Synchronous Condenser Market is segmented by Cooling Type (Hydrogen, Air, and Water), Reactive Power Rating (Up to 100 MVAr, Between 100-200 MVAr, & Above 200 MVAr), Type (New, Refurbished), Starting Method (Static Frequency Converter, Pony Motor, Others), End User (Electrical Utilities, Industries), Region (North America, Europe, Asia-Pacific and Rest of World) and by Global Forecast to 2023.
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The report offers insights on the leading market players and evaluates their current market share. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report.
Key Industry Players In Synchronous Condenser Market Studied in Report Are:
Siemens AG (Germany), General Electric (U.S.), Eaton Co. Plc. (Ireland), ABB Ltd. (Switzerland), Voith GmbH (Germany), Fuji Electric Co., Ltd. (Japan), Toshiba Corporation (Japan), Hyundai Ideal Electric Co. (U.S.), Sustainable Power Systems LLC. (USA), WEG Industries (Brazil), Electro Mechanical Engineering Associates (USA), Power Systems and Control (USA) among others.
Report Overview:
This MRFR market perspective delivers a detailed commentary on the global market for Synchronous Condenser. It also sheds light on the current market trends, Size, share as well as gives a viewpoint on the historical and forecast growth pattern of the market and its prospects over 2023.
A synchronous condenser is an identical device to a synchronous motor, whose main shaft is not interlinked with any other device but has free spin. Its main application is to adjust conditions on the electric power transmission grid. Voltage regulator controls its field to generate or absorb reactive power as needed to reduce the fluctuating grid’s voltage, or to improve power factor.
Increase in electric power consumption and growing need to increase transmission capacity are becoming important in current market. Also, increase in renewable power generation, retiring conventional power plants, and increasing need of High-Voltage-Direct-Current (HVDC) has a substantial effect on stability of transmission grid. Synchronous condensers play a key role by generating leading and lagging reactive power resulting to stabilize the transmission grid. Its main advantages are short-circuiting power capability, no harmonics are generated and provides inertia to the transmission grid. The key driving factors for this market is the large-scale demand by utilities for high-capacity synchronous condensers, also power generated from renewable sources is of fluctuating nature and needs power factor correction to maintain voltage stability and durability of synchronous condenser among others.
Market Segmentation:
Synchronous Condenser Market by Cooling Type (Hydrogen, Air, and Water), Reactive Power Rating (Up to 100 MVAr, Between 100-200 MVAr, & Above 200 MVAr), Type (New, Refurbished), Starting Method (Static Frequency Converter, Pony Motor, Others), End User (Electrical Utilities, Industries), Region (North America, Europe, Asia-Pacific and Rest of World) and by Global Forecast to 2023.
Regional Analysis:
The global synchronous condenser market begins with the tendering for HVDC network and substations. The tender is then scrutinized by the contractors/manufacturers for new units or replacement of conventional power plants. The delivering services, in addition, accommodate a new synchronous condenser unit, ancillary components for renovation or alteration. Further step is installation of new units or alteration to synchronous condenser mode. Repair and maintenance is the following step which includes scheduled maintenance, repairs, renovations and alterations.
The synchronous condensers market in North America is projected to grow at the fastest rate during the forecast period. Gradual termination of conventional thermal power plants and growing renewable power generation are driving the synchronous condensers market in the region. North America is followed by Europe. Requirement for synchronous condensers in Europe is mainly driven by growing HVDC network in the region.
Research Methodology:
Market Research Future (MRFR) leverages its in-house network of expert analysts who, with the help of robust algorithms and fail-safes methodologies derive reliable and insightful market forecast. The market facts presented in our reports are backed by primary and secondary research inputs, which include interviews with industry opinion holders, questionnaires, surveys, SEC filings, whitepaper references, and, annual reports published. Top-down and bottom-up approaches are employed to ensure the credibility of the market foresight. Our analysts evaluate every microeconomic and macroeconomic factor associated with the market for a reliable assessment of the changing trends. A multi-layer verification process validates the authenticity of our research findings. MRFR strives to reveal market opportunities and threats for enabling our clients to devise their next growth strategy.
TABLE OF CONTENTS:
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 RESEARCH OBJECTIVES
2.2.2 ASSUMPTIONS & LIMITATIONS
2.3 MARKETS STRUCTURE
3 MARKET RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 SECONDARY RESEARCH
3.3 PRIMARY RESEARCH
3.4 FORECAST MODEL
4 MARKET LANDSCAP
4.1 FIVE FORCES ANALYSIS
4.1.1 THREAT OF NEW ENTRANTS
4.1.2 BARGAINING POWER OF BUYERS
4.1.3 BARGAINING POWER OF SUPPLIERS
4.1.4 THREAT OF SUBSTITUTES
4.1.5 SEGMENT RIVALRY
4.2 VALUE CHAIN/SUPPLY CHAIN OF GLOBAL SYNCHRONOUS CONDENSER MARKET
5 INDUSTRY OVERVIEW OF GLOBAL SYNCHRONOUS CONDENSER MARKET
5.1 INTRODUCTION
5.2 GROWTH DRIVERS
5.3 IMPACT ANALYSIS
5.4 MARKET CHALLENGES
Continued…
LIST OF TABLES:
TABLE 1 GLOBAL SYNCHRONOUS CONDENSER MARKET: BY REGION, 2017-2023
TABLE 2 NORTH AMERICA SYNCHRONOUS CONDENSER MARKET: BY COUNTRY, 2017-2023
TABLE 3 EUROPE SYNCHRONOUS CONDENSER MARKET: BY COUNTRY, 2017-2023
TABLE 4 ASIA PACIFIC SYNCHRONOUS CONDENSER MARKET: BY COUNTRY, 2017-2023
TABLE 5 MIDDLE EAST & AFRICA SYNCHRONOUS CONDENSER MARKET: BY COUNTRY, 2017-2023
TABLE 6 LATIN AMERICA SYNCHRONOUS CONDENSER MARKET: BY COUNTRY, 2017-2023
Continued…
LIST OF FIGURES:
FIGURE 1 GLOBAL SYNCHRONOUS CONDENSER MARKET SEGMENTATIONFIGURE 2 FORECAST METHODOLOGY
FIGURE 3 FIVE FORCES ANALYSIS OF GLOBAL SYNCHRONOUS CONDENSER MARKET
FIGURE 4 VALUE CHAIN OF GLOBAL SYNCHRONOUS CONDENSER MARKET
FIGURE 5 SHARE OF GLOBAL SYNCHRONOUS CONDENSER MARKET IN 2017, BY COUNTRY (IN %)
FIGURE 6 GLOBAL SYNCHRONOUS CONDENSER MARKET, 2017-2023,
Continued…
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