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Synchronous Condenser Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Oct 01, 2024
Length 210 Pages
SKU # FOB19224219

Description

Synchronous Condenser Market



Growth Factors of Synchronous Condenser Market

The Synchronous Condenser Market size was valued at USD 656.30 million in 2023 and is projected to grow from USD 672.00 million in 2024 to USD 847.10 million by 2032, exhibiting a compound annual growth rate (CAGR) of 2.9% during the forecast period of 2024-2032.

The COVID-19 pandemic notably impacted the synchronous condenser marketplace, frequently thru deliver chain disruptions and behind schedule assignment timelines. With production activities halted and international logistics slowed, the set up of synchronous condensers confronted setbacks. Additionally, economic uncertainty caused a brief decline in new projects, particularly in developing regions. However, as economies started out to recover, the marketplace saw a sluggish resurgence, driven via the growing demand for grid stability and power fine as renewable strength sources were included.

One key using element for the synchronous condenser marketplace is the growing adoption of renewable electricity. As grids end up greater reliant on intermittent assets like wind and solar, synchronous condensers assist offer critical reactive energy assist, stabilizing voltage degrees and enhancing strength factor. This call for is anticipated to increase as extra renewable initiatives come on line, making grid reliability a pinnacle precedence for utility agencies.

A trendy fashion within the synchronous condenser market is the developing hobby in retrofitting current turbines. This price-powerful approach converts decommissioned turbines into synchronous condensers, imparting more suitable grid guide without the need for brand new infrastructure. This trend aligns with the rush for sustainable strength answers, because it facilitates extend the lifestyles of existing system and promotes the green use of resources.

Comprehensive Analysis of Synchronous Condenser Market

The Synchronous Condenser Market growth is rising at an exponential rate due to its marketplace segmentation. This market expansion correctly affords a detailed local assessments thinking about the dominant supply and call for forces that effect the enterprise. These segmentations are methodically segregated by . By Cooling Type include Air-cooled, Water-cooled, Hydrogen-cooled .By Starting Method include Static Frequency Converter, Pony Motors, Others. By Power Rating include Up to 200 MVAR, Above 200 MVAR.

The Europe region lead the Synchronous Condenser Market share by benefitting a market size of USD 202.40 million Europe is experiencing a high requirement to control voltage fluctuations in power plants, increasing the demand for such condensers in this region.

The top players in the market play a crucial role in the industry assuring market growth and setting market standards. These players include, Google LLC (Alphabet, Inc.), Magic Leap, Inc., ReWalk Robotics, SAMSUNG, B-Temia, Panasonic Holdings Corporation, NVIDIA Corporation, Microsoft, Ekso Bionics, Vuzix,these market players provide a level-playing competitive landscape.

February 2021- ABB gained a first-rate turnkey settlement from Statkraft to layout, manufacture, and deploy high inertia synchronous condenser systems for the Lister Drive Greener Grid assignment at Liverpool in Northwest England. This challenge will appreciably stabilize the nearby grid to handle greater solar and wind strength.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 2.9% from 2024 to 2032

Unit Value (USD Million)

Segmentation By Cooling Type
  • Air-cooled
  • Water-cooled
  • Hydrogen-cooled
By Starting Method
  • Static Frequency Converter
  • Pony Motors
  • Others
By Power Rating
  • Up to 200 MVAR
  • Above 200 MVAR
By Application
  • Utility
  • Industrial
By Region
  • North America (By Cooling Type, By Starting Method, By Power Rating, By Applications, and By Country)
  • U.S. (By Application)
  • Canada (By Application)
  • Europe (By Cooling Type, By Starting Method, By Power Rating, By Applications, and By Country)
  • UK (By Application)
  • France (By Application)
  • Spain (By Application)
  • Germany(By Application)
  • Italy (By Application)
  • Rest of Europe (By Application)
  • Asia Pacific (By Cooling Type, By Starting Method, By Power Rating, By Applications, and By Country)
  • China (By Application)
  • India (By Application)
  • Japan (By Application)
  • Southeast Asia (By Application)
  • Rest of Asia Pacific (By Application)
  • Latin America (By Cooling Type, By Starting Method, By Power Rating, By Applications, and By Country)
  • Brazil (By Application)
  • Mexico (By Application)
  • Rest of Latin America (By Application)
  • Middle East and Africa (By Cooling Type, By Starting Method, By Power Rating, By Applications, and By Country)
  • South Africa (By Application)
  • GCC (By Application)
  • Rest of Middle East & Africa (By Application)


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Table of Contents

210 Pages
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Porters Five Forces Analysis
4.5. Impact of COVID-19 on the Synchronous Condenser Market
5. Global Synchronous Condenser Market Analysis (USD Million), Insights and Forecast, 2019-2032
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Cooling Type
5.2.1. Hydrogen-cooled
5.2.2. Air-cooled
5.2.3. Water-cooled
5.3. Market Analysis, Insights and Forecast – By Starting Method
5.3.1. Static Frequency Converter
5.3.2. Pony Motors
5.3.3. Others
5.4. Market Analysis, Insights and Forecast – By Power Rating
5.4.1. Up to 200 MVAR
5.4.2. Above 200 MVAR
5.5. Market Analysis, Insights and Forecast – By Application
5.5.1. Utility
5.5.2. Industrial
5.6. Market Analysis, Insights and Forecast – By Region
5.6.1. North America
5.6.2. Europe
5.6.3. Asia Pacific
5.6.4. Latin America
5.6.5. Middle East & Africa
6. North America Synchronous Condenser Market Analysis (USD Million), Insights and Forecast, 2019-2032
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Cooling Type
6.2.1. Hydrogen-cooled
6.2.2. Air-cooled
6.2.3. Water-cooled
6.3. Market Analysis, Insights and Forecast – By Starting Method
6.3.1. Static Frequency Converter
6.3.2. Pony Motors
6.3.3. Others
6.4. Market Analysis, Insights and Forecast – By Power Rating
6.4.1. Up to 200 MVAR
6.4.2. Above 200 MVAR
6.5. Market Analysis, Insights and Forecast – By Application
6.5.1. Utility
6.5.2. Industrial
6.6. Market Analysis, Insights and Forecast – By Country
6.6.1. U.S. Market Analysis, Insights and Forecast – By Application
6.6.1.1. Utility
6.6.1.2. Industrial
6.6.2. Canada Market Analysis, Insights and Forecast – By Application
6.6.2.1. Utility
6.6.2.2. Industrial
7. Europe Synchronous Condenser Market Analysis (USD Million), Insights and Forecast, 2019-2032
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Cooling Type
7.2.1. Hydrogen-cooled
7.2.2. Air-cooled
7.2.3. Water-cooled
7.3. Market Analysis, Insights and Forecast – By Starting Method
7.3.1. Static Frequency Converter
7.3.2. Pony Motors
7.3.3. Others
7.4. Market Analysis, Insights and Forecast – By Power Rating
7.4.1. Up to 200 MVAR
7.4.2. Above 200 MVAR
7.5. Market Analysis, Insights and Forecast – By Application
7.5.1. Utility
7.5.2. Industrial
7.6. Market Analysis, Insights and Forecast – By Country
7.6.1. Germany Market Analysis, Insights and Forecast – By Application
7.6.1.1. Utility
7.6.1.2. Industrial
7.6.2. U.K Market Analysis, Insights and Forecast – By Application
7.6.2.1. Utility
7.6.2.2. Industrial
7.6.3. France Market Analysis, Insights and Forecast – By Application
7.6.3.1. Utility
7.6.3.2. Industrial
7.6.4. Italy Market Analysis, Insights and Forecast – By Application
7.6.4.1. Utility
7.6.4.2. Industrial
7.6.5. Spain Market Analysis, Insights and Forecast – By Application
7.6.5.1. Utility
7.6.5.2. Industrial
7.6.6. Rest of Europe Market Analysis, Insights and Forecast – By Application
7.6.6.1. Utility
7.6.6.2. Industrial
8. Asia Pacific Synchronous Condenser Market Analysis (USD Million), Insights and Forecast, 2019-2032
8.1. Key Findings / Summary
8.2. Market Analysis, Insights and Forecast – By Cooling Type
8.2.1. Hydrogen-cooled
8.2.2. Air-cooled
8.2.3. Water-cooled
8.3. Market Analysis, Insights and Forecast – By Starting Method
8.3.1. Static Frequency Converter
8.3.2. Pony Motors
8.3.3. Others
8.4. Market Analysis, Insights and Forecast – By Power Rating
8.4.1. Up to 200 MVAR
8.4.2. Above 200 MVAR
8.5. Market Analysis, Insights and Forecast – By Application
8.5.1. Utility
8.5.2. Industrial
8.6. Market Analysis, Insights and Forecast – By Country
8.6.1. China Market Analysis, Insights and Forecast – By Application
8.6.1.1. Utility
8.6.1.2. Industrial
8.6.2. India Market Analysis, Insights and Forecast – By Application
8.6.2.1. Utility
8.6.2.2. Industrial
8.6.3. Japan Market Analysis, Insights and Forecast – By Application
8.6.3.1. Utility
8.6.3.2. Industrial
8.6.4. Southeast Asia Market Analysis, Insights and Forecast – By Application
8.6.4.1. Utility
8.6.4.2. Industrial
8.6.5. Rest of Asia Pacific Market Analysis, Insights and Forecast – By Application
8.6.5.1. Utility
8.6.5.2. Industrial
9. Latin America Synchronous Condenser Market Analysis (USD Million), Insights and Forecast, 2019-2032
9.1. Key Findings / Summary
9.2. Market Analysis, Insights and Forecast – By Cooling Type
9.2.1. Hydrogen-cooled
9.2.2. Air-cooled
9.2.3. Water-cooled
9.3. Market Analysis, Insights and Forecast – By Starting Method
9.3.1. Static Frequency Converter
9.3.2. Pony Motors
9.3.3. Others
9.4. Market Analysis, Insights and Forecast – By Power Rating
9.4.1. Up to 200 MVAR
9.4.2. Above 200 MVAR
9.5. Market Analysis, Insights and Forecast – By Application
9.5.1. Utility
9.5.2. Industrial
9.6. Market Analysis, Insights and Forecast – By Country
9.6.1. Brazil Market Analysis, Insights and Forecast – By Application
9.6.1.1. Utility
9.6.1.2. Industrial
9.6.2. Mexico Market Analysis, Insights and Forecast – By Application
9.6.2.1. Utility
9.6.2.2. Industrial
9.6.3. Rest of Latin America Market Analysis, Insights and Forecast – By Application
9.6.3.1. Utility
9.6.3.2. Industrial
10. Middle East & Africa Synchronous Condenser Market Analysis (USD Million), Insights and Forecast, 2019-2032
10.1. Market Analysis, Insights and Forecast – By Cooling Type
10.1.1. Hydrogen-cooled
10.1.2. Air-cooled
10.1.3. Water-cooled
10.2. Market Analysis, Insights and Forecast – By Starting Method
10.2.1. Static Frequency Converter
10.2.2. Pony Motors
10.2.3. Others
10.3. Market Analysis, Insights and Forecast – By Power Rating
10.3.1. Up to 200 MVAR
10.3.2. Above 200 MVAR
10.4. Market Analysis, Insights and Forecast – By Application
10.4.1. Utility
10.4.2. Industrial
10.5. Market Analysis, Insights and Forecast – By Country
10.5.1. GCC Market Analysis, Insights and Forecast – By Application
10.5.1.1. Utility
10.5.1.2. Industrial
10.5.2. South Africa Market Analysis, Insights and Forecast – By Application
10.5.2.1. Utility
10.5.2.2. Industrial
10.5.3. Rest of Middle East & Africa Market Analysis, Insights and Forecast – By Application
10.5.3.1. Utility
10.5.3.2. Industrial
11. Competitive Analysis
11.1. Company Market Share Analysis, 2023
11.2. Company Profile
11.2.1. General Electric
11.2.1.1. Business Overview
11.2.1.2. Product & Service Offering
11.2.1.3. Overall Revenue
11.2.1.4. Recent Development
11.2.2. Andritz AG
11.2.2.1. Business Overview
11.2.2.2. Product & Service Offering
11.2.2.3. Overall Revenue
11.2.2.4. Recent Development
11.2.3. Siemens
11.2.3.1. Business Overview
11.2.3.2. Product & Service Offering
11.2.3.3. Overall Revenue
11.2.3.4. Recent Development
11.2.4. Voith GmbH & Co. Kgaa
11.2.4.1. Business Overview
11.2.4.2. Product & Service Offering
11.2.4.3. Overall Revenue
11.2.4.4. Recent Development
11.2.5. Ansaldo Energia
11.2.5.1. Business Overview
11.2.5.2. Product & Service Offering
11.2.5.3. Overall Revenue
11.2.5.4. Recent Development
11.2.6. Fuji Electric
11.2.6.1. Business Overview
11.2.6.2. Product & Service Offering
11.2.6.3. Overall Revenue
11.2.6.4. Recent Development
11.2.7. WEG
11.2.7.1. Business Overview
11.2.7.2. Product & Service Offering
11.2.7.3. Overall Revenue
11.2.7.4. Recent Development
11.2.8. Eaton
11.2.8.1. Business Overview
11.2.8.2. Product & Service Offering
11.2.8.3. Overall Revenue
11.2.8.4. Recent Development
11.2.9. BRUSH
11.2.9.1. Business Overview
11.2.9.2. Product & Service Offering
11.2.9.3. Overall Revenue
11.2.9.4. Recent Development
11.2.10. BHEL
11.2.10.1. Business Overview
11.2.10.2. Product & Service Offering
11.2.10.3. Overall Revenue
11.2.10.4. Recent Development
11.2.11. Sustainable Power System
11.2.11.1. Business Overview
11.2.11.2. Product & Service Offering
11.2.11.3. Overall Revenue
11.2.11.4. Recent Development
12.

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