Report Description
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:
Definition
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.
Market Drivers
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.
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.
Market Restraints
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.
Opportunities
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.
Trends
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.
Segment Covered:
This market
intelligence report on the global IGBT Based STATCOM Market encompasses market segments based on product type, application,
end usage and country.
By Product
Type the global IGBT Based STATCOM Market has been
divided into:
q Low
Voltage STATCOMs
q High
Voltage STATCOMs
q Others
By Application
the global IGBT Based STATCOM Market has been
divided into:
q Renewable
Energy
q Industrial
and Manufacturing
q Electric
Utilities
q Others
By End
Usage the global IGBT Based STATCOM Market has been
divided into:
q Government
q Commercial
q Industrial
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 ABB
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.
Report Highlights:
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.
Salient Features:
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