What is the growth rate of the North America static VAR compensator industry?

The North America market is expected to grow at a CAGR of over 4.5% by 2034.

Who are the key players in the static VAR compensator market?

Prominent participants include ABB, American Superconductor, Clariant Power System, Delta Electronics, Eaton, Elco Power, GE Vernova, and Hitachi Energy.

What was the value of the MCR-based static VAR compensators market in 2024?

The market for MCR-based static VAR compensators was valued at over USD 14 billion in 2024.

How big is the static VAR compensator market?

The market was valued at USD 28.1 billion in 2024 and is projected to reach approximately USD 45.8 billion by 2034, growing at a CAGR of 5.1% during the forecast period.

Static VAR Compensator Market Share

Report ID: GMI7012

Published Date: April 2025

Report Format: PDF

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Static VAR Compensator Market Share

Static VAR Compensator Company Market Share Analysis, 2024

The industry participants in the static VAR compensator industry are adopting several key strategies to strengthen their position and meet evolving business demands. These include focusing on research and development to enhance product efficiency, reliability, and cost-effectiveness. Companies are also forming strategic partnerships and collaborations to expand their geographical presence and leverage advanced technologies. Diversification of product portfolios to cater to a wider range of applications, from industrial plants to renewable energy grids is another common approach.

Static VAR Compensator Market Companies

Major players operating in the static VAR compensator industry are:

ABB
American Superconductor
Clariant Power System
Delta Electronics
Eaton
Elco Power
General Electric
Hitachi Energy
JEMA Energy
Komachine
Merus Power
Mitsubishi Electric
Nidec Industrial Solutions
NISSIN ELECTRIC
NR Electric
RXPE
Siemens
Sieyuan Electric
Toshiba Energy Systems & Solutions Corporation
Wartsila

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Question(FAQ) :

What is the growth rate of the North America static VAR compensator industry?: The North America market is expected to grow at a CAGR of over 4.5% by 2034.
Who are the key players in the static VAR compensator market?: Prominent participants include ABB, American Superconductor, Clariant Power System, Delta Electronics, Eaton, Elco Power, GE Vernova, and Hitachi Energy.
What was the value of the MCR-based static VAR compensators market in 2024?: The market for MCR-based static VAR compensators was valued at over USD 14 billion in 2024.
How big is the static VAR compensator market?: The market was valued at USD 28.1 billion in 2024 and is projected to reach approximately USD 45.8 billion by 2034, growing at a CAGR of 5.1% during the forecast period.

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Authors: Ankit Gupta, Shubham Chaudhary

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Base Year: 2024

Companies covered: 20

Tables & Figures: 45

Countries covered: 30

Pages: 140

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Static VAR Compensator Market Share

Static VAR Compensator Market Share

Static VAR Compensator Market Companies

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