Product Code: GVR-4-68040-805-0
STATCOM Market Summary
The global STATCOM market size was estimated at USD 0.69 billion in 2024, and is projected to reach USD 1.21 billion by 2033, growing at a CAGR of 6.8% from 2025 to 2033. The global Static Synchronous Compensator (STATCOM) market is being significantly driven by the rapid integration of renewable energy sources into power grids.
As wind and solar power become increasingly dominant in the global energy mix, utilities face heightened challenges around voltage fluctuations, grid instability, and reactive power imbalance. STATCOMs play a critical role in mitigating these challenges by providing fast, dynamic reactive power support, ensuring grid code compliance such as Low Voltage Ride Through (LVRT), and maintaining power quality. Countries such as India, China, and Germany are leading in STATCOM adoption in solar and wind projects, reflecting a broader global shift toward grid-connected renewable energy stabilization.
Another major trend is the ongoing modernization of aging transmission and distribution infrastructure. Utilities across North America, Europe, and parts of Asia Pacific are investing in grid resiliency and smart grid technologies to cope with growing demand, distributed generation, and changing load profiles. STATCOMs are increasingly deployed at substations and critical grid nodes to ensure voltage stability, minimize transmission losses, and enhance the overall reliability of the grid. These devices are especially valuable in weak grids or remote areas where voltage regulation is critical but challenging through traditional mechanical systems.
The market is also witnessing growth due to expansion in industrial applications, particularly in sectors such as steel manufacturing, mining, and cement. Heavy industrial processes are known for causing significant voltage dips and harmonic distortion due to their large, fluctuating power demands. STATCOMs, especially medium-power systems, are being deployed to provide flicker mitigation, power factor correction, and voltage stabilization, resulting in improved operational efficiency and reduced energy costs. As industrial automation and electrification intensify in emerging economies, demand for STATCOM solutions in these sectors is expected to rise steadily.
Another trend fueling STATCOM market expansion is the rise of green hydrogen and energy storage projects. As governments and companies invest in hydrogen electrolyzer plants and hybrid systems (e.g., STATCOM + BESS), there is a growing need for power electronics devices that can stabilize load and supply-side fluctuations. STATCOMs are well-positioned to support the power quality needs of electrolyzers and help integrate them into the grid without creating instability. This emerging use case, although currently small in volume, is projected to grow significantly, especially in Europe, Japan, and the Middle East.
The market is also benefitting from technological advancements in STATCOM design, including the adoption of modular multilevel converters (MMC) and compact containerized systems. These innovations are making STATCOMs more flexible, scalable, and suitable for deployment in space-constrained or mobile environments such as offshore wind platforms or mining sites. The integration of digital monitoring and predictive maintenance tools is also enhancing system performance and uptime.
Global STATCOM Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global STATCOM market report based on rated power, end use and region:
- Rated Power Outlook (Revenue, USD Billion, 2021 - 2033)
- Low Power STATCOM (Less than 20 MVAR)
- Medium Power STATCOM (20-100 MVAR)
- High Power STATCOM (Greater than 100 MVAR)
- End Use Outlook (Revenue, USD Billion, 2021 - 2033)
- Utility
- Steel Manufacturing
- Mining
- Renewable Energy
- Hydrogen Power Plant
- Others
- Regional Outlook (Revenue, USD Billion, 2021 - 2033)
- North America
- Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Latin America
- Middle East and Africa (MEA)
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Research Methodology
- 1.2.1. Information Procurement
- 1.3. Information or Data Analysis
- 1.4. Methodology
- 1.5. Research Scope and Assumptions
- 1.6. Market Formulation & Validation
- 1.7. Country Based Segment Share Calculation
- 1.8. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. STATCOM Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Industry Challenge
- 3.3. STATCOM Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic landscape
- 3.3.2.3. Social landscape
- 3.3.2.4. Technological landscape
- 3.3.2.5. Environmental landscape
- 3.3.2.6. Legal landscape
Chapter 4. STATCOM Market : Rated Power Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. STATCOM Market: Rated Power Movement Analysis, USD Million, 2024 & 2033
- 4.3. Low Power STATCOM (Less than 20 MVAR)
- 4.3.1. Low Power STATCOM Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 4.4. Medium Power STATCOM (20-100 MVAR)
- 4.4.1. Medium Power STATCOM Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 4.5. High Power STATCOM (Greater than 100 MVAR)
- 4.5.1. High Power STATCOM Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 5. STATCOM Market : End Use Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. STATCOM Market: End Use Movement Analysis, USD Million, 2024 & 2033
- 5.3. Utility
- 5.3.1. Manufacturing Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.4. Steel Manufacturing
- 5.4.1. Steel Manufacturing Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.5. Mining
- 5.5.1. Mining Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.6. Renewable Energy
- 5.6.1. Renewable Energy Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.7. Hydrogen Power Plant
- 5.7.1. Hydrogen Power Plant Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.8. Others
- 5.8.1. Others Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 6. STATCOM Market : Regional Estimates & Trend Analysis
- 6.1. STATCOM Market Share, By Region, 2024 & 2033, USD Million
- 6.2. North America
- 6.2.1. North America STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.2.2. U.S.
- 6.2.2.1. U.S. STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.2.3. Canada
- 6.2.3.1. Canada STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.2.4. Mexico
- 6.2.4.1. Mexico STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3. Europe
- 6.3.1. Europe STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3.2. UK
- 6.3.2.1. UK STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3.3. Germany
- 6.3.3.1. Germany STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3.4. France
- 6.3.4.1. France STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Asia Pacific STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4.2. China
- 6.4.2.1. China STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4.3. Japan
- 6.4.3.1. Japan STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4.4. India
- 6.4.4.1. India STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4.5. South Korea
- 6.4.5.1. South Korea STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4.6. Australia
- 6.4.6.1. Australia STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.5. Latin America
- 6.5.1. Latin America STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.5.2. Brazil
- 6.5.2.1. Brazil STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.6. Middle East and Africa
- 6.6.1. Middle East and Africa STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.6.2. UAE
- 6.6.2.1. UAE STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.6.3. KSA
- 6.6.3.1. KSA STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.6.4. South Africa
- 6.6.4.1. South Africa STATCOM Market Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Company Categorization
- 7.2. Company Market Positioning
- 7.3. Company Heat Map Analysis
- 7.4. Company Profiles/Listing
- 7.4.1. GE Grid Solutions, LLC
- 7.4.1.1. Participant's Overview
- 7.4.1.2. Financial Performance
- 7.4.1.3. Product Benchmarking
- 7.4.1.4. Strategic Initiatives
- 7.4.2. Ingeteam
- 7.4.2.1. Participant's Overview
- 7.4.2.2. Financial Performance
- 7.4.2.3. Product Benchmarking
- 7.4.2.4. Strategic Initiatives
- 7.4.3. ABB
- 7.4.3.1. Participant's Overview
- 7.4.3.2. Financial Performance
- 7.4.3.3. Product Benchmarking
- 7.4.3.4. Strategic Initiatives
- 7.4.4. Siemens
- 7.4.4.1. Participant's Overview
- 7.4.4.2. Financial Performance
- 7.4.4.3. Product Benchmarking
- 7.4.4.4. Strategic Initiatives
- 7.4.5. Nidec Conversion
- 7.4.5.1. Participant's Overview
- 7.4.5.2. Financial Performance
- 7.4.5.3. Product Benchmarking
- 7.4.5.4. Strategic Initiatives
- 7.4.6. Hitachi Energy Ltd
- 7.4.6.1. Participant's Overview
- 7.4.6.2. Financial Performance
- 7.4.6.3. Product Benchmarking
- 7.4.6.4. Strategic Initiatives
- 7.4.7. Mitsubishi Electric Corporation
- 7.4.7.1. Participant's Overview
- 7.4.7.2. Financial Performance
- 7.4.7.3. Product Benchmarking
- 7.4.7.4. Strategic Initiatives
- 7.4.8. JEMA Energy
- 7.4.8.1. Participant's Overview
- 7.4.8.2. Financial Performance
- 7.4.8.3. Product Benchmarking
- 7.4.8.4. Strategic Initiatives
- 7.4.9. American Superconductor
- 7.4.9.1. Participant's Overview
- 7.4.9.2. Financial Performance
- 7.4.9.3. Product Benchmarking
- 7.4.9.4. Strategic Initiatives
- 7.4.10. HYOSUNG HEAVY INDUSTRIES
- 7.4.10.1. Participant's Overview
- 7.4.10.2. Financial Performance
- 7.4.10.3. Product Benchmarking
- 7.4.10.4. Strategic Initiatives