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Utility Scale Synchronous Condenser Market Share

Report ID: GMI10017
Published Date: Jun 2024
Report Format: PDF

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Utility Scale Synchronous Condenser Market Share

Companies like ABB, Eaton, and Siemens hold significant market share in the utility-scale synchronous condenser market due to their advanced technological capabilities, extensive industry experience, and comprehensive product portfolios. These firms have established reputations for reliability and innovation, offering state-of-the-art solutions that meet stringent grid stability requirements.

Utility Scale Synchronous Condenser Market Companies

ABB
ANDRITZ Group
Ansaldo Energia
Baker Huges
Doosan
Eaton
General Electric
Hitachi Energy Ltd.
IDEAL Electric Company
Mitsubishi Electric Power Products, Inc.
Power Systems & Controls, Inc.
Siemens Energy
Toshiba Energy Systems
WEG

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

Industry size for utility scale synchronous condenser was worth USD 1.1 billion in 2023 and is projected to expand at 4.2% CAGR from 2024 to 2032 due to increasing renewable energy integration and grid stability needs.

The utility scale synchronous condenser market share from the air-cooled cooling segment is projected to surpass USD 0.7 billion by 2032, owing to the cost-effectiveness, operational efficiency, ease of installation associated with air-cooled utility scale synchronous condensers.

The static drive starting method segment is projected to grow at over 3.7% CAGR between 2024 and 2032, as static drive utility scale synchronous condensers minimize energy losses during the startup process by providing precise control over the starting current and voltage.

Europe utility scale synchronous condenser industry is estimated to exceed USD 0.5 billion by 2032, led by the strong commitment to renewable energy and supportive regulatory framework across the region.