Research

A recent ZDDQ survey shows that the global static VAR generator market is projected to grow remarkably owing to the persistent demand for stable power supply from the consumers. Knowing from 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.”

Highlights of the Report:

1. In-depth information about the static VAR generator market trends, growth drivers, obstacles, opportunities, and other related challenges.
2. An elaborate analysis of the competitive landscape, such as new product launches, mergers and acquisitions, new agreements, and contracts.
3. Analysis of every possible segment present in the market.

Current situation

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.

Fortune Business Insights lists out some of the most prominent companies present in the static VAR generator market. They are as follows:

Outlook

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.

The importance of SVCs grows as more renewable energy resources come online, and more conventional power sources such as coal-fired and natural gas-fired generation are retired. Renewable resources lack any automatic frequency response mechanism, such as those found in large rotating thermal turbine-generators. SVCs mimic the action of rotating thermal turbines, and provide the ability to respond quickly, usually within milliseconds, to reactive power transients on high-voltage electrical transmission lines.

The technology includes a static synchronous compensator (STATCOM), or static synchronous condenser (STATCON), a regulating device used on alternating current (AC) electricity transmission networks. It is based on a power electronics voltage-source converter and can act as either a source or sink of reactive AC power to an electricity network. If connected to a source of power, it can also provide active AC power. SVCs are part of the flexible AC transmission system (FACTS) device family. As for practical applications, Hitachi ABB said, “Installing a STATCOM at one or more suitable points in a grid will increase power transfer capability by enhancing voltage stability and maintaining a smooth voltage profile under different network conditions. Its ability to perform active filtering is also very useful for improvements in power quality.”