Static Synchronous Compensator Statcom Market Expected to Reach USD 1.95 Billion by 2032, Driven by Power Grid Modernization https://dataintelo.com/report/global-static-synchronous-compensator-statcom-market The Static Synchronous Compensator Statcom Market is gaining significant momentum globally. Valued at USD 900 million in 2023, it is projected to reach USD 1.95 billion by 2032, growing at a robust CAGR of 8.7% during the forecast period. The push for grid reliability and the integration of renewable energy sources are key growth drivers. A STATCOM (Static Synchronous Compensator) is a voltage regulation device used in high-voltage power transmission networks. It provides reactive power compensation and stabilizes voltage fluctuations—critical for maintaining power quality, especially in grids with fluctuating loads or intermittent renewable energy sources