Series Compensation Systems are widely accepted across the world in the industrial & commercial sector as a reliable & safety system, owing to its properties such as, as it increases transmission capacity, improves system stability, controls voltage regulation and ensures proper load division among parallel feeders. Also, the compact design and low manufacturing cost make them easy for installation in various utilities and industrial sector.
The need for uninterrupted electric supply is growing because of the worldwide rise in population and rapid industrialization. The increasing need of reliable electric supply and subsequent investment in transmission & distribution network, grid expansion, and safe electrical infrastructure, are expected to drive the growth of the global series compensation system market.
Growing electricity demand coupled with growing concern for safe transmission & distribution of electricity and the increasing grid infrastructure, will boost the global series compensation system market size over the forecast timeline. In series compensation, reactive power is inserted in series with transmission line for improving the impedance of the system, thus improving the power transfer capability of the line.
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- General Electric Company (U.S.),
- Siemens AG (Germany),
- ABB Ltd. (Switzerland),
- Adani Transmission Limited (India),
- NR Electric Co. (China),
- Hyosung Corporation (South Korea),
- Mitsubishi Electric Corporation (Japan),
- L&T Electrical & Automation (India),
- Energe Capacitors Pvt. Ltd. (India)
- Eaton Corporation Plc (Ireland).
Market Research Analysis
The utilities segment holds the largest share of series compensation system market currently and is expected to continue in the forecast period. Utilities use series compensations to counteract the natural impedance of the transmission lines, thereby increasing the power transfer capability. Series compensation systems are used broadly by utilities to prevent damages to critical and expensive equipment, to increase the dynamic stability of the transmission grid and to reduce parallel transmission paths. The increasing electricity access across the world, would result in an increase in the number of substations, which would in turn, raise the demand for series compensation systems..
The Global Series Compensation System Market has been analyzed based on voltage types, end-users and regions. On the basis of voltage, the global series compensation system market has been segmented as low, medium and high voltage. Based on types, it is classified as, static series compensation and thyristor controlled series compensation. Based on end-users, it is further classified as utilities, industries and others.
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Scope of the Report
This study provides an overview of the global series compensation system market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global series compensation system market by its voltage, by type, by end user and by regions.
- By Voltage
- Low voltage
- Medium voltage
- High voltage
- By Type
- Static Series Compensation
- Thyristor Controlled Series Compensation
- By End User
- By Regions
- North America
- Asia Pacific
- Rest of the World
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