The static synchronous compensator (STATCOM) market size has grown strongly in recent years. It will grow from $1.08 billion in 2024 to $1.18 billion in 2025 at a compound annual growth rate (CAGR) of 9.3%. The growth during the historic period can be credited to the increasing need for voltage regulation, rising investments in smart grid technologies, greater adoption of power electronics, the expansion of government initiatives aimed at grid modernization, and the effects of urbanization and industrial development.
The static synchronous compensator (STATCOM) market size is expected to see strong growth in the next few years. It will grow to $1.66 billion in 2029 at a compound annual growth rate (CAGR) of 8.9%. The growth projected for the forecast period is driven by the increasing demand for voltage stability, rising investments in energy storage integration, a stronger focus on reducing transmission losses, the growing necessity for real-time grid monitoring and control, and continued investments in smart grid technologies. Key trends in the forecast period include the development of modular STATCOM designs, enhanced integration of advanced power electronics, innovations in real-time grid monitoring, incorporation with energy storage systems, and improvements in cooling technologies.
The increasing demand for renewable energy is expected to drive the growth of the static synchronous compensator (STATCOM) market in the future. Renewable energy comes from natural sources or processes that are continuously replenished and cannot be exhausted. This demand is largely fueled by growing concerns about climate change, prompting governments, businesses, and consumers to adopt cleaner energy alternatives to lower greenhouse gas emissions and combat global warming. STATCOM supports renewable energy integration by delivering fast and dynamic voltage regulation, which improves grid stability and power quality despite the fluctuating nature of renewable sources. For example, in December 2024, Eurostat, a Luxembourg-based government agency, reported that the share of energy from renewable sources in the European Union’s transport sector rose to 10.8% in 2023, up from 9.6% in 2022. Consequently, the rising demand for renewable energy is propelling the growth of the STATCOM market.
Leading companies in the static synchronous compensator (STATCOM) market are developing innovative solutions, such as alternating current transmission systems, to boost grid stability and power quality. Alternating current (AC) transmission systems transfer electricity over long distances using AC, creating a stable grid environment where STATCOMs can regulate voltage and enhance power quality through rapid reactive power compensation. For instance, in August 2024, GE Vernova Inc., a US-based energy equipment manufacturer and service provider, introduced the FACTSFLEX GFMe, an advanced STATCOM system that incorporates supercapacitor-based energy storage to improve grid stability and facilitate renewable energy integration. This solution tackles voltage fluctuations and frequency disturbances caused by the intermittent output of solar and wind power. By offering virtual inertia and grid-forming capabilities, the FACTSFLEX GFMe ensures reliable and efficient grid performance, especially in areas with weaker infrastructure or high levels of renewable energy penetration.
In March 2024, Renewable Energy Systems, a UK-based renewable energy firm, acquired Ingeteam’s renewable service division for an undisclosed sum. This acquisition aims to establish Renewable Energy Systems as the world’s largest independent, technology-neutral renewable energy services provider by broadening its operational reach, enhancing service capabilities across diverse renewable technologies, and accelerating the shift toward a zero-carbon energy future. Ingeteam Power Technology, S.A., based in Spain, manufactures electrical control equipment and supplies static synchronous compensators.
Major players in the static synchronous compensator (statcom) market are Mitsubishi Electric Corporation, Hitachi Energy Ltd., Siemens AG, General Electric Company (GE), ABB Ltd., Toshiba Corporation, Chint Group Corporation, Eaton Corporation plc, Bharat Heavy Electricals Limited (BHEL), Hyosung Heavy Industries Corporation, Sieyuan Electric Co. Ltd., CG Power and Industrial Solutions Limited, American Superconductor Corporation, LS Electric Co. Ltd., JEMA Energy S.A., HICO America, Merus Power Plc, NR Electric Co. Ltd., Comsys AB, ZDDQ Electric Co. Ltd.
Asia-Pacific was the largest region in the static synchronous compensator (STATCOM) market in 2024. The regions covered in static synchronous compensator (STATCOM) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the static synchronous compensator (STATCOM) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A Static Synchronous Compensator (STATCOM) is a power electronic device utilized in electrical power systems to control voltage and enhance stability by quickly injecting or absorbing reactive power. It connects in parallel (shunt) with the power system and employs voltage-source converters to produce a controllable AC voltage. This process helps maintain the desired voltage level, improve power factor, and increase overall system reliability. STATCOMs react rapidly and efficiently to grid changes, making them crucial for modern voltage control and power quality management.
The primary types of Static Synchronous Compensators (STATCOM) include low voltage STATCOM and high voltage STATCOM. A low voltage STATCOM regulates voltage and manages reactive power in low-voltage electrical systems, improving power quality and system stability. Its key components consist of power electronics, control systems, transformers, filters, and protection devices. The technology variants include voltage source converter (VSC) STATCOM, current source converter (CSC) STATCOM, and hybrid STATCOM. These systems are distributed through channels like original equipment manufacturers (OEMs) and aftermarket suppliers. They serve various end-users such as utility companies, industrial sectors, renewable energy developers, transportation, and commercial establishments.
The static synchronous compensator (STATCOM) market research report is one of a series of new reports that provides static synchronous compensator (STATCOM) market statistics, including the static synchronous compensator (STATCOM) industry global market size, regional shares, competitors with the static synchronous compensator (STATCOM) market share, detailed static synchronous compensator (STATCOM) market segments, market trends, and opportunities, and any further data you may need to thrive in the static synchronous compensator (STATCOM) industry. This static synchronous compensator (STATCOM) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The static synchronous compensator (STATCOM) market consists of revenues earned by entities by providing services such as reactive power compensation, voltage regulation, grid stability support, harmonic filtering, renewable energy integration support, transmission and distribution support, industrial power quality improvement, system design and engineering, installation and commissioning, and monitoring and maintenance. The market value includes the value of related goods sold by the service provider or included within the service offering. The static synchronous compensator (STATCOM) market also includes sales of voltage source converters, control systems, digital controllers, transformers, harmonic filters, and spare parts. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The static synchronous compensator (STATCOM) market size is expected to see strong growth in the next few years. It will grow to $1.66 billion in 2029 at a compound annual growth rate (CAGR) of 8.9%. The growth projected for the forecast period is driven by the increasing demand for voltage stability, rising investments in energy storage integration, a stronger focus on reducing transmission losses, the growing necessity for real-time grid monitoring and control, and continued investments in smart grid technologies. Key trends in the forecast period include the development of modular STATCOM designs, enhanced integration of advanced power electronics, innovations in real-time grid monitoring, incorporation with energy storage systems, and improvements in cooling technologies.
The increasing demand for renewable energy is expected to drive the growth of the static synchronous compensator (STATCOM) market in the future. Renewable energy comes from natural sources or processes that are continuously replenished and cannot be exhausted. This demand is largely fueled by growing concerns about climate change, prompting governments, businesses, and consumers to adopt cleaner energy alternatives to lower greenhouse gas emissions and combat global warming. STATCOM supports renewable energy integration by delivering fast and dynamic voltage regulation, which improves grid stability and power quality despite the fluctuating nature of renewable sources. For example, in December 2024, Eurostat, a Luxembourg-based government agency, reported that the share of energy from renewable sources in the European Union’s transport sector rose to 10.8% in 2023, up from 9.6% in 2022. Consequently, the rising demand for renewable energy is propelling the growth of the STATCOM market.
Leading companies in the static synchronous compensator (STATCOM) market are developing innovative solutions, such as alternating current transmission systems, to boost grid stability and power quality. Alternating current (AC) transmission systems transfer electricity over long distances using AC, creating a stable grid environment where STATCOMs can regulate voltage and enhance power quality through rapid reactive power compensation. For instance, in August 2024, GE Vernova Inc., a US-based energy equipment manufacturer and service provider, introduced the FACTSFLEX GFMe, an advanced STATCOM system that incorporates supercapacitor-based energy storage to improve grid stability and facilitate renewable energy integration. This solution tackles voltage fluctuations and frequency disturbances caused by the intermittent output of solar and wind power. By offering virtual inertia and grid-forming capabilities, the FACTSFLEX GFMe ensures reliable and efficient grid performance, especially in areas with weaker infrastructure or high levels of renewable energy penetration.
In March 2024, Renewable Energy Systems, a UK-based renewable energy firm, acquired Ingeteam’s renewable service division for an undisclosed sum. This acquisition aims to establish Renewable Energy Systems as the world’s largest independent, technology-neutral renewable energy services provider by broadening its operational reach, enhancing service capabilities across diverse renewable technologies, and accelerating the shift toward a zero-carbon energy future. Ingeteam Power Technology, S.A., based in Spain, manufactures electrical control equipment and supplies static synchronous compensators.
Major players in the static synchronous compensator (statcom) market are Mitsubishi Electric Corporation, Hitachi Energy Ltd., Siemens AG, General Electric Company (GE), ABB Ltd., Toshiba Corporation, Chint Group Corporation, Eaton Corporation plc, Bharat Heavy Electricals Limited (BHEL), Hyosung Heavy Industries Corporation, Sieyuan Electric Co. Ltd., CG Power and Industrial Solutions Limited, American Superconductor Corporation, LS Electric Co. Ltd., JEMA Energy S.A., HICO America, Merus Power Plc, NR Electric Co. Ltd., Comsys AB, ZDDQ Electric Co. Ltd.
Asia-Pacific was the largest region in the static synchronous compensator (STATCOM) market in 2024. The regions covered in static synchronous compensator (STATCOM) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the static synchronous compensator (STATCOM) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A Static Synchronous Compensator (STATCOM) is a power electronic device utilized in electrical power systems to control voltage and enhance stability by quickly injecting or absorbing reactive power. It connects in parallel (shunt) with the power system and employs voltage-source converters to produce a controllable AC voltage. This process helps maintain the desired voltage level, improve power factor, and increase overall system reliability. STATCOMs react rapidly and efficiently to grid changes, making them crucial for modern voltage control and power quality management.
The primary types of Static Synchronous Compensators (STATCOM) include low voltage STATCOM and high voltage STATCOM. A low voltage STATCOM regulates voltage and manages reactive power in low-voltage electrical systems, improving power quality and system stability. Its key components consist of power electronics, control systems, transformers, filters, and protection devices. The technology variants include voltage source converter (VSC) STATCOM, current source converter (CSC) STATCOM, and hybrid STATCOM. These systems are distributed through channels like original equipment manufacturers (OEMs) and aftermarket suppliers. They serve various end-users such as utility companies, industrial sectors, renewable energy developers, transportation, and commercial establishments.
The static synchronous compensator (STATCOM) market research report is one of a series of new reports that provides static synchronous compensator (STATCOM) market statistics, including the static synchronous compensator (STATCOM) industry global market size, regional shares, competitors with the static synchronous compensator (STATCOM) market share, detailed static synchronous compensator (STATCOM) market segments, market trends, and opportunities, and any further data you may need to thrive in the static synchronous compensator (STATCOM) industry. This static synchronous compensator (STATCOM) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The static synchronous compensator (STATCOM) market consists of revenues earned by entities by providing services such as reactive power compensation, voltage regulation, grid stability support, harmonic filtering, renewable energy integration support, transmission and distribution support, industrial power quality improvement, system design and engineering, installation and commissioning, and monitoring and maintenance. The market value includes the value of related goods sold by the service provider or included within the service offering. The static synchronous compensator (STATCOM) market also includes sales of voltage source converters, control systems, digital controllers, transformers, harmonic filters, and spare parts. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Static Synchronous Compensator (STATCOM) Market Characteristics3. Static Synchronous Compensator (STATCOM) Market Trends And Strategies4. Static Synchronous Compensator (STATCOM) Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Trade Wars and Tariffs, And Covid And Recovery On The Market32. Global Static Synchronous Compensator (STATCOM) Market Competitive Benchmarking And Dashboard33. Key Mergers And Acquisitions In The Static Synchronous Compensator (STATCOM) Market34. Recent Developments In The Static Synchronous Compensator (STATCOM) Market
5. Global Static Synchronous Compensator (STATCOM) Growth Analysis And Strategic Analysis Framework
6. Static Synchronous Compensator (STATCOM) Market Segmentation
7. Static Synchronous Compensator (STATCOM) Market Regional And Country Analysis
8. Asia-Pacific Static Synchronous Compensator (STATCOM) Market
9. China Static Synchronous Compensator (STATCOM) Market
10. India Static Synchronous Compensator (STATCOM) Market
11. Japan Static Synchronous Compensator (STATCOM) Market
12. Australia Static Synchronous Compensator (STATCOM) Market
13. Indonesia Static Synchronous Compensator (STATCOM) Market
14. South Korea Static Synchronous Compensator (STATCOM) Market
15. Western Europe Static Synchronous Compensator (STATCOM) Market
16. UK Static Synchronous Compensator (STATCOM) Market
17. Germany Static Synchronous Compensator (STATCOM) Market
18. France Static Synchronous Compensator (STATCOM) Market
19. Italy Static Synchronous Compensator (STATCOM) Market
20. Spain Static Synchronous Compensator (STATCOM) Market
21. Eastern Europe Static Synchronous Compensator (STATCOM) Market
22. Russia Static Synchronous Compensator (STATCOM) Market
23. North America Static Synchronous Compensator (STATCOM) Market
24. USA Static Synchronous Compensator (STATCOM) Market
25. Canada Static Synchronous Compensator (STATCOM) Market
26. South America Static Synchronous Compensator (STATCOM) Market
27. Brazil Static Synchronous Compensator (STATCOM) Market
28. Middle East Static Synchronous Compensator (STATCOM) Market
29. Africa Static Synchronous Compensator (STATCOM) Market
30. Static Synchronous Compensator (STATCOM) Market Competitive Landscape And Company Profiles
31. Static Synchronous Compensator (STATCOM) Market Other Major And Innovative Companies
35. Static Synchronous Compensator (STATCOM) Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Static Synchronous Compensator (STATCOM) Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on static synchronous compensator (statcom) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for static synchronous compensator (statcom) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The static synchronous compensator (statcom) market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Low Voltage Static Synchronous Compensator (STATCOM); High Voltage Static Synchronous Compensator (STATCOM)2) By Component: Power Electronics; Control Systems; Transformers; Filters; Protection Equipment
3) By Technology Type: Voltage Source Converter (VSC) Static Synchronous Compensator; Current Source Converter (CSC) Static Synchronous Compensator; Hybrid Static Synchronous Compensator
4) By Distribution Channel: Original Equipment Manufacturer (OEM); Aftermarket
5) By End-User: Utility Providers; Industrial Sector; Renewable Energy Developers; Transportation Sector; Commercial Establishments
Subsegments:
1) By Low Voltage Static Synchronous Compensator (STATCOM): Industrial Power Systems; Commercial Power Systems; Renewable Energy Integration; Data Centers; Urban Distribution Networks2) By High Voltage Static Synchronous Compensator (STATCOM): Utility Transmission Grids; Renewable Energy Plants (Wind, Solar); Industrial Bulk Power Consumers; Smart Grid Infrastructure; Cross-Border Interconnections
Key Companies Profiled: Mitsubishi Electric Corporation; Hitachi Energy Ltd.; Siemens AG; General Electric Company (GE); ABB Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Mitsubishi Electric Corporation
- Hitachi Energy Ltd.
- Siemens AG
- General Electric Company (GE)
- ABB Ltd.
- Toshiba Corporation
- Chint Group Corporation
- Eaton Corporation plc
- Bharat Heavy Electricals Limited (BHEL)
- Hyosung Heavy Industries Corporation
- Sieyuan Electric Co. Ltd.
- CG Power and Industrial Solutions Limited
- American Superconductor Corporation
- LS Electric Co. Ltd.
- JEMA Energy S.A.
- HICO America
- Merus Power Plc
- NR Electric Co. Ltd.
- Comsys AB
- ZDDQ Electric Co. Ltd.