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Synchronous Condensers Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030

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    Report

  • 116 Pages
  • December 2022
  • Region: Global
  • Acute Market Reports
  • ID: 5713481
Description Jump to:
The global synchronous condenser market was valued at $570 million in 2020 and is estimated to expand at a CAGR of 3.2% during the forecast period of 2022 to 2030. The synchronous condenser is a synchronous device that generates reactive power that is 90 degrees out of phase with real power. The shaft of a synchronous condenser can freely rotate, comparable to a synchronous motor. It is used to regulate electric power grids by supplying or absorbing reactive power to the voltage of the regulated grid. It is operable with the assistance of starting methods including a static frequency converter and pony motor. The synchronous condensers use air cooling, hydrogen cooling, and water cooling, depending on the kind of load, reactive power rating, and client requirements. The high maintenance and equipment costs of the synchronous condenser are the primary market restraint. However, power factor correction, the expansion of high-voltage direct current (HVDC) networks, advances in condenser technology, and the progressive move toward renewable energy resources are among the primary reasons driving the growth of the synchronous condenser market.

Technology Transition Toward Renewable and Sustainable Energy Resources Remains as A Strong Driver

The worrisome rate of depletion of fossil fuels is causing governments across the globe to seek out alternative energy sources that may not only meet energy demands but also assist reduce environmental degradation. This has led to the growth of renewable energy infrastructure, including solar and wind power plants. However, these power plants frequently encounter difficulty in supplying high-quality power and maintaining stable grid voltage. In order to address this issue, more and more synchronous condensers are being built in these power production plants to ensure steady operations and preserve voltage stability with weak grids. This is stimulating the market for synchronous condensers.

Increasing government investments in the development of new HVDC networks are also contributing to the expansion of the synchronous condenser market, a trend that is expected to continue over the projected period. Countries are launching numerous new HVDC projects to provide electricity to their citizens. Synchronous condensers aid in the regulation of reactive power in electrical power transmission networks. Future growth opportunities for the worldwide synchronous condenser market are predicted to be created by the rising use of synchronous condensers in HVDC systems.

Mining Industry Promises Market Potential During the Forecast Period

Due to their remote locations, mining industries frequently operate with poor network power quality and low short-circuit capacity. To address this issue, mining sector operators are adding power-quality equipment, such as synchronous condensers. These products enhance power factor correction and hence regulate voltage. In addition, they guarantee a steady supply of electricity without fluctuations that could otherwise damage mining equipment. Thus, the expansion of the mining sector and the rising trend of installing synchronous condensers to meet the problems of power systems in the mining industry are projected to drive the market for synchronous condensers over the forecast period.

New Segment to Dominate the Market by Type

Due to the rising demand for reactive power compensation from electric utilities such as transmission systems, power plants, and other industrial applications, the new segment held the greatest market share by type in 2021. In addition, the advantages of synchronous condensers, such as power factor correction, reactive power compensation, grid stability, and voltage regulation, are predicted to fuel the expansion of the worldwide synchronous condenser market over the forecast period. The global increase in the number of power projects and vehicle charging stations is a significant element in the escalation of new synchronous condenser sales. Future sales of new synchronous condensers are predicted to be boosted by a rise in government spending on the development and expansion of the infrastructure for power generation and transmission.

Air-Cooled Segment to Dominate the Colling Type Market

Due to an increase in demand for synchronous condensers from high-voltage DC systems, wind/solar power generation, synchronous condenser upgrading, and other reactive power compensation applications in electric utilities, the air-cooled segment dominated the global market in terms of mobility in 2021. Utilizing an air-cooled system in a synchronous condenser facilitates easy operation and maintenance. This is anticipated to boost the growth of this market segment in the future years.

Static Frequency Converter Segment to Dominate the Market by Starting Method

In terms of cooling methods, the static frequency converter segment held the largest proportion of the worldwide synchronous condenser market in 2021. This is due to the increasing growth of heavy industries and projects, including dams, power plants, power networks, refineries, and mills. In addition, the global increase in hydropower projects will be the primary driver of the static frequency converter-based synchronous condenser in the coming years. For initiating synchronous condensers, static frequency converters offer superior control, greater precision, and excellent dependability. They are insensitive to fluctuations in supply voltage and load. In addition, these products produce less noise and have cheap installation expenses. Increasing usage of static frequency converter-based synchronous condensers across various end-use industries is expected to drive the growth of the synchronous condensers market over the forecast period.

Up to 100 MVAR Dominates the Market by Reactive Power Rating

In terms of application, the category of up to 100 MVAR had the largest market share in 2021. This is a result of the increasing demand for power factor correction and reactive power compensation in industrial applications, where many inductive loads are installed. In addition, increased short circuit megavolt ampere (MVA), high response excitation system, high overload capability, prolonged service life, and improved reliability are the key benefits of using synchronous condensers in utility applications, which are anticipated to drive market growth over the forecast period. Less than 50 and 50 to 80 MVAR synchronous condensers are gaining popularity among end users in a variety of areas due to their inexpensive price, simple installation, and excellent efficiency. Leading manufacturers have also moved their focus to the production of synchronous condensers with defined power ratings, particularly devices in the 50 to 80 MVAR range.

Electric Utilities Segment Dominates the Market by End User

In terms of the end-use industry, the electrical utility sector held the biggest market share in 2021, due to the increasing need for energy and related products, which drives the demand for grid infrastructure. In addition, the fast adoption of electric vehicles has led to an increase in charging stations, which functions as a crucial growth factor and presents the new potential for the integration of renewable electricity in charging stations. The synchronous condenser can be utilized to improve the power factor in these stations by absorbing or creating reactive power as needed. This is predicted to increase demand for synchronous condensers in the years to come. Grid stations are increasingly employing synchronous condensers to improve power factors by absorbing or creating reactive power. They provide greater grid stability and limit electric utility voltage swings. Increasing numbers of electric grids, solar farms, and charging stations for electric vehicles are predicted to increase demand for synchronous condensers over the coming years.

North America to Dominate the Market During the Forecast Period

During the forecast period, North America is anticipated to be the largest market. The aging electricity infrastructures in North America may increase the likelihood of blackouts. Therefore, the governments of several nations in this region are actively focused on upgrading and replacing aging infrastructures in order to enhance grid dependability and resilience and construct intelligent electrical networks. Current issues for the North American power sector include reaching energy-efficiency goals, complying with government carbon restrictions, and integrating diverse dispersed generation sources into the grid. Regionally, North America will continue to be the most lucrative market for synchronous with a share of 28% by the end of the forecast period. Rapid industrialization, dwindling fossil fuels, and rising penetration of electric vehicles have contributed to a large increase in renewable energy consumption in the U.S. over the past few years. According to the International Renewable Energy Agency (IRENA), the United States generated around 63,194.0 GWh of renewable electricity in 2019.

The government of the United States is investing in the increase of renewable energy generation capacity. In 2021, for instance, the United States Agency for International Development (USAID) and the Inter-American Development Bank (IDB) will invest $6.5 million in the development of a new solar power plant in the Caracol Industrial Park. This is offering lucrative growth opportunities for the market for synchronous condensers. In addition, the presence of market leaders and the expansion of the mining industry are anticipated to enhance the U.S. synchronous condenser market.

The Market Remains Fragmented and Competition to Intensify During the Forecast Period

The global market for synchronous condensers market is fragmented due to the presence of several enterprises in both developed and developing nations. The market for synchronous condensers is quite competitive. In order to maintain a competitive advantage, the product portfolio of the key companies is continually being updated. To dominate the market, the key market players adopt organic and inorganic strategies, including mergers, partnerships, new product launches, collaborations, and acquisitions. For example,
  • In 2021, Statkraft, Europe's largest renewable energy provider, granted ABB a significant contract for the delivery of synchronous condensers.
  • Siemens said in 2021 that it will construct three synchronous condensers for Elering.
  • Siemens Energy announced in May 2021 that it will provide two new grid stabilization solutions (synchronous compensators) to the Italian transmission system operator Terna.
ABB, Ltd., Andritz, Eaton Corporation Plc, Fuji Electric, General Electric, Ideal Electric Power Co., Mitsubishi Electric Corporation, Siemens Energy, Voith GmbH & Co. KGaA, and WEG Group are global leaders in the synchronous condenser business. Modern Power Systems, Toshiba Corporation, Brush Group, Sustainable Power Systems, Inc., Power Systems & Controls, Inc., Ansaldo Energia, and Power Systems & Controls, Inc. also remain active in the synchronous condenser sector.

Historical & Forecast Period

This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Synchronous Condensers market are as follows:
  • Research and development budgets of manufacturers and government spending
  • Revenues of key companies in the market segment
  • Number of end users and consumption volume, price and value.
  • Geographical revenues generate by countries considered in the report
  • Micro and macro environment factors that are currently influencing the Synchronous Condensers market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Market Segmentation

Type

  • New
  • Refurbished

Cooling Type

  • Air-cooled
  • Water-cooled
  • Hydrogen-cooled

Starting Method

  • Static Frequency Converter
  • Pony Motors
  • Others

Reactive Power Rating

  • Up to 100 MVAR
  • 100 - 200 MVAR
  • Above 200 MVAR

End User

  • Electrical Utilities
  • Industrial

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Synchronous Condensers market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2030.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Synchronous Condensers market?
  • Which is the largest regional market for Synchronous Condensers market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving Synchronous Condensers market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Synchronous Condensers market worldwide?


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Table of Contents

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. Key Offerings
1.2. Market Segmentation
1.3. Research Methodology
1.3.1. Phase I - Secondary Research
1.3.2. Phase II - Primary Research
1.3.3. Phase III - Expert Panel Review
1.3.4. Assumptions
1.3.5. Approach Adopted

2. Executive Summary
2.1. Market Snapshot: Global Synchronous Condensers Market
2.2. Global Synchronous Condensers Market, By Type, 2021 (US$ Million)
2.3. Global Synchronous Condensers Market, By Cooling Type, 2021 (US$ Million)
2.4. Global Synchronous Condensers Market, By Starting Method, 2021 (US$ Million)
2.5. Global Synchronous Condensers Market, By Reactive Power Rating, 2021 (US$ Million)
2.6. Global Synchronous Condensers Market, By End User, 2021 (US$ Million)
2.7. Global Synchronous Condensers Market, By Geography, 2021 (US$ Million)
2.8. Attractive Investment Proposition by Geography, 2021

3. Synchronous Condensers Market: Competitive Analysis
3.1. Market Positioning of Key Synchronous Condensers Market Vendors
3.2. Strategies Adopted by Synchronous Condensers Market Vendors
3.3. Key Industry Strategies
3.4. Tier Analysis 2021 Versus 2030

4. Synchronous Condensers Market: Macro Analysis & Market Dynamics
4.1. Introduction
4.2. Global Synchronous Condensers Market Value, 2020 - 2030, (US$ Million)
4.3. Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Key Challenges
4.3.4. Key Opportunities
4.4. Impact Analysis of Drivers and Restraints
4.5. See-Saw Analysis

5. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2021 Versus 2030
5.3. Market Segmentation
5.3.1. New
5.3.2. Refurbished

6. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
6.1. Market Overview
6.2. Growth & Revenue Analysis: 2021 Versus 2030
6.3. Market Segmentation
6.3.1. Air-cooled
6.3.2. Water-cooled
6.3.3. Hydrogen-cooled

7. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
7.1. Market Overview
7.2. Growth & Revenue Analysis: 2021 Versus 2030
7.3. Market Segmentation
7.3.1. Static Frequency Converter
7.3.2. Pony Motors
7.3.3. Others

8. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
8.1. Market Overview
8.2. Growth & Revenue Analysis: 2021 Versus 2030
8.3. Market Segmentation
8.3.1. Up to 100 MVAR
8.3.2. 100-200 MVAR
8.3.3. Above 200 MVAR

9. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
9.1. Market Overview
9.2. Growth & Revenue Analysis: 2021 Versus 2030
9.3. Market Segmentation
9.3.1. Electrical Utilities
9.3.2. Industrial

10. North America Synchronous Condensers Market, 2020-2030, USD (Million)
10.1. Market Overview
10.2. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
10.3. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
10.4. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
10.5. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
10.6. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
10.7.Synchronous Condensers Market: By Region, 2020-2030, USD (Million)
10.7.1.North America
10.7.1.1. U.S.
10.7.1.1.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
10.7.1.1.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
10.7.1.1.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
10.7.1.1.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
10.7.1.1.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
10.7.1.2. Canada
10.7.1.2.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
10.7.1.2.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
10.7.1.2.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
10.7.1.2.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
10.7.1.2.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
10.7.1.3. Rest of North America
10.7.1.3.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
10.7.1.3.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
10.7.1.3.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
10.7.1.3.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
10.7.1.3.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)

11. UK and European Union Synchronous Condensers Market, 2020-2030, USD (Million)
11.1. Market Overview
11.2. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
11.3. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
11.4. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
11.5. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
11.6. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
11.7.Synchronous Condensers Market: By Region, 2020-2030, USD (Million)
11.7.1.UK and European Union
11.7.1.1. UK
11.7.1.1.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
11.7.1.1.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
11.7.1.1.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
11.7.1.1.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
11.7.1.1.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
11.7.1.2. Germany
11.7.1.2.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
11.7.1.2.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
11.7.1.2.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
11.7.1.2.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
11.7.1.2.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
11.7.1.3. Spain
11.7.1.3.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
11.7.1.3.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
11.7.1.3.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
11.7.1.3.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
11.7.1.3.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
11.7.1.4. Italy
11.7.1.4.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
11.7.1.4.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
11.7.1.4.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
11.7.1.4.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
11.7.1.4.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
11.7.1.5. France
11.7.1.5.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
11.7.1.5.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
11.7.1.5.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
11.7.1.5.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
11.7.1.5.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
11.7.1.6. Rest of Europe
11.7.1.6.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
11.7.1.6.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
11.7.1.6.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
11.7.1.6.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
11.7.1.6.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)

12. Asia Pacific Synchronous Condensers Market, 2020-2030, USD (Million)
12.1. Market Overview
12.2. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
12.3. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
12.4. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
12.5. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
12.6. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
12.7.Synchronous Condensers Market: By Region, 2020-2030, USD (Million)
12.7.1.Asia Pacific
12.7.1.1. China
12.7.1.1.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
12.7.1.1.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
12.7.1.1.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
12.7.1.1.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
12.7.1.1.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
12.7.1.2. Japan
12.7.1.2.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
12.7.1.2.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
12.7.1.2.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
12.7.1.2.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
12.7.1.2.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
12.7.1.3. India
12.7.1.3.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
12.7.1.3.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
12.7.1.3.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
12.7.1.3.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
12.7.1.3.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
12.7.1.4. Australia
12.7.1.4.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
12.7.1.4.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
12.7.1.4.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
12.7.1.4.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
12.7.1.4.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
12.7.1.5. South Korea
12.7.1.5.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
12.7.1.5.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
12.7.1.5.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
12.7.1.5.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
12.7.1.5.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
12.7.1.6. Rest of Asia Pacific
12.7.1.6.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
12.7.1.6.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
12.7.1.6.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
12.7.1.6.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
12.7.1.6.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)

13. Latin America Synchronous Condensers Market, 2020-2030, USD (Million)
13.1. Market Overview
13.2. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
13.3. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
13.4. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
13.5. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
13.6. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
13.7.Synchronous Condensers Market: By Region, 2020-2030, USD (Million)
13.7.1.Latin America
13.7.1.1. Brazil
13.7.1.1.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
13.7.1.1.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
13.7.1.1.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
13.7.1.1.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
13.7.1.1.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
13.7.1.2. Mexico
13.7.1.2.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
13.7.1.2.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
13.7.1.2.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
13.7.1.2.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
13.7.1.2.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
13.7.1.3. Rest of Latin America
13.7.1.3.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
13.7.1.3.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
13.7.1.3.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
13.7.1.3.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
13.7.1.3.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)

14. Middle East and Africa Synchronous Condensers Market, 2020-2030, USD (Million)
14.1. Market Overview
14.2. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
14.3. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
14.4. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
14.5. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
14.6. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
14.7.Synchronous Condensers Market: By Region, 2020-2030, USD (Million)
14.7.1.Middle East and Africa
14.7.1.1. GCC
14.7.1.1.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
14.7.1.1.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
14.7.1.1.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
14.7.1.1.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
14.7.1.1.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
14.7.1.2. Africa
14.7.1.2.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
14.7.1.2.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
14.7.1.2.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
14.7.1.2.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
14.7.1.2.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)
14.7.1.3. Rest of Middle East and Africa
14.7.1.3.1. Synchronous Condensers Market: By Type, 2020-2030, USD (Million)
14.7.1.3.1. Synchronous Condensers Market: By Cooling Type, 2020-2030, USD (Million)
14.7.1.3.1. Synchronous Condensers Market: By Starting Method, 2020-2030, USD (Million)
14.7.1.3.1. Synchronous Condensers Market: By Reactive Power Rating, 2020-2030, USD (Million)
14.7.1.3.1. Synchronous Condensers Market: By End User, 2020-2030, USD (Million)

15. Company Profile
15.1. ABB, Ltd.
15.1.1. Company Overview
15.1.2. Financial Performance
15.1.3. Product Portfolio
15.1.4. Strategic Initiatives
15.2. Andritz
15.2.1. Company Overview
15.2.2. Financial Performance
15.2.3. Product Portfolio
15.2.4. Strategic Initiatives
15.3. Eaton Corporation Plc
15.3.1. Company Overview
15.3.2. Financial Performance
15.3.3. Product Portfolio
15.3.4. Strategic Initiatives
15.4. Fuji Electric
15.4.1. Company Overview
15.4.2. Financial Performance
15.4.3. Product Portfolio
15.4.4. Strategic Initiatives
15.5. General Electric
15.5.1. Company Overview
15.5.2. Financial Performance
15.5.3. Product Portfolio
15.5.4. Strategic Initiatives
15.6. Ideal Electric Power Co.
15.6.1. Company Overview
15.6.2. Financial Performance
15.6.3. Product Portfolio
15.6.4. Strategic Initiatives
15.7. Mitsubishi Electric Corporation
15.7.1. Company Overview
15.7.2. Financial Performance
15.7.3. Product Portfolio
15.7.4. Strategic Initiatives
15.8. Siemens Energy
15.8.1. Company Overview
15.8.2. Financial Performance
15.8.3. Product Portfolio
15.8.4. Strategic Initiatives
15.9. Voith GmbH & Co. KGaA
15.9.1. Company Overview
15.9.2. Financial Performance
15.9.3. Product Portfolio
15.9.4. Strategic Initiatives
15.10. WEG Group
15.10.1. Company Overview
15.10.2. Financial Performance
15.10.3. Product Portfolio
15.10.4. Strategic Initiatives
15.11. Modern Power Systems
15.11.1. Company Overview
15.11.2. Financial Performance
15.11.3. Product Portfolio
15.11.4. Strategic Initiatives
15.12. Toshiba Corporation
15.12.1. Company Overview
15.12.2. Financial Performance
15.12.3. Product Portfolio
15.12.4. Strategic Initiatives
15.13. Brush Group
15.13.1. Company Overview
15.13.2. Financial Performance
15.13.3. Product Portfolio
15.13.4. Strategic Initiatives
15.14. Sustainable Power Systems, Inc.,
15.14.1. Company Overview
15.14.2. Financial Performance
15.14.3. Product Portfolio
15.14.4. Strategic Initiatives
15.15. Power Systems & Controls, Inc.
15.15.1. Company Overview
15.15.2. Financial Performance
15.15.3. Product Portfolio
15.15.4. Strategic Initiatives
15.16. Ansaldo Energia
15.16.1. Company Overview
15.16.2. Financial Performance
15.16.3. Product Portfolio
15.16.4. Strategic Initiatives
15.17. Power Systems & Controls, Inc.
15.17.1. Company Overview
15.17.2. Financial Performance
15.17.3. Product Portfolio
15.17.4. Strategic Initiatives

List of Figures
Figure 1 Global Synchronous Condensers Market: Market Coverage
Figure 2 Research Methodology and Data Sources
Figure 3 Market Size Estimation - Top Down & Bottom-Up Approach
Figure 4 Global Synchronous Condensers Market: Quality Assurance
Figure 5 Global Synchronous Condensers Market, By Type, 2021
Figure 6 Global Synchronous Condensers Market, By Cooling Type, 2021
Figure 7 Global Synchronous Condensers Market, By Starting Method, 2021
Figure 8 Global Synchronous Condensers Market, By Reactive Power Rating, 2021
Figure 9 Global Synchronous Condensers Market, By End User, 2021
Figure 10 Global Synchronous Condensers Market, By Geography, 2021
Figure 11 Market Geographical Opportunity Matrix - Global Synchronous Condensers Market, 2021
Figure 12 Market Positioning of Key Synchronous Condensers Market Players, 2021
Figure 13 Global Synchronous Condensers Market - Tier Analysis - Percentage of Revenues by Tier Level, 2021 Versus 2030
Figure 14 Global Synchronous Condensers Market, By Type, 2021 Vs 2030, %
Figure 15 Global Synchronous Condensers Market, By Cooling Type, 2021 Vs 2030, %
Figure 16 Global Synchronous Condensers Market, By Starting Method, 2021 Vs 2030, %
Figure 17 Global Synchronous Condensers Market, By Reactive Power Rating, 2021 Vs 2030, %
Figure 18 Global Synchronous Condensers Market, By End User, 2021 Vs 2030, %
Figure 19 U.S. Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 20 Canada Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 21 Rest of North America Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 22 UK Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 23 Germany Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 24 Spain Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 25 Italy Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 26 France Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 27 Rest of Europe Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 28 China Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 29 Japan Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 30 India Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 31 Australia Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 32 South Korea Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 33 Rest of Asia Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 34 Brazil Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 35 Mexico Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 36 Rest of Latin America Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 37 GCC Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 38 Africa Synchronous Condensers Market (US$ Million), 2020 - 2030
Figure 39 Rest of Middle East and Africa Synchronous Condensers Market (US$ Million), 2020 - 2030

List of Tables
Table 1 Global Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 2 Global Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 3 Global Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 4 Global Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 5 Global Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 6 North America Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 7 North America Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 8 North America Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 9 North America Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 10 North America Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 11 U.S. Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 12 U.S. Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 13 U.S. Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 14 U.S. Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 15 U.S. Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 16 Canada Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 17 Canada Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 18 Canada Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 19 Canada Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 20 Canada Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 21 Rest of North America Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 22 Rest of North America Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 23 Rest of North America Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 24 Rest of North America Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 25 Rest of North America Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 26 UK and European Union Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 27 UK and European Union Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 28 UK and European Union Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 29 UK and European Union Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 30 UK and European Union Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 31 UK Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 32 UK Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 33 UK Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 34 UK Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 35 UK Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 36 Germany Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 37 Germany Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 38 Germany Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 39 Germany Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 40 Germany Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 41 Spain Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 42 Spain Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 43 Spain Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 44 Spain Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 45 Spain Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 46 Italy Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 47 Italy Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 48 Italy Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 49 Italy Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 50 Italy Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 51 France Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 52 France Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 53 France Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 54 France Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 55 France Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 56 Rest of Europe Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 57 Rest of Europe Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 58 Rest of Europe Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 59 Rest of Europe Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 60 Rest of Europe Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 61 Asia Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 62 Asia Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 63 Asia Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 64 Asia Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 65 Asia Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 66 China Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 67 China Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 68 China Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 69 China Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 70 China Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 71 Japan Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 72 Japan Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 73 Japan Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 74 Japan Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 75 Japan Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 76 India Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 77 India Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 78 India Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 79 India Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 80 India Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 81 Australia Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 82 Australia Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 83 Australia Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 84 Australia Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 85 Australia Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 86 South Korea Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 87 South Korea Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 88 South Korea Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 89 South Korea Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 90 South Korea Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 91 Latin America Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 92 Latin America Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 93 Latin America Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 94 Latin America Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 95 Latin America Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 96 Brazil Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 97 Brazil Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 98 Brazil Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 99 Brazil Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 100 Brazil Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 101 Mexico Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 102 Mexico Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 103 Mexico Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 104 Mexico Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 105 Mexico Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 106 Rest of Latin America Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 107 Rest of Latin America Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 108 Rest of Latin America Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 109 Rest of Latin America Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 110 Rest of Latin America Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 111 Middle East and Africa Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 112 Middle East and Africa Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 113 Middle East and Africa Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 114 Middle East and Africa Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 115 Middle East and Africa Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 116 GCC Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 117 GCC Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 118 GCC Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 119 GCC Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 120 GCC Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 121 Africa Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 122 Africa Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 123 Africa Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 124 Africa Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 125 Africa Synchronous Condensers Market By End User, 2020-2030, USD (Million)
Table 126 Rest of Middle East and Africa Synchronous Condensers Market By Type, 2020-2030, USD (Million)
Table 127 Rest of Middle East and Africa Synchronous Condensers Market By Cooling Type, 2020-2030, USD (Million)
Table 128 Rest of Middle East and Africa Synchronous Condensers Market By Starting Method, 2020-2030, USD (Million)
Table 129 Rest of Middle East and Africa Synchronous Condensers Market By Reactive Power Rating, 2020-2030, USD (Million)
Table 130 Rest of Middle East and Africa Synchronous Condensers Market By End User, 2020-2030, USD (Million)

Companies Mentioned

  • ABB Ltd.
  • Andritz
  • Eaton Corporation Plc
  • Fuji Electric
  • General Electric
  • Ideal Electric Power Co.
  • Mitsubishi Electric Corporation
  • Siemens Energy
  • Voith GmbH & Co. KGaA
  • WEG Group
  • Modern Power Systems
  • Toshiba Corporation
  • Brush Group
  • Sustainable Power Systems Inc.
  • Power Systems & Controls Inc.
  • Ansaldo Energia
  • Power Systems & Controls Inc.

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