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

Synchronous Condenser Market: Global Forecast until 2021

  • February 2017
  • 136 pages
  • ID: 4698594
In this report:
The hydrogen-cooling segment was estimated to be the largest market with a share of approximately ##.##% in 2016, and is expected to grow at a CAGR of ##.##% during the forecast period.
By 2021, the new type of synchronous condenser segment is projected to hold around ##.##% of the global synchronous condenser market, and is expected to grow at a CAGR of ##.##% during the forecast period.

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"The synchronous condensers market is forecasted to reach $572.90M by 2021, at a compound annual growth rate of 2.10 percent from 2016 to 2021"

The synchronous condensers market is estimated to grow $572.90M by 2021, increasing at a compound annual growth rate (CAGR) of 2.10 percent from 2016 to 2021. The growing electrical power consumption and increasing need to maximize transmission capacity are becoming increasingly important. Along with this, increasing renewable-based power generation in the energy mix, retiring conventional power plants, and increasing network of High-Voltage Direct Current 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 provides different advantages over the other substitutes including 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 main factors restraining the increase of the synchronous condenser market.

"Synchronous condensers rated above 200 MVAr dominate the worldwide market"

Synchronous condensers rated above 200 MVAr held the largest part of market share in 2015, and is anticipated to be the fastest-growing segment in the synchronous condensers market from 2016 to 2021. This rise is evident owing to increasing installations of synchronous condensers rated above 200 MVAr, especially in North America and Europe (EU).

"Hydrogen cooled synchronous condensers dominate the overall market"

Hydrogen-cooled synchronous condenser segment held the biggest market share in 2015, and is anticipated to be the fastest-growing segment in the synchronous condensers market from 2016 to 2021. This increase is assigned to the adoption and efficiency of large-sized synchronous condensers for reactive power rating of above 200 Mega Volt Amps.

"North America continent to lead the overall synchronous condensers market in terms of increase rate"

The synchronous condensers market in North America (NA) is expected to grow at the quickest rate during the outlook period. Gradual phasing out of thermal power plants and growing renewable power generation are driving the synchronous condensers market in the area. North America continent is followed by EU. Demand for synchronous condensers in Europe (EU) is mainly influenced by growing HVDC network in the territory.

Key players' distribution profiles:

Comprehensive interviews have been managed with several key industry participants, subject matter experts, C-suite executives of key industry players, and industry consultants, among other experts, to verify and obtain critical qualitative and quantitative info as well as to evaluate future industry prospects. The classification of primaries interviews is like:

By Company Type: Tier 1 69.0 percent, Tier 2 22.0 percent, Tier 3 9.0 percent

By Designation: C-Level- 35.0 percent, D-Level- 38.0 percent, Others- 27.0 percent

By area: North america (NA)- 52%, Europe- 29.0 percent, Asia-pac- 8%, Rest of the World- 11.0 percent

Note: *Others contain sales managers, marketing managers, and product managers

The 1/3 of the companies, the tiers of the corporations is defined based on their full revenue, as of 2013: Tier 1 = >USD 10 billion, Tier 2 = from $1.0B to $10.0B and Tier 3 =

Leading actors of this sector have been profiled with their new developments and other strategic activities. These include Siemens Aktiengesellschaft, General Electric Company, Eaton Corporation, ABB Ltd., and Voith GmbH.

Segment Research

The study offers a picture on the synchronous condenser market across various industry verticals and localities. It aims at evaluating the market value and upcoming growth potential of this market across several segments, including type, cooling type, end-user, starting method, reactive power rating, and area.

Moreover, the analysis also comprises a detailed competitive analysis of the top players in the sector together with their company descriptions, SWOT study, recent evolutions, and key industries strategies.

Main highlights

The market research will facilitate the market top players/new sector entrants in this sector by providing them the closest approximations of the revenue numbers for the global synchronous condenser market and its sub-segments. This business report will facilitate partners to better apprehend the competitive landscape and obtain additional insights to better option their businesses and make suitable go-to-market approaches. The industry report also benefits the partners to apprehend the pulse of the industry and offers them information on main market drivers, industry restraints, opportunities, and alternatives.

Why acquire this industry report?

1. The study determines and addresses main markets for synchronous condensers which is useful for suppliers, Original equipment manufacturers, and Utilities to examine production and distribution plans.

2. The analysis benefits manufacturers to comprehend the pulse of the sector and offers business insights on drivers, market restraints, and opportunities.

3. The market research will facilitate Original equipment manufacturers to better find out the competition strategies and will benefit in making tactical conclusions.

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