Global STATCOM Size, Forecast and Trend Highlights Over 2025-2037
STATCOM Market size was valued at USD 1 billion in 2024 and is expected to secure a valuation of USD 4.86 billion in 2037, expanding at a CAGR of 12.6% during the forecast period, i.e., 2025-2037. In 2025, the industry size of STATCOM s is expected to be USD 1.1 billion.
The STATCOM market is witnessing exponential growth owing to the rising renewable energy sources, creating a need for stable electric grids. Companies are collaborating to enhance the development of renewable energy infrastructure. For instance, in September 2023, GE Vernova and MYTILINEOS Energy & Metals were chosen as primary grid technology suppliers for the Eastern Green Link 1 project to design a 525kV 2GW high-voltage direct current undersea transmission system for connecting East Lothian, Scotland, to County Durham, England. The new link holds great potential to enhance the distribution capabilities of renewable electrical power between Scotland’s wind power zones and demand centers in England. These power grid advancements enable both emission reduction targets and the development of sustainable infrastructure, which protects the power supply from intermittent renewable generation when expanding clean energy infrastructure.
Recent trends toward flexible alternating current transmission systems (FACTS) as fundamental elements of modern power grids are fueling the STATCOM technology market. STATCOM devices are gaining prominence within global utilities as they enable dynamic voltage support and fast-acting reactive power compensation to enhance electrical network performance. The rise in grid disturbance frequency and urgent system recovery needs is increasing the value of STATCOMs as next-generation transmission network components.
