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North America Flywheel Synchronous Condenser Market Trends

Report ID: GMI9767
Published Date: Jun 2024
Report Format: PDF

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North America Flywheel Synchronous Condenser Market Trends

Ongoing grid modernization initiatives across North America are driving the adoption of advanced energy storage technologies. Flywheel synchronous condensers are integral to these efforts, providing fast-acting and reliable support for frequency regulation, load balancing, and other ancillary services. The economic advantages of flywheel synchronous condensers, including lower operational costs and the ability to defer or avoid costly grid upgrades, are becoming more apparent. These systems offer a cost-effective solution for enhancing grid stability and reliability without the need for extensive infrastructure investments.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size for flywheel synchronous condenser in North America reached USD 38.1 million in 2023 and will witness 8.9% CAGR between 2024 and 2032, led by the increasing integration of renewable energy sources, which require grid stability and reactive power support.

The hydrogen cooled segment will record more than USD 35 million by 2032, primarily due to its superior cooling efficiency and enhanced performance in high-capacity applications.

U.S. market size will surpass USD 74.5 million by 2032, owing to robust grid infrastructure development and the increasing deployment of renewable energy sources.

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