STATCOM Market Overview
As per Maximize Market Research, a global business research and consultancy firm, the total global market for “STATCOM Market” is anticipated to expand at a CAGR of 7.73% over the projected period, reaching US$ 1413.46 Mn. by 2029.
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STATCOM Market Scope and Methodology
The bottom-up approach was used in the report to estimate the STATCOM Market. The primary and secondary data sources were used to collect data. The primary source involved interviews with significant market leaders and industry experts including business owners and marketing specialists while secondary sources are a combination of the reviews of the financial and annual reports of top manufacturers. For better information on market penetration, competitive landscape demand analysis, and regional analysis are taken at the local, regional, and global levels. The report presented the PORTER and PESTLE Analysis with the potential impact of micro-economic factors of the STATCOM market. SWOT analysis is used to identify the threats and weaknesses of the market while PORTER is used to determine the competitive intensity of the industry in the STATCOM market.
STATCOM Market Regional Insights
Categorized broadly, the STATCOM market is segmented across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The report comprehensively analyzes factors, market size, growth rate, and regional import-export activities. The regional analysis extends to both local and country levels for a comprehensive examination.
STATCOM Market Segmentation
Industry-wise, the market was dominated by the power transmission segment in 2022 and is anticipated to expand quickly with a CAGR of xx% over the next five years. The expansion of the market is related to an increase in the installation of STATCOM solutions in transmission grids to give grid operators quick response times, improved options for operational voltage, reactive power correction, and small footprints. In the power transmission business, advantages like strong recovery support and high reactive output are increasing their demand. The demand to increase the voltage profile of transmission systems and the growing necessity to transport power and electricity efficiently to various consumers throughout the world are anticipated to drive market expansion over the foreseeable future.
• Low Voltage STATCOM (less than 20Mvar)
• Medium Voltage STATCOM (20 – 100Mvar)
• High Voltage STATCOM (greater than 100Mvar)
• Power Distribution
• Offshore Oil and Gas
• Steel Manufacturing
• Automobile Manufacturing
• Power Transmission
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STATCOM Market Key Players
• Bharat Heavy Electricals Limited (BHEL)
• General Electric India Ltd
• Veeral Controls Pvt. Ltd
• NR Energy Solutions India Pvt. Ltd
• Ingeteam, Inc
• Siemens AG
• Toshiba Corporation
• NR Electric Co., Ltd
• S&C Electric Company
• ABB India Limited
• Schneider Electric India Pvt. Ltd
• JEMA Energy USA LLC
• Crompton Greaves Limited
• Mitsubishi Electric India Pvt. Ltd
• Statcom Solutions
• Signotron India Pvt. Ltd
• Power One Micro Systems Pvt. Ltd
Key questions answered in the STATCOM Market are:
- What is STATCOM?
- What was the STATCOM market size in 2022?
- What are the different segments of the STATCOM Market?
- What growth strategies are the players considering to increase their presence in STATCOM?
- What are the upcoming industry applications and trends for the STATCOM Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the STATCOM Market?
- Who are the key players in the STATCOM market?
- What segments are covered in the STATCOM Market?
- Who are the leading companies and what are their portfolios in STATCOM Market?
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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