forecast that medium voltage will remain the highest growing segment over the forecast period due to growing demand for voltage stabilization and supporting requirement for poor power factor in utility transmission and distribution.
Q7. In static synchronous compensator market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period due to existence of largest capacity for renewable electricity generation, as well as growing electricity generation and renewable investment across the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the static synchronous compensator market by type (low voltage, medium voltage, and high voltage), end use industry (utility, railway, steel manufacturing, renewable energy, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Static Synchronous Compensator Market, Static Synchronous Compensator Market Size, Static Synchronous Compensator Market Growth, Static Synchronous Compensator Market Analysis, Static Synchronous Compensator Market Report, Static Synchronous Compensator Market Share, Static Synchronous Compensator Market Trends, Static Synchronous Compensator Market Forecast, Static Synchronous Compensator Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.