STATCOM Market overview
As per market research, the overall STATCOM Market is expected to grow at a high rate. The report includes the growth drivers, major restraints, upcoming challenges and prevailing opportunities in the STATCOM market. The region-wise and segment-wise analysis of the dynamics and STATCOM market size has been provided in the report.
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Market Growth Estimate:
STATCOM Market is expected to grow at a CAGR of 7.73% during the forecast period and it is expected to reach US$ 1522.72 Mn. by 2030.
Dynamics of the STATCOM market
The past few years have seen enormous expansion in the worldwide STATCOM industry. The widespread use of STATCOM regulating devices for applications such as those in rolling mills, mining and heavy industries, wind and solar farms, renewable energy markets, and electric arc furnace applications is credited with the market's expansion. The market is anticipated to grow more rapidly during the forecast period due to a number of factors, including the growing need for electricity in developing countries, the increasing levels of industrialization and urbanization, the increasing integration of STATCOM with energy storage devices, and ongoing advancements in robotics, automation, and electronics technology. Benefits from the STATCOM device include increased transmission capacity, stable voltage for power grid applications, and better performance, all of which are eventually driving the growth.
STATCOM Market Report Scope and Research Methodology
Exploring Trends and Driving Strategies - STATCOM Market Report Offers In-Depth Insights
In-depth research delves into the most significant trends within the STATCOM market and their potential impacts on new business investments and industry growth. Market trends, including new technologies, regulations, government investments, emerging applications, and international market entry, are thoroughly analyzed. The study presents a comprehensive analysis of these trends to assist clients in formulating strategies that enhance their presence in the STATCOM market.
Maximize Market Research, the industry leader, delivers exclusive key statistics, facts, insights, trends, and a competitive landscape overview within this specialized field. The report offers a meticulous analysis of the current state of the STATCOM market, projecting trends and insights up to 2029. Company profiles, covering crucial aspects such as capacity, production, pricing, costs, revenue, and contact details for global leading STATCOM market manufacturers, are expected to be included.
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STATCOM Market Segmentation
by Product
Low Voltage STATCOM (less than 20Mvar)
Medium Voltage STATCOM (20 – 100Mvar)
High Voltage STATCOM (greater than 100Mvar)
by End User
Power Distribution
Mining
Offshore Oil and Gas
Steel Manufacturing
Automobile Manufacturing
Power Transmission
According to industry, the power transmission category held the largest share of the market in 2023 and is expected to develop rapidly at a CAGR over the next several years. The market is expanding as a result of an increasing installation of STATCOM systems in transmission grids, which offer grid operators quick response times, more operational voltage options, reactive power correction, and small footprints. Furthermore, their strong recovery support and high reactive output are increasing their demand in the power transmission sector. The market is anticipated to increase during the projected period due to the growing necessity to efficiently create and transfer power and electricity utilizing transmission lines to various consumers worldwide and the growing need to improve the voltage profile of transmission systems.
STATCOM Market Key Players include:
1. Bharat Heavy Electricals Limited (BHEL)
2. General Electric India Ltd
3. Veeral Controls Pvt. Ltd
4. NR Energy Solutions India Pvt. Ltd
5. Ingeteam, Inc
6. Siemens AG
7. Toshiba Corporation
8. NR Electric Co., Ltd
9. SC Electric Company
10. ABB India Limited
11. Schneider Electric India Pvt. Ltd
12. JEMA Energy USA LLC
13. Crompton Greaves Limited
14. Mitsubishi Electric India Pvt. Ltd
15. Statcom Solutions
16. Signotron India Pvt. Ltd
17. Power One Micro Systems Pvt. Ltd
STATCOM Market Regional Insights
The report includes a detailed analysis of all the regions and their countries mentioned below:
- Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
- Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
- North America (the United States, Mexico, and Canada.)
- South America (Brazil etc.)
- The Middle East and Africa (GCC Countries and Egypt.)
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Key Questions answered in the STATCOM Market Report are:
- What is STATCOM?
- What is the expected CAGR of the STATCOM market during the forecast period?
- What factors are affecting the STATCOM market growth?
- Which region held the largest share of the global STATCOM market?
- What growth strategies are the players considering to increase their presence in STATCOM?
- Who are the leading players in STATCOM Market?
Key Offerings:
- A detailed Analysis of the Market Overview
- Market Share, Size Forecast by Revenue
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
About Maximize Market Research:
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