PUBLISHER: Lucintel | PRODUCT CODE: 1356656
PUBLISHER: Lucintel | PRODUCT CODE: 1356656
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.
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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]:
Static Synchronous Compensator Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:
Static Synchronous Compensator Market by Region [Shipment Analysis by Value from 2018 to 2030]:
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-
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 region.s 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.
Q.4. 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.
Q.5. Who are the key static synchronous compensator market companies?
Answer: Some of the key static synchronous compensator companies are as follows:
Q.6. 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.
Q.7. 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.