Global Synchronous Condenser Market Growth 2023-2029

Global Synchronous Condenser Market Growth 2023-2029

Product Code:450660

Published Date: Feb 08,2023

Pages: 97

Region: Global

Category: Energy & Power

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In electrical engineering, a synchronous condenser (sometimes called a synchronous capacitor or synchronous compensator) is a device, identical to a synchronous motor, whose shaft is not connected to anything but spins freely.

Its purpose is not to convert electric power to mechanical power or vice versa, but to adjust conditions on the electric power transmission grid. Its field is controlled by a voltage regulator to either generate or absorb reactive power as needed to adjust the grid's voltage, or to improve power factor. The condenser’s installation and operation are identical to large electric motors and generators.

LPI (LP Information)' newest research report, the “Synchronous Condenser Industry Forecast” looks at past sales and reviews total world Synchronous Condenser sales in 2022, providing a comprehensive analysis by region and market sector of projected Synchronous Condenser sales for 2023 through 2029. With Synchronous Condenser sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Synchronous Condenser industry.

This Insight Report provides a comprehensive analysis of the global Synchronous Condenser landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Synchronous Condenser portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Synchronous Condenser market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Synchronous Condenser and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Synchronous Condenser.

The global Synchronous Condenser market size is projected to grow from US$ 165.5 million in 2022 to US$ 214 million in 2029; it is expected to grow at a CAGR of 214 from 2023 to 2029.

The industry's leading manufacturers are Siemens, Shanghai Electric and Dongfang Electric, which accounted for 16 percent, 27 percent and 26 percent of revenues respectively in 2019.

This report presents a comprehensive overview, market shares, and growth opportunities of Synchronous Condenser market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:
Segmentation by type
    Below 100 M Var
    100-200 M Var
    Above 200 M Var

Segmentation by application
    Transmission System Strength
    HVDC Link Support
    New Energy
    Others

This report also splits the market by region:
    Americas
        United States
        Canada
        Mexico
        Brazil
    APAC
        China
        Japan
        Korea
        Southeast Asia
        India
        Australia
    Europe
        Germany
        France
        UK
        Italy
        Russia
    Middle East & Africa
        Egypt
        South Africa
        Israel
        Turkey
        GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
    Siemens
    GE
    Voith
    WEG
    Ansaldo Energia
    Shanghai Electric
    Dongfang Electric
    Harbin Electric

Key Questions Addressed in this Report
What is the 10-year outlook for the global Synchronous Condenser market?
What factors are driving Synchronous Condenser market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Synchronous Condenser market opportunities vary by end market size?
How does Synchronous Condenser break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?