Quick Summary:
As we witness the global Static VAR Compensators (SVC) market experience a steady rise, a comprehensive understanding of trends, shifts and opportunities is of paramount importance. Our latest market research report examines these aspects with meticulous detail, providing you with the necessary insights, helping you remain a step ahead in this ever-evolving market landscape. With estimations that the SVC market is anticipated to burgeon to a tune of US$1.1 Billion by 2030 in tandem with some regions like China forecasted to join at a 3.5% CAGR, strategic decisions need to be based on robust and accurate data.
To this end, our market report fathoms beyond aggregated conclusions, offering granular insights into the SVC market, including Thyristor-Based and MCR-Based segment analysis. Additionally, the U.S, China, Japan, Canada and Germany's distinct market forecasts further mark our report as a crucial resource for any business intending to succeed and solidify their presence in the SVC industry. Our expansive scope doesn’t just detail current and future landscape estimations, it tactically layers the information along with select competitor profiles, insights that are essential to formulating a competitive market strategy. Whether you are looking to extend your geographic reach, pondering on product expansion or wishing to gain insights on the latest trends shaping the SVC industry, this report should be your first port of call.
Global Static VAR Compensators (SVC) Market to Reach $1.1 Billion by 2030
The global market for Static VAR Compensators (SVC) estimated at US$796 Million in the year 2022, is projected to reach a revised size of US$1.1 Billion by 2030, growing at a CAGR of 3.8% over the analysis period 2022-2030. Thyristor-Based, one of the segments analyzed in the report, is projected to record 4.6% CAGR and reach US$751.9 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the MCR-Based segment is readjusted to a revised 2.3% CAGR for the next 8-year period.
The U.S. Market is Estimated at $234.8 Million, While China is Forecast to Grow at 3.5% CAGR
The Static VAR Compensators (SVC) market in the U.S. is estimated at US$234.8 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$188 Million by the year 2030 trailing a CAGR of 3.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.Select Competitors (Total 47 Featured) -
- ABB Ltd.
- American Electric Power Co., Inc.
- American Superconductor Corporation
- Eaton Corporation PLC
- General Electric Company
- Hyosung Corporation
- Mitsubishi Electric Corporation
- NR Electric Co., Ltd.
- Rongxin Power Electronic Co., Ltd.
- Siemens AG
What's New?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
What is the estimated value of the Global Market for Static VAR Compensators (SVC)?
What is the growth rate of the Global Market for Static VAR Compensators (SVC)?
What is the forecasted size of the Global Market for Static VAR Compensators (SVC)?
Who are the key companies in the Global Market for Static VAR Compensators (SVC)?
| Report Attribute | Details |
|---|---|
| No. of Pages | 226 |
| Published | December 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 796 Million |
| Forecasted Market Value ( USD | $ 1100 Million |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
Table of Contents
Companies Mentioned
A selection of companies mentioned in this report includes:
- ABB Ltd.
- American Electric Power Co., Inc.
- American Superconductor Corporation
- Eaton Corporation PLC
- General Electric Company
- Hyosung Corporation
- Mitsubishi Electric Corporation
- NR Electric Co., Ltd.
- Rongxin Power Electronic Co., Ltd.
- Siemens AG
