Global Synchronous Condenser Market bym

Global Synchronous Condenser Market by type and by region

The GMI Research contemplates
that the Synchronous
Condenser Market will oversee an increasing demand over the forecast
period. This is because of their aggravating endorsement of consumers by the
electric utility industry, accelerating the number of novel installations and
modification of existent power plants.

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Introduction of the Synchronous
Condenser Market

As per the
Synchronous Condenser Market Forecast, synchronous Condenser or Compensator is a motor
operating without mechanical load. It assimilates reactive volt-ampere (VAr) by
changing the agitation of its field winding. In addition, it has the potential
to engender up to 150% extra vars and acts as a substitute to capacitor banks.

Key Players of Market:

·        
ABB

·        
Ideal Electric

·        
WEG

·        
Siemens AG

·        
Ansaldo Energia

·        
Voith Group

·        
Fuji Electric Co., Ltd.

·        
General Electric

·        
Eaton Corporation

·        
Electromechanical Engineering Associates

Synchronous Condenser Market Dynamics

The augmenting demand for
sustainable power engendering, enlarged service life, and growing need for
power factor correction (PFC) are the prime factors surging the growth of the
global Synchronous Condenser market. In addition, the power plants are capitalizing
synchronous condensers as bottlenecks for renewables to control voltage
strength with weak electric grids as a result of the rising proficiency of wind
and hydropower generation. Also, the intensified insertion of solar panels in
countries such as China and the US is further strengthening the market growth.
Besides this, the inconstancy and modification of synchronous generator to
condenser and up-gradation of high-voltage direct current (HVDC) network will
impel the market growth. However, the excessive cost of maintenance and device
has hindered the Synchronous Condenser market opportunities.

Cooling Type Segment Drivers

Based on the Cooling Type, hydrogen-cooled
is predicted to witness higher growth over the coming years. This is because of
the growing endorsement of hydrogen-cooled synchronous condensers across medium
to large condensers units ranging between 100 and 300 MVA.

Starting Model Segment Drivers

Based on the Starting Method, the
static frequency convertor is anticipated to bolster at a notable rate over the
next few years. This is because of their remarkable features, such as low
capacity, high dependence, and less noise.

Geographical Drivers

Based on the regional coverage,
North America is likely to capture the largest share in the market over the
forecast period. This is because of the acceleration in the number of new
installations and transformation of existent power plants to synchronous
condensers in the US and rising demand for the synchronous condenser in Canada,
propelling the Synchronous
Condenser Market Size.

Synchronous Condenser Market Segmentation:

Segmentation by Type

·        
New Synchronous Condenser

·        
Refurbished Synchronous Condenser

Segmentation by Cooling Type

·        
Hydrogen-Cooled

·        
Air-Cooled

·        
Water-Cooled

Segmentation by Starting Method

·        
Static Frequency Converter

·        
Pony Motor

·        
Others

Segmentation by Reactive Power Rating

·        
Up to 100 MVAr Synchronous Condenser

·        
100–200 MVAr Synchronous Condenser

·        
Above 200 MVAr Synchronous Condenser

Segmentation Market by End-User

·        
Electrical Utilities

·        
Industries

Segmentation by Region:

·        
Europe

o  
United Kingdom

o  
Germany

o  
France

o  
Spain

o  
Rest of Europe

·        
Asia Pacific

o  
China

o  
Japan

o  
India

o  
Rest of APAC

·        
North America

o  
United States of America

o  
Canada

·        
RoW

o  
UAE

o  
Brazil

o  
South Africa

o  
Saudi Arabia

About
GMI Research

GMI is a consulting and market
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