The Static Synchronous Compensator (STATCOM) Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Static Synchronous Compensator (STATCOM) Market?
The market size of the Static Synchronous Compensator (STATCOM) has seen significant growth lately. The market is projected to expand from $1.08 billion in 2024 to $1.18 billion in 2025, representing a compound annual growth rate (CAGR) of 9.3%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Static Synchronous Compensator (STATCOM) Industry?
The Static Synchronous Compensator (STATCOM) market is projected to grow to a size of $1.66 billion by the year 2029. The expected compound annual growth rate (CAGR) for this period is forecasted at 8.9%.
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What are the Key Growth Drivers Fueling the Static Synchronous Compensator (STATCOM) Market?
The key drivers in the static synchronous compensator (statcom) market are:
• Rising demand for voltage stability
• Increasing investments in energy storage integration
• Growing efforts in reducing transmission losses
• Increasing need for real-time grid monitoring and control
• Rising investments in smart grid technologies.
Global Market Segmentation: Identifying Major Static Synchronous Compensator (STATCOM) Industry Segments
The static synchronous compensator (STATCOM) market covered in this report is segmented –
1) By Type: Low Voltage Static Synchronous Compensator (STATCOM), High Voltage Static Synchronous Compensator (STATCOM)
2) By Component: Power Electronics, Control Systems, Transformers, Filters, Protection Equipment
3) By Technology Type: Voltage Source Converter (VSC) Static Synchronous Compensator, Current Source Converter (CSC) Static Synchronous Compensator, Hybrid Static Synchronous Compensator
4) By Distribution Channel: Original Equipment Manufacturer (OEM), Aftermarket
5) By End-User: Utility Providers, Industrial Sector, Renewable Energy Developers, Transportation Sector, Commercial Establishments
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What are the Emerging Trends Shaping the Future of the Static Synchronous Compensator (STATCOM) Market?
The key trends in the static synchronous compensator (statcom) market are:
• Advancements in modular STATCOM designs are shaping the market future.
• The integration of advanced power electronics is a major emerging trend.
• Innovations in real-time grid monitoring are influencing the market direction.
• The integration with energy storage systems and advancements in cooling technologies are significant emerging trends.
Who Are the Top Competitors & Leading Players in the Static Synchronous Compensator (STATCOM) Market?
Major players in the static synchronous compensator (statcom) market are:
• Mitsubishi Electric Corporation
• Hitachi Energy Ltd.
• Siemens AG
• General Electric Company (GE)
• ABB Ltd.
• Toshiba Corporation
• Chint Group Corporation
• Eaton Corporation plc
• Bharat Heavy Electricals Limited (BHEL)
• Hyosung Heavy Industries Corporation
• Sieyuan Electric Co. Ltd.
• CG Power and Industrial Solutions Limited
• American Superconductor Corporation
• LS Electric Co. Ltd.
• JEMA Energy S.A.
• HICO America
• Merus Power Plc
• NR Electric Co. Ltd.
• Comsys AB
• ZDDQ Electric Co. Ltd.
Regional Dominance: Which Area Leads the Global Static Synchronous Compensator (STATCOM) Market?
Asia-Pacific was the largest region in the static synchronous compensator (STATCOM) market in 2024
