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 Trends

Report ID: GMI7012

Published Date: April 2025

Report Format: PDF

Download Free PDF

Static VAR Compensator Market Trends

The static VAR compensators industry is poised for substantial growth owing to the rising emphasis on power quality across various applications. The industries and utilities are increasingly seeking solutions to stabilize voltage levels and enhance power factor, objectives that SVCs effectively address. Furthermore, the advancement of smart grids, equipped with sophisticated communication and control systems, has accelerated the demand for flexible power infrastructure, thereby driving the adoption of SVCs.

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.

Related Reports

Authors: Ankit Gupta, Shubham Chaudhary

Buy Now

Single User: $4,123 $4,850

15% off

Multi User: $4,840 $6,050

20% off

Enterprise User: $5,845 $8,350

30% off

Buy now

Premium Report Details

Base Year: 2024

Companies covered: 20

Tables & Figures: 45

Countries covered: 30

Pages: 140

Download Free PDF

Static VAR Compensator Market Trends

Static VAR Compensator Market Trends

Premium Report Details

Industries

Information

Link

Global Headquarters