According to TechSci Research report, “STATCOM for Renewable Energy Market – Global Industry Size, Share, Trends, Competition Forecast Opportunities, 2020-2030F”, The Global STATCOM for Renewable Energy Market was valued at USD 500.12 Million in 2024 and is expected to reach USD 1,093.14 Million by 2030 with a CAGR of 13.75% during the forecast period. A key trend in the STATCOM market is its growing integration with battery energy storage systems (BESS).
Combining STATCOM with storage enhances grid flexibility, enabling both reactive power support and active power management. In 2023, over 22% of new STATCOM installations were paired with storage systems in hybrid configurations. This dual functionality allows renewable plants to meet grid requirements for frequency regulation, fault ride-through, and black-start capabilities. For example, large hybrid solar-plus-storage plants in the U.S. and India have already demonstrated reductions in curtailment of up to 15% due to STATCOM+BESS solutions.
Additionally, the integration of STATCOM with lithium-ion and flow battery technologies has reduced response times to less than 50 milliseconds, making it one of the fastest solutions for grid stabilization. Analysts project that by 2030, nearly 40% of utility-scale storage projects will feature STATCOM integration as grid codes become stricter worldwide. This trend highlights the increasing synergy between renewable integration, storage, and advanced compensation technologies.
Offshore wind energy, with its large-scale generation and remote locations, is driving STATCOM demand. Offshore projects face unique challenges such as long transmission distances and voltage instability in submarine cables. In 2023, over 35% of offshore wind farms in Europe integrated STATCOM solutions for reactive power support. In Asia, where offshore capacity is expanding rapidly, more than 20 GW of new offshore projects announced between 2024 and 2027 are expected to use STATCOM systems.
Offshore installations demand high-voltage, compact STATCOM units that can operate in harsh marine environments. The trend is particularly strong in China, which installed over 5 GW of offshore wind in 2023 alone, with STATCOM playing a vital role in grid integration. As offshore wind is expected to provide nearly 10% of global electricity by 2035, the alignment between this sector and STATCOM technologies is becoming more pronounced.
Based on Type, Medium Voltage STATCOM is the fastest growing segment in the global STATCOM for Renewable Energy market during the forecast period, driven by the increasing integration of renewable energy into power distribution networks. As solar, wind, and hybrid renewable plants expand globally, the need for stable grid operations at distribution and sub-transmission levels is intensifying. Medium voltage STATCOMs provide essential functionalities such as reactive power compensation, voltage regulation, and power quality improvement, which are critical for renewable energy systems characterized by fluctuating generation patterns.
These systems are particularly suitable for renewable plants ranging between 1 MW and 50 MW, which typically operate in rural or semi-urban areas where medium voltage grids are prevalent. Rising investments in distributed renewable energy projects, such as rooftop solar, wind farms, and hybrid mini-grids, are accelerating the demand for medium voltage STATCOM solutions. Additionally, governments and utilities are prioritizing grid modernization to enhance efficiency and reduce losses, which further supports medium voltage STATCOM adoption.
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Another growth driver is the cost-effectiveness and scalability of medium voltage STATCOMs compared to their high-voltage counterparts. They allow utilities, industrial users, and renewable developers to achieve efficient grid integration at relatively lower investment levels, ensuring higher returns. Moreover, advancements in modular STATCOM design and digital monitoring technologies are making medium voltage systems easier to deploy, operate, and maintain.
The growing need for reliable and stable power in industries such as manufacturing, mining, and data centers—often powered by renewable energy—also contributes to the segment’s expansion. As global energy transition accelerates, medium voltage STATCOMs will continue to play a pivotal role in balancing renewable intermittency, reducing grid instability, and ensuring a resilient energy infrastructure.
Based on region, Asia Pacific is the fastest growing region in the Global STATCOM for Renewable Energy Market during the forecast period driven by rapid renewable energy adoption, increasing electricity demand, and large-scale infrastructure expansion. Countries such as China, India, Japan, and Australia are spearheading renewable deployment, investing heavily in wind and solar power projects to reduce carbon emissions and achieve national energy transition goals.
With renewable penetration rising, grid stability challenges are becoming more pronounced, creating strong demand for STATCOM solutions to manage voltage fluctuations and enhance reliability. China, the world’s largest renewable energy market, continues to expand its solar and wind capacity, supported by favorable government policies and subsidies. This surge in variable renewable generation necessitates advanced grid support technologies like STATCOM to maintain stability across large and complex transmission networks.
Similarly, India’s ambitious renewable targets of 500 GW by 2030 are fueling grid modernization projects, with STATCOM deployment being prioritized for renewable integration and rural electrification. Japan and South Korea are also driving demand, as their grids face challenges from distributed solar installations and offshore wind projects. In Australia, the rapid growth of solar farms and hybrid renewable projects is pushing utilities to adopt STATCOM to manage intermittency and power quality issues in remote regions.
Additionally, Asia Pacific’s expanding industrial base and urbanization are increasing electricity consumption, requiring robust power infrastructure. Governments and private players are investing in smart grids and flexible transmission systems, where STATCOM plays a critical role in enhancing dynamic response. Lower manufacturing costs and technological expertise in countries like China and India also contribute to competitive pricing and faster adoption of STATCOM solutions.
Key market players in the Global STATCOM for Renewable Energy market are:
ABB Ltd.
Siemens AG
General Electric
Mitsubishi Electric Corporation
Hitachi Energy
Schneider Electric
NR Electric Co., Ltd.
SC Electric Company
Ingeteam S.A.
Bharat Heavy Electricals Limited
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“The Global STATCOM for Renewable Energy Market presents significant opportunities with accelerating renewable integration, especially in solar, wind, and hybrid systems. Expanding grid modernization programs, rural electrification projects, and rising demand for reliable power quality open pathways for STATCOM adoption. Opportunities lie in modular, medium-voltage solutions for distributed renewables, and digital-enabled STATCOMs offering real-time monitoring and predictive maintenance.
Moreover, growing investments in smart grids, energy storage coupling, and offshore wind projects provide long-term prospects. Emerging markets in Asia Pacific, Africa, and Latin America offer substantial untapped potential, supported by government incentives, decarbonization goals, and increasing electricity consumption.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based Global management consulting firm.
“STATCOM for Renewable Energy Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Low Voltage STATCOM, Medium Voltage STATCOM, High Voltage STATCOM), By Connectivity (On-Grid, Off-Grid), By Application (Utilities Grid Operators, Industrial Commercial, Residential), By Region, and By Competition, 2020-2030F,” has evaluated the future growth potential of Global STATCOM for Renewable Energy Market and provides statistics information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global STATCOM for Renewable Energy Market.
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