Synchronous Condenser Market by Cooling Type, Reactive Power Rating, Type, Starting Method, End User, and Region - Global Forecast to 2021

  • ID: 4061484
  • Report
  • Region: Global
  • 136 Pages
  • Markets and Markets
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The Global Synchronous Condensers Market is Projected to Grow at a CAGR of 2.1% from 2016 to 2021 to Reach a Market Size of USD 572.9 Million by 2021

FEATURED COMPANIES

  • ABB Ltd.
  • Eaton Corporation PLC.
  • Fuji Electric Co. Ltd.
  • General Electric Company
  • Siemens AG
  • Toshiba Corporation
  • MORE

"Synchronous Condenser Market by Cooling Type (Hydrogen, Air, and Water), Reactive Power Rating (Up to 100 MVAr, 100-200 MVAr, & Above 200 MVAr), Type, Starting Method (Static Frequency Converter, Pony Motor), End User, and Region - Global Forecast to 2021"

The synchronous condensers market is projected to reach USD 572.9 million by 2021, growing at a CAGR of 2.1% from 2016 to 2021. The increasing electrical power consumption and rising need to maximize transmission capacity are becoming increasingly important. Along with this, growing renewable-based power generation in the energy mix, retiring conventional power plants, and growing network of High-Voltage Direct Current (HVDC) has had a considerable effect on transmission grid stability. Synchronous condensers play a vital role by generating lagging and leading reactive power and helping to stabilize the transmission grid. It also offers several advantages over the other substitutes such as no harmonics, short-circuit power capability, and inertia to the transmission grid among others.

On the other hand, high cost of equipment and availability of low-cost alternatives are the major factors restraining the growth of the synchronous condenser market.

Synchronous condensers rated above 200 MVAr held the largest market share in 2015, and is expected to be the fastest growing segment in the synchronous condensers market from 2016 to 2021. This growth is evident owing to rising installations of synchronous condensers rated above 200 MVAr, especially in North America and Europe.

Hydrogen-cooled synchronous condenser segment held the largest market share in 2015, and is expected to be the fastest growing segment in the synchronous condensers market from 2016 to 2021. This growth is attributed to the adoption and efficiency of large-sized synchronous condensers for reactive power rating of above 200 Mega Volt Amps (reactive) (MVAr).

The synchronous condensers market in North America is projected to grow at the fastest rate during the forecast period. Gradual phasing out of thermal power plants and increasing renewable power generation are driving the synchronous condensers market in the region. North America is followed by Europe. Demand for synchronous condensers in Europe is mainly driven by rising HVDC network in the region.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject matter experts, 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 market prospects. The distribution of primary interviews is as follows:

  • By Company Type: Tier 1- 69%, Tier 2- 22%, Tier 3- 9%
  • By Designation: C-Level- 35%, D-Level- 38%, Others- 27%
  • By Region: North America- 52%, Europe- 29%, Asia-Pacific- 8%, Rest of the World- 11%

Note: - Others include sales managers, marketing managers, and product managers

The tier of the companies is defined based on their total revenue, as of 2013: Tier 1 = >USD 10 billion, Tier 2 = from USD 1 billion to USD 10 billion and Tier 3 =

Leading players of this industry have been profiled with their recent developments and other strategic activities. These include Siemens AG (Germany), General Electric Company (U.S.), Eaton Corporation (Ireland), ABB Ltd. (Switzerland), and Voith GmbH (Germany).

Research Coverage:

The report provides a picture on the synchronous condenser market across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments, such as type, cooling type, end-user, starting method, reactive power rating, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.

Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall synchronous condenser market and its subsegments. This report will help stakeholders to better understand the competitive landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.

Why Buy this Report?

1. The report identifies and addresses key markets for synchronous condensers which is useful for suppliers, OEMs, and Utilities to review production and distribution plans.
2. The report helps manufacturers to understand the pulse of the market and provides insights on drivers, restraints, and challenges.
3. The report will help OEMs to better understand the competition strategies and will help in making strategic decisions.

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FEATURED COMPANIES

  • ABB Ltd.
  • Eaton Corporation PLC.
  • Fuji Electric Co. Ltd.
  • General Electric Company
  • Siemens AG
  • Toshiba Corporation
  • MORE
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Countries Covered
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions & Limitations
2.4.1 Assumptions

3 Executive Summary
3.1 Introduction
3.2 Current Scenario
3.3 Future Outlook
3.4 Conclusion

4 Premium Insights
4.1 Synchronous Condenser Market, By Cooling Type
4.2 Synchronous Condenser Market, By Type
4.3 Synchronous Condenser Market, By Cooling Type
4.4 Synchronous Condenser Market: Reactive Power Rating vs Starting Method
4.5 Electrical Utilities are Expected to Dominate the Global Synchronous Condenser Market During the Forecast Period

5 Market Overview
5.1 Introduction
5.2 Market Segmentation
5.2.1 By Power Rating
5.2.2 By Region
5.2.3 By Type
5.2.4 By Starting Method
5.2.5 By End-User
5.2.6 By Cooling Type
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increasing Renewable Power Generation
5.3.1.2 Long Service Life
5.3.1.3 Rising Need for Power Factor Correction
5.3.2 Restraints
5.3.2.1 High Maintenance and Equipment Cost
5.3.3 Opportunities
5.3.3.1 Growing Hvdc Network
5.3.3.2 Phase Out of Conventional Power Plants
5.3.4 Challenges
5.3.4.1 Availability of Low-Cost Alternatives

6 Synchronous Condenser Market, By Cooling Type
6.1 Introduction
6.2 Hydrogen-Cooled Synchronous Condenser Market
6.3 Air-Cooled Synchronous Condenser Market
6.4 Water-Cooled Synchronous Condenser Market

7 Synchronous Condenser Market, By Starting Method
7.1 Introduction
7.2 Static Frequency Converter
7.3 Pony Motor
7.4 Others

8 Synchronous Condenser Market, By Reactive Power Rating (MVAR)
8.1 Introduction
8.2 Synchronous Condenser With Reactive Power Rating Up to 100 MVAR
8.3 Synchronous Condenser With Reactive Power Rating Between 100 MVAR-200 MVAR
8.4 Synchronous Condenser With Reactive Power Rating Above 200 MVAR

9 Synchronous Condenser Market, By End-User
9.1 Introduction
9.2 Electrical Utilities
9.3 Industries

10 Synchronous Condenser Market, By Type
10.1 Introduction
10.2 New Synchronous Condenser
10.3 Refurbished Synchronous Condenser

11 Synchronous Condenser Market, By Region
11.1 Introduction
11.2 North America
11.2.1 By Cooling Type
11.2.2 By Starting Method
11.2.3 By Reactive Power Rating (MVAR)
11.2.4 By End User
11.2.5 By Type
11.2.6 By Country
11.2.6.1 Canada
11.2.6.2 U.S.
11.3 Europe
11.3.1 By Cooling Type
11.3.2 By Reactive Power Rating (MVAR)
11.3.3 By Starting Method
11.3.4 By End-User
11.3.5 By Type
11.3.6 By Country
11.3.6.1 Italy
11.3.6.2 Norway
11.3.6.3 Germany
11.3.6.4 Rest of Europe
11.4 South America
11.4.1 By Cooling Type
11.4.2 By Reactive Power Rating (MVAR)
11.4.3 By Starting Method
11.4.4 By End User
11.4.5 By Type
11.4.6 By Country
11.4.6.1 Brazil
11.4.6.1.1 By Cooling Type
11.4.6.2 Rest of South America
11.5 Rest of the World
11.5.1 By Cooling Type
11.5.2 By Reactive Power Rating (MVAR)
11.5.3 By Starting Method
11.5.4 By End-User
11.5.5 By Type
11.5.6 By Country
11.5.6.1 Australia
11.5.6.2 Other Countries of RoW

12 Competitive Landscape
12.1 Overview
12.2 Competitive Situation and Trends
12.3 Market Share Analysis, Hybrid Power Solutions Market (By Key Players)
12.4 Contracts and Agreements
12.5 Expansions & Investments
12.6 Mergers & Acquisitions

13 Company Profiles
(Overview, Products & Services, Strategies & Insights, Developments and MnM View) -
13.1 Introduction
13.2 ABB Ltd.
13.3 Siemens AG
13.4 Eaton Corporation PLC.
13.5 General Electric Company
13.6 Fuji Electric Co. Ltd.
13.7 Toshiba Corporation
13.8 Voith GmbH
13.9 Hyundai Ideal Electric Co.
13.10 Sustainable Power Systems Inc.
13.11 WEG SA
13.12 Electromechanical Engineering Associates, Inc.
13.13 Power Systems and Control, Inc
  • Details on Overview, Products & Services, Strategies & Insights, Developments and MnM View Might Not Be Captured in Case of Unlisted Companies.
14 Appendix
14.1 Insights of Industry Experts
14.2 Discussion Guide

List of Tables

Table 1 Serving Life of Power Factor Correction Equipment
Table 2 Existing Coal Fired Capacity Retirements in the U.S. in 2012
Table 3 U.S.: Coal-Fired Electric Generator Announcements Since November, 2013
Table 4 World: Nuclear Power Plant Shut Down, 2014-2016
Table 5 Synchronous Condensers Alternatives
Table 6 Synchronous Condenser Market Size, By Cooling Type, 2014-2021 (USD Million)
Table 7 Hydrogen-Cooled Synchronous Condenser Market Size, By Region, 2014-2021 (USD Million)
Table 8 Air-Cooled Synchronous Condenser Market Size, By Region, 2014-2021 (USD Million)
Table 9 Water-Cooled Synchronous Condenser Market Size, By Region, 2014-2021 (USD Million)
Table 10 Synchronous Condenser Market Size, By Starting Method, 2014-2021 (USD Million)
Table 11 Static Frequency Converter: Synchronous Condenser Market Size, By Region, 2014-2021 (USD Million)
Table 12 Pony Motor: Synchronous Condenser Market Size, By Region, 2014-2021 (USD Million)
Table 13 Others: Synchronous Condenser Market Size, By Region, 2014-2021 (USD Thousand)
Table 14 Synchronous Condenser Market Size, By Reactive Power Rating (MVAR), 2014-2021 (USD Million)
Table 15 Up to 100 MVAR: Synchronous Condenser Market Size, By Region, 2014-2021 (USD Million)
Table 16 100 MVAR-200 MVAR: Synchronous Condenser Market Size, By Region, 2014-2021 (USD Million)
Table 17 Above 200 MVAR: Synchronous Condenser Market Size, By Region, 2014-2021 (USD Million)
Table 18 Synchronous Condenser Market, By End-User, 2014-2021 (USD Million)
Table 19 Electrical Utilities: Synchronous Condenser Market Size, By Region, 2014-2021 (USD Million)
Table 20 Industries: Synchronous Condenser Market Size, By Region, 2014-2021 (USD Million)
Table 21 Synchronous Condenser Market Size, By Type, 2014-2021 (USD Million)
Table 22 New: Synchronous Condenser Market Size, By Region, 2014-2021 (USD Million)
Table 23 Refurbished: Synchronous Condenser Market Size, By Region, 2014-2021 (USD Million)
Table 24 Synchronous Condenser Market Size, By Region, 2014-2021 (USD Million)
Table 25 North America: Synchronous Condenser Market Size, By Cooling Type, 2014-2021 (USD Million)
Table 26 North America: Synchronous Condenser Market Size, By Starting Method, 2014-2021 (USD Million)
Table 27 North America: Synchronous Condenser Market Size, By Reactive Power Rating (MVAR), 2014-2021 (USD Million)
Table 28 North America: Synchronous Condenser Market Size, By End-User, 2014-2021 (USD Million)
Table 29 North America: Synchronous Condenser Market Size, By Type, 2014-2021 (USD Million)
Table 30 North America: Synchronous Condenser Market Size, By Country, 2014-2021 (USD Million)
Table 31 Canada: Synchronous Condenser Market Size, By Cooling Type, 2014-2021 (USD Million)
Table 32 Canada: Synchronous Condenser Market Size, By Reactive Power Rating (MVAR), 2014-2021 (USD Million)
Table 33 U.S.: Synchronous Condenser Market Size, By Cooling Type, 2014-2021 (USD Million)
Table 34 U.S.: Synchronous Condenser Market Size, By Reactive Power Rating (MVAR), 2014-2021 (USD Million)
Table 35 Europe: Synchronous Condenser Market Size, By Cooling Type, 2014-2021 (USD Million)
Table 36 Europe: Synchronous Condenser Market Size, By Reactive Power Rating (MVAR), 2014-2021 (USD Million)
Table 37 Europe: Synchronous Condenser Market Size, By Starting Method, 2014-2021 (USD Million)
Table 38 Europe: Synchronous Condenser Market Size, By End-User, 2014-2021 (USD Million)
Table 39 Europe: Synchronous Condenser Market Size, By Type, 2014-2021 (USD Million)
Table 40 Europe: Synchronous Condenser Market Size, By Country, 2013-2020 (USD Million)
Table 41 Italy: Synchronous Condenser Market Size, By Cooling Type, 2014-2021 (USD Million)
Table 42 Italy: Synchronous Condenser Market Size, By Reactive Power Rating, 2014-2021 (USD Million)
Table 43 Norway: Synchronous Condenser Market Size, By Cooling Type, 2014-2021 (USD Million)
Table 44 Norway: Synchronous Condenser Market Size, By Reactive Power Rating (MVAR), 2014-2021 (USD Million)
Table 45 Germany: Synchronous Condenser Market Size, By Cooling Type, 2014-2021 (USD Million)
Table 46 Germany: Synchronous Condenser Market Size, By Reactive Power Rating (MVAR), 2014-2021 (USD Million)
Table 47 Rest of Europe: Synchronous Condenser Market Size, By Cooling Type, 2014-2021 (USD Million)
Table 48 Rest of Europe: Synchronous Condenser Market Size, By Reactive Power Rating (MVAR), 2014-2021 (USD Million)
Table 49 South America: Synchronous Condenser Market Size, By Cooling Type, 2014-2021 (USD Million)
Table 50 South America: Synchronous Condenser Market Size, By Reactive Power Rating (MVAR), 2014-2021 (USD Million)
Table 51 South America: Synchronous Condenser Market Size, By Starting Method, 2014-2021 (USD Million)
Table 52 South America: Synchronous Condenser Market Size, By End-User, 2014-2021 (USD Million)
Table 53 South America: Synchronous Condenser Market Size, By Type, 2014-2021 (USD Million)
Table 54 South America: Synchronous Condenser Market Size, By Country, 2014-2021 (USD Million)
Table 55 Brazil: Synchronous Condenser Market Size, By Cooling Type, 2014-2021 (USD Million)
Table 56 Brazil: Synchronous Condenser Market Size, By Reactive Power Rating (MVAR), 2014-2021 (USD Million)
Table 57 Rest of South America: Synchronous Condenser Market Size, By Cooling Type, 2014-2021 (USD Million)
Table 58 Rest of South America: Synchronous Condenser Market Size, By Reactive Power Rating (MVAR), 2014-2021 (USD Million)
Table 59 Rest of the World: Synchronous Condenser Market Size, By Cooling Type, 2014-2021 (USD Million)
Table 60 Rest of the World: Synchronous Condenser Market Size, By Reactive Power Rating (MVAR), 2014-2021 (USD Million)
Table 61 Rest of the World: Synchronous Condenser Market Size, By Starting Method, 2014-2021 (USD Million)
Table 62 Rest of the World : Synchronous Condenser Market Size, By End-User, 2014-2021 (USD Million)
Table 63 Rest of the World: Synchronous Condenser Market Size, By Type, 2014-2021 (USD Million)
Table 64 Rest of the World: Synchronous Condenser Market Size, By Country, 2014-2021 (USD Million)
Table 65 Australia: Synchronous Condenser Market Size, By Cooling Type, 2014-2021 (USD Million)
Table 66 Australia: Synchronous Condenser Market Size, By Reactive Power Rating (MVAR), 2014-2021 (USD Million)
Table 67 Other Countries of RoW: Synchronous Condenser Market Size, By Cooling Type, 2014-2021 (USD Million)
Table 68 Other Countries of RoW: Synchronous Condenser Market Size, By Reactive Power Rating (MVAR), 2014-2021 (USD Million)
Table 69 Contracts and Agreements, 2013-2016
Table 70 Expansions & Investments, 2014
Table 71 Mergers & Acquisitions, 2016

List of Figures

Figure 1 Synchronous Condenser Market: Research Design
Figure 2 Bottom-Up Approach
Figure 3 Top-Down Approach
Figure 4 Data Triangulation Methodology
Figure 5 Assumptions of the Research Study
Figure 6 North America Occupied the Largest Market Share (Value) in 2015
Figure 7 Synchronous Condenser Market Share, By Cooling Method, 2016 & 2021 (USD Million)
Figure 8 Synchronous Condenser Market Size, By Reactive Power Rating (MVAR), 2016 & 2021 (USD Million)
Figure 9 Electrical Utilities Was the Largest End-User in 2015 & is Projected to Remain So During the Forecast Period
Figure 10 Synchronous Condenser Market Size, By Starting Method, 2016-2021 (USD Million)
Figure 11 New Installation Type is Expected to Lead the Synchronous Condenser Market, 2016-2021 (USD Million)
Figure 12 Company Development Comparison, 2012-2016
Figure 13 Attractive Market Opportunities in the Synchronous Condenser Market
Figure 14 Synchronous Condenser Market Share, By Cooling Type, 2016-2021
Figure 15 New Type Segment is Expected to Dominate the Synchronous Condenser Market, 2021
Figure 16 Commercial Segment is the Largest End-User Segment in the Synchronous Condenser Market, 2016-2021
Figure 17 Solar-Diesel Synchronous Condenser Segment Captured the Largest Market Share in 2016
Figure 18 Synchronous Condenser in Electrical Utilities Accounted for the Largest Market Share in 2015
Figure 19 Synchronous Condenser Market Segmentation
Figure 20 Increasing Focus on Renewable Energy Production to Propel Market Growth
Figure 21 Percentage Share of Renewables in Electricity Production (Including Hydro), 2010-2015
Figure 22 Hydrogen-Cooled Synchronous Condenser Segment is Expected to Dominate the Market From 2016 to 2021
Figure 23 Synchronous Condensers Started Using Static Frequency Converter to Dominate the Market From 2016 to 2021
Figure 24 Above 200 MVAR Synchronous Condenser Segment is Expected to Dominate the Market From 2016 to 2021
Figure 25 Electrical Utilities-Based Segment is Expected to Dominate the Synchronous Condenser Market, By End-User, 2016-2021
Figure 26 New Synchronous Condensers Segment is Projected to Dominate the Market From 2016 to 2021
Figure 27 Regional Snapshot: North America and Europe are Expected to Be the Major Markets for Synchronous Condensers, During 2016-2021
Figure 28 Regional Snapshot: North American Synchronous Condenser Market Overview (2015)
Figure 29 Regional Snapshot: Europe Offered Attractive Market Opportunities in 2015
Figure 30 Companies Adopted Contracts and Agreements as the Key Growth Strategy During 2013-2016
Figure 31 Market Evaluation Framework
Figure 32 Battle for Market Share: Contracts & Agreements is the Key Strategy Adopted By Major Players, 2013-2016
Figure 33 Market Share Analysis (Revenue, 2015)
Figure 34 Region-Wise Revenue Mix of the Top 5 Players
Figure 35 ABB Ltd.: Company Snapshot
Figure 36 ABB Ltd.: SWOT Analysis
Figure 37 Siemens AG: Company Snapshot
Figure 38 Siemens AG: SWOT Analysis
Figure 39 Eaton Corporation PLC: Company Snapshot
Figure 40 Eaton Corporation PLC.: SWOT Analysis
Figure 41 General Electric Company: Company Snapshot
Figure 42 General Electric Company: SWOT Analysis
Figure 43 Fuji Electric Co. Ltd.: Company Snapshot
Figure 44 Toshiba Corporation: Company Snapshot
Figure 45 Voith GmbH: Company Snapshot
Figure 46 Voith GmbH Company: SWOT Analysis
Figure 47 WEG SA: Company Snapshot
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  • ABB Ltd.
  • Eaton Corporation PLC.
  • Electromechanical Engineering Associates, Inc.
  • Fuji Electric Co. Ltd.
  • General Electric Company
  • Hyundai Ideal Electric Co.
  • Power Systems and Control, Inc
  • Siemens AG
  • Sustainable Power Systems Inc.
  • Toshiba Corporation
  • Voith GmbH
  • WEG SA
Note: Product cover images may vary from those shown
6 of 6
Note: Product cover images may vary from those shown
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