IGBT Based STATCOM Market by Type (Low Voltage STATCOM, High Voltage STATCOM), Applications (Renewable Energy, Electric Utilities, Industrial & Manufacturing, Others), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025

  • Publish Date: Feb, 2020
  • Report ID: 411496
  • Category: Electronics
  • Pages: 120

The global IGBT Based STATCOM market is expected to grow from USD 361.30 million in 2017 and expected to reach USD 637.21 million by 2025 at a CAGR of 7.73% during the forecast period 2018-2025. IGBT STATCOM market is expected to witness rapid growth over the forecast period, owing to growing investments in transmission & distribution infrastructures. The rising number of retrofit projects and the augmented power consumption, has led the new infrastructure projects to be endowed with huge investments. This, in turn, increases the demand for electricity, which impels the incorporation of STATCOM devices, thereby spurring the market growth.  However, high cost and various technical challenges, while operating IGBT STATCOM, is anticipated to hinder the market growth over the forecast period.

The study delivers a comprehensive analysis of type, applications, and regions. The type segment includes low voltage STATCOM and high voltage STATCOM. High voltage STATCOM segment held largest market share of 56.81% in 2017. High power Static Synchronous Compensator (STATCOM) breaks new ground in the provision of high-power density, high-redundancy reactive power compensation.  The Applications segment includes renewable energy, electric utilities, industrial & manufacturing and others. Electric utilities held the largest market share of 36.43% in 2017. The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. These regions are further analyzed at the country-level. North America held the largest market share of 36.21% in the year 2017. The North American market will witness a growing demand for IGBT STATCOM devices with a rise in investments across industrial and infrastructural development.

Key players operating in the global IGBT STATCOM market include ABB, Siemens AG, Mitsubishi Electric Corporation, General Electric Company, Comsys AB, Mersus Power, American Superconductor Corporation (AMSC),  Ingeteam Corporación, S.A, Beijing In-Power Electric Co. Ltd.,  Montnets Rongxin Technology Group Co., Ltd., Sieyuan Electric Co., Ltd, Hitachi, Ltd., and Hyosung Heavy Industries among others. To enhance their market position in the global IGBT STATCOM market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, partnership, and collaborations. In March 2017, ABB announced the launch of expert digital distribution transformers (300 kva - 10 Mva). It is a digital solution that provides asset performance analysis and ensures data accuracy.

This study forecasts revenue growth at global, regional, and country levels from 2013 to 2025. Fior Markets has segmented on the basis of below-mentioned segments:

  • Global IGBT Based STATCOM Market Analysis And Forecast, By Type
    • Low Voltage STATCOM
    • High Voltage STATCOM
  • Global IGBT Based STATCOM Market Analysis And Forecast, By Applications
    • Renewable Energy
    • Electric Utilities
    • Industrial & Manufacturing
    • Others
  • Global IGBT Based STATCOM Market Analysis And Forecast, By Regional Analysis
    • North America
    • Europe
    • Asia-Pacific
    • South America
    • Middle East And Africa

Chapter 1 Introduction 11
    1.1 Research Methodology 11
    1.2 FMR desk research 12
          1.2.1 FMR data synthesis 13
          1.2.2 Data validation and market feedback 13
          1.2.3 FMR data sources 14

Chapter 2 Global IGBT STATCOM Market Overview 16
    2.1 IGBT STATCOM Definition 16
    2.2 IGBT STATCOM Segment by Types 18
          2.2.1 Low Voltage STATCOM 18
          2.2.2 High Voltage STATCOM 20
    2.3 Global IGBT STATCOM Segment by Applications 21
          2.3.1 Renewable Energy 21
          2.3.2 Electric Utilities 21
          2.3.3 Industrial & Manufacturing 22
          2.3.4 Others 22
    2.4 Global IGBT STATCOM Market by Regions 23
          2.4.1 Global IGBT STATCOM Market Size by Regions 23
          2.4.2 North America IGBT STATCOM Status and Prospect (2013-2025) 24
          2.4.3 Europe IGBT STATCOM Status and Prospect (2013-2025) 25
          2.4.4 China IGBT STATCOM Status and Prospect (2013-2025) 26
          2.4.5 Japan IGBT STATCOM Status and Prospect (2013-2025) 27
          2.4.6 Southeast Asia IGBT STATCOM Status and Prospect (2013-2025) 28
          2.4.7 India IGBT STATCOM Status and Prospect (2013-2025) 29
    2.5 Global IGBT STATCOM Market Size 30
          2.5.1 Global IGBT STATCOM Revenue Status and Outlook (2013-2025) 30
          2.5.2 Macroscopic Indicator 31
          2.5.3 GDP for Major Regions 31
          2.5.1 Interest Rate for Major Regions 35
          2.5.2 Population and Labour Considered for Forecast 41
          2.5.3 Disposable Income Considered for Forecast 42
          2.5.4 Price of Raw Materials in Dollars: Evolution 45

Chapter 3 Global IGBT STATCOM Market Competition by Manufacturers 46
    3.1 Global IGBT STATCOM Production and Share by Manufacturers (2013-2018) 46
    3.2 Global IGBT STATCOM Revenue and Share by Manufacturers (2013-2018) 46
    3.3 Manufacturers IGBT STATCOM Manufacturing Base Distribution, Sales Area, Product Types 48
    3.4 IGBT STATCOM Market Competitive Situation and Trends 49
          3.4.1 Drivers 49
          Move towards renewable energy sources 49
          Growing Investments in Transmission & Distribution Infrastructures 50
          3.4.2 Mergers & Acquisitions, Expansion 52

Chapter 4 Global IGBT STATCOM Production by Regions (2013-2018) 54
    4.1 Global IGBT STATCOM Revenue and Market Share by Regions (2013-2018) 54

Chapter 5 Global IGBT STATCOM Revenue and Market Share by Types (2013-2018) 58

Chapter 6 Global IGBT STATCOM Manufacturers Profiles/Analysis 61
    6.1 ABB 61
          6.1.1 Company Profile 61
          6.1.2 Product Portfolio 62
          6.1.3 Recent Developments 62
          6.1.4 IGBT STATCOM Industry Revenue and Gross Margin of ABB 63
    6.2 Mitsubishi Electric Corporation 64
          6.2.1 Business Overview 64
          6.2.2 Product Portfolio 65
          6.2.3 Recent Development 65
    6.3 Siemens 66
          6.3.1 Business Overview 66
          6.3.2 Product Portfolio 67
          6.3.3 Recent Developments 68
          6.3.4 IGBT STATCOM Industry Revenue and Gross Margin of Siemens AG 68
    6.4 General Electric 69
          6.4.1 Business Overview 69
          6.4.2 Product Portfolio 69
          6.4.3 IGBT STATCOM Industry Revenue and Gross Margin of GE 70
    6.5 Comsys AB 71
          6.5.1 Business Overview 71
          6.5.2 Product Portfolio 72
          6.5.3 IGBT STATCOM Industry Revenue and Gross Margin of Comsys AB 72
    6.6 Mersus Power 73
          6.6.1 Business Overview 73
          6.6.2 Product Portfolio 73
    6.7 American Superconductor Corporation (AMSC) 74
          6.7.1 Business Overview 74
          6.7.2 Product Portfolio 75
          6.7.3 Recent Developments 75
          6.7.4 IGBT STATCOM Industry Revenue and Gross Margin of AMSC 75
    6.8 Ingeteam Corporación, S.A 76
          6.8.1 Business Overview 76
          6.8.2 Product Portfolio 76
    6.9 Beijing In-Power Electric Co. Ltd. 77
          6.9.1 Company overview 77
          6.9.2 IGBT STATCOM Industry Revenue and Gross Margin of Beijing In-Power Electric Co. Ltd 78
    6.10 Montnets Rongxin Technology Group Co., Ltd. 79
          6.10.1 Company overview 79
    6.11 Sieyuan Electric Co., Ltd 80
          6.11.1 Company overview 80
    6.12 Rongxin Power Ltd. 81
          6.12.1 Business Overview 81
          6.12.2 Product Portfolio 81
    6.13 Hitachi 82
          6.13.1 Business overview 82
          6.13.2 Product Portfolio 83
          6.13.3 IGBT STATCOM Industry Revenue and Gross Margin of Hitachi, Ltd 83
    6.14 Hyosung 84
          6.14.1 Business overview 84
          6.14.2 Product Portfolio 84
          6.14.3 IGBT STATCOM Industry Revenue and Gross Margin of Hitachi, Ltd 85

Chapter 7 IGBT STATCOM Manufacturing Cost Analysis 86
    7.1 IGBT STATCOM Key Raw Materials Analysis 86
          7.1.1 Key Raw Materials 86
          7.1.2 Price Trend of Key Raw Materials 87
          7.1.3 Key Suppliers of Raw Materials 90
    7.2 Proportion of Manufacturing Cost Structure 90
          7.2.1 Labor Cost Analysis 92
          USA Labor Cost Analysis 93
    7.3 Manufacturing Process Analysis of IGBT STATCOM 97

Chapter 8 Industrial Chain, Sourcing Strategy and Downstream Buyers 99
    8.1 Upstream Raw Materials Sourcing 99
    8.2 Distributors 100
          8.2.1 Global Economy Analysis 100
    8.3 Threat of Substitutes 101
    8.4 Consumer Needs/Customer Preference Change 101
    8.5 Economic/Political Environmental Change 101

Chapter 9 Factors Influencing 103
    9.1 Macro-Economic Factors 103
          9.1.1 Mineral and Metal 108

Chapter 10 Global IGBT STATCOM Market Forecast 111
    10.1 Global IGBT STATCOM Revenue Forecast 111
          10.1.1 Global IGBT STATCOM Revenue and Growth Rate Forecast (2018-2025) 111
    10.2 Global IGBT STATCOM Production Forecast by Regions (2018-2025) 112
          10.2.1 North America IGBT STATCOM Revenue (Million USD) Forecast (2018-2025) 112
          10.2.2 China IGBT STATCOM Revenue (Million USD) Forecast (2018-2025) 113
          10.2.3 Europe IGBT STATCOM Revenue (Million USD) Forecast (2018-2025) 114
          10.2.4 Japan IGBT STATCOM Revenue (Million USD) Forecast (2018-2025) 115
          10.2.5 Southeast Asia IGBT STATCOM Revenue (Million USD) Forecast (2018-2025) 116
          10.2.6 India IGBT STATCOM Revenue (Million USD) Forecast (2018-2025) 117
    10.3 Global IGBT STATCOM Revenue Forecast by Type (2018-2025) 118
    10.4 Global IGBT STATCOM Revenue Forecast by Application (2018-2025) 119

Chapter 11 Research Findings and Conclusion 120


Research Methodology

Market research is a method of gathering, assessing and deducing data & information about a particular market. Market research is very crucial in these days. The techniques analyze about how a product/service can be offered to the market to its end-customers, observe the impact of that product/service based on the past customer experiences, and cater their needs and demands. Owing to the successful business ventures, accurate, relevant and thorough information is the base for all the organizations because market research report/study offers specific market related data & information about the industry growth prospects, perspective of the existing customers, and the overall market scenario prevailed in past, ongoing present and developing future. It allows the stakeholders and investors to determine the probability of a business before committing substantial resources to the venture. Market research helps in solving the marketing issues challenges that a business will most likely face.

Market research is valuable because of the following reasons:

  • Market research helps businesses strengthen a company’s position
  • Market research helps in minimizing the investment risks associated with the businesses in any industry vertical
  • Market research helps in identifying the potential threats and opportunities associated with the business industry
  • Market research aids in spotting the emerging trends and facilitates strategic planning in order to stay ahead in the competition

Our research report features both the aspects; qualitative and quantitative. Qualitative part provides insights about the market driving forces, potential opportunities, customer’s demands and requirement which in turn help the companies to come up with new strategies in order to survive in the long run competition. The quantitative segment offers the most credible information related to the industry. Based on the data gathering, we use to derive the market size and estimate their future growth prospects on the basis of global, region and country.

Our market research process involves with the four specific stages.

  • Data Collection
  • Data Synthesis
  • Market Deduction & Formulation
  • Data Screening & Validation

Data Collection: This stage of the market research process involves with the gathering and collecting of the market/industry related data from the sources. There are basically two types of research methods:

  • Primary Research: By conducting primary research, it involves with the two types of data gathering; exploratory and specific. Exploratory data is open-ended and helps us to define a particular problem involving surveys, and pilot study to the specific consumer group, knowing their needs and wants catering to the industry related product/service offering. Explanatory data gathering follows with the bit of unstructured way. Our analyst group leads the study by focusing on the key crowd, in this manner picking up bits of knowledge from them. In light of the points of view of the clients, this data is used to plan advertise techniques. In addition, showcase overviews causes us to comprehend the current scenario of the business. Specific data gathering on the hand, involves with the more structured and formal way. The primary research usually includes in telephonic conversations, E-mail collaborations and up close and personal meetings/interviews with the raw material suppliers, industrial wholesalers, and independent consultants/specialists. The interviews that we conduct offers important information on showcase size and industry development patterns. Our company likewise conducts interviews with the different business specialists so as to increase generally bits of knowledge of the business/showcase.
  • Secondary Research: The secondary research incorporates with the data gathering from the non-profit associations and organizations, for example, World bank, WHO, investor relations and their presentations, statistical databases, yearly(annual reports) reports, national government records, factual databases, websites, articles, white papers, press releases, blogs and others. From the annual report, we deduce an organization's income/revenue generation to comprehend the key product segment related to the market. We examine the organization sites and implement product mapping strategy which is significant for determining the segment revenue. In the product mapping technique, we choose and categorize the products offered by the companies catering to the industry specific market, derive the segment revenue for each of the organizations to get the market estimation. We also gather data & Information based on the supply and demand side of the value chain involved with the domain specific market. The supply side denotes the distributors, wholesalers, suppliers and the demand side denotes the end-consumers/customers of the value chain. The supply side of the market is analyzed by examining the product growth across industry in each of the region followed by its pricing analysis. The demand side is analyzed by the evaluating the penetration level and adoption rates of the product by referring to the historical/past data, examine the present usage and forecasting the future trends. 
  • Purchased Database: Our purchased data provides insights about the key market players/companies along with their financial analysis. Additionally, our data base also includes market related information. 
    • We also have the agreements with various reputed data providers, consultants and third party vendors who provide information which are not limited to:
      • Export & Import Data
      • Business Information related to trade and its statistics
      • Penetration level of a particular product/service based on geography mainly focusing on the unmet prerequisites of the customers.
  • In-house Library: Apart from these third-party sources, we have our in-house library of quantitative and qualitative data & information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, internal audit reports, historic databases, archives and journal publications. Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those particular cases, we utilize our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopts a robust research technique in order to deduce the market size and its estimates:
  • Examining demographic along with psychographic segmentation for market evaluation
  • Analyzing the macro and micro-economic indicators for each demography
  • Evaluating the current industry trends popular in the market.

Data Synthesis: This stage includes the evaluation and assessment of all the data acquired from the primary and secondary research. It likewise includes in evaluating the information for any disparity watched while information gathering identified with the market. The data & information is gathered with consideration to the heterogeneity of sources. Scientific and statistical methods are implemented for synthesizing dissimilar information sets and provide the relevant data which is fundamental for formulating strategies. Our organization has broad involvement with information amalgamation where the information goes through different stages:

  • Information Screening: Information screening is the way toward examining information/data gathered from the sources for errors/mistakes and amending it before data integration process. The screening includes in looking at raw information, identifying and distinguishing mistakes and managing missing information. The reason for the information screening is to ensure information is effectively entered or not. Our organization utilizes objective and precise information screening grades through repetitive quality checks.
  • Data Integration: The data integration method involves with the incorporation of numerous information streams. The data streams is important so as to deliver investigate examines that give overall market scenario to the investors. These information streams originate from different research contemplates and our in house database. After the screening of the information, our analysts conduct efficient integration of the data streams, optimizing connections between integrated surveys and syndicated data sources. There are two research approaches that we follow so as to coordinate our information; top down methodology and bottom up methodology. 
    • Top-down analysis generally refers to using broad factors as a basis for decision making. The top-down approach helps in identifying the overall market scenario along with the external and internal factors effecting the market growth.
    • The bottom-up approach takes a completely different approach. Generally, the bottom-up approach focuses its analysis on micro attributes and specific characteristics of the domain specific market.

Market Formulation & Deduction: The last stage includes assigning the data & information in a suitable way in order to derive market size. Analyst reviews and domain based opinions based on holistic approach of market estimation combined with industry investigation additionally features a crucial role in this stage.

This stage includes with the finalization of the market size and numbers that we have gathered from primary and secondary research. With the data & information addition, we ensure that there is no gap in the market information. Market trend analysis is finished by our analysts by utilizing data extrapolation procedures, which give the most ideal figures to the market.

Data Validation: Validation is the most crucial step in the process. Validation & re-validation through scientifically designed technique and process that helps us finalize data-points to be used for final calculations. This stage also involves with the data triangulation process. Data triangulation generally implicates the cross validation and matching the data which has been collected from primary and secondary research methods.

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