Product Code: A10591
The global synchronous condenser market was valued at $568.9 million in 2020, and is projected to reach $751.0 million by 2030, growing at a CAGR of 2.8% from 2021 to 2030.
Synchronous condenser is a device that converts electrical power to mechanical power and vice-versa. This device is used to adjust the stability conditions occurs on electrical utilities such as generation, transmission, and distribution networks. The control of electric field of synchronous condenser is done with the help of voltage regulator to generate or absorb the reactive power in improving power factor of grid.
Rise in demand for power factor correction and reactive power compensation across the globe is a key factor driving the growth of the global synchronous condenser market during the forecast period. In addition, rapid increase in renewable power integration significantly contributes toward the growth of the global synchronous condenser market from 2021 to 2030. However, high cost associated with synchronous condensers and availability of alternatives to synchronous condensers are expected to hamper the growth of the market, globally. Conversely, technological advancements in synchronous condensers along with increase in demand for synchronous condensers from HVDC network and conversion of synchronous generators to synchronous condensers are expected to create potential growth opportunity for key player operating in this market.
The global synchronous condensers market is segmented into type, cooling type, starting method, end user, reactive power rating, and region. Depending on type, the market is categorized into new and refurbished. On the basis of cooling type, it is bifurcated into air cooled, water cooled, and hydrogen cooled. As per starting method, it is classified into static frequency converter, pony motor, and others. The end users covered in the study include electric utilities and industrial. By reactive power rating, the market is fragmented into up to 100 MVAR, 100-200 MVAR, and above 200 MVAR. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- The report includes in-depth analysis of different segments and provides market estimations between 2021 and 2030.
- A comprehensive analysis of the factors that drive and restrict the growth of the global synchronous condenser market is provided.
- Porter's five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
- Estimations and forecast are based on factors impacting the global synchronous condenser market growth, in terms of value.
- Key market players are profiled to gain an understanding of the strategies adopted by them.
- This report provides a detailed analysis of the current trends and future estimations from 2021 to 2030, which helps identify the prevailing market opportunities.
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KEY MARKET SEGMENTS
By Type
By Cooling Type
- Air-cooled
- Water-cooled
- Hydrogen-cooled
By Starting Method
- Static Frequency Converter
- Pony Motors
- Others
By Reactive Power Rating
- Up to 100 MVAR
- 100-200 MVAR
- Above 200 MVAR
By End User
- Electrical Utilities
- Industrial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- ABB, Ltd.
- Andritz
- Eaton Corporation Plc
- Fuji Electric
- General Electric
- Ideal Electric Power Co.
- Mitsubishi Electric Corporation
- Siemens Energy
- Voith GmbH & Co. KGaA
- WEG Group.
- Other companies operating in the synchronous condenser market are Toshiba Corporation, Brush Group, Sustainable Power Systems, Inc., Power Systems & Controls, Inc., Ansaldo Energia, and Modern Power Systems.
TABLE OF CONTENTS
CHAPTER 1:INTRODUCTION
- 1.1.Report description
- 1.2.Key benefits for stakeholders
- 1.3.Key market segments
- 1.4.Research methodology
- 1.4.1.Primary research
- 1.4.2.Secondary research
- 1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
- 2.1.Key findings
- 2.2.CXO perspective
CHAPTER 3:MARKET OVERVIEW
- 3.1.Market definition and scope
- 3.2.Key forces shaping the market
- 3.3.Value chain analysis
- 3.4.Top investment pockets
- 3.5.Patent analysis
- 3.5.1.By region, 2013-2019
- 3.6.Market dynamics
- 3.6.1.Drivers
- 3.6.1.1.Rise in demand for power factor correction and reactive power compensation
- 3.6.1.2.Rapid Growth in Renewable Power Integration
- 3.6.2.Restraints
- 3.6.2.1.High cost associated with Synchronous Condensers
- 3.6.2.2.Availability of alternatives
- 3.6.3.Opportunity
- 3.6.3.1.Rapid growth of HVDC network
- 3.6.3.2.Transition of synchronous generator to synchronous condenser
- 3.7.Impact of COVID-19 outbreak on the market
CHAPTER 4:SYNCHRONOUS CONDENSER MARKET, BY TYPE
- 4.1.Overview
- 4.1.1.Market size and forecast
- 4.2.New
- 4.2.1.Key market trends, growth factors, and opportunities
- 4.2.2.Market size and forecast, by region
- 4.2.3.Market share analysis, by country
- 4.3.Refurbished
- 4.3.1.Key market trends, growth factors, and opportunities
- 4.3.2.Market size and forecast, by region
- 4.3.3.Market share analysis, by country
CHAPTER 5:SYNCHRONOUS CONDENSER MARKET, BY COOLING TYPE
- 5.1.Overview
- 5.1.1.Market size and forecast
- 5.2.Air-Cooled
- 5.2.1.Key market trends, growth factors, and opportunities
- 5.2.2.Market size and forecast, by region
- 5.2.3.Market share analysis, by country
- 5.3.Water-Cooled
- 5.3.1.Key market trends, growth factors, and opportunities
- 5.3.2.Market size and forecast, by region
- 5.3.3.Market share analysis, by country
- 5.4.Hydrogen-Cooled
- 5.4.1.Key market trends, growth factors, and opportunities
- 5.4.2.Market size and forecast, by region
- 5.4.3.Market share analysis, by country
CHAPTER 6:SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD
- 6.1.Overview
- 6.1.1.Market size and forecast
- 6.2.Static Frequency Converter
- 6.2.1.Key market trends, growth factors, and opportunities
- 6.2.2.Market size and forecast, by region
- 6.2.3.Market share analysis, by country
- 6.3.Pony motor
- 6.3.1.Key market trends, growth factors, and opportunities
- 6.3.2.Market size and forecast, by region
- 6.3.3.Market share analysis, by country
- 6.4.Others
- 6.4.1.Key market trends, growth factors, and opportunities
- 6.4.2.Market size and forecast, by region
- 6.4.3.Market share analysis, by country
CHAPTER 7:SYNCHRONOUS CONDENSER MARKET, BY END USER
- 7.1.Overview
- 7.1.1.Market size and forecast
- 7.2.Electric Utilities
- 7.2.1.Key market trends, growth factors, and opportunities
- 7.2.2.Market size and forecast, by region
- 7.2.3.Market share analysis, by country
- 7.3.Industries
- 7.3.1.Key market trends, growth factors, and opportunities
- 7.3.2.Market size and forecast, by region
- 7.3.3.Market share analysis, by country
CHAPTER 8:SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING
- 8.1.Overview
- 8.1.1.Market size and forecast
- 8.2.Up to 100 MVAR
- 8.2.1.Key market trends, growth factors, and opportunities
- 8.2.2.Market size and forecast, by region
- 8.2.3.Market share analysis, by country
- 8.3.100-200 MVAR
- 8.3.1.Key market trends, growth factors, and opportunities
- 8.3.2.Market size and forecast, by region
- 8.3.3.Market share analysis, by country
- 8.4.More than 200 MVAR
- 8.4.1.Key market trends, growth factors, and opportunities
- 8.4.2.Market size and forecast, by region
- 8.4.3.Market share analysis, by country
CHAPTER 9:SYNCHRONOUS CONDENSER MARKET, BY REGION
- 9.1.Overview
- 9.1.1.Market size and forecast
- 9.2.North America
- 9.2.1.Key market trends, growth factors, and opportunities
- 9.2.2.Market size and forecast, by type
- 9.2.3.Market size and forecast, by cooling type
- 9.2.4.Market size and forecast, by starting method
- 9.2.5.Market size and forecast, by end user
- 9.2.6.Market size and forecast, by reactive power rating
- 9.2.7.Market share analysis, by country
- 9.2.8.The U.S.
- 9.2.8.1.Market size and forecast, by type
- 9.2.8.2.Market size and forecast, by cooling type
- 9.2.8.3.Market size and forecast, by starting method
- 9.2.8.4.Market size and forecast, by end user
- 9.2.8.5.Market size and forecast, by reactive power rating
- 9.2.9.Canada
- 9.2.9.1.Market size and forecast, by type
- 9.2.9.2.Market size and forecast, by cooling type
- 9.2.9.3.Market size and forecast, by starting method
- 9.2.9.4.Market size and forecast, by end user
- 9.2.9.5.Market size and forecast, by reactive power rating
- 9.2.10.Mexico
- 9.2.10.1.Market size and forecast, by type
- 9.2.10.2.Market size and forecast, by cooling type
- 9.2.10.3.Market size and forecast, by starting method
- 9.2.10.4.Market size and forecast, by end user
- 9.2.10.5.Market size and forecast, by reactive power rating
- 9.3.Europe
- 9.3.1.Key market trends, growth factors, and opportunities
- 9.3.2.Market size and forecast, by type
- 9.3.3.Market size and forecast, by cooling type
- 9.3.4.Market size and forecast, by starting method
- 9.3.5.Market size and forecast, by end user
- 9.3.6.Market size and forecast, by reactive power rating
- 9.3.7.Market share analysis, by country
- 9.3.8.Germany
- 9.3.8.1.Market size and forecast, by type
- 9.3.8.2.Market size and forecast, by cooling type
- 9.3.8.3.Market size and forecast, by starting method
- 9.3.8.4.Market size and forecast, by end user
- 9.3.8.5.Market size and forecast, by reactive power rating
- 9.3.9.France
- 9.3.9.1.Market size and forecast, by type
- 9.3.9.2.Market size and forecast, by cooling type
- 9.3.9.3.Market size and forecast, by starting method
- 9.3.9.4.Market size and forecast, by end user
- 9.3.9.5.Market size and forecast, by reactive power rating
- 9.3.10.UK
- 9.3.10.1.Market size and forecast, by type
- 9.3.10.2.Market size and forecast, by cooling type
- 9.3.10.3.Market size and forecast, by starting method
- 9.3.10.4.Market size and forecast, by end user
- 9.3.10.5.Market size and forecast, by reactive power rating
- 9.3.11.Italy
- 9.3.11.1.Market size and forecast, by type
- 9.3.11.2.Market size and forecast, by cooling type
- 9.3.11.3.Market size and forecast, by starting method
- 9.3.11.4.Market size and forecast, by end user
- 9.3.11.5.Market size and forecast, by reactive power rating
- 9.3.12.Spain
- 9.3.12.1.Market size and forecast, by type
- 9.3.12.2.Market size and forecast, by cooling type
- 9.3.12.3.Market size and forecast, by starting method
- 9.3.12.4.Market size and forecast, by end user
- 9.3.12.5.Market size and forecast, by reactive power rating
- 9.3.13.Rest of Europe
- 9.3.13.1.Market size and forecast, by type
- 9.3.13.2.Market size and forecast, by cooling type
- 9.3.13.3.Market size and forecast, by starting method
- 9.3.13.4.Market size and forecast, by end user
- 9.3.13.5.Market size and forecast, by reactive power rating
- 9.4.Asia-Pacific
- 9.4.1.Key market trends, growth factors, and opportunities
- 9.4.2.Market size and forecast, by type
- 9.4.3.Market size and forecast, by cooling type
- 9.4.4.Market size and forecast, by starting method
- 9.4.5.Market size and forecast, by end user
- 9.4.6.Market size and forecast, by reactive power rating
- 9.4.7.Market share analysis, by country
- 9.4.8.China
- 9.4.8.1.Market size and forecast, by type
- 9.4.8.2.Market size and forecast, by cooling type
- 9.4.8.3.Market size and forecast, by starting method
- 9.4.8.4.Market size and forecast, by end user
- 9.4.8.5.Market size and forecast, by reactive power rating
- 9.4.9.Japan
- 9.4.9.1.Market size and forecast, by type
- 9.4.9.2.Market size and forecast, by cooling type
- 9.4.9.3.Market size and forecast, by starting method
- 9.4.9.4.Market size and forecast, by end user
- 9.4.9.5.Market size and forecast, by reactive power rating
- 9.4.10.India
- 9.4.10.1.Market size and forecast, by type
- 9.4.10.2.Market size and forecast, by cooling type
- 9.4.10.3.Market size and forecast, by starting method
- 9.4.10.4.Market size and forecast, by end user
- 9.4.10.5.Market size and forecast, by reactive power rating
- 9.4.11.Australia
- 9.4.11.1.Market size and forecast, by type
- 9.4.11.2.Market size and forecast, by cooling type
- 9.4.11.3.Market size and forecast, by starting method
- 9.4.11.4.Market size and forecast, by end user
- 9.4.11.5.Market size and forecast, by reactive power rating
- 9.4.12.South Korea
- 9.4.12.1.Market size and forecast, by type
- 9.4.12.2.Market size and forecast, by cooling type
- 9.4.12.3.Market size and forecast, by starting method
- 9.4.12.4.Market size and forecast, by end user
- 9.4.12.5.Market size and forecast, by reactive power rating
- 9.4.13.Rest of Asia-Pacific
- 9.4.13.1.Market size and forecast, by type
- 9.4.13.2.Market size and forecast, by cooling type
- 9.4.13.3.Market size and forecast, by starting method
- 9.4.13.4.Market size and forecast, by end user
- 9.4.13.5.Market size and forecast, by reactive power rating
- 9.5.LAMEA
- 9.5.1.Key market trends, growth factors, and opportunities
- 9.5.2.Market size and forecast, by type
- 9.5.3.Market size and forecast, by cooling type
- 9.5.4.Market size and forecast, by starting method
- 9.5.5.Market size and forecast, by end user
- 9.5.6.Market size and forecast, by reactive power rating
- 9.5.7.Market share analysis, by country
- 9.5.8.Latin America
- 9.5.8.1.Market size and forecast, by type
- 9.5.8.2.Market size and forecast, by cooling type
- 9.5.8.3.Market size and forecast, by starting method
- 9.5.8.4.Market size and forecast, by end user
- 9.5.8.5.Market size and forecast, by reactive power rating
- 9.5.9.Middle East
- 9.5.9.1.Market size and forecast, by type
- 9.5.9.2.Market size and forecast, by cooling type
- 9.5.9.3.Market size and forecast, by starting method
- 9.5.9.4.Market size and forecast, by end user
- 9.5.9.5.Market size and forecast, by reactive power rating
- 9.5.10.Africa
- 9.5.10.1.Market size and forecast, by type
- 9.5.10.2.Market size and forecast, by cooling type
- 9.5.10.3.Market size and forecast, by starting method
- 9.5.10.4.Market size and forecast, by end user
- 9.5.10.5.Market size and forecast, by reactive power rating
CHAPTER 10:COMPETITIVE LANDSCAPE
- 10.1.Introduction
- 10.1.1.Market Player Positioning, 2020
- 10.2.Top winning strategies
- 10.2.1.Top winning strategies, by year
- 10.2.2.Top winning strategies, by development
- 10.2.3.Top winning strategies, by company
- 10.3.Product Mapping of Top 10 Player
- 10.4.Competitive Heatmap
- 10.5.Key developments
- 10.5.1.Agreements
- 10.5.2.Collaboration
CHAPTER 11:COMPANY PROFILES
- 11.1.ABB, LTD.
- 11.1.1.Company overview
- 11.1.2.Key executives
- 11.1.3.Company snapshot
- 11.1.4.Operating business segments
- 11.1.5.Product portfolio
- 11.1.6.Business performance
- 11.1.7.Key strategic moves and developments
- 11.2.Andritz
- 11.2.1.Company overview
- 11.2.2.Key executives
- 11.2.3.Company snapshot
- 11.2.4.Operating business segments
- 11.2.5.Product portfolio
- 11.2.6.Business performance
- 11.2.7.Key strategic moves and developments
- 11.3.Eaton Corporation plc
- 11.3.1.Company overview
- 11.3.2.Key executives
- 11.3.3.Company snapshot
- 11.3.4.Operating business segments
- 11.3.5.Product portfolio
- 11.3.6.Business performance
- 11.4.Fuji Electric
- 11.4.1.Company overview
- 11.4.2.Key executives
- 11.4.3.Company snapshot
- 11.4.4.Operating business segments
- 11.4.5.Product portfolio
- 11.4.6.Business performance
- 11.5.GENERAL ELECTRIC
- 11.5.1.Company overview
- 11.5.2.Key executives
- 11.5.3.Company snapshot
- 11.5.4.Operating business segments
- 11.5.5.Product portfolio
- 11.5.6.Business performance
- 11.5.7.Key strategic moves and developments
- 11.6.Ideal Electric Power Co.
- 11.6.1.Company overview
- 11.6.2.Key executives
- 11.6.3.Company snapshot
- 11.6.4.Product portfolio
- 11.7.Mitsubishi Electric Corporation
- 11.7.1.Company overview
- 11.7.2.Key executives
- 11.7.3.Company snapshot
- 11.7.4.Operating business segments
- 11.7.5.Product portfolio
- 11.7.6.Business performance
- 11.8.Siemens Energy
- 11.8.1.Company overview
- 11.8.2.Key executives
- 11.8.3.Company snapshot
- 11.8.4.Operating business segments
- 11.8.5.Product portfolio
- 11.8.6.Business performance
- 11.8.7.Key strategic moves and developments
- 11.9.Voith GmbH & Co. KGaA
- 11.9.1.Company overview
- 11.9.2.Key executives
- 11.9.3.Company snapshot
- 11.9.4.Operating business segments
- 11.9.5.Product portfolio
- 11.9.6.Business performance
- 11.10.WEG Group
- 11.10.1.Company overview
- 11.10.2.Key executives
- 11.10.3.Company snapshot
- 11.10.4.Operating business segments
- 11.10.5.Product portfolio
- 11.10.6.Business performance