Synchronous Condenser Market By Type (New Synchronous Condenser, Others), By Cooling Type (Hydrogen-Cooled and Others), By Starting Method (Static Frequency Converter and Others), By End-User (Electrical Utilities and Industries), By Reactive Power Rating (Up to 100 MVAR, 00 MVAR–200 MVAR and Above 200 MVAR), By Company and By Geography, Forecast & Opportunities, 2027

Global synchronous condenser market is projected to grow at formidable rate during the forecast period. The growth in the market can be attributed to rising need for power factor correction, increasing renewable power generation and long service life.

Global synchronous condenser market is segmented based on type, cooling type, starting method, end user, reactive power rating and region. Based on cooling type, the market has been segmented into hydrogen-cooled, air-cooled and water-cooled. In 2021, the hydrogen-cooled synchronous condenser segment dominated the market and is expected to maintain its dominance over the next five years as well. Based on End-user segment, the market has been categorised into electrical utilities and industries. The Electric utilities segment is estimated to grow at the highest rate in the end-user segment of the synchronous condenser market during the forecast period owing to large-scale demand by utilities for high-capacity synchronous condensers.

Some of the leading players operating in the global synchronous condenser market are Siemens AG, ABB Ltd., Sustainable Power Systems Inc., Eaton Corporation PLC., Power Systems and Control Inc, WEG SA, Fuji Electric Co. Ltd., General Electric Company, Electromechanical Engineering Associates Inc., Hyundai Ideal Electric Co., etc.

Objective of the Study

• To analyse and forecast the market size of Synchronous Condenser Market, in terms of value.
• To classify and forecast Global Synchronous Condenser Market based on type, cooling, starting method, end-user, reactive power rating and regional distribution.
• To identify drivers and challenges for Global Synchronous Condenser Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Global Synchronous Condenser Market.
• To conduct the pricing analysis for Synchronous Condenser Market.
• To identify and analyse the profile of leading players involved in the manufacturing of Global Synchronous Condenser Market.

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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of manufacturers across the globe. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the suppliers which could not be identified due to the limitations of secondary research. Market insights research analysed the service offerings, distribution channels and presence of all major collaboration manufacturer across the globe.

Market insights research calculated the market size of Global

Key Target Audience

• Synchronous Condenser Manufacturers
• Raw material suppliers
• Energy consultants
• Traders, Distributors, and Suppliers
• Industry associations and experts
• Research organizations and consulting companies.
• Research Institutes
• Industry associations
• Market research and consulting firm.

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration manufacturer and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.