Static Synchronous Compensator (STATCOM) Market Research: the global market size is projected to grow from USD 938.28 million in 2024 to USD 1,255.32 million by 2030,

According to the new market research report "Static Synchronous Compensator (STATCOM) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030", published by QYResearch, the global Static Synchronous Compensator (STATCOM) market size is projected to grow from USD 938.28 million in 2024 to USD 1,255.32 million by 2030, at a CAGR of 4.97% during the forecast period (2024-2030).

 

• Global Static Synchronous Compensator (STATCOM) Market Size (US$ Million), 2019-2030

 

Source: QYResearch, "Static Synchronous Compensator (STATCOM) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

 

• Global Static Synchronous Compensator (STATCOM) Top 14 Players RankingandMarket Share (Ranking is based on the revenue of 2023, continually updated)

Source: QYResearch, "Static Synchronous Compensator (STATCOM) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

 

This report profiles key players of Static Synchronous Compensator (STATCOM) such as Hitachi, Ltd., Siemens Aktiengesellschaft, Windsun Science Technology Co., Ltd., Liaoning Rongxin Xingye Power Technology Co., Ltd., Sieyuan Electric Co., Ltd., TBEA Co., Ltd., Mitsubishi Electric Corporation, General Electric, Nari Technology Co., Ltd., Shandong Taikai Power Electronic Co., Ltd., Shenzhen Hopewind Electric Co., Ltd., American Superconductor Corporation, Ingeteam Inc., Beijing In-power Electric Co., Ltd., etc.

In 2023, the global top five Static Synchronous Compensator (STATCOM) players account for 56.93% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Static Synchronous Compensator (STATCOM).

 

• Static Synchronous Compensator (STATCOM), Global Market Size, Split by Product Segment

Source: QYResearch, "Static Synchronous Compensator (STATCOM) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

 

In terms of product type, High Voltage STATCOM is the largest segment, hold a share of 96.82%.

• Static Synchronous Compensator (STATCOM), Global Market Size, Split by Application Segment

Source: QYResearch, "Static Synchronous Compensator (STATCOM) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

 

 

In terms of product application, Electric Utilities is the largest application, hold a share of 39.35%.

 

• Static Synchronous Compensator (STATCOM), Global Market Size, Split by Region

 

 

Source: QYResearch, "Static Synchronous Compensator (STATCOM) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

 

 

Market Drivers:

D1: National Industrial Policy Support. The application fields of STATCOM include electric utilities, renewable energy, industrial & manufacturing and other fields. These fields occupy an important position in the national economy, and are the industries that the national industrial policy encourages development.

D2: There is more advantages in energy saving and consumption reduction. Compared with other compensation devices, the performance of the product is superior, and it is gradually replacing other products.

D3: STATCOM is widely used. Downstream market demand potential is huge, especially with the sustained and rapid development of renewable energy, electric utilities transient, rail transit, building energy conservation and other fields.

 

Challenge:

C1: Downstream are high-energy-consuming companies such as power and manufacturing, which are greatly affected by macroeconomic changes. If the macroeconomic downturns, it may affect the willingness to purchase related products.

C2: The core power devices are controlled by several companies, and consumers have poor bargaining power, which makes the cost of products difficult to control.

C3: The market has not yet fully understood the problem of power quality. Due to cost considerations, companies don’t pay enough attention to the investment in power quality management related equipment, affecting the large-scale use of products.

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