his report provides a detailed analysis of the SVC market based on type, component, vertical, and region. It has been estimated that the thyristor-based SVC solution would hold a large share in the static VAR compensator market. However, the market for renewable vertical, which includes wind power and solar farm, is expected to grow at a high CAGR between 2015 and 2020

Pune, India -- (SBWire) -- 09/13/2016 --The static VAR compensator (SVC) market was valued at USD 643.6 Million in 2014, and it is expected to grow at a CAGR of 3.8% between 2015 and 2020. The increasing demand for renewable sources of energy and replacement of aging power infrastructure in developed geographical regions are some of the factors driving the static VAR compensator market positively.

Browse 74 market tables and 68 figures spread through 145 pages and in-depth TOC on "Static VAR Compensator (SVC) Market - Global Forecast to 2020"

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Increase in demand for renewable sources of energy, power quality, and network reliability requirements are the key drivers in the static VAR compensator (SVC) market. The Americas and APAC are major regions, where SVC solutions are witnessing maximum growth. Some of the major players in the SVC market till 2014 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.).

Top 2 players of SVC market:
ABB Ltd. (Switzerland) held the leading position in the SVC market in 2014 because of its wide product portfolio, enriching experience, and technology innovations related to the field of SVC technology. ABB has a focused strategy in building their product portfolio by continuously entering into contracts and agreements with different companies in the market. The company has introduced many SVC devices and is regarded as an innovator in this field among other competitors. For instance, the company signed a contract with Xcel Energy (U.S.), to deliver two SVCs to support its transmission grid expansion in New Mexico in 2015.

Siemens AG (Germany) was ranked second in the SVC market in 2014. In order to maintain a leading position in the market, the company plans to starts its operation with Accenture (Europe) by developing a company called Omnetric Group (Germany). This jointly formed company comprised Siemens' smart grid products and solutions and Accenture's management and technology consulting, systems integration and managed services capabilities. The strategy of the company is to enhance the competitiveness of the SVC business by entering into contracts as well as joint ventures with leading firms. For instance, in April 2015, the company signed a contract with Sudzucker AG (Germany), to supply the complete power supply system.

Report Information: http://www.marketsandmarkets.com/Market-Reports/static-var-compensator-market-96574756.html

The other companies involved in the value chain of SVC solutions market include NTPC Ltd. (India), Duke Energy (U.S.), State Grid Corporation of China, Larsen & Toubro Ltd. (India), RWE AG (Germany), AECOM (U.S.) and, Shanghai Electric Power Construction Co. Ltd. (China) among others.

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