Statcom Market Size, Trends & Growth Analysis-2032

According to latest Repor byFortune Business Insights™ , The global STATCOM market size stood at USD 603.3 million in 2021. The market is projected to grow from USD 633.3 million in 2022 to USD 941.2 million by 2029, exhibiting a CAGR of 5.8% during the forecast period.  

Global Statcom Market By Type (Low Voltage, Medium Voltage, and High Voltage), By End-user (Utility, Railway, Steel Manufacturing, Renewable Energy, and Others), and Regional Forecast, 2022-2029 – The Statcom Market is expected to increase significantly between 2024 and 2032. This intelligence report provides a detailed analysis of the market’s size, share, growth, potential, competitive landscape, manufacturers/players/vendors analysis, segments and sub-segments, and forecasting. The research also covers market drivers, obstacles (both present and future), revenue growth, future roadmap, standardization, deployment strategies, and forecast analysis.

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KEY PLAYERS:

The major companies profiled in the report includes:

  • Mitsubishi Electric.
  • ABB
  • CG Power and Industrial Solutions Limited
  • Ingeteam S.A.
  • Jema Energy
  • S&C Electric Company
  • Schneider Electric
  • Siemens
  • Toshiba Corporation
  • STATCOM market are GE

Statcom Market Industry Competitive Analysis:

  • November 2021 – Hitachi Energy rolled out IdentiQ. The product is a type of STATCOM that exhibits the property of the digital twin of the HVDC converter station. Along with 3D interactive visualization, IdentiQ offers all the relevant information on operational data, analytics, assets, and others.
  • May 2021 – Siemens Energy announced that it received an order for two static synchronous compensators systems for grid stabilization from Italian transmission system operator Terna. S.p.A. Both the STATCOM systems formed part of the company’s SVC PLUS series and will be constructed in Latina (Lazio region) and Villanova (Abruzzo region). The units will contribute to interconnections between mainland Italy and Sardinia and Montenegro and Italy.
  • April 2021 – Amprion commissioned Siem

Key benefits

Product Demand to Rise on Account of Frequent Power Outages

The report provides an extensive analysis of the factors that drive as well as restrain the growth of the world artificial lift system market.

The market projections from 2024 to 2032 along with the impacting factors are mentioned in the report.

The report also provides quantitative as well as qualitative trends to assist the stakeholders understand the market scenario.

In-depth analyses of the key segments of the market demonstrate the consumption of Statcom Market  in different applications across different end-user industries.

Competitive intelligence highlights the business practices adopted by the leading market players across various geographies.

Industry Segmentations:

Segmentation

 By Type, End-user, and Region

By Type

  • Low Voltage (Less than 20 Mvar)
  • Medium Voltage (20-100 Mvar)
  • High Voltage (Greater than 100 Mvar)

By End-User

  • Utility
  • Railway
  • Steel Manufacturing
  • Renewable Energy
  • Others

 The following key features of the global market mentioned in the report Statcom Market are:

Market share

Industry drivers

New products advancement

Regional fractures

Economic indicators

Major producers

Research on the fixed market rate

Challenges for the market

Potential and prominent players

Mergers, acquisitions, and development

 Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning

Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.

Detailed analysis of the market revenue over the forecasted period.

Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.

Study on the segments that are anticipated to dominate the market.

Study on the regional analysis that is expected to register the highest growth over the forecast period

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The report shares key insights on:

  • Current market size
  • Market forecast
  • Market opportunities
  • Key drivers and restraints
  • Regulatory scenario
  • Industry trend
  • New product approvals/launch
  • Promotion and marketing initiatives
  • Pricing analysis
  • Competitive landscape

 Frequently Asked Questions (FAQs) for Statcom Market Report:

A well-structured report should anticipate and address common questions industry stakeholders might have. Here are some key FAQs to consider including:

  • What is the current global energy mix, and how is it expected to change in the future?
  • What are the main challenges facing the energy and power industry?
  • How are technological advancements impacting the way we generate, transmit, and distribute electricity?
  • What role do government policies play in shaping the energy and power landscape?
  • What are the potential impacts of climate change on the energy and power industry?
  • What is the future of energy prices?

Detailed TOC of Global Statcom Market Report 2024

 Chapter 1 Statcom Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 Global Statcom Market Forecast

Continued….

TOC continued …

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