Japan IGBT Static Synchronous Compensator Market was valued at USD 0.4 Billion in 2022 and is projected to reach USD 0.7 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The Japanese market for IGBT (Insulated Gate Bipolar Transistor) Static Synchronous Compensators (STATCOMs) is experiencing significant growth, driven by the nation's commitment to renewable energy integration and grid stability. In 2023, Toshiba Energy Systems & Solutions Corporation secured an order from Tohoku Electric Power Network Co., Inc. for a STATCOM with a rated capacity of ±800 MVA, one of the world's largest installations. This development underscores the critical role of STATCOMs in enhancing grid stability amid increasing renewable energy sources. citeturn0search0
STATCOMs are essential for regulating voltage and maintaining power quality in electrical grids. They provide dynamic reactive power compensation, which is vital for stabilizing voltage levels, especially during fluctuations caused by renewable energy generation. The demand for STATCOMs in Japan is primarily driven by the following industrial requirements:
Renewable Energy Integration: As Japan expands its renewable energy capacity, particularly solar and wind, the variability of these sources necessitates advanced grid support systems like STATCOMs to ensure consistent voltage levels and reliable power delivery.
Grid Modernization: Upgrading the existing grid infrastructure to accommodate decentralized and fluctuating power inputs requires flexible and responsive voltage regulation solutions, which STATCOMs effectively provide.
Enhanced Grid Stability: In regions with high renewable energy penetration, maintaining grid stability during transmission line faults or disturbances is crucial. STATCOMs swiftly respond to voltage dips and support system recovery, ensuring uninterrupted power supply.
The market is segmented based on type and application. The primary types of STATCOMs are:
Low Voltage STATCOMs: Suitable for distribution networks, these systems manage voltage fluctuations in urban and industrial areas with high load variations.
High Voltage STATCOMs: Deployed in transmission networks, they support long-distance power transmission and maintain voltage stability across vast areas.
Applications of STATCOMs span various sectors, including:
Renewable Energy: Ensuring voltage stability and power quality in grids with significant renewable energy contributions.
Electric Utilities: Enhancing the reliability and efficiency of power transmission and distribution networks.
Industrial and Manufacturing: Supporting facilities with high power demands and sensitive equipment requiring stable voltage conditions.
In conclusion, the Japanese IGBT STATCOM market is poised for substantial growth, propelled by the need to modernize the power grid and integrate renewable energy sources effectively. Industries are increasingly adopting STATCOMs to meet the challenges of voltage regulation and grid stability, ensuring a resilient and reliable power infrastructure for the future.
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ABB
Siemens
Rongxin
Sieyuan Electric
Hitachi
MitsubishiElectric
S&C Electric
GE
AMSC
Ingeteam
Beijing In-power Electric Co. Ltd
Comsys AB
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 Japan IGBT Static Synchronous Compensator Market
Voltage Source Converter (VSC)
Current Source Converter (CSC)
Voltage Regulation
Harmonic Filtering
Active Power Filtering
Grid Stability Enhancement
IGBT Modules
Capacitors
Inductors
Control Systems
Power Generation
Industrial Automation
Renewable Energy
Transportation
Low Power (< 1 MVA)
Medium Power (1-10 MVA)
High Power (> 10 MVA)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the Japan IGBT Static Synchronous Compensator 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. Japan IGBT Static Synchronous Compensator Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Japan IGBT Static Synchronous Compensator Market, By Type
6. Japan IGBT Static Synchronous Compensator Market, By Application
7. Japan IGBT Static Synchronous Compensator Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. Japan IGBT Static Synchronous Compensator Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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