Synchronous Condenser System is Expected to grow with the CAGR of Approximately 2% from 2017 to 2023

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

The increasing sale of cosmetic products is driven by its high application across the beauty and Growth in electric power consumption and increasing need to widen transmission capacity are becoming critical in current market. Also, increase in renewable power generation, retiring old 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-circuit 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.

Currently, 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. 

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This study provides an overview of the global synchronous condenser market, tracking five market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global synchronous condenser market by its cooling method, end user, reactive power rating, starting method, product type and by regions. 

By Cooling

  • Hydrogen
  • Air
  • Water 

By Reactive Power Rating

  • Up to 100 MVAr
  • Between 100-200 MVAr
  • Above 200 MVAr

By Starting Method

  • Static Frequency Converter
  • Pony Motor
  • Others 

By End User

  • Electrical Utilities
  • Industries 

By Product 

  • New
  • Refurbished 

By Region

  • North America 
  • Asia Pacific 
  • Europe
  • Rest of the World  

Key Players

  • 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)

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Study Objectives of Synchronous Condenser Market

  • To provide detailed analysis of the market structure along with forecast for the next five years of the various segments and sub-segments of the global synchronous condenser market.
  • To provide insights about factors affecting the market growth
  • To analyze the global synchronous condenser market based on various tools such as Supply Chain Analysis, and Porter’s Five Force Analysis
  • To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries
  • To provide country level analysis of the market with respect to the current market size and future prospective
  • To provide country level analysis of the market for segments by material type, product, application and region
  • To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
  • To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the synchronous condenser market.

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Table of Contents

1    Executive Summary

2       Research Methodology

    2.1   Scope of the Study

    2.1.1     Definition

    2.1.2     Research Objective

    2.1.3     Assumptions

    2.1.4     Limitations

    2.2   Research Process

    2.2.1     Primary Research

    2.2.2     Secondary Research

    2.3   Market size Estimation

    2.4   Forecast Model

3    Market Dynamics

    3.1   Market Drivers

    3.2   Market Inhibitors

    3.3   Supply/Value Chain Analysis 

    3.4   Porter’s Five Forces Analysis

4    Global Synchronous Condenser Market, By Cooling Type

    4.1  Introduction

    4.2   Hydrogen

        4.3  Air

    4.4  Water                      

5       Global Synchronous Condenser Market, By Reactive Power Rating

    5.1   Introduction

    5.2   Up to 100 MVAr

    5.3   Between 100-200 MVAr

    5.4   Above 200 MVAr

6       Global Synchronous Condenser Market, By Starting Method

       6.1   Introduction

       6.2   Static Frequency Converter

       6.3   Pony Motor

       6.4   Others

7    Global Synchronous Condenser Market, By End User

     7.1  Introduction

     7.2   Electrical Utilities

         7.3  Industries 

8      Global Synchronous Condenser Market, By Product Type

    8.1   Introduction

    8.2   New

    8.3   Refurbished


9      Regional Market Analysis

        9.1 Introduction

        9.2 North America

        9.2.1    U.S.

        9.2.2    Canada

        9.3 Europe

    9.3.1 U.K.

        9.3.2 France

        9.3.3 Germany

        9.3.4 Rest of Europe

        9.4 Asia-Pacific

        9.4.1    China

        9.4.2    Japan

        9.4.3    India

        9.4.4    Rest of Asia-Pacific

        9.5 Rest of the World  

10    Competitive Analysis

    10.1    Introduction

    10.2    Competitive Scenario

    10.2.1    Market Share Analysis

    10.2.2    Market Development Analysis

    10.2.3    Application/Service Benchmarking 

    10.3    Siemens AG (Germany)

    10.3.1    Overview

    10.3.2    Application/Service Offering

    10.3.3    Strategy

    10.4    General Electric (U.S.) 

        10.4.1    Overview

    10.4.2    Application/Service Offering

    10.4.3    Strategy

    10.5    Eaton Co. Plc. (Ireland)

    10.5.1    Overview

    10.5.2    Application/Service Offering

    10.5.3    Strategy

    10.9    ABB Ltd. (Switzerland)

    10.9.1    Overview

    10.9.2    Application/Service Offering

    10.9.3    Strategy

    10.10    Voith GmbH (Germany)

    10.10.1    Overview

    10.10.2    Application/Service Offering

    10.10.3    Strategy

    10.8     Fuji Electric Co., Ltd. (Japan)

    10.8.1    Overview

    10.8.2    Application/Service Offering

    10.8.3    Strategy

    10.9    Toshiba Corporation (Japan)

        10.9.1    Overview

    10.9.2    Application/Service Offering

    10.9.3    Strategy

    10.10    Hyundai Ideal Electric Co. (U.S.A)

    10.10.1    Overview

    10.10.2    Application/Service Offering

    10.10.3    Strategy

    10.11     Sustainable Power Systems LLC. (USA)

        10.11.1    Overview

    10.11.2    Application/Service Offering

    10.11.3    Strategy

    10.12    WEG Industries (Brazil)

    10.12.1    Overview

    10.12.2    Application/Service Offering

    10.12.3    Strategy

    10.13    Electro Mechanical Engineering Associates (USA),

    10.13.1    Overview

    10.13.2    Application/Service Offering

    10.13.3    Strategy

    10.14   Power Systems and Control (USA)

    10.14.1    Overview

    10.14.2    Application/Service Offering

    10.14.3    Strategy


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