The synchronous condensermarket was valued at $57.64 million in 2019 and is expected to reach $588 million in 2027. It is expected to grow at an annual average of 2% from 2021 to 2027.
This growth is due to increased renewable generation, long service life and increased demand for power factor correction. Existing and planned upgrades and expansions of high voltage direct current (HVDC) networks worldwide in various regions are expected to increase the demand for power factor correction equipment such as synchronous capacitors.
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Company Profile
- ABB Ltd.
- Brush Group
- Eaton Corporation plc
- FUJI ELECTRIC CO., LTD.
- General Electric Company
- IDEAL ELECTRIC POWER CO.
- Mitsubishi Electric Power Products, Inc. (Mitsubishi Electric Corporation)
- Siemens Energy (Siemens AG)
- Voith GmbH & Co. KGaA
- WEG ELECTRIC CORP.
Market Segmentation
Synchronous Condenser Market Segments:
By Cooling Type
- Air-Cooled
- Hydrogen-Cooled
- Water-Cooled
By Reactive Power Rating
- Up to 100 MVAr
- 100–200 MVAr
- Above 200 MVAr
By Starting Method
- Pony Motor
- Static Frequency Converter
- Others
By Application
- Metal and Mining
- Electrical Utilities and Grid Operators
- Marine
- Oil and Gas
- Others
Scope of the Report
The research study analyzes the global Synchronous Condenser industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
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Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Synchronous Condenser Market Report
1. What was the Synchronous Condenser Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2021-2027).
- What will be the CAGR of Synchronous Condenser Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2021? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Synchronous Condenser Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the global Synchronous Condenser market.
- The market share of the global Synchronous Condenser market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the global Synchronous Condenser market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the global Synchronous Condenser market.
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