Synchronous Condenser Market Research Report

 

Global Synchronous Condenser Market by type and by region

The GMI Research contemplates that the Synchronous Condenser Market will oversee an increasing demand over the forecast period. This is because of their aggravating endorsement of consumers by the electric utility industry, accelerating the number of novel installations and modification of existent power plants.

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Introduction of the Synchronous Condenser Market

As per the Synchronous Condenser Market Forecast, synchronous Condenser or Compensator is a motor operating without mechanical load. It assimilates reactive volt-ampere (VAr) by changing the agitation of its field winding. In addition, it has the potential to engender up to 150% extra vars and acts as a substitute to capacitor banks.

Key Players of Market:

  • ABB
  • Ideal Electric
  • WEG
  • Siemens AG
  • Ansaldo Energia
  • Voith Group
  • Fuji Electric Co., Ltd.
  • General Electric
  • Eaton Corporation
  • Electromechanical Engineering Associates

Synchronous Condenser Market Dynamics

The augmenting demand for sustainable power engendering, enlarged service life, and growing need for power factor correction (PFC) are the prime factors surging the growth of the global Synchronous Condenser market. In addition, the power plants are capitalizing synchronous condensers as bottlenecks for renewables to control voltage strength with weak electric grids as a result of the rising proficiency of wind and hydropower generation. Also, the intensified insertion of solar panels in countries such as China and the US is further strengthening the market growth. Besides this, the inconstancy and modification of synchronous generator to condenser and up-gradation of high-voltage direct current (HVDC) network will impel the market growth. However, the excessive cost of maintenance and device has hindered the Synchronous Condenser market opportunities.

Cooling Type Segment Drivers

Based on the Cooling Type, hydrogen-cooled is predicted to witness higher growth over the coming years. This is because of the growing endorsement of hydrogen-cooled synchronous condensers across medium to large condensers units ranging between 100 and 300 MVA.

Starting Model Segment Drivers

Based on the Starting Method, the static frequency convertor is anticipated to bolster at a notable rate over the next few years. This is because of their remarkable features, such as low capacity, high dependence, and less noise.

Geographical Drivers

Based on the regional coverage, North America is likely to capture the largest share in the market over the forecast period. This is because of the acceleration in the number of new installations and transformation of existent power plants to synchronous condensers in the US and rising demand for the synchronous condenser in Canada, propelling the Synchronous Condenser Market Size.

Synchronous Condenser Market Segmentation:

Segmentation by Type
  • New Synchronous Condenser
  • Refurbished Synchronous Condenser
Segmentation by Cooling Type
  • Hydrogen-Cooled
  • Air-Cooled
  • Water-Cooled
Segmentation by Starting Method
  • Static Frequency Converter
  • Pony Motor
  • Others
Segmentation by Reactive Power Rating
  • Up to 100 MVAr Synchronous Condenser
  • 100–200 MVAr Synchronous Condenser
  • Above 200 MVAr Synchronous Condenser
Segmentation Market by End-User
  • Electrical Utilities
  • Industries
Segmentation by Region:
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • RoW
    • UAE
    • Brazil
    • South Africa
    • Saudi Arabia

About GMI Research

GMI is a consulting and market research company emphasising on accumulating all desired information about various industries with both external and internal databases. The enterprise imparts perception and research reports to help clients understand the approaching challenges and chances across different sectors. The team of analysts and experts assist in interpreting the influence of dynamics such as drivers, share, size, growth opportunities, and other aspects. We proffer a complete guidance to our clients to grab a supervisory decision.

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Contact Person: Sarah Nash
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