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Europe Flywheel Synchronous Condenser Market Trends

Report ID: GMI9745
Published Date: Jun 2024
Report Format: PDF

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Europe Flywheel Synchronous Condenser Market Trends

European regulatory frameworks and policies aimed at promoting clean energy and grid modernization are fostering the market growth of flywheel synchronous condenser. Incentives for grid stabilization technologies and mandates for renewable energy adoption are encouraging investments in advanced energy storage solutions. Both public and private sector investments are rising in the development and deployment of flywheel synchronous condensers. Funding for research and development, as well as pilot projects and large-scale deployments, is accelerating technological advancements and market penetration.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of Europe flywheel synchronous condenser was crossed USD 48.9 million in 2023 and is projected to expand at 14.9% CAGR from 2024 to 2032, owing to the growing integration of intermittent renewable energy sources, such as wind and solar power into the grid.

The pony motors starting method segment in the Europe flywheel synchronous condenser market is estimated to reach USD 22.7 million by 2032, as these motors bring the synchronous condenser up to its synchronous speed before it takes over autonomously as the driving force.

The air-cooled segment in the Europe flywheel synchronous condenser industry is projected grow at over 13.4% CAGR from 2024 to 2032, due to the increasing penetration of renewable energy sources, such as wind and solar power.

Germany market for flywheel synchronous condenser is projected to record more than USD 44.5 million by 2032, led by supportive government policies and regulatory frameworks in the region.