Static Var Compensator Market
Static VAR Compensator Market Forecasts to 2028 - Global Analysis By Type (Magnetically Controlled Reactor (MCR) Based SVC and Thyristor Based SVC), Component (GIS Switchgear, Phase Shifting Transformer and Other Components), Application (Metallurgy, Electric Utility and Other Applications) and Geography
Years Covered |
2020-2028 |
Estimated Year Value (2022) |
US $773.1 MN |
Projected Year Value (2028) |
US $1,078.2 MN |
CAGR (2022 - 2028) |
5.7% |
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
Largest Market |
North America |
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Static VAR Compensator Market is accounted for $773.1 million in 2022 and is expected to reach $1,078.2 million by 2028 growing at a CAGR of 5.7% during the forecast period. An electrical device termed a "static VAR compensator" provides rapid reactive power to high-voltage transmission networks. It assists in regulating the entire system by controlling harmonics, power factor, and voltage. For the purpose of managing the transmission voltage and enhancing the quality of the electricity, they are connected to power networks that are close to significant industrial loads. In large industrial sectors, the Static VAR Compensator (SVC) is mainly used to regulate the quality of the power supply and voltage fluctuations in transmission lines. The use of SVC has grown in the railway industry to replace the current grids as well as in the upcoming solar and wind stations.
According to a report published by the National Bureau of Statistics of China, the large-scale manufacturing industry witnessed 20% decline in production in March 2020 as compared to March 2019 while profits declined by 66%.
Market Dynamics:
Driver:
Rising copper mining
The increased demand for copper requires enhanced production capacities at mine locations all over the world. Furthermore, there are more and more greenfield mining projects being developed. Existing Brownfield mining facilities also evaluate the expansion of their output capacities. Additionally, the drives used in mining facilities are almost entirely electrical drives; this capability raises the demand for electricity consumption.
Restraint:
Growing adoption of STATCOM
Over the past several decades, there have been various transmission and distribution problems with power. The adoption of FACTS devices has increased throughout end-use industries as a solution to those issues. For voltage regulation, STATCOM and SVCs are the best FACTS devices to use. The primary controlled shunt compensation mechanism continues to be the static VAR compensator. In terms of market growth, STATCOM is better than SVC. Faster response rates and improved reactive power capability are the major drivers of STATCOM's rapid adoption. Additionally, STATCOM provides the highest voltage output even at low system voltages, which minimises the necessity for an SVC component harmonic filter.
Opportunity:
Smart Grid Infrastructure Development
Due to a significant increase in the development of smart grid infrastructure, the SVC market has experienced tremendous growth, and the roll-out of smart metres is expected to accelerate the industry's pace even further. For instance, in January 2022, the U.S. Department of Energy will launch the "Building a Better Grid" initiative to spur the development of new and upgraded high-capacity electric transmission lines across the country. Additionally, achieving the objectives of 100% clean electricity and a zero-emissions economy will require long-distance, high-voltage transmission systems, which Build a Better Grid will continue to lay out in collaboration with community and industry stakeholders. It is anticipated that such government initiatives will increase SVC adoption.
Threat:
Low awareness among corporates
The main barriers to the market for static VAR compensators are low corporate awareness of the benefits of MCR-based SVCs and high political participation in the power sector. Furthermore, it is projected that end users' resistance to adopting or switching to static VAR compensators will negatively impact market expansion.
Covid-19 Impact:
The global epidemic of 2020 has reduced demand for electricity. During the initial stages of the pandemic, major nations with high electricity consumption have seen a decline in usage. The International Energy Agency (IEA) estimates that between February 2019 and February 2020, China's electricity demand decreased by approximately 13%. Due to the pandemic's decreased need for power, static VAR compensator sales also declined.
The renewable segment is expected to be the largest during the forecast period
The expansion in investments made by investors in the renewable sector in nations in the Asia-Pacific region, including India, Japan, and China, as well as in Africa, is causing a significant growth in the market for renewable SVC. Furthermore, large numbers of plants are anticipated to be built as a result of the rise in investments; these plants will need SVC solutions for power transmission and distribution, which will have a direct impact on the expansion of the SVC market.
The thyristor based SVC segment is expected to have the highest CAGR during the forecast period
The market could grow as a result of an increase in the use of three-phase electric power systems in large-scale industries including steel manufacturing, mining, and others where thyristor-based static VAR compensators are commonly used to regulate the voltage across the inductor. Furthermore, Thyristor use in a static VAR compensator boosts a number of significant attributes, including high power factor, quick response time and real-time reactor control.
Region with largest share:
The increase in energy usage in the commercial, industrial, and residential sectors is driving the North American SVC market. The region also places an emphasis on increased production of power from renewable energy such as wind and solar. Additionally, the region is a prominent destination due to the presence of major SVC players.
Region with highest CAGR:
The regional SVC market is being driven by the expansion of the utility and renewable energy sectors across countries in Asia Pacific, as well as high volume demands for grid voltage stability. Furthermore, the area is also considered to have the world's highest electricity consumption rates, with significant market contributions from utilities, renewable energy and metallurgy.
Key players in the market
Some of the key players in Static VAR Compensator market include Toshiba Corporation, NR Electric Co Ltd, Nidec Industrial Solutions, Nidec ASI S.p.A, Hitachi Energy, General Electric, ABB, American Superconductor, Jema Energy, Maschinenfabrik Reinhausen GmbH and Mitsubishi Electric.
Key Developments:
In March 2022, Hitachi Energy announced its selection by Aker BP, the Norwegian oil and gas exploration and Production Company, as a technology partner for the NOAKA power-from-shore project off the Norwegian coast.
In December 2021, the power transmission & distribution division of Larsen & Toubro (L&T) on 16th December 2021 received dynamic reactive power compensator system order in Abu Dhabi. According to the announcement by the company, the order was for a 220 kV substation.
Types Covered:
• Magnetically Controlled Reactor (MCR) Based SVC
• Thyristor Based SVC
Components Covered:
• GIS Switchgear
• Phase Shifting Transformer
• Control Protection System
• Thyristor Controlled Reactors (TCR)
• Advanced Thyristor Valve (ATV)
• Thyristor Switched Capacitors (TSC)
• Harmonic Filter
• Power Electronic Device
• Reactor
• Capacitor bank
• Other Components
Applications Covered:
• Metallurgy
• Electric Utility
• Renewable
• Railway
• Mining
• Industrial
• Oil & Gas
• Steel & Metal
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Static VAR Compensator Market, By Type
5.1 Introduction
5.2 Magnetically Controlled Reactor (MCR) Based SVC
5.3 Thyristor Based SVC
6 Global Static VAR Compensator Market, By Component
6.1 Introduction
6.2 GIS Switchgear
6.3 Phase Shifting Transformer
6.4 Control Protection System
6.5 Thyristor Controlled Reactors (TCR)
6.6 Advanced Thyristor Valve (ATV)
6.7 Thyristor Switched Capacitors (TSC)
6.8 Harmonic Filter
6.9 Power Electronic Device
6.10 Reactor
6.11 Capacitor bank
6.12 Other Components
7 Global Static VAR Compensator Market, By Application
7.1 Introduction
7.2 Metallurgy
7.3 Electric Utility
7.4 Renewable
7.4.1 Wind Power Grid
7.4.1.1 On Shore
7.4.1.2 Off Shore
7.4.2 Solar Form
7.5 Railway
7.6 Mining
7.7 Industrial
7.8 Oil & Gas
7.9 Steel & Metal
7.10 Other Applications
8 Global Static VAR Compensator Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Toshiba Corporation
10.2 NR Electric Co Ltd
10.3 Nidec Industrial Solutions
10.4 Nidec ASI S.p.A
10.5 Hitachi Energy
10.6 General Electric
10.7 ABB
10.8 American Superconductor
10.9 Jema Energy
10.10 Maschinenfabrik Reinhausen GmbH
10.11 Mitsubishi Electric
List of Tables
1 Global Static VAR Compensator Market Outlook, By Region (2020-2028) ($MN)
2 Global Static VAR Compensator Market Outlook, By Type (2020-2028) ($MN)
3 Global Static VAR Compensator Market Outlook, By Magnetically Controlled Reactor (MCR) Based SVC (2020-2028) ($MN)
4 Global Static VAR Compensator Market Outlook, By Thyristor Based SVC (2020-2028) ($MN)
5 Global Static VAR Compensator Market Outlook, By Component (2020-2028) ($MN)
6 Global Static VAR Compensator Market Outlook, By GIS Switchgear (2020-2028) ($MN)
7 Global Static VAR Compensator Market Outlook, By Phase Shifting Transformer (2020-2028) ($MN)
8 Global Static VAR Compensator Market Outlook, By Control Protection System (2020-2028) ($MN)
9 Global Static VAR Compensator Market Outlook, By Thyristor Controlled Reactors (TCR) (2020-2028) ($MN)
10 Global Static VAR Compensator Market Outlook, By Advanced Thyristor Valve (ATV) (2020-2028) ($MN)
11 Global Static VAR Compensator Market Outlook, By Thyristor Switched Capacitors (TSC) (2020-2028) ($MN)
12 Global Static VAR Compensator Market Outlook, By Harmonic Filter (2020-2028) ($MN)
13 Global Static VAR Compensator Market Outlook, By Power Electronic Device (2020-2028) ($MN)
14 Global Static VAR Compensator Market Outlook, By Reactor (2020-2028) ($MN)
15 Global Static VAR Compensator Market Outlook, By Capacitor bank (2020-2028) ($MN)
16 Global Static VAR Compensator Market Outlook, By Other Components (2020-2028) ($MN)
17 "Global Static VAR Compensator Market Outlook, By Application (2020-2028) ($MN)
18 Global Static VAR Compensator Market Outlook, By Metallurgy (2020-2028) ($MN)
19 Global Static VAR Compensator Market Outlook, By Electric Utility (2020-2028) ($MN)
20 Global Static VAR Compensator Market Outlook, By Renewable (2020-2028) ($MN)
21 Global Static VAR Compensator Market Outlook, By Wind Power Grid (2020-2028) ($MN)
22 Global Static VAR Compensator Market Outlook, By Solar Form (2020-2028) ($MN)
23 Global Static VAR Compensator Market Outlook, By Railway (2020-2028) ($MN)
24 Global Static VAR Compensator Market Outlook, By Mining (2020-2028) ($MN)
25 Global Static VAR Compensator Market Outlook, By Industrial (2020-2028) ($MN)
26 Global Static VAR Compensator Market Outlook, By Oil & Gas (2020-2028) ($MN)
27 Global Static VAR Compensator Market Outlook, By Steel & Metal (2020-2028) ($MN)
28 Global Static VAR Compensator Market Outlook, By Other Applications (2020-2028) ($MN)
29 North America Static VAR Compensator Market Outlook, By Country (2020-2028) ($MN)
30 North America Static VAR Compensator Market Outlook, By Type (2020-2028) ($MN)
31 North America Static VAR Compensator Market Outlook, By Magnetically Controlled Reactor (MCR) Based SVC (2020-2028) ($MN)
32 North America Static VAR Compensator Market Outlook, By Thyristor Based SVC (2020-2028) ($MN)
33 North America Static VAR Compensator Market Outlook, By Component (2020-2028) ($MN)
34 North America Static VAR Compensator Market Outlook, By GIS Switchgear (2020-2028) ($MN)
35 North America Static VAR Compensator Market Outlook, By Phase Shifting Transformer (2020-2028) ($MN)
36 North America Static VAR Compensator Market Outlook, By Control Protection System (2020-2028) ($MN)
37 North America Static VAR Compensator Market Outlook, By Thyristor Controlled Reactors (TCR) (2020-2028) ($MN)
38 North America Static VAR Compensator Market Outlook, By Advanced Thyristor Valve (ATV) (2020-2028) ($MN)
39 North America Static VAR Compensator Market Outlook, By Thyristor Switched Capacitors (TSC) (2020-2028) ($MN)
40 North America Static VAR Compensator Market Outlook, By Harmonic Filter (2020-2028) ($MN)
41 North America Static VAR Compensator Market Outlook, By Power Electronic Device (2020-2028) ($MN)
42 North America Static VAR Compensator Market Outlook, By Reactor (2020-2028) ($MN)
43 North America Static VAR Compensator Market Outlook, By Capacitor bank (2020-2028) ($MN)
44 North America Static VAR Compensator Market Outlook, By Other Components (2020-2028) ($MN)
45 "North America Static VAR Compensator Market Outlook, By Application
(2020-2028) ($MN)"
46 North America Static VAR Compensator Market Outlook, By Metallurgy (2020-2028) ($MN)
47 North America Static VAR Compensator Market Outlook, By Electric Utility (2020-2028) ($MN)
48 North America Static VAR Compensator Market Outlook, By Renewable (2020-2028) ($MN)
49 North America Static VAR Compensator Market Outlook, By Wind Power Grid (2020-2028) ($MN)
50 North America Static VAR Compensator Market Outlook, By Solar Form (2020-2028) ($MN)
51 North America Static VAR Compensator Market Outlook, By Railway (2020-2028) ($MN)
52 North America Static VAR Compensator Market Outlook, By Mining (2020-2028) ($MN)
53 North America Static VAR Compensator Market Outlook, By Industrial (2020-2028) ($MN)
54 North America Static VAR Compensator Market Outlook, By Oil & Gas (2020-2028) ($MN)
55 North America Static VAR Compensator Market Outlook, By Steel & Metal (2020-2028) ($MN)
56 North America Static VAR Compensator Market Outlook, By Other Applications (2020-2028) ($MN)
57 Europe Static VAR Compensator Market Outlook, By Country (2020-2028) ($MN)
58 Europe Static VAR Compensator Market Outlook, By Type (2020-2028) ($MN)
59 Europe Static VAR Compensator Market Outlook, By Magnetically Controlled Reactor (MCR) Based SVC (2020-2028) ($MN)
60 Europe Static VAR Compensator Market Outlook, By Thyristor Based SVC (2020-2028) ($MN)
61 Europe Static VAR Compensator Market Outlook, By Component (2020-2028) ($MN)
62 Europe Static VAR Compensator Market Outlook, By GIS Switchgear (2020-2028) ($MN)
63 Europe Static VAR Compensator Market Outlook, By Phase Shifting Transformer (2020-2028) ($MN)
64 Europe Static VAR Compensator Market Outlook, By Control Protection System (2020-2028) ($MN)
65 Europe Static VAR Compensator Market Outlook, By Thyristor Controlled Reactors (TCR) (2020-2028) ($MN)
66 Europe Static VAR Compensator Market Outlook, By Advanced Thyristor Valve (ATV) (2020-2028) ($MN)
67 Europe Static VAR Compensator Market Outlook, By Thyristor Switched Capacitors (TSC) (2020-2028) ($MN)
68 Europe Static VAR Compensator Market Outlook, By Harmonic Filter (2020-2028) ($MN)
69 Europe Static VAR Compensator Market Outlook, By Power Electronic Device (2020-2028) ($MN)
70 Europe Static VAR Compensator Market Outlook, By Reactor (2020-2028) ($MN)
71 Europe Static VAR Compensator Market Outlook, By Capacitor bank (2020-2028) ($MN)
72 Europe Static VAR Compensator Market Outlook, By Other Components (2020-2028) ($MN)
73 "Europe Static VAR Compensator Market Outlook, By Application
(2020-2028) ($MN)"
74 Europe Static VAR Compensator Market Outlook, By Metallurgy (2020-2028) ($MN)
75 Europe Static VAR Compensator Market Outlook, By Electric Utility (2020-2028) ($MN)
76 Europe Static VAR Compensator Market Outlook, By Renewable (2020-2028) ($MN)
77 Europe Static VAR Compensator Market Outlook, By Wind Power Grid (2020-2028) ($MN)
78 Europe Static VAR Compensator Market Outlook, By Solar Form (2020-2028) ($MN)
79 Europe Static VAR Compensator Market Outlook, By Railway (2020-2028) ($MN)
80 Europe Static VAR Compensator Market Outlook, By Mining (2020-2028) ($MN)
81 Europe Static VAR Compensator Market Outlook, By Industrial (2020-2028) ($MN)
82 Europe Static VAR Compensator Market Outlook, By Oil & Gas (2020-2028) ($MN)
83 Europe Static VAR Compensator Market Outlook, By Steel & Metal (2020-2028) ($MN)
84 Europe Static VAR Compensator Market Outlook, By Other Applications (2020-2028) ($MN)
85 Asia Pacific Static VAR Compensator Market Outlook, By Country (2020-2028) ($MN)
86 Asia Pacific Static VAR Compensator Market Outlook, By Type (2020-2028) ($MN)
87 Asia Pacific Static VAR Compensator Market Outlook, By Magnetically Controlled Reactor (MCR) Based SVC (2020-2028) ($MN)
88 Asia Pacific Static VAR Compensator Market Outlook, By Thyristor Based SVC (2020-2028) ($MN)
89 Asia Pacific Static VAR Compensator Market Outlook, By Component (2020-2028) ($MN)
90 Asia Pacific Static VAR Compensator Market Outlook, By GIS Switchgear (2020-2028) ($MN)
91 Asia Pacific Static VAR Compensator Market Outlook, By Phase Shifting Transformer (2020-2028) ($MN)
92 Asia Pacific Static VAR Compensator Market Outlook, By Control Protection System (2020-2028) ($MN)
93 Asia Pacific Static VAR Compensator Market Outlook, By Thyristor Controlled Reactors (TCR) (2020-2028) ($MN)
94 Asia Pacific Static VAR Compensator Market Outlook, By Advanced Thyristor Valve (ATV) (2020-2028) ($MN)
95 Asia Pacific Static VAR Compensator Market Outlook, By Thyristor Switched Capacitors (TSC) (2020-2028) ($MN)
96 Asia Pacific Static VAR Compensator Market Outlook, By Harmonic Filter (2020-2028) ($MN)
97 Asia Pacific Static VAR Compensator Market Outlook, By Power Electronic Device (2020-2028) ($MN)
98 Asia Pacific Static VAR Compensator Market Outlook, By Reactor (2020-2028) ($MN)
99 Asia Pacific Static VAR Compensator Market Outlook, By Capacitor bank (2020-2028) ($MN)
100 Asia Pacific Static VAR Compensator Market Outlook, By Other Components (2020-2028) ($MN)
101 "Asia Pacific Static VAR Compensator Market Outlook, By Application
(2020-2028) ($MN)"
102 Asia Pacific Static VAR Compensator Market Outlook, By Metallurgy (2020-2028) ($MN)
103 Asia Pacific Static VAR Compensator Market Outlook, By Electric Utility (2020-2028) ($MN)
104 Asia Pacific Static VAR Compensator Market Outlook, By Renewable (2020-2028) ($MN)
105 Asia Pacific Static VAR Compensator Market Outlook, By Wind Power Grid (2020-2028) ($MN)
106 Asia Pacific Static VAR Compensator Market Outlook, By Solar Form (2020-2028) ($MN)
107 Asia Pacific Static VAR Compensator Market Outlook, By Railway (2020-2028) ($MN)
108 Asia Pacific Static VAR Compensator Market Outlook, By Mining (2020-2028) ($MN)
109 Asia Pacific Static VAR Compensator Market Outlook, By Industrial (2020-2028) ($MN)
110 Asia Pacific Static VAR Compensator Market Outlook, By Oil & Gas (2020-2028) ($MN)
111 Asia Pacific Static VAR Compensator Market Outlook, By Steel & Metal (2020-2028) ($MN)
112 Asia Pacific Static VAR Compensator Market Outlook, By Other Applications (2020-2028) ($MN)
113 South America Static VAR Compensator Market Outlook, By Country (2020-2028) ($MN)
114 South America Static VAR Compensator Market Outlook, By Type (2020-2028) ($MN)
115 South America Static VAR Compensator Market Outlook, By Magnetically Controlled Reactor (MCR) Based SVC (2020-2028) ($MN)
116 South America Static VAR Compensator Market Outlook, By Thyristor Based SVC (2020-2028) ($MN)
117 South America Static VAR Compensator Market Outlook, By Component (2020-2028) ($MN)
118 South America Static VAR Compensator Market Outlook, By GIS Switchgear (2020-2028) ($MN)
119 South America Static VAR Compensator Market Outlook, By Phase Shifting Transformer (2020-2028) ($MN)
120 South America Static VAR Compensator Market Outlook, By Control Protection System (2020-2028) ($MN)
121 South America Static VAR Compensator Market Outlook, By Thyristor Controlled Reactors (TCR) (2020-2028) ($MN)
122 South America Static VAR Compensator Market Outlook, By Advanced Thyristor Valve (ATV) (2020-2028) ($MN)
123 South America Static VAR Compensator Market Outlook, By Thyristor Switched Capacitors (TSC) (2020-2028) ($MN)
124 South America Static VAR Compensator Market Outlook, By Harmonic Filter (2020-2028) ($MN)
125 South America Static VAR Compensator Market Outlook, By Power Electronic Device (2020-2028) ($MN)
126 South America Static VAR Compensator Market Outlook, By Reactor (2020-2028) ($MN)
127 South America Static VAR Compensator Market Outlook, By Capacitor bank (2020-2028) ($MN)
128 South America Static VAR Compensator Market Outlook, By Other Components (2020-2028) ($MN)
129 "South America Static VAR Compensator Market Outlook, By Application
(2020-2028) ($MN)"
130 South America Static VAR Compensator Market Outlook, By Metallurgy (2020-2028) ($MN)
131 South America Static VAR Compensator Market Outlook, By Electric Utility (2020-2028) ($MN)
132 South America Static VAR Compensator Market Outlook, By Renewable (2020-2028) ($MN)
133 South America Static VAR Compensator Market Outlook, By Wind Power Grid (2020-2028) ($MN)
134 South America Static VAR Compensator Market Outlook, By Solar Form (2020-2028) ($MN)
135 South America Static VAR Compensator Market Outlook, By Railway (2020-2028) ($MN)
136 South America Static VAR Compensator Market Outlook, By Mining (2020-2028) ($MN)
137 South America Static VAR Compensator Market Outlook, By Industrial (2020-2028) ($MN)
138 South America Static VAR Compensator Market Outlook, By Oil & Gas (2020-2028) ($MN)
139 South America Static VAR Compensator Market Outlook, By Steel & Metal (2020-2028) ($MN)
140 South America Static VAR Compensator Market Outlook, By Other Applications (2020-2028) ($MN)
141 Middle East & Africa Static VAR Compensator Market Outlook, By Country (2020-2028) ($MN)
142 Middle East & Africa Static VAR Compensator Market Outlook, By Type (2020-2028) ($MN)
143 Middle East & Africa Static VAR Compensator Market Outlook, By Magnetically Controlled Reactor (MCR) Based SVC (2020-2028) ($MN)
144 Middle East & Africa Static VAR Compensator Market Outlook, By Thyristor Based SVC (2020-2028) ($MN)
145 Middle East & Africa Static VAR Compensator Market Outlook, By Component (2020-2028) ($MN)
146 Middle East & Africa Static VAR Compensator Market Outlook, By GIS Switchgear (2020-2028) ($MN)
147 Middle East & Africa Static VAR Compensator Market Outlook, By Phase Shifting Transformer (2020-2028) ($MN)
148 Middle East & Africa Static VAR Compensator Market Outlook, By Control Protection System (2020-2028) ($MN)
149 Middle East & Africa Static VAR Compensator Market Outlook, By Thyristor Controlled Reactors (TCR) (2020-2028) ($MN)
150 Middle East & Africa Static VAR Compensator Market Outlook, By Advanced Thyristor Valve (ATV) (2020-2028) ($MN)
151 Middle East & Africa Static VAR Compensator Market Outlook, By Thyristor Switched Capacitors (TSC) (2020-2028) ($MN)
152 Middle East & Africa Static VAR Compensator Market Outlook, By Harmonic Filter (2020-2028) ($MN)
153 Middle East & Africa Static VAR Compensator Market Outlook, By Power Electronic Device (2020-2028) ($MN)
154 Middle East & Africa Static VAR Compensator Market Outlook, By Reactor (2020-2028) ($MN)
155 Middle East & Africa Static VAR Compensator Market Outlook, By Capacitor bank (2020-2028) ($MN)
156 Middle East & Africa Static VAR Compensator Market Outlook, By Other Components (2020-2028) ($MN)
157 "Middle East & Africa Static VAR Compensator Market Outlook, By Application
(2020-2028) ($MN)"
158 Middle East & Africa Static VAR Compensator Market Outlook, By Metallurgy (2020-2028) ($MN)
159 Middle East & Africa Static VAR Compensator Market Outlook, By Electric Utility (2020-2028) ($MN)
160 Middle East & Africa Static VAR Compensator Market Outlook, By Renewable (2020-2028) ($MN)
161 Middle East & Africa Static VAR Compensator Market Outlook, By Wind Power Grid (2020-2028) ($MN)
162 Middle East & Africa Static VAR Compensator Market Outlook, By Solar Form (2020-2028) ($MN)
163 Middle East & Africa Static VAR Compensator Market Outlook, By Railway (2020-2028) ($MN)
164 Middle East & Africa Static VAR Compensator Market Outlook, By Mining (2020-2028) ($MN)
165 Middle East & Africa Static VAR Compensator Market Outlook, By Industrial (2020-2028) ($MN)
166 Middle East & Africa Static VAR Compensator Market Outlook, By Oil & Gas (2020-2028) ($MN)
167 Middle East & Africa Static VAR Compensator Market Outlook, By Steel & Metal (2020-2028) ($MN)
168 Middle East & Africa Static VAR Compensator Market Outlook, By Other Applications (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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