Synchronous Condenser Market was valued at USD 497 Million by 2027 and projected to expand at 2.2% CAGR during the forecast period.

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.

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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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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.

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.

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.

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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.

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.

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Key questions answered in this research report:

• • 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?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2027)	USD 497 Million
Base Year & Forecast Units	Value (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

• • New Synchronous Condenser
  • Refurbished Synchronous Condenser

Global Synchronous Condenser Market by Cooling Type

• • Hydrogen-Cooled
  • Air-Cooled
  • Water-Cooled

Global Synchronous Condenser Market by Starting Method

• • Static Frequency Converter
  • Pony Motor
  • Others

Global Synchronous Condenser Market by Reactive Power Rating

• • Up to 100 MVAr Synchronous Condenser
  • 100–200 MVAr Synchronous Condenser
  • Above 200 MVAr Synchronous Condenser

Global Synchronous Condenser Market by End-User

• • Electrical Utilities
  • Industries

Global Synchronous Condenser Market by Region

• • North America Synchronous Condenser Market
    Option 1: As a part of the free 25% customization
    • North America Synchronous Condenser Market By Type
    • North America Synchronous Condenser Market By Cooling Type
    • North America Synchronous Condenser Market By Starting Method
    • North America Synchronous Condenser Market By Reactive Power rating
    • North America Synchronous Condenser Market By End-User
    • United States of America (US) Synchronous Condenser Market All-Up
    • Canada Synchronous Condenser Market All-Up
  • Europe Synchronous Condenser Market
    Option 2: As a part of the free 25% customization
    • Europe Synchronous Condenser Market By Type
    • Europe Synchronous Condenser Market By Cooling Type
    • Europe Synchronous Condenser Market By Starting Method
    • Europe Synchronous Condenser Market By Reactive Power rating
    • Europe Synchronous Condenser Market By End-User
    • United Kingdom (UK) Synchronous Condenser Market All-Up
    • Germany All-Up Synchronous Condenser Market All-Up
    • France Synchronous Condenser Market All-Up
    • Spain Synchronous Condenser Market All-Up
    • Rest of Europe Synchronous Condenser Market All-Up
  • Asia-Pacific Synchronous Condenser Market
    Option 3: As a part of the free 25% customization
    • Asia-Pacific Synchronous Condenser Market By Type
    • Asia-Pacific Synchronous Condenser Market By Cooling Type
    • Asia-Pacific Synchronous Condenser Market By Starting Method
    • Asia-Pacific Synchronous Condenser Market By Reactive Power rating
    • Asia-Pacific Synchronous Condenser Market By End-User
    • China Synchronous Condenser Market All-Up
    • India Synchronous Condenser Market All-Up
    • Japan Synchronous Condenser Market All-Up
    • Rest of APAC Synchronous Condenser Market All-Up
  • ROW Synchronous Condenser Market
    Option 4: As a part of the free 25% customization
    • RoW Synchronous Condenser Market By Type
    • RoW Synchronous Condenser Market By Cooling Type
    • RoW Synchronous Condenser Market By Starting Method
    • RoW Synchronous Condenser Market By Reactive Power rating
    • RoW Synchronous Condenser Market By End-User
    • Brazil Synchronous Condenser Market All-Up
    • South Africa Synchronous Condenser Market All-Up
    • Saudi Arabia Synchronous Condenser Market All-Up
    • UAE Synchronous Condenser Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Synchronous Condenser Market All-Up

Synchronous Condenser Leading Market Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • ABB
  • Siemens AG
  • WEG
  • Voith Group
  • Fuji Electric Co., Ltd.
  • General Electric
  • Eaton Corporation
  • Ideal Electric
  • Electromechanical Engineering Associates
  • Ansaldo Energia