Synchronous Condenser Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The synchronous condenser market was valued at $57.64 million in 2019 and is to reach $588 million in 2028. It is to grow at an annual average of 2% from 2022 to 2028. This growth is due to increased renewable generation, long service life and increased demand for power factor correction. Existing and planned upgrades and expansions of high voltage direct current (HVDC) networks worldwide in various regions are expected to increase the demand for power factor correction equipment such as synchronous capacitors.

Company Profile

• ABB Ltd.
• Brush Group
• Eaton Corporation plc
• FUJI ELECTRIC CO., LTD.
• General Electric Company
• IDEAL ELECTRIC POWER CO.
• Mitsubishi Electric Power Products, Inc. (Mitsubishi Electric Corporation)

Market Segmentation

By Cooling Type

• Air-Cooled
• Hydrogen-Cooled
• Water-Cooled

By Reactive Power Rating

• Up to 100 MVAr
• 100–200 MVAr
• Above 200 MVAr

By Starting Method

• Pony Motor
• Static Frequency Converter
• Others

By Application

• Metal and Mining
• Electrical Utilities and Grid Operators
• Marine
• Oil and Gas

Scope of the Report

The research study analyzes the global Synchronous Condenser industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Synchronous Condenser Market Report

1. What was the Synchronous Condenser Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2022-2028).

2. What will be the CAGR of Synchronous Condenser Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Synchronous Condenser Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.