Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Competitive Landscape

Siemens Energy is an energy development company that provides steam turbines, transformers, gas turbines, compressors, and generators. It has its headquarter in Munich, Germany and was founded in 2020. They focus on making reliable, affordable, and sustainable energy using creative and innovative technology to bring a change in the energy systems of the world. 

 

General Electric Company was established in 1892 and is headquartered in Massachusetts, United States. It is a multinational company that specialises in the making of products to be used in renewable energy, healthcare, and power and aviation industries. They aim to power the future of electricity and the lives of the people by developing energy technology. 

 

Nidec ASI S.p.A. was founded in 2013 and is based in Milano, Italy. It is an electricity generation company that is involved in the designing and manufacturing of industrial automation, rotating electrical machines and power electronics such as tactile devices for smartphones, hard disk drive motors, and various other products. 

 

Other market players include Hitachi Energy Limited, and Mitsubishi Electric Corporation, among others.

 

Static VAR Compensator Market Report Snapshots

Static VAR Compensator Market Size

Static VAR Compensator Market Share

Static VAR Compensator Market Analysis

Static VAR Compensator Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The global market size of static VAR compensators reached a value of more than USD 852.65 million in 2023.

The market for static VAR compensators is expected to grow at a CAGR of 4.00% between 2024 and 2032.

The global market size for static VAR compensators is expected to reach a value of more than USD 1213.59 million by 2032.

The major market drivers include increasing number of electric utilities companies, rising cases of power fluctuations, and growing demand for electrical devices.

The key trends of the market are the ability of static VAR compensators to reduce reactive power, power fluctuations in large scale industries, and increasing population.

Key market players include Siemens Energy, Hitachi Energy Limited, General Electric Company, Mitsubishi Electric Corporation, and Nidec ASI S.p.A., among others.

A static VAR compensator is an electrical device that provides immediate reactive power to high voltage transmission networks.

A static VAR compensator helps regulate the voltage, power factor, and harmonics and also help stabilise the system.

The global static VAR compensator market is segmented based on type, component, end use, and region.

Static VAR compensators are connected to the power system in order to regulate the transmission voltage and are connected near the large industrial loads in order to improve the quality of the power.

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