Static Var Compensator Market
The market for Static Var Compensator was estimated at $1.7 billion in 2024; it is anticipated to increase to $2.2 billion by 2030, with projections indicating growth to around $2.8 billion by 2035.
Global Static Var Compensator Market Outlook
Revenue, 2024
Forecast, 2034
CAGR, 2025 - 2034
The Static Var Compensator industry revenue is expected to be around $1.7 billion in 2025 and expected to showcase growth with 4.7% CAGR between 2025 and 2034. The importance of the Static Var Compensator in today's power industry is immense. Cannot be overlooked. The device plays a role in regulating power factor mitigating voltage fluctuations removing harmonic distortion and improving the stability of power systems. These functions make it a central component in industrial, distribution, and transmission settings within the power sector. The continued importance of the SVC in sectors, like wind energy production and railway operations where maintaining power quality is essential is fuelin its market growth. Its role in incorporating energy sources into the primary power grid and in improving power factor in industrial settings adds to its importance, in today's context.
The importance of maintaining stability is on the rise as the Static Var Compactor plays a more significant role in power systems nowadays It is commonly found in power grid installations and aids in enhancing power quality through immediate reactive power compensation The Static Var Compactor is widely used in various sectors including industrial setups wind farms and conventional power plants Its ability to boost power system efficiency ensure the dependable operation of power grids and enhance transmission capabilities has led to a surge in its popularity, across the global market .
Market Key Insights
- The Static Var Compensator market is projected to grow from $1.7 billion in 2024 to $2.6 billion in 2034. This represents a CAGR of 4.7%, reflecting rising demand across Renewable Energy Integration, Electric Arc Furnace Operation and Grid Stabilization.
- ABB Power Systems, Siemens AG, Mitsubishi Electric Corporation are among the leading players in this market, shaping its competitive landscape.
- U.S. and China are the top markets within the Static Var Compensator market and are expected to observe the growth CAGR of 3.3% to 4.3% between 2024 and 2030.
- Emerging markets including India, Brazil and South Africa are expected to observe highest growth with CAGR ranging between 5.2% to 6.6%.
- Transition like Transition to Renewable Energy has greater influence in United States and China market's value chain; and is expected to add $63 million of additional value to Static Var Compensator industry revenue by 2030.
- The Static Var Compensator market is set to add $1.0 billion between 2024 and 2034, with manufacturer targeting Oil & Gas & Wind Energy End-Use Industry projected to gain a larger market share.
- With Growing energy consumption, and Technological innovation and infrastructure expansion, Static Var Compensator market to expand 58% between 2024 and 2034.
