Global Static Synchronous Compensator (STATCOM) Market was valued at USD 0.3 Billion in 2022 and is projected to reach USD 0.5 Billion by 2030, growing at a CAGR of 7.8% from 2024 to 2030.
The Static Synchronous Compensator (STATCOM) market is witnessing rapid growth, driven by increasing demand for efficient power transmission and distribution systems. STATCOM, a crucial component in reactive power compensation and voltage stability, has become essential in modern power grids. With the surge in renewable energy integration, the need for advanced grid stabilization solutions like STATCOM has skyrocketed.
Global STATCOM market valuation surpassed $500 million in 2022 and is projected to grow at a CAGR of over 6% by 2030. This growth is fueled by rising electricity consumption, grid modernization efforts, and the integration of renewable energy sources such as wind and solar. Asia-Pacific dominates the market, with countries like China and India investing heavily in power infrastructure.
Key players in the STATCOM market include ABB, Siemens, Mitsubishi Electric, and GE Grid Solutions. These companies are continuously innovating to offer compact, efficient, and cost-effective STATCOM solutions. The market is also witnessing increased competition from regional players focusing on customized solutions for specific grid requirements.
Consumers are increasingly looking for reliable, energy-efficient solutions to minimize power outages and enhance grid performance. STATCOM systems offer quick response times and high operational flexibility, making them the preferred choice for utilities and industries alike.
Emerging trends in the market include the development of modular STATCOM units and hybrid systems that combine STATCOM with other power quality solutions. Additionally, advancements in digital technologies and AI are enhancing the monitoring and control capabilities of STATCOM systems, further boosting their adoption.
With the growing emphasis on sustainable energy and smart grids, the STATCOM market is poised for significant expansion in the coming years. Stakeholders are focusing on R&D to improve efficiency and reduce costs, making these systems more accessible to a broader range of applications.
Get an In-Depth Research Analysis of the Global Static Synchronous Compensator (STATCOM) Market Size And Forecast [2025-2032]
ABB
Siemens
Rongxin
Hitachi
Mitsubishi Electric
S&C Electric
GE
Sieyuan Electric
AMSC
Ingeteam
Comsys AB
Beijing In-power Electric Co. Ltd
Merus Power
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Static Synchronous Compensator (STATCOM) Market
Renewable Energy
Electric Utilities
Industrial & Manufacturing
Others
Based on Types the Market is categorized into Below types that held the largest Static Synchronous Compensator (STATCOM) market share In 2023.
Low Voltage STATCOM
High Voltage STATCOM
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Static Synchronous Compensator (STATCOM) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Static Synchronous Compensator (STATCOM) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Static Synchronous Compensator (STATCOM) Market, By Type
6. Global Static Synchronous Compensator (STATCOM) Market, By Application
7. Global Static Synchronous Compensator (STATCOM) Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Static Synchronous Compensator (STATCOM) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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