PUNE, India, January 29, 2016 /PRNewswire/ --
According to the new market research report "Static VAR Compensator (SVC) Market by Type (Thyristor Based, MCR-Based), by Component, by Vertical (Electric Utility, Renewable- Wind Power & Solar Farm, Railway, Industrial- Steel & Mining and Oil & Gas), and Geography - Global Forecast to 2020", published by MarketsandMarkets, the market is estimated to reach USD 807.7 Million by 2020, at a CAGR of 3.8% between 2015 and 2020.
Browse 74 market Tables and 68 Figures spread through 145 Pages and in-depth TOC on "Static VAR Compensator (SVC) Market".
Early buyers will receive 10% customization on this report.
Factors such as increase in demand for renewable sources of energy, power quality & network reliability requirements, and up gradation and replacement of aging power infrastructure in developed geographical regions are some of the key drivers for the SVC market. Moreover, increase in use as high voltage boosters in railways provides huge opportunities for further growth of this market.
MCR-based solution is expected to lead the SVC market:
The MCR-based SVC market is expected to grow rapidly during the forecast period. The key reason behind this growth is owing to the presence of features such as high reliability, small dimension, its ability to sustain instantaneous voltage to avoid generator breaking, more capability to transfer power, low harmonics and faster response time, as compared to thyristor-based SVC.
Renewable vertical is expected to grow at the highest CAGR between 2015 and 2020
The key reason behind a sharp growth in the renewable SVC market is because of the increase in the number of investments made by investors in renewable sector in countries in the Asia-Pacific, such as India, Japan, and China, and also in Africa. With the increase in investments, large numbers of plants are expected to be set up, which require SVC solutions for power transmission and distribution, which is directly expected to impact the growth of the overall SVC market.
APAC is expected to grow at a high CAGR during forecast period
The market in Americas accounted for the highest share for the static VAR compensator in 2014, whereas APAC is expected to grow at the highest CAGR between 2015 and 2020. This growth in APAC can be attributed to the continuous demand for electricity and capacity addition across existing infrastructure in rapidly growing economies such as China and India, thereby playing a major role in the adoption of SVC in this region.
Major players operating in this market are Rongxin Power Electronic Co., Ltd. (China), ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric (U.S.), Eaton Corp plc (Ireland), American Electric Power (U.S.), Hyosung (South Korea), NR Electric Co. Ltd. (China), Mitsubishi Electric Corp. (Japan), and American Superconductor Corp. (U.S.).
Ask PDF Brochure @ http://www.marketsandmarkets.com/pdfdownload.asp?id=96574756
This research report categorizes the global static VAR compensator (SVC) market based on type, component, vertical, and region. This report describes the drivers, restraints, opportunities, and challenges with respect to the SVC market. This report gives a detailed view of the market across the four geographies, namely, the Americas, Europe, APAC, and Rest of the World (RoW), which includes Middle East and Africa. The Porter's Five Forces analysis has been included in the report with a description of each of its forces and their respective impact on the SVC market.
Browse Related Reports
Flexible AC Transmission Systems (FACTS) Market by Compensation Type (Shunt, Series & Combined), Component, Application, Verticals (Electric Utilities, Renewables, Railways, Industrial, and Oil & Gas), and by Geography - Global Forecast to 2020
HVDC Transmission Market by Technology (LCC & VSC), Configuration (Back to Back, Monopolar, Bipolar, Multi-Terminal), Power Rating (Below 500 MW, 1001 MW-1500, 1501-2000 MW & Above 2000 MW), Application, Component & Geography - Forecast Analysis to 2014 - 2020
MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Visit MarketsandMarkets Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets