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Global Synchronous Condenser Market By Cooling Type (Water-Cooled, Hydrogen-Cooled, Others), By Starting Method (Pony Motor, Static Frequency Converter, Others), By Type, By End-Users, By Region, Forecast & Opportunities to 2026

The global synchronous condenser market accounted for a value of USD 511 million in 2019 and is projected to register growth at a CAGR of 3.0% during forecast period.

COVID-19 has impacted synchronous condenser market. The manufacturing units have to halt its production due to lockdown. The supply chain of raw materials and finished products is disrupted due to travel restriction. The demand for synchronous condenser has been decline due to spread of corona virus.

Definition:

A synchronous condenser can be defined as a DC excited synchronous motor whose shaft is connected to spins freely. It converts electrical power into mechanical power. The field of synchronous condenser is controlled by voltage regulator which either absorbs or generates reactive power as needed to make adjustments in grid’s voltage.

Market Dynamics (Drivers/Opportunities):

The government is adopting various initiatives to replace nuclear power generation and fossil fuel with renewables. The requirement for power factor is increasing around the world. This increases demand for synchronous condenser and drives growth in synchronous condenser.

The demand for renewable based power generation is increasing around the world. The conventional power plants are decommissioning rapidly. The network for high voltage direct current has a significant effect on transmission grid stability. Synchronous condensers help in generating lagging and to stabilize the transmission grid. This increases adoption of synchronous condenser and drives growth in this market during forecast period.

Market Insights, by Cooling Type

On the basis of cooling type, the synchronous market is segmented into water-cooled, air-cooled and hydrogen-cooled. The hydrogen-cooled segment is estimated to dominate the market during forecast period. The adoption of synchronous condenser between 100 Mega Volt Amps to 300 Mega Volt Amp is increasing around the world. Such synchronous condenser required hydrogen cooling systems for efficient cooling. The hydrogen cooling system is largely adopted and this drives growth in hydrogen-cooled segment during forecast period.

Market Insights, by Starting Method

On the basis of cooling type, the synchronous market is segmented into pony motor, static frequency converter and others. The static frequency converter segment is estimated to hold largest market share during forecast period. it is independent of load variations and supply voltage. It has low maintenance cost, low volume and high reliability. It has low noise characteristic. This increases demand for static frequency converter and drives growth in this segment during forecast period.

Regional Insights

North America region is estimated to hold largest market share during forecast period. The demand for synchronous condenser is very high in this region. The demand for synchronous condenser is high in Canada and US. The old power plants are converting into synchronous condensers in this region. This drives growth in North America region during forecast period.

Key Companies & Market Share Insights

The key market players in synchronous condenser industry are ABB, Siemens, WEG, Voith group, Fuji Electric, GE, Eaton, Hyundai Ideal Electric, Sustainable Power Systems, Electromechanical Engineering Associates, Power Systems & Controls, Ansaido Energia, Andritz, Toshiba and WEG.

Segments Covered in the Report

This report forecasts The Global Synchronous Condenser Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global synchronous condenser market report on the basis of cooling type, starting method, type and end-users.

Synchronous Condenser Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Synchronous Condenser Market, By Cooling Type, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Water-Cooled
  • Air-Cooled
  • Hydrogen-Cooled
  1. Synchronous Condenser Market, By Type, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • New
  • Refurbished
  1. Synchronous Condenser Market, By Starting Method, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Pony Motor
  • Static Frequency Converter
  • Others
  1. Synchronous Condenser Market, By End-Users, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Electric Utility
  • Industries
  1. Synchronous Condenser Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Cooling Type
    • By type
    • By Starting Method
    • By End-Users
    • By Country
      • USA
        • By End-Users
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Cooling Type
      • By type
      • By Starting Method
      • By End-Users
      • By Country
        • Brazil
          • By End-Users
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Cooling Type
        • By type
        • By Starting Method
        • By End-Users
        • By Country
          • UK
            • By End-Users
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Cooling Type
          • By type
          • By Starting Method
          • By End-Users
          • By Country
            • China
              • By End-Users
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Cooling Type
            • By type
            • By Starting Method
            • By End-Users
            • By Country
              • Saudi Arabia
                • By End-Users
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • WEG
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • ABB
    • Siemens
    • WEG
    • Voith Group
    • Fuji Electric
    • GE
    • Eaton
    • Hyundai Ideal Electric
    • Sustainable Power Systems
    • Electromechanical Engineering Associates
    • Power Systems & Controls
    • Ansaido Energia
    • Andritz
    • Toshiba
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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