United States Static Var Generator (SVG) 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 7.2% from 2024 to 2030.
The US Static Var Generator (SVG) market is experiencing rapid growth as industries strive for more efficient and reliable power systems. SVGs play a pivotal role in power quality improvement, offering dynamic voltage regulation and reactive power compensation in real-time. The demand for these systems is growing due to the increasing need for better energy efficiency, grid stability, and the integration of renewable energy sources. From industrial plants to renewable energy farms, SVGs are becoming indispensable for modern power management solutions.
The key industries driving the demand for Static Var Generators (SVG) include utilities, manufacturing, renewable energy, and data centers. Utilities rely on SVGs for voltage control, which helps to stabilize grids, reduce power loss, and ensure a consistent energy supply. The manufacturing industry benefits from SVGs as they prevent equipment malfunctions caused by poor power quality, increasing productivity and equipment lifespan. Data centers, which are highly sensitive to power fluctuations, use SVGs to maintain smooth operations and prevent costly downtime. Similarly, the renewable energy sector, particularly solar and wind farms, integrates SVGs to manage the variability of renewable generation and optimize power flow.
Several factors contribute to the growing need for Static Var Generators (SVG). First, the increasing adoption of renewable energy technologies, which require efficient voltage regulation and reactive power support, creates a demand for SVGs. The integration of decentralized power sources into grids has made voltage control more challenging, highlighting the importance of real-time solutions like SVGs. Additionally, industries are constantly working to reduce operational costs and increase energy efficiency, making the power quality benefits of SVGs a highly attractive investment.
The future of the US Static Var Generator (SVG) market looks promising. As more industries focus on smart grid technologies and the optimization of energy systems, the need for robust, real-time power quality management will continue to rise. Furthermore, with the ongoing development of energy-efficient technologies, SVGs will likely see expanded use in a wide range of sectors, enhancing grid reliability and performance.
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ABB
Siemens
Rongxin
Sieyuan Electric
Hitachi
Mitsubishi Electric
S&C Electric
GE
AMSC
Ingeteam
Beijing In-power Electric Co. Ltd
Comsys AB
Merus Power
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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 US Static Var Generator (SVG) Market
Thyristor-Controlled Series Capacitor (TCSC)
Static Synchronous Compensator (STATCOM)
Dynamic Voltage Restorer (DVR)
Flexible AC Transmission System (FACTS)
Voltage Source Converter (VSC)
Renewable Energy Integration
Industrial Applications
Commercial Buildings
Power Quality Improvement
Transmission and Distribution Networks
Utility Providers
Manufacturing Industry
Infrastructure Sector
Telecommunications
Agriculture
Voltage Control
Reactive Power Control
Frequency Control
Current Control
Power Factor Correction
Power Electronics
Control Systems
Sensors and Measurement Devices
Transformers and Inductors
Cooling Systems
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, 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 US Static Var Generator (SVG) 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. US Static Var Generator (SVG) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Static Var Generator (SVG) Market, By Type
6. US Static Var Generator (SVG) Market, By Application
7. US Static Var Generator (SVG) Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Static Var Generator (SVG) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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