**Article:**
The global market for Static VAR Compensators (SVC) is projected to experience significant growth between 2023 and 2030, according to a recent report by DataM Intelligence. The Asia Pacific region currently holds the largest market share, accounting for approximately 35% of the total. This growth is attributed to increasing demand for power quality management and grid stability in rapidly developing economies.
Leading companies in the SVC market include General Electric, Rongxin Power Electronic Co., Ltd, and ABB Ltd. These firms are investing in advanced technologies to improve the efficiency and reliability of power systems. The expanding adoption of renewable energy sources and the modernization of electrical grids are also contributing factors driving market expansion.
**Why this matters**
Static VAR Compensators play a crucial role in maintaining voltage stability and improving power quality in electrical networks. As energy demand rises globally, especially in the Asia Pacific region, the deployment of SVC technology supports the integration of renewable energy and enhances grid resilience. Understanding market trends helps stakeholders make informed decisions about infrastructure investments and technology development.
Source: NewsData