The report predicts the Global Static VAR Compensator market to grow with a CAGR of 4.23% over the period of 2017 - 2024. The global market for Static VAR Compensator at $710.6 million in 2017 is anticipated to reach $946 million in 2024. SVC market is estimated to witness an upsurge due to growing focus on electric utility spending and development of advanced technologies for renewable resources. What is Static VAR Compensator? Static VAR Compensator, is a set of devices which stabilize voltage output in order to maintain or control few specific parameters required for the Industrial application. The device is variable impedance in which the current flows through the device is controlled by bidirectional thyristor valves. SVC consists of two main combinational components such as: Thyristor-controlled Reactor and Thyristor switched reactor and Thyristor switched Capacitor. Request Sample What are the major applications of Static VAR Compensator? The primary application of SVC is ...