The future of the global static synchronous compensator market looks promising with opportunities in the utility, railway, steel manufacturing, and renewable energy markets. The global static synchronous compensator market is expected to reach an estimated $1.7 billion by 2030 with a CAGR of 10.2% from 2024 to 2030. The major drivers for this market are growing demand for renewable electricity, rising demand for smart grid infrastructure and smart meter roll outs, and increasing government initiatives to modernize power infrastructure.
Some of the key questions
answered in this exclusive report are:
Q.1. What are some of
the most promising, high-growth opportunities for the static synchronous
compensator market by type (low voltage, medium voltage, and high voltage), end
use industry (utility, railway, steel manufacturing, renewable energy, and
others), and region (North America, Europe, Asia Pacific, and the Rest of the
World)?
Q.2. Which segments will
grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and
why?
Q.4. What are the key
factors affecting market dynamics? What are the key challenges and business
risks in this market?
Q.5. What are the
business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of
the changing demands of customers in the market?
Q.8. What are the new
developments in the market? Which companies are leading these developments?
Q.9. Who are the major
players in this market? What strategic initiatives are key players pursuing for
business growth?
Q.10. What are some of
the competing products in this market and how big of a threat do they pose for
loss of market share by material or product substitution?
Q.11. What M&A
activity has occurred in the last 5 years and what has its impact been on the
industry?
Market Segmentation:
In this market, low
voltage, medium voltage, and high voltage are the major segments of static
synchronous compensator market by type. Lucintel forecast that medium voltage
will remain the highest growing segment over the forecast period due to growing
demand for voltage stabilization and supporting requirement for poor power
factor in utility transmission and distribution.Within this market, utility
will remain the largest segment over the forecast period due to its rising
usage in various applications such as, reactive power optimization of
load-center substation and voltage stability.
APAC will remain the
largest region over the forecast period due to existence of largest capacity
for renewable electricity generation, as well as growing electricity generation
and renewable investment across the region.
Siemens, Hitachi, GE
Energy, Mitsubishi, Sieyuan Electric, Hyosung Heavy Industries, Ingeteam,
American Superconductor, Eaton Corporation, and RXHK are the major suppliers in
the static synchronous compensator market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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