Static Synchronous Compensator (STATCOM) Market Analysis

Voltage Type (Low, Medium, High)

The high segment in the STATCOM market is estimated to gain a robust revenue share of 45% in the coming years owing to the growing aging infrastructure around the world. The deteriorating infrastructure of many cities globally has put pressure on the resources required to meet human requirements such as clean water and power. Governments and organizations everywhere are faced with a serious dilemma as a result of this deteriorating infrastructure since it is expected to negatively affect the power sector and may struggle to cope with modern demands.

High voltage STATCOMs offer a cost-effective solution to upgrade and modernize existing grids by enhancing system stability without the need for extensive infrastructure overhauls.

High voltage Static synchronous compensator (STATCOM) allows for scalability and flexibility at specific locations where voltage support is needed the most provides advanced control capabilities and improves the overall performance of the grid.

Application (Renewable Energy, Electric Utilities, Photovoltaic Generation)

The electric utilities segment in the STATCOM market is set to garner a notable share shortly. A static synchronous compensator (STATCOM) falls under the group of devices known as the Flexible AC transmission system (FACTS), which is a reactive compensating device used in transmission networks. Installed on transmission grids, the Static Synchronous Compensator (STATCOM) solution is a specially developed technology that offers grid operators faster response times, a smaller footprint, and improved operational voltage range in addition to reactive power adjustment compared to conventional Static Var Compensator (SVC) solutions.

Our in-depth analysis of the global market includes the following segments: