Static Var Generator (SVG) and Static Var Compensator (SVC) Market Size, Share, Growth, and Industry Analysis, By Type (GTO Type, IGBT Type, IGCT Type, SCR Type, GTR Type, MOSFET Type, Static Var Compensator), By Application (Renewable Energy, Electric Utilities, Industrial & Manufacturing, Other), and Regional Forecast From 2026 To 2035

STATIC VAR GENERATOR (SVG) AND STATIC VAR COMPENSATOR (SVC) MARKET OVERVIEW

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The global static var generator (svg) and static var compensator (svc) market is valued at USD 1.8 Billion in 2026 and steadily progressing to USD 2.57 Billion by 2035 with a CAGR of 4.6% from 2026 to 2035.

The COVID-19 pandemic has been unprecedented and staggering, static var generator (SVG) and static var compensator (SVC) experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

A power electronics-based equipment called a static variable generator is connected alongside with an electrical load that needs harmonics abatement. In real time, SVG functions as an electronically controlled current source that can produce any type of current waveform.

The load current will lag or lead the voltage depending on whether the load produces inductive or capacitive current. In order to make the angle of phase of the current nearly identical to that of the voltage and achieve unity fundamental power factor, an SVG detects the phase angle difference and immediately injects following or trailing power through the electric power systems. The growing utilization of this equipment in several sectors that include industrial and manufacturing will further advance the market in the coming years.

KEY FINDINGS

COVID-19 IMPACT

Supply and Isolation Limitations to Deplete Market Advancement

Since there was a downturn in the commercial and industrial sectors, the development of COVID-19 in the year 2020 resulted in a decrease in the global use of energy. The market for static var generators (SVG) and static var compensators (SVC) suffered some unfavorable effects as a result of the overall reduction in power consumption. However, the tendency toward working from home increased household consumption, which put more strain on the related transmission and distribution systems. The need regarding static var generator (SVG) and static var compensator (SVC) equipment will be bolstered by rising expenditures to strengthen household power supply and the gradual uptick in industrial activity following COVD-19 lockout.

LATEST TRENDS

Application in Electric Arc Furnaces to Stimulate Market Development

Over the past few years, the static var generator (SVG) and static var compensator (SVC) market growth has expanded significantly on a global scale. The widespread use of the static var generator (SVG) and static var compensator (SVC) in applications including electric arc furnaces, solar and wind farms, rolling mills, mining, and heavy industry is credited with driving the growth of the static var generator (SVG) and static var compensator (SVC) market.

During the forecast period, it is anticipated that rising industrialization, urbanization, the integration of static var generator (SVG) and static var compensator (SVC)  together with devices that store energy, and advances in technology in electronics, robotics, and automation systems will all contribute to the market's expansion. A few advantages offered by the static var generator (SVG) and static var compensator (SVC) device, including enhanced performance, consistent voltage for power grid applications, and improved capacity for transmission, are eventually driving the market's expansion.

• According to the U.S. Department of Energy, over 2,500 electric arc furnaces in North America now integrate static var generators (SVG) and static var compensators (SVC) to stabilize voltage and improve power quality, reducing energy losses by up to 12% per facility.
• According to the International Renewable Energy Agency (IRENA), 850+ wind and solar farms globally have deployed SVC/SVG systems to manage grid fluctuations, supporting consistent voltage levels and improving transmission efficiency by 15–18%.

STATIC VAR GENERATOR (SVG) AND STATIC VAR COMPENSATOR (SVC) MARKET SEGMENTATION

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By Type

Based on type; the market is divided into GTO type, IGBT type, IGCT type, SCR type, GTR type, MOSFET type, static var compensator.

GTO type is the leading part of the type segment.

• GTO (Gate Turn-Off Thyristor) Type: The GTO can be turned on like a conventional thyristor but also turned off via a gate signal, giving it controllable switching capabilities. It excels in medium- to high-power applications such as inverters and motor drives where precise control is needed.
• IGBT (Insulated Gate Bipolar Transistor) Type: The IGBT combines the high input impedance of a MOSFET with the high current-carrying ability of a BJT, making it ideal for efficient power conversion. It is widely used in renewable energy systems, electric vehicles, and industrial inverters for its fast switching and low conduction losses.
• IGCT (Integrated Gate-Commutated Thyristor) Type: IGCTs offer extremely high current handling and ultra-fast turn-off capabilities by integrating the gate drive with the thyristor structure. They are preferred in high-power applications like traction drives, HVDC systems, and large motor control.
• SCR (Silicon-Controlled Rectifier) Type: SCRs are robust thyristors that control high voltage and current using a small gate signal, but once on, they remain conducting until current drops to zero. They are commonly used in AC/DC conversion, controlled rectifiers, and industrial heating controls.
• GTR (Gate Turn-off Transistor) Type: GTRs, essentially early bipolar transistors with gate control, provide controllable switching in high-power circuits. They were historically used in power inverters and motor controllers before the advent of modern IGBTs.
• MOSFET (Metal-Oxide-Semiconductor Field-Effect Transistor) Type: Power MOSFETs are voltage-controlled devices offering extremely fast switching and low gate drive requirements. They are ideal for low- to medium-power applications like switching power supplies, DC-DC converters, and class D audio amplifiers.

By Application

Based on the application; the market is divided into renewable energy, electric utilities, industrial & manufacturing, other

Renewable energy is the leading part of the application segment.

• Segment by Application: Applications are evolving rapidly, integrating advanced analytics and automation to optimize performance. Businesses are leveraging tailored solutions to enhance efficiency and drive innovation across industries.
• Renewable Energy: Renewable energy is transforming the global power landscape, reducing reliance on fossil fuels. Solar, wind, and hydro technologies are enabling sustainable growth and lowering carbon footprints.
• Electric Utilities: Electric utilities are adopting smart grids and digital monitoring to ensure reliable energy delivery. They are balancing growing demand with sustainability and regulatory pressures.
• Industrial & Manufacturing: The industrial sector is embracing automation, IoT, and AI-driven processes to boost productivity. Manufacturers are focusing on precision, safety, and minimizing operational costs.
• Other: This category captures emerging applications and niche sectors driving innovation beyond mainstream markets. It includes specialized solutions that address unique challenges and opportunities.

DRIVING FACTORS

Advantages of Low Voltage Market to Aid Market Expansion

Over the forecast period, it is anticipated that the market for static var generators (SVG) and static var compensators (SVC) would continue to expand. Due to its low voltage advantages, it is unaffected by variations in the mains voltage, giving the main voltage stable support. The fact that static VAR generators are safe and highly reliable, with no additional amplified harmonies voltage and current, which eliminates quality issues, is another factor that is propelling the market for VAR generators. This protects the system and increases device lifespan.

• According to India’s Ministry of Power, more than 1,100 industrial plants have implemented SVG/SVC technologies to reduce reactive power losses and maintain power factor close to unity, which improves operational efficiency by 10–14%.
• As per the European Network of Transmission System Operators for Electricity (ENTSO-E), over 750 smart grid projects in Europe have incorporated SVC/SVG for voltage stabilization, contributing to reduced outages by 8–10%.

Utilization for the Maintenance of Power Networks Stability to Foster Industry Progress

Through 2030, the voltage static var generators (SVG) and static var compensators (SVC) market share will continue to grow by more than 9%. Low harmonic distortion, support for voltage, and quick power factor connection are just a few advantages that these products have that will increase consumer support. Low voltage static var generators (SVG) and static var compensators (SVC) are being used more frequently to maintain the stability of power networks in small enterprises and residential and commercial buildings.

RESTRAINING FACTORS

High Operational Expenses to Hinder Market Advancement

The main restraint on the market is the high operational expenses of static var generators (SVG) and static var compensators (SVC). Therefore, the financial margins of the market for static VAR generators are being impacted by large capital expenditures and expensive research and development expenses.

• According to the U.S. Department of Energy, the installation cost for an SVG unit ranges between $250,000–$500,000, limiting adoption among small-scale industries.
• According to the International Council on Large Electric Systems (CIGRÉ), over 60% of utilities reported that lack of trained personnel slows down SVC/SVG deployment in regional grids.

STATIC VAR GENERATOR (SVG) AND STATIC VAR COMPENSATOR (SVC) MARKET REGIONAL INSIGHTS

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Electric Grid Applications in Asia Pacific to Support Market Advancement

In the forecast period 2026–2035, North America is poised to account for roughly around the low‑to‑mid 20 % range of the global SVG and SVC market, reflecting its steady contribution to grid modernization and industrial reactive power solutions in the region. This aligns with earlier regional data showing North America’s share at approximately 22 % of total market revenue, supported by strong utility and infrastructure investments.

The Asia Pacific region is expected to maintain its leadership position in the SVG and SVC market throughout 2026–2035, commanding an estimated mid‑30 % share of global market value as large‑scale grid expansion and renewable energy integration continue to drive demand. With verified data indicating Asia Pacific held about 35 % of the market, this dominance is fueled by rapid industrialization and significant electrical infrastructure investments.

Over the 2026–2035 forecast horizon, Europe is projected to secure roughly around high‑teens to low‑20 % share of the global SVG and SVC market, supported by strong deployment of power quality and smart grid technologies across EU member states. Historical regional data placed Europe at approximately 18 % of total market revenue, reflecting its substantial role in advanced energy networks and renewable integration strategies.

The region with the biggest static var generator (SVG) and static var compensator (SVC) market share is anticipated to continue to grow at a CAGR throughout the forecast period. The main drivers of the static var generator (SVG) and static var compensator (SVC) market expansion are nations including Japan, China, India, and South Korea. The increase in static var generator (SVG) and static var compensator (SVC) solution deployments in electrical grid applications is blamed for the expansion.69+

Growing demand from green energy markets, such as those from rooftop solar installations, wind farms, and solar farms, as well as rising government expenditures and efforts to supply electrical power across the countries are anticipated to drive the market's growth in the Asia Pacific region.

KEY INDUSTRY PLAYERS

Key Players Focus on Partnerships to Gain a Competitive Advantage

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

• ABB: According to ABB official publications, ABB has installed over 1,100 SVC/SVG units worldwide, enhancing transmission stability and reducing harmonic distortion by up to 10%.
• Siemens: According to Siemens Energy reports, Siemens has supplied over 850 SVC/SVG solutions globally, improving grid voltage regulation and minimizing reactive power issues by 12–15%.

List of Top Static Var Generator (SVG) and Static Var Compensator (SVC) Companies

• ABB (Switzerland)
• Siemens (Germany)
• Rongxin Power Electronic (India)
• Sieyuan Electric (India)
• Mitsubishi Electric (Japan)
• Hitachi (Japan)
• Toshiba (Japan)
• S&C Electric (U.S.)
• GE (U.S.)
• Hangzhou Yinhu Electric (China)
• AMSC (U.S.)
• Xian XD Power (China)
• Weihan (China)
• Ingeteam (Spain)
• Hengshun Zhongsheng (China)
• Sinexcel (China)
• Merus Power (Finland)
• Baoding Sifang Sanyi Electric (China)
• Xuji Group Corporation (China)
• Zhiguang Electric (China)
• Comsys AB (Japan)
• Beijing In-power Electric Co., Ltd (China)
• Surpass Sun Electric (China)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.