A recent market intelligence report that is published by Data Insights Partner on the global IGBT Based STATCOM Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international IGBT Based STATCOM Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global IGBT Based STATCOM Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global IGBT Based STATCOM Market is offered. In accordance with the report, the global IGBT Based STATCOM Market is projected to expand by a healthy CAGR of 9.2% over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
IGBT Based STATCOM also known as Static Synchronous Condenser on STATCOM is one type of regulating device used in AC electricity transmission networks. STATCOMs can act as both source and sink of AC power to an electricity network and can also be used as voltage converter as it is a VSC-based device.
The expanding energy and power generating, industrial and electric gadget manufacturing sectors are the main drivers behind the rapid growth of IGBT Based STATCOM Market. The rising need of STATCOMs to regulate the current flow and manage voltage in various sectors such as renewable power generation sectors, electricity-based utilities and products sectors etc. is pushing the market growth rate high.
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Beside this, the rapid urbanization, growing population, rising per capita income are also some of the key players behind the rapid growth of the IGBT Based STATCOM Market.
Aside from these, the growing government incentives, subsidies and supports to the power generating market and rising foreign investments in the IGBT Based STATCOM sector are also adding fuel to this increasing market growth.
The regular introduction of different and brand-new types of IGBT Based STATCOMs with better technologies and qualities to satisfy the varying tastes of the customer companies is also attracting new consumers and thus helping the growth rate of IGBT Based STATCOM Market to rise high. The convenience and efficiency of IGBT Based STATCOMs is also helping in the expansion of the said market.
The IGBT Based STATCOM Market has a huge potential. Though it is expanding very fast day by day, many things are preventing it from using its full potential. Some of these restraints are–
High prices of the raw materials, high installation, maintenance and repairing costs, high cost of R&D activities resulting into high cost of the premium quality end products.
Lack of awareness about the availability and benefits of the IGBT Based STATCOMs and lack of progress and expansion of renewable energy sectors in most of the developing nations.
The commercial and government sectors are expected to show huge opportunities for the IGBT Based STATCOM manufacturers and providers as the government-subsidized and private energy generating sectors and firms are growing very fast.
During the forecast period, Asia Pacific followed by North America and Europe are expected to have the largest share of IGBT Based STATCOM Market. The demand for these products in the Asia Pacific region is driven by the expanding technological usage in various sectors and growing number of government subsidized organizations in China, India, Japan, South Korea etc. countries, growing population and rising disposable income among individuals. It is also believed that on the basis of application, the portable power generating segments will face the highest growth rate.
This market intelligence report on the global IGBT Based STATCOM Market encompasses market segments based on product type, application, end usage and country.
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By Product Type the global IGBT Based STATCOM Market has been divided into:
q Low Voltage STATCOMs
q High Voltage STATCOMs
By Application the global IGBT Based STATCOM Market has been divided into:
q Renewable Energy
q Industrial and Manufacturing
q Electric Utilities
By End Usage the global IGBT Based STATCOM Market has been divided into:
By country/region, the global IGBT Based STATCOM Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q American Superconductor Corporation (AMSC)
q Beijing In-Power Electric Co. Ltd.
q Comsys AB
q General Electric Company
q Hitachi, Ltd.
q Hyosung Heavy Industries
q Ingeteam Corporación, S.A.
q Mersus Power
q Mitsubishi Electric Corporation
q Montnets Rongxin Technology Group Co., Ltd.
q ROHM Co., Ltd.
q Siemens AG
q Sieyuan Electric Co.
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as IGBT Based STATCOM Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
ROHM Co., Ltd.
In September, 2019, the electric solutions providing company ROHM Co., Ltd. announced the addition of four new automotive-grade 1200V-rated IGBT-based STATCOM devices which are ideal for switching and alternating circuits in PTC heaters and the inverters used in electronic compressors.
Mitsubishi Electric Corporation
In January, 2018, the globally famous Mitsubishi Electric Corporation announced to develop of a power semiconductor module 6.5 kV full silicon carbide (SiC) which would provide a very high power density and offer the electric power systems and railcars with better compact and more energy-efficient power.
Ø This study offers comprehensive yet detailed analysis of the IGBT Based STATCOM Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world IGBT Based STATCOM Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of different type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for IGBT Based STATCOM caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for IGBT Based STATCOM Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the IGBT Based STATCOM Market
v Identification of key factors driving investment opportunities in the IGBT Based STATCOM Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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