Global Synchronous Condenser Market - Industry Trends and Forecast to 2031

Global Synchronous Condenser Market - Industry Trends and Forecast to 2031

The global synchronous condenser market is expected to reach USD 3,634,603.72 Thousand by 2031 from USD 2,645,899.59 Thousand in 2023 with a CAGR of 4.1% in the forecast period from 2024 to 2031. The new market report contains data for the historic year 2023, the base year of calculation is 2024, and the forecast period is 2024 to 2031.

Market Segmentation:

Global synchronous condenser market, By Cooling Technology (Hydrogen Cooled Synchronous Condenser, Air-Cooled Synchronous Condenser, and Water Cooled Synchronous Condenser), Starting Method (Static Frequency Convertor, Pony Motor, and Others), Reactive Power ( Above 200 MVAR, 101-200 MVAR, 61-100 MVAR, 31-60 MVAR, and 0-30 MVAR), End-User (Electrical Utilities and Industrial Sectors), Insulation Type (New Synchronous Condenser and Refurbished Synchronous Condenser), No. of Poles ( 4 to 8, Less Than 4, and More Than 8), Design (Salient Pole Design and Cylindrical Rotor Design), Excitation System (Static Excitation and Brushless Excitation System), Country (U.S., Canada, Mexico, China, Japan, South Korea, India, Australia, Singapore, Indonesia, Thailand, Taiwan, Malaysia, Philippines, Rest of Asia-Pacific, Germany, U.K., France, Italy, Netherlands, Spain, Switzerland, Russia, Turkey, Belgium, Poland, Finland, Norway, Rest of Europe, U.A.E., Saudi Arabia, Israel, Qatar, Egypt, Kuwait, South Africa, Oman, Bahrain, and Rest of Middle East and Africa) - Industry Trends and Forecast to 2031

Overview of Global Synchronous Condenser Market Dynamics

Driver
• Increasing demand for clean energy sources

Restraint
• Stringent standards related to synchronous condenser

Opportunity
• Increase in investments on R&D to develop efficient synchronous condenser

Market Players

Some of the major players operating in the global synchronous condenser market are:
• Doosan Škoda Power
• General Electric
• Eaton
• ABB
• Ansaldo Energia
• WEG
• Siemens Energy
• IDEAL ELECTRIC POWER CO
• ANDRITZ
• Mitsubishi Electric Power Products, Inc.
• Power Systems & Controls, Inc.
• Baker Hughes Company
• Shanghai Electric
• INGETEAM, S.A.
• Hitachi Energy Ltd. Show more