The Market Reports

Synopsis

The global market for TCR Static Var Compensator (SVC) was estimated to be worth US$ 1025 million in 2024 and is forecast to a readjusted size of US$ 1668 million by 2031 with a CAGR of 6.1% during the forecast period 2025-2031.

A static VAR compensator (SVC) is a set of electrical devices for providing fast-acting reactive power on high-voltage electricity transmission networks. SVCs are part of the Flexible AC transmission system device family, regulating voltage, power factor, harmonics and stabilizing the system. A static VAR compensator has no significant moving parts (other than internal switchgear). Prior to the invention of the SVC, power factor compensation was the preserve of large rotating machines such as synchronous condensers or switched capacitor banks.

A TCR Static Var Compensator (SVC) is a type of power electronic device used in electrical power systems to provide dynamic voltage regulation and reactive power compensation. It consists of a Thyristor-Controlled Reactor (TCR) and other components, which work together to control the reactive power injected or absorbed from the system. The TCR is controlled by thyristors, allowing for rapid adjustments in response to changes in the system’s demand for reactive power, thus improving stability, voltage control, and overall power quality in the network. SVCs are commonly used in applications like voltage support for industrial plants, grid stabilization, and power factor correction.

The TCR Static Var Compensator (SVC) market is witnessing significant growth due to the increasing demand for voltage regulation and reactive power compensation in electrical grids. SVCs, which are primarily used in power systems to stabilize voltage levels and improve power quality, are crucial for maintaining the reliability and efficiency of modern electrical grids. With the growing need for grid modernization, especially in regions with fluctuating renewable energy sources, the demand for SVCs is rising. The Thyristor-Controlled Reactor (TCR) in these systems allows for quick and efficient adjustment of reactive power, which is critical for managing grid stability, especially during load variations or faults.

In the current market, the major players in the TCR SVC segment include large power system manufacturers and solution providers who are focused on offering efficient and flexible solutions to tackle voltage fluctuations. The demand for SVCs is largely driven by industries such as utilities, manufacturing, and large-scale infrastructure projects. The increasing integration of renewable energy sources like wind and solar power into national grids has made voltage stability a greater challenge, creating a need for more advanced and dynamic reactive power compensation systems like the TCR SVC. Furthermore, the global push for energy efficiency and grid reliability is expected to continue driving the adoption of these devices.

Looking ahead, the future of the TCR SVC market is expected to be shaped by the ongoing developments in smart grids and advanced grid management systems. As the energy sector transitions toward more sustainable and decentralized energy sources, the integration of SVCs with grid management technologies will become even more essential. In particular, the ability of TCR SVCs to dynamically adjust to rapid changes in grid conditions, such as those caused by the intermittency of renewable energy, will make them a crucial component of future power systems. The demand for TCR SVCs is also expected to increase in emerging markets as they undergo industrialization and infrastructure development, requiring more sophisticated and reliable voltage control solutions.

This report aims to provide a comprehensive presentation of the global market for TCR Static Var Compensator (SVC), focusing on the total sales revenue, key companies market share and ranking, together with an analysis of TCR Static Var Compensator (SVC) by region & country, by Voltage, and by Application.

The TCR Static Var Compensator (SVC) market size, estimations, and forecasts are provided in terms of sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding TCR Static Var Compensator (SVC).

Market Segmentation

By Company

• ABB
• Siemens
• Taikai Power Electronic
• NR Electric
• CRERT
• Guirong Xieping
• Rongxin Power Electronic
• Liaoning Lide Investment Holding Group
• Hitachi
• Mitsubishi Electric
• S&C Electric
• GE
• AMSC
• Ingeteam
• Comsys AB

Segment by Voltage

• Voltage: 0kV - 6kV
• Voltage: 6kV - 10kV
• Voltage: 10kV - 20kV
• Voltage: 20kV - 30kV
• Voltage: 30kV - 40kV
• Other

Segment by Application

• Electrical Grid
• Metallurgy & Steel
• Mining
• New Energy
• Chemical
• Transport
• Other

Segment by Region

• North America: United States, Canada, and Mexico
• Europe: United Kingdom, Germany, France, Spain, Italy, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, and Rest of Asia Pacific
• Middle East & Africa: Saudi Arabia, South Africa, and Rest of MEA
• Latin America: Brazil, Argentina, and Rest of Latin America

*If you need a regional or country-specific version, or customized segmentation, we can tailor the report to your requirements.