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STATCOM Market Size, Share, and Analysis, By Type (Low Voltage, Medium Voltage, and High Voltage), By Application (Electricity Network, Renewable Energy, Industrial, and Commercial), By Region (North America, Europe, Asia-Pacific, and Rest of the World),

Publisher Fatpos Global
Published Oct 01, 2024
Length 383 Pages
SKU # FAGL19312110

Description

STATCOM Market Size, Share, and Analysis, By Type (Low Voltage, Medium Voltage, and High Voltage), By Application (Electricity Network, Renewable Energy, Industrial, and Commercial), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034


STATCOM Market Size, Share, and Analysis, By Type (Low Voltage, Medium Voltage, and High Voltage), By Application (Electricity Network, Renewable Energy, Industrial, and Commercial), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034

PRODUCT OVERVIEW

STATCOM Market is anticipated to grow at a CAGR of 9.0% in the forecast period (2024-2034), with the market size valued at USD 0.86 billion in 2023 and projected to reach USD 2.23 billion by 2034.

STATCOM or static synchronous compensator, is an important component in modern power systems, that offers voltage regulation, along with improved power quality and stability in the system. STATCOMs use voltage source converters to inject or absorb reactive power into the grid and balance the levels of voltage. This capability provides a fast response to voltage fluctuations that are caused by changes in load or disturbances in the grid. Thus, by maintaining stable voltage levels, STATCOMs reduce voltage instability issues such as sags or swells and improve the efficiency of power transmission. Furthermore, it simplifies integrating renewable energy sources by ensuring smooth and reliable operation. Therefore, STATCOMs are essential in modernizing power systems by offering precise control over reactive power compensation.

MARKET HIGHLIGHTS

STATCOM Market is anticipated to reach USD 2.23 billion, growing at a CAGR of 9.0% during the forecast period, owing to the growing demand for efficient power transmission and distribution infrastructure. This surge in demand is attributed to high investments in renewable energy integration and the pressing increasing need for better power quality. Moreover, key players in the market are focusing on innovations and modular designs to improve the performance and reliability of products. In addition, industry leaders are frequently using strategic alliances and acquisitions to expand their market reach and profit. Therefore, the STATCOM industry will witness long-term growth, which is driven by growing power requirements and the essential need for grid stability.

STATCOM Market Segments:
  • By Type
  • Low Voltage
  • Medium Voltage
  • High Voltage
  • By Application
  • Electricity Network,
  • Renewable Energy
  • Industrial
  • Commercial
MARKET DYNAMICS

Growth Drivers

Integration of Renewable Energy Sources With STATCOM is Essential for Growth

Grid Modernization Initiatives Will Provide a High Rate of STATCOM Adoption

Restraint

High Initial Installation Costs Can Impact the Growth of the STATCOM Market

Key Players
  • ABB
  • GE
  • Siemens
  • Mitsubishi Electric
  • Toshiba
  • Eaton
  • Schneider Electric
  • WEG
  • NR Electric
  • T&D India
  • NR Electric
  • Hitachi ABB Power Grids
  • Hyundai Heavy Industries
  • Power Electronics International
  • Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Global Laboratory Temperature Control Units Market is further segmented by region into:
  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Reasons to Purchase this Report
  • Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
  • Provision of market value (USD Billion) data for each segment and sub-segment
  • Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
  • Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
  • Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
  • Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
  • The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
  • Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
  • Provides insight into the market through Value Chain
  • Market dynamics scenario, along with growth opportunities of the market in the years to come
  • 3-month post-sales analyst support.
*Please Note: The report will be delivered in 2-3 business days upon order confirmation*

Table of Contents

383 Pages
1.Executive Summary
1.1. Regional Market Share
1.2.Business Trends
1.3. STATCOM Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. Research Methodology
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. Market Characteristics
3.1.Market Definition
3.2.STATCOM Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.STATCOM Market – Industry Insights
4.1. Industry Segmentation
4.2.COVID-19 overview of world economy
4.3.Industry Ecosystem Channel Analysis
4.4.Innovation & Sustainability
5. Macroeconomic Indicators
6. Recent Developments
7. Market Dynamics
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.Risk Analysis
9. Market Analysis
9.1.Porter"s Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.STATCOM Market
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. STATCOM Market Size & Forecast 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1.By Type
11.3.1.1. Low Voltage
11.3.1.1.1.By Value (USD Million) 2024-2034F
11.3.1.1.2. Market Share (%) 2024-2034F
11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Medium Voltage
11.3.1.2.1. By Value (USD Million) 2024-2034F
11.3.1.2.2.Market Share (%) 2024-2034F
11.3.1.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.3.High Voltage
11.3.1.3.1. By Value (USD Million) 2024-2034F
11.3.1.3.2.Market Share (%) 2024-2034F
11.3.1.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.2. By Application
11.3.2.1.Electricity Network
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Renewable Energy
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.3. Industrial
11.3.2.3.1.By Value (USD Million) 2024-2034F
11.3.2.3.2. Market Share (%) 2024-2034F
11.3.2.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.4. Commercial
11.3.2.4.1.By Value (USD Million) 2024-2034F
11.3.2.4.2. Market Share (%) 2024-2034F
11.3.2.4.3. Y-o-Y Growth (%) 2024-2034F
12.North America STATCOM Market Size & Forecast 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1.By Storage System
12.3.2. By Industry
12.3.3. By End User
12.4. Country
12.4.1. United States
12.4.2. Canada
13.Europe STATCOM Market Size & Forecast 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Storage System
13.3.2. By Industry
13.3.3. By End User
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.Asia-Pacific STATCOM Market Size & Forecast 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Storage System
14.3.2. By Industry
14.3.3. By End User
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.Middle East and Africa STATCOM Market Size & Forecast 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Storage System
15.3.2. By Industry
15.3.3. By End User
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. Latin America STATCOM Market Size & Forecast 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1.By Storage System
16.3.2. By Industry
16.3.3. By End User
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. Competitive Landscape
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. Company Profiles
18.1.ABB
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. GE
18.3. Siemens
18.4.Mitsubishi Electric
18.5.Toshiba
18.6. Eaton
18.7. Schneider Electric
18.8.WEG
18.9. NR Electric
18.10. T&D India
18.11.NR Electric
18.12. Hitachi ABB Power Grids
18.13. Hyundai Heavy Industries
18.14. Power Electronics International
18.15. Other Prominent Players
19. Appendix
20.Consultant Recommendation

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