Global TCR Static Var Compensator (SVC) Market Growth (Status and Outlook) 2025-2031

The global TCR Static Var Compensator (SVC) market size is predicted to grow from US$ 1144 million in 2025 to US$ 1653 million in 2031; it is expected to grow at a CAGR of 6.3% from 2025 to 2031.

A static VAR compensator (SVC) is a set of electrical devices for providing fast-acting reactive power on high-voltage electricity transmission networks. SVCs are part of the Flexible AC transmission system device family, regulating voltage, power factor, harmonics and stabilizing the system. A static VAR compensator has no significant moving parts (other than internal switchgear). Prior to the invention of the SVC, power factor compensation was the preserve of large rotating machines such as synchronous condensers or switched capacitor banks.

A TCR Static Var Compensator (SVC) is a type of power electronic device used in electrical power systems to provide dynamic voltage regulation and reactive power compensation. It consists of a Thyristor-Controlled Reactor (TCR) and other components, which work together to control the reactive power injected or absorbed from the system. The TCR is controlled by thyristors, allowing for rapid adjustments in response to changes in the system’s demand for reactive power, thus improving stability, voltage control, and overall power quality in the network. SVCs are commonly used in applications like voltage support for industrial plants, grid stabilization, and power factor correction.

The TCR Static Var Compensator (SVC) market is witnessing significant growth due to the increasing demand for voltage regulation and reactive power compensation in electrical grids. SVCs, which are primarily used in power systems to stabilize voltage levels and improve power quality, are crucial for maintaining the reliability and efficiency of modern electrical grids. With the growing need for grid modernization, especially in regions with fluctuating renewable energy sources, the demand for SVCs is rising. The Thyristor-Controlled Reactor (TCR) in these systems allows for quick and efficient adjustment of reactive power, which is critical for managing grid stability, especially during load variations or faults.

In the current market, the major players in the TCR SVC segment include large power system manufacturers and solution providers who are focused on offering efficient and flexible solutions to tackle voltage fluctuations. The demand for SVCs is largely driven by industries such as utilities, manufacturing, and large-scale infrastructure projects. The increasing integration of renewable energy sources like wind and solar power into national grids has made voltage stability a greater challenge, creating a need for more advanced and dynamic reactive power compensation systems like the TCR SVC. Furthermore, the global push for energy efficiency and grid reliability is expected to continue driving the adoption of these devices.

Looking ahead, the future of the TCR SVC market is expected to be shaped by the ongoing developments in smart grids and advanced grid management systems. As the energy sector transitions toward more sustainable and decentralized energy sources, the integration of SVCs with grid management technologies will become even more essential. In particular, the ability of TCR SVCs to dynamically adjust to rapid changes in grid conditions, such as those caused by the intermittency of renewable energy, will make them a crucial component of future power systems. The demand for TCR SVCs is also expected to increase in emerging markets as they undergo industrialization and infrastructure development, requiring more sophisticated and reliable voltage control solutions.

LPI (LP Information)' newest research report, the “TCR Static Var Compensator (SVC) Industry Forecast” looks at past sales and reviews total world TCR Static Var Compensator (SVC) sales in 2024, providing a comprehensive analysis by region and market sector of projected TCR Static Var Compensator (SVC) sales for 2025 through 2031. With TCR Static Var Compensator (SVC) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world TCR Static Var Compensator (SVC) industry.

This Insight Report provides a comprehensive analysis of the global TCR Static Var Compensator (SVC) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on TCR Static Var Compensator (SVC) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global TCR Static Var Compensator (SVC) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for TCR Static Var Compensator (SVC) and breaks down the forecast by Voltage, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global TCR Static Var Compensator (SVC).

This report presents a comprehensive overview, market shares, and growth opportunities of TCR Static Var Compensator (SVC) market by product type, application, key players and key regions and countries.

Segmentation by Voltage:
Voltage: 0kV - 6kV
Voltage: 6kV - 10kV
Voltage: 10kV - 20kV
Voltage: 20kV - 30kV
Voltage: 30kV - 40kV
Other

Segmentation by Application:
Electrical Grid
Metallurgy & Steel
Mining
New Energy
Chemical
Transport
Other

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
ABB
Siemens
Taikai Power Electronic
NR Electric
CRERT
Guirong Xieping
Rongxin Power Electronic
Liaoning Lide Investment Holding Group
Hitachi
Mitsubishi Electric
S&C Electric
GE
AMSC
Ingeteam
Comsys AB

Please note: The report will take approximately 2 business days to prepare and deliver.