SVC or static VAR compensator is a power
quality device, used in power electronics to control & regulates the
voltage of devices to the needed set point. SVC provides fast-acting reactive
power compensation on precise high-voltage electrical systems. It is mainly
utilized in large industries, for instance steel-making plants, lower voltage
fluctuations, and flicker compensation. It is set up at an appropriate place in
electric power system to augment power transfer abilities by enhancing the
voltage stability. It develops active power oscillations by adapting the amplitude
of power. It is usually set up near high & quickly varying loads in big
industries for instance industries prone to flicker & welding plants, and
voltage fluctuations. It has an advantage of taking the system power aspect
close to unity. Some other benefits are high reliability, augmented ability to
transmit power, capability to maintain instant voltage to evade generator
breaking, low harmonics, small dimension, and quicker response time.
SVG or static VAR generator is a power
electronic device with force commutated devices like GTO, IGBT. It is also
known as STATCOM. It is based on the instantaneous reactive power and concept
of compensation principle consisting of GTO commutated converter.
According to study, “World
SVC SVG Market Research Report 2024(covering USA, EU, China, South East
Asia, Japan and etc)” the key companies operating in the world SVC SVG market
are ABB Ltd., Alstom, Siemens AG, GE Energy, Rongxin Power Electronic Co. Ltd.,
Toshiba Corp., Hitachi, Epri, Mitsubishi Electric Corp., Crompton Greaves Ltd.,
Weihan Power, Sieyuan Electric, Zhiguang Electric, XJ Group, Hengshun Electric,
Yinhu Electric, Xidian Power, Eaton Corporation Plc., Hyosung, Schneider
Electric India Pvt. Ltd., Bharat Heavy Electricals Limited (BHEL), Veeral Controls
Pvt. Ltd., Ingeteam, Inc., S&C Electric Company, JEMA Energy USA LLC,
American Electric Power, Sieyuan Electric, Surpa Sun Electric, Sanyi Electric,
Fujidaneng Electric, Sound Power, Statcom Solutions, Power One Micro Systems Pvt. Ltd., Signotron
India Pvt. Ltd., Jiuzhou Electric.
Based on SVC type, SVC SVG market is segmented
into Magnetically Controlled Reactor (MCR) based SVC and thyristor based SVC.
Thyristor based SVC is further sub-segmented into thyristor controlled reactor
– thyristor switched capacitor (TCR-TSC) and thyristor controlled reactor
–fixed capacitor (TCR-FC). Based on product type of SVG, market is segmented
into high voltage STATCOM (greater than 100 Mvar), medium voltage STATCOM (20 –
100 Mvar) and low voltage STATCOM (less than 20Mvar). Based on component type,
market is segmented into power electronics devices, thyristor, harmonic filter,
capacitor bank, reactor, Gis switchgear, surge arrester, Phase-Shifting
Transformer (PST) and control protection system. In addition, based on end-use,
market is segmented into power distribution, offshore oil & gas, mining,
automobile manufacturing, steel manufacturing and power transmission.
The SVC SVG market is driven by surge in power
quality & network reliability requirements, followed by increase in demand
for renewable sources of energy, growth in demands for continuous advancements
in electronics, automation & robotics and up-gradation or replacement of
aging power infrastructure in developed regions. However, political intervention
in the power & utility market and lack of awareness about MCR-based SVCS
may impact the market. Moreover, increase in use of SVC & SVG as high
voltage boosters in railways is a key opportunity for market.
Based on geography, China and India countries
hold major share in SVC SVG market owing to growth of industrial segment &
power infrastructure in the countries. It is anticipated that future of the
market will be bright due to rise in technology advancements and increase in
demand from renewable energy sources over the forecast period.
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