PUBLISHER: Grand View Research | PRODUCT CODE: 1888901
PUBLISHER: Grand View Research | PRODUCT CODE: 1888901
STATCOM Market Size, Share & Trends Analysis Report By Rated Power, By End-use (Utility, Steel Manufacturing, Mining, Renewable Energy, Hydrogen Power Plant), By Region, And Segment Forecasts, 2025 - 2033
STATCOM Market Summary
The global STATCOM market size was estimated at USD 0.69 billion in 2024, and is projected to reach USD 1.21 billion by 2033, growing at a CAGR of 6.8% from 2025 to 2033. The global Static Synchronous Compensator (STATCOM) market is being significantly driven by the rapid integration of renewable energy sources into power grids.
As wind and solar power become increasingly dominant in the global energy mix, utilities face heightened challenges around voltage fluctuations, grid instability, and reactive power imbalance. STATCOMs play a critical role in mitigating these challenges by providing fast, dynamic reactive power support, ensuring grid code compliance such as Low Voltage Ride Through (LVRT), and maintaining power quality. Countries such as India, China, and Germany are leading in STATCOM adoption in solar and wind projects, reflecting a broader global shift toward grid-connected renewable energy stabilization.
Another major trend is the ongoing modernization of aging transmission and distribution infrastructure. Utilities across North America, Europe, and parts of Asia Pacific are investing in grid resiliency and smart grid technologies to cope with growing demand, distributed generation, and changing load profiles. STATCOMs are increasingly deployed at substations and critical grid nodes to ensure voltage stability, minimize transmission losses, and enhance the overall reliability of the grid. These devices are especially valuable in weak grids or remote areas where voltage regulation is critical but challenging through traditional mechanical systems.
The market is also witnessing growth due to expansion in industrial applications, particularly in sectors such as steel manufacturing, mining, and cement. Heavy industrial processes are known for causing significant voltage dips and harmonic distortion due to their large, fluctuating power demands. STATCOMs, especially medium-power systems, are being deployed to provide flicker mitigation, power factor correction, and voltage stabilization, resulting in improved operational efficiency and reduced energy costs. As industrial automation and electrification intensify in emerging economies, demand for STATCOM solutions in these sectors is expected to rise steadily.
Another trend fueling STATCOM market expansion is the rise of green hydrogen and energy storage projects. As governments and companies invest in hydrogen electrolyzer plants and hybrid systems (e.g., STATCOM + BESS), there is a growing need for power electronics devices that can stabilize load and supply-side fluctuations. STATCOMs are well-positioned to support the power quality needs of electrolyzers and help integrate them into the grid without creating instability. This emerging use case, although currently small in volume, is projected to grow significantly, especially in Europe, Japan, and the Middle East.
The market is also benefitting from technological advancements in STATCOM design, including the adoption of modular multilevel converters (MMC) and compact containerized systems. These innovations are making STATCOMs more flexible, scalable, and suitable for deployment in space-constrained or mobile environments such as offshore wind platforms or mining sites. The integration of digital monitoring and predictive maintenance tools is also enhancing system performance and uptime.
Global STATCOM Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global STATCOM market report based on rated power, end use and region:
- Rated Power Outlook (Revenue, USD Billion, 2021 - 2033)
- Low Power STATCOM (Less than 20 MVAR)
- Medium Power STATCOM (20-100 MVAR)
- High Power STATCOM (Greater than 100 MVAR)
- End Use Outlook (Revenue, USD Billion, 2021 - 2033)
- Utility
- Steel Manufacturing
- Mining
- Renewable Energy
- Hydrogen Power Plant
- Others
- Regional Outlook (Revenue, USD Billion, 2021 - 2033)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Latin America
- Brazil
- Middle East and Africa (MEA)
- KSA
- UAE
- South Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Research Methodology
- 1.2.1. Information Procurement
- 1.3. Information or Data Analysis
- 1.4. Methodology
- 1.5. Research Scope and Assumptions
- 1.6. Market Formulation & Validation
- 1.7. Country Based Segment Share Calculation
- 1.8. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. STATCOM Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Industry Challenge
- 3.3. STATCOM Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic landscape
- 3.3.2.3. Social landscape
- 3.3.2.4. Technological landscape
- 3.3.2.5. Environmental landscape
- 3.3.2.6. Legal landscape
- 3.3.1. Industry Analysis - Porter's
Chapter 4. STATCOM Market : Rated Power Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. STATCOM Market: Rated Power Movement Analysis, USD Million, 2024 & 2033
- 4.3. Low Power STATCOM (Less than 20 MVAR)
- 4.3.1. Low Power STATCOM Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 4.4. Medium Power STATCOM (20-100 MVAR)
- 4.4.1. Medium Power STATCOM Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 4.5. High Power STATCOM (Greater than 100 MVAR)
- 4.5.1. High Power STATCOM Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 5. STATCOM Market : End Use Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. STATCOM Market: End Use Movement Analysis, USD Million, 2024 & 2033
- 5.3. Utility
- 5.3.1. Manufacturing Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.4. Steel Manufacturing
- 5.4.1. Steel Manufacturing Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.5. Mining
- 5.5.1. Mining Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.6. Renewable Energy
- 5.6.1. Renewable Energy Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.7. Hydrogen Power Plant
- 5.7.1. Hydrogen Power Plant Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.8. Others
- 5.8.1. Others Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 6. STATCOM Market : Regional Estimates & Trend Analysis
- 6.1. STATCOM Market Share, By Region, 2024 & 2033, USD Million
- 6.2. North America
- 6.2.1. North America STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.2.2. U.S.
- 6.2.2.1. U.S. STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.2.3. Canada
- 6.2.3.1. Canada STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.2.4. Mexico
- 6.2.4.1. Mexico STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3. Europe
- 6.3.1. Europe STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3.2. UK
- 6.3.2.1. UK STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3.3. Germany
- 6.3.3.1. Germany STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3.4. France
- 6.3.4.1. France STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Asia Pacific STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4.2. China
- 6.4.2.1. China STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4.3. Japan
- 6.4.3.1. Japan STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4.4. India
- 6.4.4.1. India STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4.5. South Korea
- 6.4.5.1. South Korea STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4.6. Australia
- 6.4.6.1. Australia STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.5. Latin America
- 6.5.1. Latin America STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.5.2. Brazil
- 6.5.2.1. Brazil STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.6. Middle East and Africa
- 6.6.1. Middle East and Africa STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.6.2. UAE
- 6.6.2.1. UAE STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.6.3. KSA
- 6.6.3.1. KSA STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.6.4. South Africa
- 6.6.4.1. South Africa STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Company Categorization
- 7.2. Company Market Positioning
- 7.3. Company Heat Map Analysis
- 7.4. Company Profiles/Listing
- 7.4.1. GE Grid Solutions, LLC
- 7.4.1.1. Participant's Overview
- 7.4.1.2. Financial Performance
- 7.4.1.3. Product Benchmarking
- 7.4.1.4. Strategic Initiatives
- 7.4.2. Ingeteam
- 7.4.2.1. Participant's Overview
- 7.4.2.2. Financial Performance
- 7.4.2.3. Product Benchmarking
- 7.4.2.4. Strategic Initiatives
- 7.4.3. ABB
- 7.4.3.1. Participant's Overview
- 7.4.3.2. Financial Performance
- 7.4.3.3. Product Benchmarking
- 7.4.3.4. Strategic Initiatives
- 7.4.4. Siemens
- 7.4.4.1. Participant's Overview
- 7.4.4.2. Financial Performance
- 7.4.4.3. Product Benchmarking
- 7.4.4.4. Strategic Initiatives
- 7.4.5. Nidec Conversion
- 7.4.5.1. Participant's Overview
- 7.4.5.2. Financial Performance
- 7.4.5.3. Product Benchmarking
- 7.4.5.4. Strategic Initiatives
- 7.4.6. Hitachi Energy Ltd
- 7.4.6.1. Participant's Overview
- 7.4.6.2. Financial Performance
- 7.4.6.3. Product Benchmarking
- 7.4.6.4. Strategic Initiatives
- 7.4.7. Mitsubishi Electric Corporation
- 7.4.7.1. Participant's Overview
- 7.4.7.2. Financial Performance
- 7.4.7.3. Product Benchmarking
- 7.4.7.4. Strategic Initiatives
- 7.4.8. JEMA Energy
- 7.4.8.1. Participant's Overview
- 7.4.8.2. Financial Performance
- 7.4.8.3. Product Benchmarking
- 7.4.8.4. Strategic Initiatives
- 7.4.9. American Superconductor
- 7.4.9.1. Participant's Overview
- 7.4.9.2. Financial Performance
- 7.4.9.3. Product Benchmarking
- 7.4.9.4. Strategic Initiatives
- 7.4.10. HYOSUNG HEAVY INDUSTRIES
- 7.4.10.1. Participant's Overview
- 7.4.10.2. Financial Performance
- 7.4.10.3. Product Benchmarking
- 7.4.10.4. Strategic Initiatives
- 7.4.1. GE Grid Solutions, LLC
List of Tables
- Table 1 Global STATCOM Market size estimates & forecasts 2021 - 2033 (USD Million)
- Table 2 Global STATCOM Market, by region 2021 - 2033 (USD Million)
- Table 3 Global STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 4 Global STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 5 Low Power STATCOM market, by region 2021 - 2033 (USD Million)
- Table 6 Medium Power STATCOM market, by region 2021 - 2033 (USD Million)
- Table 7 High Power STATCOM market, by region 2021 - 2033 (USD Million)
- Table 8 Utility market, by region 2021 - 2033 (USD Million)
- Table 9 Steel Manufacturing market, by region 2021 - 2033 (USD Million)
- Table 10 Mining market, by region 2021 - 2033 (USD Million)
- Table 11 Renewable Energy market, by region 2021 - 2033 (USD Million)
- Table 12 Hydrogen Power Plant market, by region 2021 - 2033 (USD Million)
- Table 13 Others market, by region 2021 - 2033 (USD Million)
- Table 14 North America STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 15 North America STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 16 U.S. STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 17 U.S. STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 18 Canada STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 19 Canada STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 20 Mexico STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 21 Mexico STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 22 Europe STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 23 Europe STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 24 UK STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 25 UK STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 26 Germany STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 27 Germany STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 28 France STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 29 France STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 30 Asia Pacific STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 31 Asia Pacific STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 32 China STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 33 China STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 34 India STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 35 India STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 36 Japan STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 37 Japan STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 38 Australia STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 39 Australia STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 40 South Korea STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 41 South Korea STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 42 Latin America STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 43 Latin America STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 44 Brazil STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 45 Brazil STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 46 MEA STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 47 MEA STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 48 UAE STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 49 UAE STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 50 KSA STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 51 KSA STATCOM Market, by End Use 2021 - 2033 (USD Million)
- Table 52 South Africa STATCOM Market, by Rated Power 2021 - 2033 (USD Million)
- Table 53 South Africa STATCOM Market, by End Use 2021 - 2033 (USD Million)
List of Figures
- Fig. 1 STATCOM Market segmentation
- Fig. 2 Market research Deployment
- Fig. 3 Information procurement
- Fig. 4 Primary research pattern
- Fig. 5 Market research approaches
- Fig. 6 Value chain-based sizing & forecasting
- Fig. 7 Parent market analysis
- Fig. 8 Market formulation & validation
- Fig. 9 STATCOM Market snapshot
- Fig. 10 STATCOM Market segment snapshot
- Fig. 11 STATCOM Market competitive landscape snapshot
- Fig. 12 Market research Deployment
- Fig. 13 Market driver relevance analysis (Current & future impact)
- Fig. 14 Market restraint relevance analysis (Current & future impact)
- Fig. 15 STATCOM Market : Rated Power outlook key takeaways (USD million)
- Fig. 16 STATCOM Market : Rated Power movement analysis (USD million), 2024 & 2033
- Fig. 17 Low Power STATCOM market revenue estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 18 Medium Power STATCOM market revenue estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 19 High Power STATCOM market revenue estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 1 STATCOM Market : End Use outlook key takeaways (USD million)
- Fig. 2 STATCOM Market : End Use movement analysis (USD million), 2024 & 2033
- Fig. 3 Utility market revenue estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 4 Steel Manufacturing market revenue estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 5 Mining market revenue estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 6 Renewable Energy market revenue estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 7 Hydrogen Power Plant market revenue estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 8 Others market revenue estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 9 Regional marketplace: Key takeaways
- Fig. 10 STATCOM Market: Regional outlook, 2024 & 2033 USD Million
- Fig. 11 North America STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 12 U.S. STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 13 Canada STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 14 Mexico STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 15 Europe STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 16 UK STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 17 Germany STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 18 France STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 19 Asia Pacific STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 20 Japan STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 21 China STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 22 India STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 23 Australia STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 24 South Korea STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 25 Latin America STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 26 Brazil STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 27 MEA STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 28 KSA STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 29 UAE STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 30 South Africa STATCOM Market estimates and forecasts, 2021 - 2033 (USD million)
- Fig. 31 Strategy framework
- Fig. 32 Company Categorization
