Series Compensation System Market to Grow at a Steady Pace over the Assessment Period

Pune, India, May 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Series Compensation System Market.

Market Overview

Series compensation refers to a device that reduces the reactive impedance of the transmission line to curb down the drop of voltage over long distances. It allows the effective operation of the power system by reducing the Ferranti effect. In recent years, it has been noticed that series compensation systems are having more and more applications. The expanding number of applications of the series compensation system is because of the cheap cost, enhanced system stability, high operational efficiency, proper load distribution between circuits, convenient virtual deployment of series compensation, and its easy and quick installation. The global market of series compensation system is driven by the imperative need for a reliable electric supply and subsequent investment in distribution & transmission network, developing secured electrical infrastructure, and gird expansion.

Series compensation systems market are widely accepted in the industrial and commercial industries as a safe and reliable system. This system increases the transmission capacity, controls the voltage regulation, enhances the system stability, and ensures proper load division among parallel feeders. Add to this, it also helps improve the voltage at the loading end and decreases the loss by lowering down the expenditure in transmission. The consistent need for electricity and the global growth in grid infrastructure is also expected to boost the global series compensation system market during the forecast period. On the flip side, the fluctuating material costs can cause be a major hurdle to the global series compensation system market.

Market Research Future (MRFR) notes in its recently published report that the global series compensation system market will garner a CAGR of 5% over the forecast period between 2017 and 2023.

Market Segmentation

The global series compensation system market segmentation is based upon the following key dynamics: type, end-user, and voltage.

By type, the market includes thyristor-controlled series compensation and static series compensation.\

By voltage, the market segments into high voltage, low voltage, and medium voltage types.

By end-user, the market divides into industries, utilities, and others.

Access Report Details @ https://www.marketresearchfuture.com/reports/series-compensation-system-market-3990

Competitive Landscape

The global series compensation system market includes a number of key players, both large and small in terms of size. Some of the key players identified by MRFR in its report are Hyosung Corporation (South Korea), Siemens AG (Germany), General Electric Company (U.S.), NR Electric Co. (China), Energe Capacitors Pvt. Ltd. (India), ABB Ltd. (Switzerland), Mitsubishi Electric Corporation (Japan), Eaton Corporation Plc (Ireland), Adani Transmission Limited (India), L&T Electrical & Automation (India), and others.

Regional Analysis

The global series compensation system market is geographically distributed across the following key regions: North America, Asia Pacific, Europe, and the Rest of the World (RoW).

The series compensation system market is projected to garner decent growth over the assessment period. A major portion of the market growth can be attributed to the Asia Pacific region. The region holds the leading position in the global landscape with the highest share percentage to its name. The regional market is further expected to grow during the forecast period and maintain its position atop of the global standings. The growth of the regional market can be attributed to the fast-paced industrialization and urbanization herein. Add to this, the rapid economic growth in major developing economies like India and China is also supporting the growth of the Asia Pacific market.

Following the Asia Pacific market stands North America with the second-highest share percentage. The established and well-developed landscape in North America is one of the primary drivers of the region. Europe is another significant market in the global standings and hold the third-largest position. Lastly, the Rest of the World regional segment is expected to garner the least share percentage over the forecast period.

Key Update

May 10th, 2019, The Adani Group is said to be holding talks with KPTL, Kalpataru Power Transmission, for the sale of the latter’s 4 transmission lines to the former’s transmission company, which is one of the largest power transmission company in India.