Albany, NY -- (SBWIRE) -- 05/20/2016 -- Increasing industrialization coupled with rising electricity demand is boosting the demand for energy management technologies, such as static synchronous compensator (STATCOM) UPS and static VAR compensator (SVC) UPS, in India. Both of these are regulating devices used for power factor correction and voltage regulation across the network. Static VAR compensator (SVC) UPS is considered as a traditional technology, primarily used for controlling the network voltage at its coupling point. However, utilities and industries prefer STATCOM UPS technology over SVC UPS technology on account of its high speed of response and low harmonic emission. Presently, two types of STATCOM UPS technologies are being majorly used: insulated gate bipolar transistor (IGBT) based STATCOM UPS and gate turn-off thyristor (GTO) based STATCOM UPS.

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IGBT based STATCOM UPS is the most preferred technology across all the industries and utilities owing to its wide applications in both real power (HVDC) and reactive power (FACTS). Both these STATCOM UPS have applications in long distance power transmission, power distribution, oil and gas offshore platforms, steel manufacturing, mining, and the automobile industry. India has witnessed a significant growth in the manufacturing sector in the last few decades, especially after the introduction of economic reforms in 1991. This has created high demand for electricity. Several companies across industries are exploring all possible technologies for reliable and uninterrupted power supply in order to increase their production. This has augmented the demand for STATCOM UPS technology across the manufacturing industries in India. This technology is also widely used in power transmission and power substations. The Government of India is investing aggressively in developing high-capacity corridors comprising 400 kV & 765 kV lines, HVDC power transmission systems, and upgrading aged transmission infrastructure. STATCOM plays a very crucial role in compensating reactive power and refining power factor across the transmission network. In the next five years, investments of almost US$ 50 Bn are expected in the transmission sector. Such investments would drive the growth of STATCOM UPS market in the near future.

India's STATCOM UPS market has been analyzed in terms of revenue (US$ Mn). Additionally, the market has been segmented on the basis of product type (IGBT based STATCOM UPS and GTO based STATCOM UPS), application (long distance power transmission, power distribution, oil and gas offshore platforms, steel manufacturing, mining, and automobile industry), and geography. IGBT based STATCOM UPS held the largest share in India's STATCOM UPS market in terms of product type in 2014. However, in application segment, power substation led the STATCOM UPS market in terms of revenue in 2014.

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The STATCOM UPS market has been segmented into four regions: East India, West India, North India, and South India. West India, with states such as Maharashtra, Gujarat, and Chhattisgarh, accounted for the highest share in India's STATCOM UPS market in 2014. The market in East India is expected to witness significant growth due to economic development and increasing industrial activities in Orissa and Jharkhand. Key players in India's STATCOM UPS market are Bharat Heavy Electricals Limited (BHEL), ABB India Limited, Crompton Greaves Limited, Schneider Electric India Pvt. Ltd., General Electric India Ltd., Mitsubishi Electric India Pvt. Ltd., Signotron India Pvt. Ltd., Power One Micro Systems Pvt. Ltd., Veeral Controls Pvt. Ltd., and NR Energy Solutions India Pvt. Ltd.

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