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 Size

Report ID: GMI7012

Published Date: December 2024

Report Format: PDF

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Static VAR Compensator Market Size

The global static VAR Compensator market was valued at USD 1.33 billion in 2024 and is estimated to grow at a CAGR of 5% from 2025 to 2034. The rising adoption of renewable energy sources, coupled with the growing demand for reactive power control to ensure grid stability will enhance the business landscape. These units are integrated with renewable energy systems to stabilize voltage and ensure compatibility with the power grid.

A static VAR compensator are essential devices in the electrical power industry, offering dynamic reactive power compensation and voltage control for power grids. Advances in these technologies have enhanced the precision and responsiveness of SVCs, improving their effectiveness in voltage regulation. Additionally, energy-efficient designs reduce losses and operating costs, further driving the growth potential of the industry.

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: 35

Countries covered: 29

Pages: 125

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Static VAR Compensator Market Size

Static VAR Compensator Market Size

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