Press release
Lucintel Forecasts the Global Static Synchronous Compensator Market to Reach $1.2 billion by 2031
The study includes a forecast for the global static synchronous compensator by type, end use industry, and region
According to a market report by Lucintel, the future of the global static synchronous compensator market looks promising with opportunities in the utility, railway, steel manufacturing, and renewable energy markets. The global static synchronous compensator market is expected to reach an estimated $1.2 billion by 2031 from $0.9 billion in 2025, at a CAGR of 4.7% from 2025 to 2031. The major drivers for this market are the growing demand for renewable electricity, rising demand for smart grid infrastructure and smart meter roll outs, and increasing government initiatives to modernize power infrastructure.
A more than 150-page report to understand trends, opportunity and forecast in static synchronous compensator market to 2031 by type (low voltage, medium voltage, and high voltage), end use industry (utility, railway, steel manufacturing, renewable energy, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecast that medium voltage will remain the highest growing segment over the forecast period due to growing demand for voltage stabilization and supporting requirement for poor power factor in utility transmission and distribution.
Within this market, utility will remain the largest segment over the forecast period due to its rising usage in various applications such as, reactive power optimization of load-center substation and voltage stability.
Download sample by clicking on static synchronous compensator market
APAC will remain the largest region over the forecast period due to existence of largest capacity for renewable electricity generation, as well as growing electricity generation and renewable investment across the region.
Siemens, Hitachi, GE Energy, Mitsubishi, Sieyuan Electric, Hyosung Heavy Industries, Ingeteam, American Superconductor, Eaton Corporation, RXHK are the major suppliers in the static synchronous compensator market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact: Roy Almaguer Lucintel Dallas, Texas, USA Email: roy.almaguer@lucintel.com Tel. +1-972-636-5056
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