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Flywheel Synchronous Condenser Market Trends

Report ID: GMI9658
Published Date: May 2024
Report Format: PDF

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Flywheel Synchronous Condenser Market Trends

Synchronous condensers, with their ability to support grid stability, are integral to these initiatives. Power quality concerns, such as voltage stability and reactive power control, are becoming more prominent. Synchronous condensers are viewed as effective tools to address these issues and enhance overall power system performance. The growing focus on environmental sustainability and compliance with environmental regulations has also driven the adoption of technologies that improve grid efficiency. In this context, synchronous condensers are considered a valuable component of power system infrastructure.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The flywheel synchronous condenser market size was USD 93.1 million in 2023 and is envisioned to grow at 18.5% CAGR through 2024- 2032, owing to their capacity to support the grid, enhance stability, and provide reactive power compensation.

The static drive starting segment of the market will grow at over 18.1% CAGR during 2024- 2032, as they offer rapid response times and exceptional dynamic performance in synchronous condensers.

Asia Pacific flywheel synchronous condenser market size is anticipated to reach over USD 120 million by 2032, driven by advances in cooling technologies.

ABB, ANDRITZ, Ansaldo Energia, Baker Hughes, Doosan Škoda Power, General Electric, Ingeteam, Mitsubishi Electric Power Products, Inc., and Siemens Energy among others.