Synchronous Condenser Market - Trends Forecast Till 2028

Synchronous Condenser Market, By Cooling Type (Hydrogen Cooled, Air Cooled, Water Cooled), Reactive Power Rating (MVAR) (Up To 100 MVAR Synchronous Condensers, 100–200 MVAR Synchronous Condensers, Above 200 MVAR Synchronous Condensers), Starting Method (Static Frequency Converters, Pony Motors, Others), End-User (Electrical Utilities, Industries), Type (New Synchronous Condensers, Refurbished Synchronous Condensers), Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: January, 2021

Base Year Estimate: 2020

Report ID: D-EN-SCM-61

Format:  

Number of Pages: 179

Domain: Energy

Synchronous Condenser Market – Trends Forecast Till 2028

The global synchronous condenser market is anticipated to reach USD 512.7 million in 2021 growing at a CAGR of 2.6% during the forecasting period, 2021-2028. 

Growing demand for renewable power generation and the increasing need for power factor correction are some of the factors that have supported long-term expansion for the synchronous condenser industry. 

Synchronous Condenser Market – Trends Forecast Till 2028

Global synchronous condenser market is segmented into cooling type, starting method, reactive power rating (MVAR), end-user, type, and geography.

Cooling Type segment is segmented into Hydrogen Cooled, Air Cooled, and Water Cooled

Reactive Power Rating (MVAR) segment is segmented into Up To 100 MVAR Synchronous Condensers, 100–200 MVAR Synchronous Condensers, and Above 200 MVAR Synchronous Condensers 

Starting Method segment is segmented into Static Frequency Converters, Pony Motors, and Others

End-User segment is segmented into Electrical Utilities and Industries

Type segment is segmented into New Synchronous Condensers and Refurbished Synchronous Condensers

Geographically, the global synchronous condenser market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions

North America region has come up as the prominent region for the leading share in the overall global market during the forecast period 2021-2028.

Key players in the global synchronous condenser market are ABB, Siemens, GE, Weg, Eaton, Andritz, Ansaldo Energia, Fuji Electric, and Voith Group among others

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Research Methodology

Secondary Research

This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conferences like Jefferies conference)—to identify and collect information useful for this study of the synchronous condenser market. The purpose of secondary research is to identify and collection of extensive, technical, market-oriented, and commercial studies of the global synchronous condenser market. Through secondary research, the market is classified and segmented as per industry trends, developments, regional markets, products, and technological developments.

Primary Research

The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the synchronous condenser market.

Primary Respondent breakdown is given below:

Synchronous Condenser Market – Trends Forecast Till 2028

Market Sizing

Top-down and bottom approaches were used to derive the market estimate and validate the total revenue of the synchronous condenser market. This approach has also been used to derive the market for segmentation and sub-segmentation. 

Data Validation

Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data, we contact primary respondents in order to gain a 98.8% of confidence level on our data.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants 

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors
  • Gain authentic and granular data access for synchronous condenser market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Market Revenue In 2021

USD 512.7 million

Growth Rate

CAGR of 2.6% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year 

2020

Units Considered

Revenue in USD million and CAGR from 2021 to 2028

Report Segmentation

Cooling Type, Starting Method, Reactive Power Rating (MVAR), End-User, Type, and Geography

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and the Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

are ABB, Siemens, GE, Weg, Eaton, Andritz, Ansaldo Energia, Fuji Electric, and Voith Group

Available Customization 

In addition to the market data for the synchronous condenser market, Delvens. offers client-centric reports and customized according to the company’s specific demand and requirement.

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