Static Var Generator (SVG) Market: Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports

Static Var Generator (SVG) Market Size
The global Static Var Generator (SVG) market was valued at US$ 789.7 million in 2023 and is anticipated to reach US$ 1130.8 million by 2030, witnessing a CAGR of 5.2% during the forecast period 2024-2030.

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Static Var Generator (SVG) Market
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.
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.
This report aims to provide a comprehensive presentation of the global market for Static Var Generator (SVG), with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Static Var Generator (SVG).

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Segment by Type
• Low Voltage SVG
• High Voltage SVG

Segment by Application
• Electric Utilities
• Renewable Energy
• Industrial & Manufacturing
• Others

By Company
Siemens, Hitachi ABB, Mitsubishi Electric, GE, AMSC, NR Electric Co., Ltd., Xin Fengguang, Sieyuan Electric, Rongxin Power Electronic Co., Ltd, Taikai Power Electronic, TBEA, XJ Group, Hopewind

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