Global Static Var Generator (SVG) Market Insights and Forecast to 2028

SVG is also called STATCOM is a shunt device, which uses force-commutated power electronics (i.e. GTO, IGBT) to control power flow and improve transient stability on electrical power networks. It is also a member of the so-called Flexible AC Transmission System (FACTS) devices. The STATCOM basically performs the same function as the static var compensators but with some advantages.

According to Component, SVG can be divided into GTO type, IGBT type, IGCT type, SCR type, GTR type, MOSFET type. Due to the huge advantages of IGCT type, the Static Var

Generator (SVG) in the market is basically based on IGCT technology.

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Market Analysis and Insights: Global Static Var Generator (SVG) Market
Due to the COVID-19 pandemic, the global Static Var Generator (SVG) market size is estimated to be worth US$ 834.3 million in 2022 and is forecast to a readjusted size of US$ 1130.8 million by 2028 with a CAGR of 5.2% during the review period.

Currently, there are many producing companies in the world. The main market players are Hitachi ABB, Siemens, Rongxin, Sieyuan Electric, Xin Fengguang etc.

China now is the largest production of Static Var Generator (SVG), with a production market share nearly 55.94% in 2019. The Static Var Generator (SVG) price of Chinese producers is generally low.

Static Var Generator (SVG) used in industry including Renewable Energy, Electric Utilities, Industrial & Manufacturing and Others. Report data showed that 47.03% of the Static Var Generator (SVG) market demand in Electric Utilities, 28.94% in Renewable Energy in 2019.
There are two kinds' productions constituting the Static Var Generator (SVG), which are Low Voltage SVG, High Voltage SVG. High Voltage SVG is important in the Static Var Generator (SVG), with a production value market share nearly 83.72% in 2019.

Static Var Generator (SVG) is widely used in metallurgy, power, coal, non-ferrous metals, electrified railway and other key energy consumption industries. In the next few years, Static Var Generator (SVG) is growing fast.

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