According to a market report by Lucintel, 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 $2 billion by 2030 from $1 billion in 2024 at a CAGR of 10.2% from 2024 to 2030. The major drivers for this market are the growing demand for renewable electricity, rising demand for smart grid infrastructure and smart meter roll outs, and increasing government initiatives to modernize power infrastructure.
A more
than 150-page report to understand trends, opportunity and forecast in global static
synchronous compensator market to 2031 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).
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.
Download
sample by clicking on static
synchronous compensator market.
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, RXHK are the major
suppliers in the static
synchronous compensator market.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cost
visit Lucintel's Analytics
Dashboard.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056
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