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Static VAR Compensator (SVC) Market Analysis
According to Verified Market Research, the Global Static VAR Compensator (SVC) Market was valued at USD 716.16 Million in 2018 and is expected to witness a growth of 3.68% from 2019-2026 and reach USD 954.77 Million by 2026.
What is Static VAR Compensator (SVC) Market?
A static VAR compensator can be defined as a conventional set of electrical devices for offering rapidly-acting reactive power on high-voltage electricity transmission networks. SVCs are considered as the part of the Flexible AC transmission system device family which controls voltage, power factor, harmonics and alleviates the system.
Global Static VAR Compensator (SVC) Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Growing scope of renewable sources of energy and increase in upgradation of power infrastructure is expected to fuel the market. Apart from this, geopolitical risks in the power utility market could hamper the overall growth rate.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The "Global Static VAR Compensator (SVC) Market" is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.
Global Static VAR Compensator (SVC) Market Competitive Landscape
The "Static VAR Compensator (SVC) Market" study report will provide a valuable insight with an emphasis on global market including some of the major players such ABB Ltd., General Electric, Siemens AG, Mitsubishi Electric Corporation, Eaton Corporation Plc and American Electric Power. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Static VAR Compensator (SVC) Market, By Type
• Thyristor-Based SVC
• Magnetically Controlled Reactor (MCR)-Based SVC
Global Static VAR Compensator (SVC) Market, By Component
• Power Electronics Devices
• Harmonic Filter
• Capacitor Bank
• GIS Switchgear
• Phase-Shifting Transformer (PST)
• Surge Arrester
• Control Protection System
Global Static VAR Compensator (SVC) Market, By Vertical
• Electric Utility
• Oil & Gas
Global Static VAR Compensator (SVC) Market Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
• Rest of the World
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter's five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post sales analyst support
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