Static VAR Compensators on Track to Reach $1,135.4 Million by 2030
The global static VAR compensator market size was valued at $758.2 million in 2020, and is projected to reach $1,135.4 million by 2030, growing at a CAGR of 4.1% from 2021 to 2030.๐๐ผ๐๐ป๐น๐ผ๐ฎ๐ฑ ๐ฃ๐๐ ๐ฆ๐ฎ๐บ๐ฝ๐น๐ฒ: https://www.alliedmarketresearch.com/request-sample/A13634
A Static VAR Compensator (SVC) serves as a static generator or absorber, utilized to regulate current output by exchanging capacitive current. This adjustment aids in the maintenance and control of parameters within electrical power systems.
The escalation of fuel prices and growing awareness regarding zero-emission transportation systems have prompted governments in countries like India, Bangladesh, and others to intensify their focus on electrified railway infrastructure. For example, as reported by the Indian Ministry of Railways, the proportion of electrified railway tracks surged from 24% in 2000 to 40% in 2017, further climbing to over 65% by the end of 2020. This trend is expected to drive the demand for Static VAR Compensators, facilitating the enhancement of voltage profiles in railway traction systems and consequently fostering market growth. Such developments are anticipated to significantly bolster the expansion of the global market.
๐๐๐ ๐ก๐ผ๐ & ๐๐ฒ๐ ๐๐ ๐ฐ๐น๐๐๐ถ๐๐ฒ ๐๐ถ๐๐ฐ๐ผ๐๐ป๐ ๐ข๐ป ๐ง๐ต๐ถ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.alliedmarketresearch.com/checkout-final/90e40bb803badddb7a325f8512e7cdfd
The advanced digital control algorithm for the SVC system developed by General Electronics represents the latest design methodology by using a powerful model-based design approach. It is built by using a core library of complex control algorithms with automated code generation for all testing and verification stages. It also consists of a built-in event logger with automated time stamping of one millisecond resolution and can be remotely accessed via the internet using a secured protocol. This model-based advanced digital control algorithm for the SVC system has already revolutionized the approach for critical control software in power grids, aviation, renewable energy, and other sectors. Thus, the use of advance digital control SVC systems with automated control features is anticipated to open up new sales opportunities in the market.
๐๐ฒ๐ ๐บ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐๐ฒ๐ด๐บ๐ฒ๐ป๐๐
๐๐ ๐ง๐๐ฝ๐ฒ:
Thyristor-based
TCR-FC
TCR-TSC
MCR-Based
๐๐ ๐๐ผ๐บ๐ฝ๐ผ๐ป๐ฒ๐ป๐
Power Electronic Device
Harmonic Filter
Thyristor
Reactor
Capacitor Bank
GIS Switchgear
Control Protection System
Others
๐๐ ๐๐ป๐ฑ ๐จ๐๐ฒ
Electric Utility
Railways
Industrial
Steel and Metal
Mining
Heavy Industrial
Oil and Gas
๐ ๐ฎ๐ธ๐ฒ ๐ฎ๐ป ๐๐ป๐พ๐๐ถ๐ฟ๐:
https://www.alliedmarketresearch.com/purchase-enquiry/A13634
By type, the market is segregated into thyristor based and MCR based. The thyristor-based segment dominated the global market in terms of revenue in 2020, with over three-fourth of the total share. The thyristor-based static VAR compensator enhances the system stability and power over an unlimited range without any time delay. This feature has attracted the sales of thyristor-based static VAR compensators among various end-use sectors, thereby fueling the market growth.
By component, the global static VAR compensator market is classified into power electronic device, harmonic filter, thyristor, reactor, capacitor bank, GIS switchgear, control protection system, and others. The thyristor segment dominated the global market in terms of revenue in 2020, with over one-fourth of the total share. the use of thyristor in static VAR compensator enhances the system's stability and power over an unlimited range without any time delay. This feature has attracted the sales of static VAR compensators among various end use sectors. In addition, the escalating demand for static VAR compensators with thyristor in AC controllers, electric-utility, and others is anticipated to create remunerative opportunities for the market.
๐๐ฒ๐ ๐๐ถ๐ป๐ฑ๐ถ๐ป๐ด๐ ๐ผ๐ณ ๐๐ต๐ฒ ๐ฆ๐๐๐ฑ๐:
โข The MCR based segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.7% from 2021 to 2030.
โข The GIS switchgear component is anticipated to register the highest CAGR of 5.0% during the forecast period.
โข The Railway end-use segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.6% from 2021 to 2030.
โข Asia-Pacific garnered the highest share of 29.4% in 2020, in terms of revenue, growing at a CAGR of 5.6%
๐๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
โข Hitachi ABB Power Grids
โข Mitsubishi Electric Corporation
โข American Superconductor Corporation
โข NR Electric Co. Ltd.
โข Siemens AG
โข Rongxin Power Ltd.
โข Nidec Industrial Solutions
โข General Electric
โข Eaton
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