Series Compensation System Market Outlook, Size, Trends, Top Companies and Growth Factors Details for Business Development till 2023

Series Compensation System Market is segmented by Voltage, by End user, and is expected to grow at a CAGR of 5% during the forecast period.

Market Research Future (MRFR) has announced the release of a new market research report. The report talks about the Global Series Compensation System Market in terms of its future growth potential, present statistics, and the intricate nature of the market’s inner workings and dynamics. The major factors that have an impact on the Global Series Compensation System Market’s growth are assessed in the report to quantify and measure their impact on the market’s growth over the forecast period. The leading players in the global series compensation system market are also analyzed in the report to provide readers with a clear idea of the competitive dynamics in the market. According to the report, the global series compensation system market is expected to grow at a CAGR of 5% over the forecast period from 2018 to 2023.

Series compensation systems are an electrical apparatus that allows the user or installer to maximize the volume of current flowing through the grid/local system and reducing the probability of voltage drop over long distances. They use capacitors to achieve this effect, decreasing the reactive impedance of the transmission line. Series compensation systems have become indispensable in industrial applications and utilities, where they allow maximum utilization of the available resources and reduce power wastage. The industrial sector is likely to emerge as one of the leading application areas for the series compensation system market globally, as the growth of the industrial sector is being taken seriously by a number of developing as well as developed countries across the world. Series compensation systems are installed on electrical distribution systems of the highest voltage rating, as these systems encounter the loss of voltage over long distances most frequently.

The relatively low manufacturing cost, simple design, and compact size of series compensation systems are likely to drive adoption of the same in various applications in the coming years. While series compensation systems represent a relatively minor investment, they can provide incremental benefits in terms of power conservation, equitable distribution, and reliability of power supply. This is likely to drive the demand from the global series compensation system market over the forecast period.

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Competitive Analysis:

Leading players in the Global Series Compensation Systems Market include

• General Electric Company
• ABB Ltd.
• NR Electric Co.
• Mitsubishi Electric Corporation
• Energe Capacitors Pvt. Ltd.
• Eaton Corporation PLC
• L&T Electrical & Automation
• Hyosung Corporation
• Adani Transmission Limited
• Siemens AG

Segmentation Analysis:

The Global Series Compensation System Market is segmented into fixed series compensation and thyristor-controlled series compensation on the basis of type.

On the basis of Voltage : low, medium, and high voltage series compensation.

By End user : utilities, industrial, and others.

Regional Analysis:

For the purpose of regional analysis, the Global Series Compensation Systems Market is segmented into North America, Europe, Asia Pacific, and rest of the world.

Asia Pacific is likely to dominate the Global Series Compensation System Market over the forecast period due to the growing volume of power consumption in the region’s rapidly developing industrial sector. The industrial sector in Asia Pacific has grown at an exponential rate over the last few decades as nascent economies in the region have sought to make giant economic leaps in order to reduce the economic deficit with reigning Western countries. Increasing efforts by governments in the region to maximize the coverage of electricity distribution within their countries are also likely to lead to growing demand from the series compensation system market in the region. Utilities are likely to remain a key consumer of series compensation systems in the Asia Pacific region, as several parts of the region are still devoid of electricity. Rapid urbanization in Asia Pacific countries has driven the demand for reliable long-distance electricity transmission networks, leading to a growth in the demand from the series compensation systems market.

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Intended Audience:

• Distributer & Supplier companies
• End Users
• Consultants and Investment bankers
• Government as well as Independent Regulatory Authorities

Product Analysis:

• Product matrix which gives a detailed comparison of the market for different recycled product types

Additional Information:

• Regulatory Landscape
• Pricing Analysis
• Macroeconomic Indicators

Geographic Analysis:

• Geographical analysis across 15 countries

Company Information:

• Profiling of 10 key market players
• In-depth analysis including SWOT analysis, and strategy information of related to report title
• Competitive landscape including emerging trends adopted by major companies

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Name: Abhishek
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Organization: Market Research Future
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Release ID: 480709