In a recent published report, Kenneth Research has updated the market report for STATCOM Market for 2022 till 2031. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for STATCOM Market products.
STATCOM or static synchronous compensator can be also described as a power electronic device which uses force commutated devices like GTO, IGBT etc. to control the reactive power flow via a power network. The most common use of STATCOM is for voltage steadiness. A STATCOM is a voltage source converter (VSC) based device, with the voltage source behind a reactor. STATCOM tends to increase the stability of power network.
The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global STATCOM Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Global STATCOM Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Growing demands for continuous advancements in Electronics, and Automation & Robotics and increasing inclination towards renewable energy generation is expected to fuel the market for STATCOM. Apart from this, huge cost of capital could hamper the growth of the overall growth rate.
Global STATCOM Market Competitive Landscape
The “STATCOM Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such Bharat Heavy Electricals Limited (BHEL), General Electric India Ltd., Ingeteam, Inc., Siemens AG, Toshiba Corporation, NR Electric Co., Ltd., S&C Electric Company, ABB India Limited, Schneider Electric India Pvt. Ltd., Crompton Greaves Limited, Mitsubishi Electric India Pvt. Ltd., Statcom Solutions, Signotron India Pvt. Ltd., and Power One Micro Systems Pvt. Ltd.. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global STATCOM Market, By Product Type
>>Low voltage STATCOM (less than 20Mvar)
>>Medium voltage STATCOM (20 – 100 Mvar)
>>High voltage STATCOM (greater than 100 Mvar)
Global STATCOM Market, By End Use
>>Power Distribution
>>Mining
>>Offshore Oil and Gas
>>Steel Manufacturing
>>Automobile Manufacturing
>>Power Transmission
Global STATCOM Market Geographic Scope
>>North America
o U.S.
o Canada
o Mexico
>>Europe
o Germany
o UK
o France
o Rest of Europe
>>Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
>>Latin America
o Brazil
>>Rest of the World
Research Methodology
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our sales team at Verified Market Research.
Reasons to Purchase this Report
>>Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
>>Provision of market value (USD Billion) data for each segment and sub-segment
>>Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
>>Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
>>Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
>>Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
>>The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
>>Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
>>Provides insight into the market through Value Chain
>>Market dynamics scenario, along with growth opportunities of the market in the years to come
>>6-month post sales analyst support
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