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,

industry

Published: 2024-04-18

industry

Page Views: 1042

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).

 

 Static Synchronous Compensator (STATCOM)

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)

Static Synchronous Compensator (STATCOM)
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

Static Synchronous Compensator (STATCOM)
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

Static Synchronous Compensator (STATCOM)
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

 Static Synchronous Compensator (STATCOM)

 Static Synchronous Compensator (STATCOM)

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.


About QYResearch

QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.

QYResearch is a world-renowned large-scale consulting company. The industry covers various high-tech industry chain market segments, spanning the semiconductor industry chain (semiconductor equipment and parts, semiconductor materials, ICs, Foundry, packaging and testing, discrete devices, sensors, optoelectronic devices), photovoltaic industry chain (equipment, cells, modules, auxiliary material brackets, inverters, power station terminals), new energy automobile industry chain (batteries and materials, auto parts, batteries, motors, electronic control, automotive semiconductors, etc.), communication industry chain (communication system equipment, terminal equipment, electronic components, RF front-end, optical modules, 4G/5G/6G, broadband, IoT, digital economy, AI), advanced materials industry Chain (metal materials, polymer materials, ceramic materials, nano materials, etc.), machinery manufacturing industry chain (CNC machine tools, construction machinery, electrical machinery, 3C automation, industrial robots, lasers, industrial control, drones), food, beverages and pharmaceuticals, medical equipment, agriculture, etc.

 

Contact Us:

If you have any queries regarding this report or if you would like further information, please contact us:

QY Research Inc.

Add: 17890 Castleton Street Suite 369 City of Industry CA 91748 United States

E-mail: global@qyresearch.com

Tel: 001-626-842-1666(US)  0086-133 1872 9947(CN)

EN: https://www.qyresearch.com

JP: https://www.qyresearch.co.jp

 

A comprehensive and in-depth analysis of current industry data on markets, competitors and suppliers.

In-depth research on key industry players and analysis of production and sales operations.

Objective forecasts of future trends in the industry.

WHAT QYRESEARCH OFFER?
Competition

Competition

Key players, new entrants,acquisitions, mergers and expansions,development trends and challenges.

Industry Analysis

Industry Analysis

Rawmaterial, application, product type, demand,supply,downstream, supply chain etc.

Market Size

Market Size

Capacity, production, sales, revenue, price, cost etc.

Customized Information

Customized Information

We can offer customized survey and information to meet ourclient's need.