Home > Energy & Power > Electrical Equipment > Synchronous Condenser > Synchronous Condenser Market

Synchronous Condenser Market Trends

  • Report ID: GMI5945
  • Published Date: Jun 2024
  • Report Format: PDF
 Download Free Sample

Synchronous Condenser Market Trends

Aging power infrastructure in many regions necessitates modernization to meet contemporary energy demands and regulatory standards. Synchronous condensers are increasingly deployed as part of this upgrade process, offering improved performance and reliability over older equipment. This trend is particularly evident in North America and Europe, where significant investments are being made to update electrical grids.
 

The development of smart grids, which leverage advanced communication and control technologies to optimize power distribution and usage, is another key trend. Synchronous condensers play a crucial role in smart grids by providing dynamic reactive power compensation, thereby enhancing the efficiency and stability of these systems. This synergy between smart grid technology and synchronous condensers is driving market growth.

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of synchronous condenser was reached USD 1.4 billion in 2023 and is anticipated to grow at 4.8% CAGR through 2032, due to the rising demand for grid stability and reactive power support.

The air-cooled segment in the synchronous condenser market is anticipated to exceed USD 1 billion by 2032, due to the cost-effectiveness, ease of maintenance, and environmental benefits of air-cooled synchronous condensers.

Europe synchronous condenser is anticipated to surpass USD 800 million by 2032 owing to the integration of advanced technologies such as AI, ML, and the Internet of Things (IoT) across various industries.

Ansaldo Energia, ABB, Doosan, Eaton, General Electric, Hitachi Energy Ltd., Mitsubishi Electric Power Products, Inc., NIDEC Corporation, Power Systems & Controls, Inc., Siemens Energy, Shanghai Electric, Toshiba Energy Systems & Solutions Corporation, and WEG

Synchronous Condenser Market Scope

  • Synchronous Condenser Market Size
  • Synchronous Condenser Market Trends
  • Synchronous Condenser Market Analysis
  • Synchronous Condenser Market Share

    • Buy Now

    Premium Report Details

    • Base Year: 2023
    • Companies covered: 13
    • Tables & Figures: 15
    • Countries covered: 17
    • Pages: 350
     Download Free Sample
    Download PDF Copy
    ×
    Get a free sample of Synchronous Condenser Market
    Inquiry Before Buying
    Get special pricing options on this report
    Request Sectional Data
    Over 70% of our clients customize reports to fit their needs. Please tell us how you would like to customize yours below

    Your personal details will remain secure and confidential.