The global synchronous condenser market is profiled in detail in the latest research report from Market Research Future (MRFR). The global synchronous condenser market’s major drivers and restraints are profiled in the report to provide readers with a clear idea as to the major factors affecting the movement of the market. The leading players operating in the global synchronous condenser market are also profiled in the report to give readers a comprehensive overview of the competitive dynamics within the market. The impact of the COVID-19 pandemic on the global Synchronous Condenser Market is also assessed in the report.
Synchronous condensers are rotating electrical machines that provide reactive power compensation and short-circuit power capacity. They help maintain the power quality in an electric grid and also help enable grid stability and reliability. Synchronous condensers contain equipment such as starting equipment, auxiliary power distribution, excitation systems, lube oil supply, rotors, condenser cooling, and stators.
The increasing demand for electrical utilities in emerging regions is likely to be a major driver for the global Synchronous Condenser Market over the forecast period. Electrical utilities have risen in demand in emerging regions such as Asia Pacific and the Middle East due to the growing urbanization in the region. The urbanization has led to growing commercial and residential construction in these regions, which has led to a growing demand for electric power. This has led to a growing demand for synchronous condensers in order to maintain power quality throughout the grid.
The increasing adoption of renewable energy sources is also likely to be a major driver for the global synchronous condenser market over the forecast period. Renewable energy generation necessitates synchronous condensers, as the grid diversification needs to be balanced out. The diversity of power generation systems in a grid can lead to grid instability and a short circuit of power. Synchronous condensers help avoid this issue by balancing out the power generation from conventional and unconventional sources. The increasing presence of renewable, unconventional energy sources in the electricity grids of various countries is likely to be a major driver for the global synchronous condenser market over the forecast period.
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Leading players in the global synchronous condenser market include Andritz, Ansaldo Energia, Power Systems & Controls Inc., Ideal Electric Company, WEG, Toshiba Corporation, Electro Mechanical Engineering Associates Inc., Sustainable Power Systems Inc., Voith Group, General Electric, ABB, Eaton, and Siemens.
The global synchronous condenser market is segmented on the basis of cooling type, reactive power rating, type, starting method, end use, and region.
By cooling type, the global synchronous condenser market is segmented into hydrogen, air, and water.
By reactive power rating, the global synchronous condenser market is segmented into up to 100 MVAr, 100-200 MVAr, and more than 200 MVAr.
By type, the global synchronous condenser market is segmented into new and refurbished.
By starting method, the global synchronous condenser market is segmented into static frequency converter, pony motor, and others.
By end use, the global synchronous condenser market is segmented into electric utilities and industries.
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Asia Pacific is expected to dominate the global synchronous condenser market over the forecast period, according to the MRFR report. The increasing T&D expenditure and grid complexity in Asia Pacific are the major drivers for the synchronous condenser market in Asia Pacific. Increasing urbanization and industrialization in Asia Pacific is likely to remain a major driver for the global synchronous condenser market over the forecast period, as these factors have increased the demand for electric power over the last few years. Increasing residential and commercial construction in Asia Pacific is likely to be the major driver for the synchronous condenser market in Asia Pacific over the forecast period, as this is likely to drive the demand for power infrastructure in the region. The increasing adoption of renewable energy in Asia Pacific countries such as Japan, China, India, and Australia is also likely to remain a major driver for the synchronous condenser market in Asia Pacific over the forecast period.
Table of Contents
- Industry Overview
- Major Segmentation, classification, Application ect
- Production Market Analysis
- Sales Synchronous Condenser Market Analysis
- Consumption Market Analysis
- Production, Sales and Consumption Market Comparison Analysis
- Competition Analysis by Players
- Marketing Channel Analysis
- New Project Investment Feasibility Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis Distributors/Treads
- Global and Regional Synchronous Condenser Market Forecast
- Synchronous Condenser Market dynamics
- Synchronous Condenser Market Effect Factors Analysis
- Research Methodology
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