Static VAR Compensator (SVC) Market - Global Forecast to 2020

The static VAR compensator (SVC) market was valued at USD 643.6 million in 2014 and is expected to reach USD 807.7 million by 2020, at a CAGR of 3.8% between 2015 and 2020. The increasing demand for renewable source of energy and replacement of aging power infrastructure in developed geographical regions are the factors driving the SVC market positively.
“MCR-based solution is in the growth phase, whereas thyristor-based solution is entering the maturity phase”
In the static VAR compensator (SVC) market, MCR based SVC solution is estimated to grow at a significant pace during the forecast period. Till recently, thyristor-based SVC solutions were used by transmission and distribution companies for AC transmission and distribution solutions. Presently, the use of MCR-based SVC solutions is increasing owing to the presence of features such as high reliability, small dimension, and its ability to sustain instantaneous voltage to avoid generator breaking among others, as compared to thyristor-based SVC.
“APAC is expected to grow at the highest rate in the SVC market”
The market in APAC is expected to grow at the highest CAGR between 2015 and 2020. The growth is attributed to the continuous demand for electricity, which plays a major role in the adoption of SVC in this region. In rapidly growing economies such as China and India, capacity addition across the existing power infrastructure value chain is the major driving factor for the increased demand for SVC in this region.

Breakdown of profile of primary participants:
‧ By Company Type-Tier 1- 14%, Tier 2- 29%, Tier 3- 57%
‧ By Designation –C Level- 14%, Manager Level- 57%; Others- 29%
‧ By Region- North America-43%, Europe-29%, Asia-Pacific-14%, RoW-14%
The key players operating in this market include Rongxin Power Electronic Co., Ltd. (China), ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric (U.S.), Eaton Corp plc (Ireland), American Electric Power (U.S.), Hyosung (South Korea), NR Electric Co. Ltd. (China), Mitsubishi Electric Corp. (Japan), and American Superconductor Corp. (U.S.) among others.

“Reasons to buy the report”:
‧ This report includes the market statistics pertaining to SVC type, vertical, and geography along with their respective revenues.
‧ The Porter’s Five Forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the static VAR compensator (SVC) market.
‧ Major drivers, restraints, and opportunities for the SVC market have been detailed in this report.
‧ Illustrative segmentation, analysis, and forecast for the markets based on SVC type, component, vertical, and geography has been conducted to give an overall view of the SVC market.
‧ A detailed competitive landscape includes key players, in-depth analysis, and revenue of key players.

TABLE OF CONTENTS

1 INTRODUCTION 14
1.1 STUDY OBJECTIVES 14
1.2 MARKET DEFINITION 14
1.3 STUDY SCOPE 15
1.3.1 MARKETS COVERED 15
1.3.2 YEARS CONSIDERED FOR THE STUDY 16
1.4 CURRENCY & PRICING 16
1.5 LIMITATIONS 16
1.6 STAKEHOLDERS 17
2 RESEARCH METHODOLOGY 18
2.1 RESEARCH DATA 18
2.1.1 SECONDARY DATA 19
2.1.1.1 Key data from secondary sources 19
2.1.2 PRIMARY DATA 20
2.1.2.1 Key data from primary sources 20
2.1.2.2 Key industry insights 21
2.1.2.3 Breakdown of primaries 21
2.2 MARKET SIZE ESTIMATION 22
2.2.1 BOTTOM-UP APPROACH 22
2.2.2 TOP-DOWN APPROACH 23
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 24
2.4 RESEARCH ASSUMPTIONS 25
2.4.1 ASSUMPTIONS 25
3 EXECUTIVE SUMMARY 26
4 PREMIUM INSIGHT 31
4.1 INCREASING OPPORTUNITIES IN THE RENEWABLE VERTICAL EXPECTED TO DRIVE THE SVC MARKET DURING THE FORECAST PERIOD 31
4.2 THYRISTOR SVC MARKET: BY REGION 31
4.3 CANADA EXPECTED TO REGISTER THE HIGHEST CAGR DURING THE FORECAST PERIOD 32
4.4 AMERICAS HELD THE LARGEST MARKET SHARE IN THE GLOBAL SVC MARKET IN 2014 33
4.5 SVC MARKET IN RENEWABLE VERTICAL 33
4.6 LIFE CYCLE ANALYSIS, BY GEOGRAPHY 34
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5 MARKET OVERVIEW 35
5.1 MARKET SEGMENTATION 36
5.2 MARKET DYNAMICS 38
5.2.1 DRIVERS 39
5.2.1.1 Increase in the demand for renewable sources of energy 39
5.2.1.2 Power quality and network reliability requirements 40
5.2.1.3 Upgradation and replacement of aging power infrastructure in developed regions 40
5.2.2 RESTRAINTS 41
5.2.2.1 Lack of awareness about MCR-based SVCs 41
5.2.2.2 Political intervention in the power & utility market 41
5.2.3 OPPORTUNITIES 42
5.2.3.1 Increasing use of static VAR compensators as high voltage boosters in railways 42
5.2.4 CHALLENGES 43
5.2.4.1 Cost and other related issues in the SVC market 43
6 INDUSTRY TRENDS 44
6.1 INTRODUCTION 45
6.2 VALUE CHAIN ANALYSIS 46
6.3 PORTER’S FIVE FORCES ANALYSIS 47
6.3.1 INTENSITY OF COMPETITIVE RIVALRY 48
6.3.2 THREAT OF SUBSTITUTES 49
6.3.3 BARGAINING POWER OF BUYERS 50
6.3.4 BARGAINING POWER OF SUPPLIERS 51
6.3.5 THREAT OF NEW ENTRANTS 52
6.4 REGULATORY LANDSCAPE 53
7 STATIC VAR COMPENSATOR MARKET, BY TYPE 54
7.1 INTRODUCTION 55
7.2 THYRISTOR-BASED SVC 57
7.2.1 THYRISTOR-CONTROLLED REACTOR – FIXED CAPACITOR (TCR-FC) 57
7.2.2 THYRISTOR-CONTROLLED REACTOR – THYRISTOR SWITCHED CAPACITOR (TCR-TSC) 57
7.3 MAGNETICALLY CONTROLLED REACTOR (MCR)-BASED SVC 60
8 STATIC VAR COMPENSATOR MARKET, BY COMPONENT 64
8.1 INTRODUCTION 65
8.2 POWER ELECTRONICS DEVICES 65
8.3 HARMONIC FILTER 66
8.4 THYRISTOR 66
8.5 REACTOR 66
8.6 CAPACITOR BANK 66
8.7 GIS SWITCHGEAR 67
8.8 PHASE-SHIFTING TRANSFORMER (PST) 67
8.9 SURGE ARRESTER 67
8.10 CONTROL PROTECTION SYSTEM 67
9 STATIC VAR COMPENSATOR MARKET, BY VERTICAL 68
9.1 INTRODUCTION 69
9.2 ELECTRIC UTILITY 72
9.3 RENEWABLE 73
9.3.1 WIND POWER GRID 75
9.3.1.1 Onshore 75
9.3.1.2 Offshore 76
9.3.2 SOLAR FARM 77
9.4 RAILWAY 78
9.5 INDUSTRIAL 79
9.5.1 STEEL 81
9.5.2 MINING 82
9.6 OIL & GAS 83
10 GEOGRAPHIC ANALYSIS 85
10.1 INTRODUCTION 86
10.2 AMERICAS 89
10.2.1 NORTH AMERICA 92
10.2.1.1 U.S. 92
10.2.1.2 Canada 93
10.2.1.3 Mexico 93
10.2.2 SOUTH AMERICA 94
10.2.2.1 Brazil 94
10.2.2.2 Rest of South America 94
10.3 EUROPE 95
10.3.1 WESTERN EUROPE 98
10.3.1.1 Germany 98
10.3.1.2 France 99
10.3.1.3 U.K. 99
10.3.1.4 Spain 99
10.3.1.5 Rest of Western Europe 99
10.3.2 EASTERN EUROPE 100
10.3.2.1 Russia 100
10.3.2.2 Turkey 100
10.3.3 REST OF EUROPE 101
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10.4 APAC 101
10.4.1 CHINA 104
10.4.2 INDIA 104
10.4.3 JAPAN 104
10.4.4 SOUTH-KOREA 104
10.4.5 REST OF APAC 105
10.5 REST OF THE WORLD 105
10.5.1 SOUTH AFRICA 107
10.5.2 MIDDLE EAST 107
10.5.2.1 Saudi Arabia 107
10.5.2.2 UAE 107
11 COMPETITIVE LANDSCAPE 109
11.1 OVERVIEW 109
11.2 MARKET RANKING FOR STATIC VAR COMPENSATOR (SVC) MARKET 110
11.3 COMPETITIVE SCENARIO 111
11.4 RECENT DEVELOPMENTS 113
11.4.1 EXPANSIONS 113
11.4.2 NEW PRODUCT LAUNCHES 114
11.4.3 PARTNERSHIPS & JOINT VENTURES 114
11.4.4 MERGERS & ACQUISITIONS 115
12 COMPANY PROFILES 116
(Overview, Products and Services, Financials, Strategy & Development)*
12.1 INTRODUCTION 116
12.2 ABB LTD. 117
12.3 GENERAL ELECTRIC 120
12.4 SIEMENS AG 123
12.5 MITSUBISHI ELECTRIC CORPORATION 126
12.6 EATON CORPORATION PLC 129
12.7 AMERICAN ELECTRIC POWER 132
12.8 HYOSUNG 134
12.9 RONGXIN POWER ELECTRONIC CO., LTD. 135
12.10 AMERICAN SUPERCONDUCTOR CORP. 136
12.11 NR ELECTRIC CO., LTD. 138
*Details on Overview, Products and Services, Financials, Strategy & Development might not be Captured in case of Unlisted Companies.
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13 APPENDIX 140
13.1 INSIGHTS OF INDUSTRY EXPERTS 140
13.2 DISCUSSION GUIDE 141
13.3 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 143
13.4 AVAILABLE CUSTOMIZATIONS 145
13.5 RELATED REPORTS 145