Synchronous Condenser Market Size, Share, Trends and Growth Report – Global Opportunities and Forecast, 2025-2032
Synchronous Condenser Market size reached USD 553 million in 2024 and is estimated to reach USD 695 million in 2032 and the market is estimated to grow at a CAGR of 2.9% from 2025-2032.
Synchronous Condenser, also known as Synchronous Compensator, refers to a synchronous motor that runs without mechanical load. It absorbs reactive volt-ampere (VAr) by varying the excitation of its field winding. A synchronous condenser has capability to produce up to 150% additional vars and also acts as an alternative to capacitor banks in power grids for power factor correction. The condenser controls power factor of system smoothly without stepping as per requirement.
Major Synchronous Condenser Market Drivers
The major factors which are driving the growth of the Global Synchronous Condenser include the increase demand for renewable power generation, long service life, and the rising requirement for power factor correction (PFC). Power plants are leveraging synchronous condensers as backups for renewables to manage voltage strength with weak electric grids due to the growing competence of hydro power and wind power generation. The increasing installation of solar panels in countries like US, China among others is also an important factor which is fuelling the growth of the market. Moreover, the shifting and conversion of synchronous generator to synchronous condenser and expansion of high-voltage direct current (HVDC) network will create lucrative opportunities in the growth of the market during the forecast period. However, high maintenance and device cost are restraining the growth of the market.
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Cooling Type – Segment Analysis
Based on the Cooling Type, the hydrogen-cooled segment is projected to grow at a higher CAGR in the market during the forecast period owing to the rising adoption of hydrogen-cooled synchronous condenser for medium to large synchronous condensers units between 100 and 300 MVAr across the globe.
Starting Method – Segment Analysis
Based on the Starting Method, the static frequency convertor segment is expected to grow at a higher CAGR during the forecast period due to its remarkable benefits such as low volume, high reliability, and low noise.
End-Use – Segment Analysis
Based on the end-user, the electrical utilities segment is projected to grow at a higher CAGR during the forecast period owing to the increasing adoption of these condensers by the electric utility industry. The industries utilize these condensers when power factor correction is high and the power transmission is over a long distance.
Region – Segment Analysis
Based on the region, North America is anticipated to lead the global Synchronous Condenser market during the forecast period owing to the rising number of new installations and conversion of existing power plants to synchronous condensers in the US, and increasing demand for synchronous condenser in Canada.
Top Market Players
The major key players in the market include ABB, Siemens AG, WEG, Voith Group, Fuji Electric Co. Ltd., General Electric, Eaton Corporation, Ideal Electric, Electromechanical Engineering Associates, Ansaldo Energia, among others.
The Global Synchronous Condenser market has been segmented based on the Type, Cooling Type, Starting Method, Reactive Power Rating, End-User, and key region. Based on Type, the market is segmented into New Synchronous Condenser, and Refurbished Synchronous Condenser. Based on Cooling Type, the market is segmented into Hydrogen-Cooled, Air-Cooled, and Water-Cooled. Based on Starting Method, the market is segmented into Static Frequency Converter, Pony Motor, and Others. Based on Reactive Power Rating, the market is segmented into Up to 100 MVAr Synchronous Condenser, 100–200 MVAr Synchronous Condenser, and Above 200 MVAr Synchronous Condenser. Based on Starting Method, the market is segmented into Electrical Utilities, and Industries.
Key questions answered in this research report:
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- At what pace is the global Synchronous Condenser market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in the global Synchronous Condenser market? What will be the impact of drivers and restraints in the future?
- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Synchronous Condenser market?
- Who are the various end-users of the global Synchronous Condenser market, and how are they poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
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Report Coverage |
Details |
| Market Revenues (2024) |
USD 553 Million |
| Market Base Year |
2024 |
| Market Forecast Year |
2025-2032 |
| Base Year & Forecast Units |
Revenue (USD Million) |
| Market Segment | By Type, By Cooling Type, By Starting Method, By Reactive Power Rating, By End-User, By Region |
| Regional Coverage | Asia Pacific, Europe, North America, and RoW |
| Companies Profiled | ABB, Siemens AG, WEG, Voith Group, Fuji Electric Co. Ltd., General Electric, Eaton Corporation, Ideal Electric, Electromechanical Engineering Associates, Ansaldo Energia, among others, a total of 10 companies covered. |
| 25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Synchronous Condenser Market by Type
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- New Synchronous Condenser
- Refurbished Synchronous Condenser
Global Synchronous Condenser Market by Cooling Type
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- Hydrogen-Cooled
- Air-Cooled
- Water-Cooled
Global Synchronous Condenser Market by Starting Method
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- Static Frequency Converter
- Pony Motor
- Others
Global Synchronous Condenser Market by Reactive Power Rating
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- Up to 100 MVAr Synchronous Condenser
- 100–200 MVAr Synchronous Condenser
- Above 200 MVAr Synchronous Condenser
Global Synchronous Condenser Market by End-User
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- Electrical Utilities
- Industries
Global Synchronous Condenser Market by Region
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North America Synchronous Condenser Market Option 1: As a part of the free 25% customization
- By Type
- By Cooling Type
- By Starting Method
- By Reactive Power rating
- By End-User
- United States of America (US) Market All-Up
- Canada Market All-Up
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Europe Synchronous Condenser Market Option 2: As a part of the free 25% customization
- By Type
- By Cooling Type
- By Starting Method
- By Reactive Power rating
- By End-User
- United Kingdom (UK) Market All-Up
- Germany All-Up Market All-Up
- France Market All-Up
- Spain Market All-Up
- Rest of Europe Market All-Up
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Asia-Pacific Synchronous Condenser Market Option 3: As a part of the free 25% customization
- By Type
- By Cooling Type
- By Starting Method
- By Reactive Power rating
- By End-User
- China Market All-Up
- India Market All-Up
- Japan Market All-Up
- Rest of APAC Market All-Up
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ROW Synchronous Condenser Market Option 4: As a part of the free 25% customization
- By Type
- By Cooling Type
- By Starting Method
- By Reactive Power rating
- By End-User
- Brazil Market All-Up
- South Africa Market All-Up
- Saudi Arabia Market All-Up
- UAE Market All-Up
- Rest of world (remaining countries of the LAMEA region) Market All-Up
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Synchronous Condenser Leading Market Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)
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- ABB
- Siemens AG
- WEG
- Voith Group
- Fuji Electric Co., Ltd.
- General Electric
- Eaton Corporation
- Ideal Electric
- Electromechanical Engineering Associates
- Ansaldo Energia
Frequently Asked Question About This Report
Synchronous Condenser Market [UP901A-00-0620]
The synchronous condenser market is anticipated to grow from USD 553 million in 2024 to USD 695 million in 2032, driven by a steady CAGR of 2.9% from 2025 to 2032.
Market growth is driven by the rising need for renewable power generation, extended service life and the increasing need for power factor correction.
The electrical utilities segment is predicted to lead the market based on the end user.
North America is projected to dominate the market due to the increasing number of new installations and power plants conversion to synchronous condensers in the US.
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