The global static VAR generator market is projected to grow remarkably owing to the persistent demand for stable power supply from the consumers. Fortune Business Insights, in an upcoming report, titled, “Static VAR Generator“ Market Size, Share & Industry Analysis, By Type (Thyristor Based, MCR Based), By End-User (Electric Utility, Renewable, Railway, Oil & Gas, Steel and Mining Industry, Others) and Regional Forecast, 2019-2026.” The report further mentions that there is a rising trend of generating renewable sources of energy across the world. Apart from that, several utility companies are investing huge sums for improving the distribution and transmission of power as well as for upgrading the pre-existing power distribution system infrastructure. All these factors are likely to augment the static VAR generator market growth during the forecast period.
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Highlights of the Report
- In-depth information about the static VAR generator market trends, growth drivers, obstacles, opportunities, and other related challenges.
- An elaborate analysis of the competitive landscape, such as new product launches, mergers and acquisitions, new agreements, and contracts.
- Analysis of every possible segment present in the market.
Fortune Business Insights lists out some of the most prominent companies present in the static VAR generator market. They are as follows:
- Delta Power Solutions
- S&C Electric Company
- Taikai Power Electronic Co. Ltd.
- NR Electric Co. Ltd.
- China XD Group
- GE Grid Solutions
- Galt Electric
- Rongxin Huiko Electric Technology Co. Ltd.
- Mitsubishi Electric
- Captech Pty Ltd
- CG Power and Industrial Solutions Limited
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Key Market Driver – Upgradation of aging transmission and distribution infrastructure
Key Market Restraint – High operating cost and lack awareness
Europe, on the other hand, possesses various stringent rules and regulations for controlling pollution. Besides, the countries belonging to this region are promoting the utilization of energy-efficient devices to protect the environment. Renowned companies are also installing top-quality power distribution systems. These factors would increase the static VAR generator market size in this region.
In Asia Pacific, developing economies, such as China and India, are at present, housing numerous industry giants who are creating many growth opportunities. The governments of these countries are also taking several initiatives to invest rapidly in the power distribution equipment and expand the electrification projects for transmitting power in a hassle-free manner. It is hence, rising the demand for static VAR generators in this region.
Key Segmental Overview:
1. By Type
- Thyristor Based
- MCR Based
2. By End-User
- Electric Utility
- Oil & Gas
- Steel and Mining Industry
3. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Key Players Focus on Bagging Contracts from Other Companies to Gain Robust Position in Market
The market includes many large, small, and medium organizations. They are mainly focusing on obtaining new agreements and contracts from other renowned companies to gain the maximum static VAR generator market share and gain a robust position. Below are two of the latest key industry developments:
- July 2018: ABB, a multinational automation company headquartered in Switzerland, announced that it has successfully bagged a contract from Ørsted, a power company based in Denmark, to provide a wide range of technologies that would aid in transmitting and integrating renewable wind energy from Hornsea Project Two. The contract is worth over USD 150 million. Hornsea is considered to be the world’s largest offshore wind farm. ABB is set to supply its unique SVC light technology equipped with state-of-the-art Ability MACH control systems, harmonic filters, reactors, transformers, and high voltage gas-insulated switchgear (GIS).
- June 2018: CG Power, a marketer, designer, and manufacturer of products related to power distribution, transmission, and generation, based in Mumbai, declared that it has gained a huge order worth Rs 319 crore from the Indian Railways. CG will supply underslung electrics for diesel-electric tower car (DETC) as they are required in large quantities for the mammoth track electrification drive that is undertaken by Indian Railways in the country. For this, more than 1000 DETCs will be needed for electrification, inspection, and maintenance shortly.
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Major Table of Content For Static VAR Generator Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Static VAR Generator Market Analysis, Insights and Forecast, 2026
- North America Static VAR Generator Market Analysis, Insights and Forecast, 2026
- Europe Static VAR Generator Market Analysis, Insights and Forecast, 2026
- Asia Pacific Static VAR Generator Market Analysis, Insights and Forecast, 2026
- Middle East and Africa Static VAR Generator Market Analysis, Insights and Forecast, 2026
- Latin America Static VAR Generator Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
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