Synchronous Condenser Market Report 2026

The synchronous condenser market size has grown strongly in recent years. It will grow from $1.13 billion in 2025 to $1.19 billion in 2026 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to expansion of conventional power plants, reliance on rotating machines for grid stability, early deployment of synchronous condensers, growth of transmission networks, increasing industrial electricity demand.

The synchronous condenser market size is expected to see steady growth in the next few years. It will grow to $1.45 billion in 2030 at a compound annual growth rate (CAGR) of 5%. The growth in the forecast period can be attributed to increasing renewable energy penetration, rising need for synthetic inertia solutions, expansion of transmission grid upgrades, growing investments in grid stability solutions, increasing replacement of retiring thermal generators. Major trends in the forecast period include increasing deployment of grid stabilization equipment, rising use in renewable energy integration, growing adoption of refurbished synchronous condensers, expansion of high-capacity reactive power installations, enhanced focus on grid inertia support.

The growing demand for renewable energy sources is anticipated to drive the expansion of the synchronous condenser market in the coming years. Renewable energy sources are naturally replenishing resources such as solar, wind, hydro, geothermal, and biomass used for sustainable energy generation. This increasing reliance on renewables is largely due to efforts aimed at lowering greenhouse gas emissions and reducing dependence on fossil fuels, thereby addressing climate change, improving energy security, and promoting sustainable development. Synchronous condensers contribute to grid stability by supplying reactive power and regulating voltage, which facilitates the integration of intermittent renewable energy sources like wind and solar into the grid. For example, in December 2024, Eurostat, a government agency based in Luxembourg, reported that renewable energy accounted for 24.5% of energy consumption in the EU in 2023, up from 23% in 2022. Thus, the growing demand for renewable energy sources is boosting the synchronous condenser market.

Leading players in the synchronous condenser market are concentrating on creating advanced products such as high-efficiency, compact systems with improved grid stabilization features to facilitate renewable energy integration and enhance grid reliability. These systems offer benefits such as better energy efficiency, reduced space needs, and consistent grid performance amid fluctuating renewable energy inputs. For instance, in June 2024, ANDRITZ AG, an Austria-based industrial machinery company, introduced synchronous condensers in India, a major initiative aimed at improving grid stability and supporting the country's renewable energy transition. The launch event, titled “Synchronous Condensers - Enabling Green Energy Transition,” was attended by senior representatives from prominent Indian power sector organizations including the Central Electricity Authority (CEA), Grid India, and the Northern Regional Power Committee (NRPC). ANDRITZ emphasized the rising global demand for synchronous condenser technology, which plays a vital role in stabilizing power systems by managing voltage and reactive power, particularly as countries like India integrate more wind and solar energy.

In April 2024, Hitachi Energy Ltd, a Switzerland-based power technology company, joined forces with SP Energy Networks to improve the transmission of renewable energy throughout Great Britain’s power grid. The collaboration focuses on enhancing grid stability, reliability, and power quality, allowing greater transfer of renewable electricity - especially wind energy - from Scotland to England by implementing advanced grid solutions like STATCOMs and synchronous condensers. Scottish Power Energy Networks Holdings Limited is a UK-based energy company responsible for operating and maintaining electricity transmission and distribution networks across central and southern Scotland, Merseyside, Cheshire, and North Wales.

Major companies operating in the synchronous condenser market are Siemens Energy AG, General Electric Company, ABB Ltd, WEG S.A, Ansaldo Energia S.p.A, Shanghai Electric Group Company Limited, Voith GmbH & Co KGaA, Mitsubishi Electric Corporation, Fuji Electric Co Ltd, Eaton Corporation plc, ANDRITZ AG, Hitachi Energy Ltd, Dongfang Electric Corporation, Harbin Electric Corporation, BRUSH Electrical Machines Ltd, Toshiba Corporation, Bharat Heavy Electricals Limited (BHEL), Hyosung Heavy Industries Corporation, Doosan Škoda Power, Nidec Corporation.

North America was the largest region in the synchronous condenser market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the synchronous condenser market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the synchronous condenser market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The synchronous condenser market consists of sales of brushless excitation systems, hydraulic static starters, high voltage circuit breakers, protection relays and monitoring systems, automatic voltage regulators, rotor and stator assemblies. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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