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Synchronous Condensers Market: Global Industry Analysis (2012 - 2016) & Opportunity Analysis (2017 - 2027)

Synchronous Condensers Market: Global Industry Analysis (2012 - 2016) & Opportunity Analysis (2017 - 2027)

Despite the higher market share of new synchronous condensers, reconditioned condensers are expected to lead the global market in terms of CAGR

A synchronous condenser is DC-excited synchronous motor which runs in no load condition, and maintains power conditions on the electric power transmission grid. There are two types of synchronous condensers – new and reconditioned synchronous condensers. A new synchronous condenser is usually constructed with two or four poles, and can be cooled with air, water, or hydrogen. Whereas, a reconditioned synchronous condenser is the existing synchronous generator converted into a synchronous condenser. It involves decoupling the turbine from the generator, installation of a starting method for the condenser, design and installation of a new control system, and some mechanical modifications to the generator. According to our analysis, the new synchronous condensers segment is estimated to hold a greater market share with its value reaching over US$ 620 Mn in 2027, growing at a CAGR of 4.4%. However, reconditioned synchronous condensers are witnessed growth at a much higher rate than new condensers. The market for reconditioned condensers is expected to grow at a CAGR of 6.2% during the forecast period.

synchronous condensers market
Growth of the synchronous condensers market is driven by renewable energy based power generation and need for power factor correction

Energy and utility enterprises are moving towards renewable power generation from renewable energy sources such as wind, solar, and biomass facilities, to minimise the impact on the environment. Sometimes, the shortage of renewable energy sources for power generation results in an unstable transmission network of energy in a power supply system. To cope with this situation, synchronous condensers are installed, which provide reactive power to power plants at the time of reduced voltage, and accommodate the potential differences in power sources, which results in stable power generation and transmission. Thus, the adoption of renewable energy-based power generation in the energy mix results in the growth of the synchronous condensers market globally.

Another major factor that has helped the global synchronous condensers market grow is an increase in demand for power factor correction. An electrical load with a poor power factor draws more current, puts strain on the electricity distribution network, and results in high electricity bills. Moreover, poor power factor leads to power losses and voltage drops, which results in overheating and failure of electrical equipment and motors. There is a huge demand for power factor correction for reducing electricity costs, less heat generation, and greater longevity of electrical equipment and systems. The power factor is improved by installing power factor correction systems such as synchronous condensers, which compensate reactive power and stabilize the power grid. The rise in demand for power factor correction results in rising demand for synchronous condensers.

How can companies make full use of the opportunities available in the global market and help their business grow in the foreseeable future?

As the global synchronous condensers market experiences growth, businesses dealing in synchronous condensers are likely to witness lucrative opportunities to excel in the industry. The adoption of renewable energy sources is creating new opportunities for the installation of synchronous condensers. Companies in the global market need to focus on areas with high adoption rate of renewable energy sources, as it automatically opens doors for synchronous condensers. Also, power generation plants based on conventional energy sources are costlier to manage and it is equally uneconomical to abandon the power plants, as the capital expenditure on these units is generally huge, and is at times not covered fully even when the power plant is rendered obsolete. To counter this situation, the generators from these plants are being converted into synchronous condensers, as they can cost significantly less than installing a new synchronous condenser, and can also keep the power plant operational.


1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
3. Market View Point
3.1. Macro-Economic Factors
3.2. Opportunity Analysis
4. Market Dynamics
4.1. Drivers
4.2. Restraints
4.3. Trends
5. Global Market Analysis and Forecast 2017–2027
5.1. Market Size and Y-o-Y Growth
5.2. Absolute $ Opportunity
5.3. Value Chain
6. North America Synchronous Condenser Market Analysis 2012–2016 and Forecast 2017–2027
6.1. Introduction
6.2. Market Size (US$ Mn) By Country, 2012-2016
6.2.1. U.S.
6.2.2. Canada
6.3. Market Size (US$ Mn) and Forecast By Country, 2017-2027
6.3.1. U.S.
6.3.2. Canada
6.4. Market Size (US$ Mn) and Forecast By Product Type
6.4.1. New Synchronous Condenser
6.4.2. Reconditioned Synchronous Condenser
6.5. Market Size (US$ Mn) and Forecast By Cooling Type
6.5.1. Hydrogen Cooled
6.5.2. Water Cooled
6.5.3. Air Cooled
6.6. Market Size (US$ Mn) and Forecast By Reactive Power Rating
6.6.1. Below 100 MVAR
6.6.2. 100-200 MVAR
6.6.3. Above 200 MVAR
6.7. Market Size (US$ Mn) and Forecast By End Use
6.7.1. Electrical Power Utility
6.7.2. Industrial Purpose
6.8. Market Size (US$ Mn) and Forecast By Starting Method
6.8.1. Static Frequency Converter
6.8.2. Pony Motor
6.8.3. Others
6.9. Market Attractiveness Analysis
6.9.1. By Country
6.9.2. By Product Type
6.9.3. By Cooling Type
6.9.4. By Reactive Power Rating
6.9.5. By End Use
6.9.6. By Starting Method
7. Latin America Synchronous Condenser Market Analysis 2012–2016 and Forecast 2017–2027
7.1. Introduction
7.2. Market Size (US$ Mn) By Country, 2012-2016
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Market Size (US$ Mn) and Forecast By Country, 2017-2027
7.3.1. Brazil
7.3.2. Mexico
7.3.3. Rest of Latin America
7.4. Market Size (US$ Mn) and Forecast By Product Type
7.4.1. New Synchronous Condenser
7.4.2. Reconditioned Synchronous Condenser
7.5. Market Size (US$ Mn) and Forecast By Cooling Type
7.5.1. Hydrogen Cooled
7.5.2. Water Cooled
7.5.3. Air Cooled
7.6. Market Size (US$ Mn) and Forecast By Reactive Power Rating
7.6.1. Below 100 MVAR
7.6.2. 100-200 MVAR
7.6.3. Above 200 MVAR
7.7. Market Size (US$ Mn) and Forecast By End Use
7.7.1. Electrical Power Utility
7.7.2. Industrial Purpose
7.8. Market Size (US$ Mn) and Forecast By Starting Method
7.8.1. Static Frequency Converter
7.8.2. Pony Motor
7.8.3. Others
7.9. Market Attractiveness Analysis
7.9.1. By Country
7.9.2. By Product Type
7.9.3. By Cooling Type
7.9.4. By Reactive Power Rating
7.9.5. By End Use
7.9.6. By Starting Method
8. Western Europe Synchronous Condenser Market Analysis 2012–2016 and Forecast 2017–2027
8.1. Introduction
8.2. Market Size (US$ Mn) By Country, 2012-2016
8.2.1. Germany
8.2.2. France
8.2.3. U.K.
8.2.4. Spain
8.2.5. Italy
8.2.6. BENELUX
8.2.7. Nordic
8.2.8. Rest of Western Europe
8.3. Market Size (US$ Mn) and Forecast By Country, 2017-2027
8.3.1. Germany
8.3.2. France
8.3.3. U.K.
8.3.4. Spain
8.3.5. Italy
8.3.6. BENELUX
8.3.7. Nordic
8.3.8. Rest of Western Europe
8.4. Market Size (US$ Mn) and Forecast By Product Type
8.4.1. New Synchronous Condenser
8.4.2. Reconditioned Synchronous Condenser
8.5. Market Size (US$ Mn) and Forecast By Cooling Type
8.5.1. Hydrogen Cooled
8.5.2. Water Cooled
8.5.3. Air Cooled
8.6. Market Size (US$ Mn) and Forecast By Reactive Power Rating
8.6.1. Below 100 MVAR
8.6.2. 100-200 MVAR
8.6.3. Above 200 MVAR
8.7. Market Size (US$ Mn) and Forecast By End Use
8.7.1. Electrical Power Utility
8.7.2. Industrial Purpose
8.8. Market Size (US$ Mn) and Forecast By Starting Method
8.8.1. Static Frequency Converter
8.8.2. Pony Motor
8.8.3. Others
8.9. Market Attractiveness Analysis
8.9.1. By Country
8.9.2. By Product Type
8.9.3. By Cooling Type
8.9.4. By Reactive Power Rating
8.9.5. By End Use
8.9.6. By Starting Method
9. Eastern Europe Synchronous Condenser Market Analysis 2012–2016 and Forecast 2017–2027
9.1. Introduction
9.2. Market Size (US$ Mn) By Country, 2012-2016
9.2.1. Russia
9.2.2. Poland
9.2.3. Rest of Eastern Europe
9.3. Market Size (US$ Mn) and Forecast By Country, 2017-2027
9.3.1. Russia
9.3.2. Poland
9.3.3. Rest of Eastern Europe
9.4. Market Size (US$ Mn) and Forecast By Product Type
9.4.1. New Synchronous Condenser
9.4.2. Reconditioned Synchronous Condenser
9.5. Market Size (US$ Mn) and Forecast By Cooling Type
9.5.1. Hydrogen Cooled
9.5.2. Water Cooled
9.5.3. Air Cooled
9.6. Market Size (US$ Mn) and Forecast By Reactive Power Rating
9.6.1. Below 100 MVAR
9.6.2. 100-200 MVAR
9.6.3. Above 200 MVAR
9.7. Market Size (US$ Mn) and Forecast By End Use
9.7.1. Electrical Power Utility
9.7.2. Industrial Purpose
9.8. Market Size (US$ Mn) and Forecast By Starting Method
9.8.1. Static Frequency Converter
9.8.2. Pony Motor
9.8.3. Others
9.9. Market Attractiveness Analysis
9.9.1. By Country
9.9.2. By Product Type
9.9.3. By Cooling Type
9.9.4. By Reactive Power Rating
9.9.5. By End Use
9.9.6. By Starting Method
10. Asia Pacific Excluding Japan (APEJ) Synchronous Condenser Market Analysis 2012–2016 and Forecast 2017–2027
10.1. Introduction
10.2. Market Size (US$ Mn) By Country, 2012-2016
10.2.1. China
10.2.2. India
10.2.3. Australia and New Zealand
10.2.4. ASEAN
10.2.5. Rest of APEJ
10.3. Market Size (US$ Mn) and Forecast By Country, 2017-2017
10.3.1. China
10.3.2. India
10.3.3. Australia and New Zealand
10.3.4. ASEAN
10.3.5. Rest of APEJ
10.4. Market Size (US$ Mn) and Forecast By Product Type
10.4.1. New Synchronous Condenser
10.4.2. Reconditioned Synchronous Condenser
10.5. Market Size (US$ Mn) and Forecast By Cooling Type
10.5.1. Hydrogen Cooled
10.5.2. Water Cooled
10.5.3. Air Cooled
10.6. Market Size (US$ Mn) and Forecast By Reactive Power Rating
10.6.1. Below 100 MVAR
10.6.2. 100-200 MVAR
10.6.3. Above 200 MVAR
10.7. Market Size (US$ Mn) and Forecast By End Use
10.7.1. Electrical Power Utility
10.7.2. Industrial Purpose
10.8. Market Size (US$ Mn) and Forecast By Starting Method
10.8.1. Static Frequency Converter
10.8.2. Pony Motor
10.8.3. Others
10.9. Market Attractiveness Analysis
10.9.1. By Country
10.9.2. By Product Type
10.9.3. By Cooling Type
10.9.4. By Reactive Power Rating
10.9.5. By End Use
10.9.6. By Starting Method
11. Japan Synchronous Condenser Market Analysis 2012–2016 and Forecast 2017–2027
11.1. Introduction
11.2. Market Size (US$ Mn) and Forecast By Product Type
11.2.1. New Synchronous Condenser
11.2.2. Reconditioned Synchronous Condenser
11.3. Market Size (US$ Mn) and Forecast By Cooling Type
11.3.1. Hydrogen Cooled
11.3.2. Water Cooled
11.3.3. Air Cooled
11.4. Market Size (US$ Mn) and Forecast By Reactive Power Rating
11.4.1. Below 100 MVAR
11.4.2. 100-200 MVAR
11.4.3. Above 200 MVAR
11.5. Market Size (US$ Mn) and Forecast By End Use
11.5.1. Electrical Power Utility
11.5.2. Industrial Purpose
11.6. Market Size (US$ Mn) and Forecast By Starting Method
11.6.1. Static Frequency Converter
11.6.2. Pony Motor
11.6.3. Others
11.7. Market Attractiveness Analysis
11.7.1. By Product Type
11.7.2. By Cooling Type
11.7.3. By Reactive Power Rating
11.7.4. By End Use
11.7.5. By Starting Method
12. Middle East and Africa Synchronous Condenser Market Analysis 2012–2016 and Forecast 2017–2027
12.1. Introduction
12.2. Market Size (US$ Mn) By Country, 2012-2016
12.2.1. GCC Countries
12.2.2. Turkey
12.2.3. Northern Africa
12.2.4. South Africa
12.2.5. Rest of MEA
12.3. Market Size (US$ Mn) and Forecast By Country, 2017-2027
12.3.1. GCC Countries
12.3.2. Turkey
12.3.3. Northern Africa
12.3.4. South Africa
12.3.5. Rest of MEA
12.4. Market Size (US$ Mn) and Forecast By Product Type
12.4.1. New Synchronous Condenser
12.4.2. Reconditioned Synchronous Condenser
12.5. Market Size (US$ Mn) and Forecast By Cooling Type
12.5.1. Hydrogen Cooled
12.5.2. Water Cooled
12.5.3. Air Cooled
12.6. Market Size (US$ Mn) and Forecast By Reactive Power Rating
12.6.1. Below 100 MVAR
12.6.2. 100-200 MVAR
12.6.3. Above 200 MVAR
12.7. Market Size (US$ Mn) and Forecast By End Use
12.7.1. Electrical Power Utility
12.7.2. Industrial Purpose
12.8. Market Size (US$ Mn) and Forecast By Starting Method
12.8.1. Static Frequency Converter
12.8.2. Pony Motor
12.8.3. Others
12.9. Market Attractiveness Analysis
12.9.1. By Country
12.9.2. By Product Type
12.9.3. By Cooling Type
12.9.4. By Reactive Power Rating
12.9.5. By End Use
12.9.6. By Starting Method
13. Forecast Factors: Relevance and Impact
14. Competition Landscape
14.1. Market Structure
14.2. Market Share Analysis
14.3. Competition Intensity Mapping By Regio

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