Synchronous Condenser Market – Global Opportunities and Forecast, 2020-2027

 The market report firstly enfolds a comprehensive analysis and assessment of the market. The report contains all-inclusive information related to the latest market updates including the emerging trends, market size, share, growth rate, and leading players for the given forecast period. It mainly aims to help the market players in achieving significant profit over the anticipated period. 

Leading industry players of the Synchronous Condenser Market:

Numerous key players in the synchronous condenser market are WEG, ABB, Voith Group, Fuji Electric Co. Ltd., Ideal Electric, General Electric, Eaton Corporation, Siemens AG, Electromechanical Engineering Associates, and Ansaldo Energia, among others.

Key Drivers of the Synchronous Condenser Market:

The primary factors contributing to the growth of the global synchronous condenser market include the growing demand for long service life, renewable power generation, and the increasing requirement for power factor correction (PFC). Power plants are widely adopting synchronous condensers as backups for renewables to manage voltage strength with weak electric grids owing to the rising competence of hydropower and wind power generation. The growing installation of solar panels in economies like the US, China among others is also an important factor that is boosting the growth of the market. According to the synchronous condenser market report, the conversion of synchronous generator to synchronous condenser and continuous expansion of high-voltage direct current (HVDC) network will bring lucrative opportunities in the growth of the market in the upcoming years. On the other hand, high maintenance and device costs are hampering the growth of the market.

Segmentation of the Synchronous Condenser Market:

This report carefully analyses all product segments of the synchronous condenser market. The market forecast has also taken into consideration type, cooling type, starting method, reactive power rating, end-user, and regions segments of the industry.

Synchronous Condenser Market by Type:

·         New Synchronous Condenser

·         Refurbished Synchronous Condenser

Synchronous Condenser Market by Cooling Type:

·         Hydrogen-Cooled

·         Air-Cooled

·         Water-Cooled

Synchronous Condenser Market by Starting Method:

·         Static Frequency Converter

·         Pony Motor

·         Others

Synchronous Condenser Market by Reactive Power Rating:

·         Up to 100 MVAr Synchronous Condenser

·         100–200 MVAr Synchronous Condenser

·         Above 200 MVAr Synchronous Condenser

Synchronous Condenser Market by End-User:

·         Electrical Utilities

·         Industries

Synchronous Condenser Market by Region:

·         North America

o   United States of America

o   Canada

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research:

GMI Research is a market research and consulting firm which provides bespoke industry & market research to help businesses in making the toughest business decision. We know the significance of accurate data; that’s why our analyst use a tailored methodology to study every market in detail because one size doesn’t fit all. We not only cover the traditional well-established market but also focuses on the niche market and markets in the emerging economies, where getting data and information is a challenge. This factor makes us a pioneer in the emerging market research space. Our syndicate reports cover multiple industries across various regions and countries.

Our in-depth market reports help propel your business with all the data, strategic inputs, and competitive intelligence to move ahead even in the most uncertain times. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research look forward to help businesses stay ahead of the curve.