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Utility Scale Air Cooled Synchronous Condenser Market Trends

  • Report ID: GMI10941
  • Published Date: Aug 2024
  • Report Format: PDF

Utility Scale Air Cooled Synchronous Condenser Market Trends

There is a growing emphasis on sustainable and eco-friendly grid technologies, and utility scale air-cooled synchronous condensers are aligned with this trend. Unlike water-cooled systems, utility scale air-cooled condensers reduce water usage and environmental impact, making them a preferred choice in sustainability-conscious projects. Moreover, as more renewable energy sources are integrated into power grids, synchronous condensers are being increasingly deployed to maintain grid stability. Renewable energy sources, particularly wind and solar, lack inherent inertia, which is crucial for frequency stability. Synchronous condensers with utility scale air-cooled technology provide this inertia, making them an essential part of modern power systems transitioning to greener energy.
 

The growing complexity of modern power grids, along with the rising frequency of extreme weather events, is prompting utilities to invest in technologies that boost grid resilience. Synchronous condensers provide a dependable solution for stabilizing the grid by delivering essential reactive power support and voltage regulation, especially in weaker grid regions. Furthermore, ongoing technological advancements are improving the efficiency and performance of utility-scale air-cooled synchronous condensers. Manufacturers are concentrating on minimizing energy losses, extending operational lifespans, and incorporating advanced control systems for enhanced performance monitoring.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of utility scale air cooled synchronous condenser was worth over USD 570.4 million in 2023 and is expected to register 3.7% CAGR from 2024 to 2032, owing to increasing investments in grid modernization, digitalization, and smart city initiatives worldwide.

Utility scale air cooled synchronous condenser industry from the static drive segment is expected to reach USD 594.3 million by 2032, due to its advantages in improving operational flexibility, efficiency, and control.

Europe utility scale air cooled synchronous condenser industry is expected to reach USD 321.5 million by 2032, due to aggressive shift toward renewable energy and the resulting need for grid stability in the region.

ABB, Eaton, Mitsubishi Electric Power Products, Inc., Nidec Corporation, Power Systems & Controls, Inc., Shanghai Electric, Siemens Energy, Toshiba Energy Systems & Solutions Corporation, and WEG are some of the major utility scale air cooled synchronous condenser companies worldwide.

Utility Scale Air Cooled Synchronous Condenser Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 13
  • Tables & Figures: 9
  • Countries covered: 16
  • Pages: 100
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