Insights on the Synchronous Condenser Global Market to 2030 - Rapid Growth of HVDC Network Presents Opportunities

Dublin, Nov. 18, 2021 (GLOBE NEWSWIRE) -- The "Synchronous Condenser Market by Type, Cooling Type, Starting Method, Reactive Power Rating and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

The global synchronous condenser market was valued at $568.9 million in 2020, and is projected to reach $751.0 million by 2030, growing at a CAGR of 2.8% from 2021 to 2030.

Synchronous condenser is a device that converts electrical power to mechanical power and vice-versa. This device is used to adjust the stability conditions occurs on electrical utilities such as generation, transmission, and distribution networks. The control of electric field of synchronous condenser is done with the help of voltage regulator to generate or absorb the reactive power in improving power factor of grid.

Rise in demand for power factor correction and reactive power compensation across the globe is a key factor driving the growth of the global synchronous condenser market during the forecast period. In addition, rapid increase in renewable power integration significantly contributes toward the growth of the global synchronous condenser market from 2021 to 2030. However, high cost associated with synchronous condensers and availability of alternatives to synchronous condensers are expected to hamper the growth of the market, globally. Conversely, technological advancements in synchronous condensers along with increase in demand for synchronous condensers from HVDC network and conversion of synchronous generators to synchronous condensers are expected to create potential growth opportunity for key player operating in this market.

The global synchronous condensers market is segmented into type, cooling type, starting method, end user, reactive power rating, and region. Depending on type, the market is categorized into new and refurbished. On the basis of cooling type, it is bifurcated into air cooled, water cooled, and hydrogen cooled. As per starting method, it is classified into static frequency converter, pony motor, and others. The end users covered in the study include electric utilities and industrial. By reactive power rating, the market is fragmented into up to 100 MVAR, 100-200 MVAR, and above 200 MVAR. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

• The report includes in-depth analysis of different segments and provides market estimations between 2021 and 2030.

• A comprehensive analysis of the factors that drive and restrict the growth of the global synchronous condenser market is provided.

• Porter's five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.

• Estimations and forecast are based on factors impacting the global synchronous condenser market growth, in terms of value.

• Key market players are profiled to gain an understanding of the strategies adopted by them.

• This report provides a detailed analysis of the current trends and future estimations from 2021 to 2030, which helps identify the prevailing market opportunities.

Key Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key forces shaping the market
3.3. Value chain analysis
3.4. Top investment pockets
3.5. Patent analysis
3.5.1. By region, 2013-2019
3.6. Market dynamics
3.6.1. Drivers
3.6.1.1. Rise in demand for power factor correction and reactive power compensation
3.6.1.2. Rapid Growth in Renewable Power Integration
3.6.2. Restraints
3.6.2.1. High cost associated with Synchronous Condensers
3.6.2.2. Availability of alternatives
3.6.3. Opportunity
3.6.3.1. Rapid growth of HVDC network
3.6.3.2. Transition of synchronous generator to synchronous condenser
3.7. Impact of COVID-19 outbreak on the market

CHAPTER 4: SYNCHRONOUS CONDENSER MARKET, BY TYPE
4.1. Overview
4.1.1. Market size and forecast
4.2. New
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis, by country
4.3. Refurbished
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis, by country

CHAPTER 5: SYNCHRONOUS CONDENSER MARKET, BY COOLING TYPE
5.1. Overview
5.1.1. Market size and forecast
5.2. Air-Cooled
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis, by country
5.3. Water-Cooled
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis, by country
5.4. Hydrogen-Cooled
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market share analysis, by country

CHAPTER 6: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD
6.1. Overview
6.1.1. Market size and forecast
6.2. Static Frequency Converter
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis, by country
6.3. Pony motor
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis, by country
6.4. Others
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market share analysis, by country

CHAPTER 7: SYNCHRONOUS CONDENSER MARKET, BY END USER
7.1. Overview
7.1.1. Market size and forecast
7.2. Electric Utilities
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast, by region
7.2.3. Market share analysis, by country
7.3. Industries
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast, by region
7.3.3. Market share analysis, by country

CHAPTER 8: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING
8.1. Overview
8.1.1. Market size and forecast
8.2. Up to 100 MVAR
8.2.1. Key market trends, growth factors, and opportunities
8.2.2. Market size and forecast, by region
8.2.3. Market share analysis, by country
8.3.100-200 MVAR
8.3.1. Key market trends, growth factors, and opportunities
8.3.2. Market size and forecast, by region
8.3.3. Market share analysis, by country
8.4. More than 200 MVAR
8.4.1. Key market trends, growth factors, and opportunities
8.4.2. Market size and forecast, by region
8.4.3. Market share analysis, by country

CHAPTER 9: SYNCHRONOUS CONDENSER MARKET, BY REGION

CHAPTER 10: COMPETITIVE LANDSCAPE
10.1. Introduction
10.1.1. Market Player Positioning, 2020
10.2. Top winning strategies
10.2.1. Top winning strategies, by year
10.2.2. Top winning strategies, by development
10.2.3. Top winning strategies, by company
10.3. Product Mapping of Top 10 Player
10.4. Competitive Heatmap
10.5. Key developments
10.5.1. Agreements
10.5.2. Collaboration

CHAPTER 11: COMPANY PROFILES
11.1. ABB, LTD.
11.1.1. Company overview
11.1.2. Key executives
11.1.3. Company snapshot
11.1.4. Operating business segments
11.1.5. Product portfolio
11.1.6. Business performance
11.1.7. Key strategic moves and developments
11.2. Andritz
11.2.1. Company overview
11.2.2. Key executives
11.2.3. Company snapshot
11.2.4. Operating business segments
11.2.5. Product portfolio
11.2.6. Business performance
11.2.7. Key strategic moves and developments
11.3. Eaton Corporation plc
11.3.1. Company overview
11.3.2. Key executives
11.3.3. Company snapshot
11.3.4. Operating business segments
11.3.5. Product portfolio
11.3.6. Business performance
11.4. Fuji Electric
11.4.1. Company overview
11.4.2. Key executives
11.4.3. Company snapshot
11.4.4. Operating business segments
11.4.5. Product portfolio
11.4.6. Business performance
11.5. GENERAL ELECTRIC
11.5.1. Company overview
11.5.2. Key executives
11.5.3. Company snapshot
11.5.4. Operating business segments
11.5.5. Product portfolio
11.5.6. Business performance
11.5.7. Key strategic moves and developments
11.6. Ideal Electric Power Co.
11.6.1. Company overview
11.6.2. Key executives
11.6.3. Company snapshot
11.6.4. Product portfolio
11.7. Mitsubishi Electric Corporation
11.7.1. Company overview
11.7.2. Key executives
11.7.3. Company snapshot
11.7.4. Operating business segments
11.7.5. Product portfolio
11.7.6. Business performance
11.8. Siemens Energy
11.8.1. Company overview
11.8.2. Key executives
11.8.3. Company snapshot
11.8.4. Operating business segments
11.8.5. Product portfolio
11.8.6. Business performance
11.8.7. Key strategic moves and developments
11.9. Voith GmbH & Co. KGaA
11.9.1. Company overview
11.9.2. Key executives
11.9.3. Company snapshot
11.9.4. Operating business segments
11.9.5. Product portfolio
11.9.6. Business performance
11.10. WEG Group
11.10.1. Company overview
11.10.2. Key executives
11.10.3. Company snapshot
11.10.4. Operating business segments
11.10.5. Product portfolio
11.10.6. Business performance

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