Synchronous Condenser Market
Synchronous Condenser - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Synchronous Condenser Market is accounted for $528.39 million in 2018 and is expected to reach $745.58 million by 2027 growing at a CAGR of 3.9% during the forecast period. Factors such as growing need for Power Factor Correction (PFC) and increasing demand for renewable power generation are driving the market growth. However, high maintenance and equipment cost may act as negative element for the market. Moreover, converting the existing synchronous generators into synchronous condensers and expanding High-Voltage Direct Current (HVDC) network are creating lucrative opportunities across the globe.
Synchronous condenser is also termed as synchronous compensator. This device is commonly used to control the grid voltage. In addition, it also adjusts conditions on the electric power transmission grid. The field of the synchronous machine is normally composed by a voltage regulator in order to either produce or absorb reactive power which is needed to adjust the grid's voltage or to enhance power factor. The synchronous condenser systems deliver an incredibly reliable and effective solution to address receptive compensation and voltage sustenance necessities. In addition, it also provides an optimized solution for cost to the transmission operators as well as performance and operational flexibility.
Based on cooling type, Hydrogen Cooled synchronous condenser is going to have a lucrative growth due to the widespread adoption of large-sized synchronous condensers between 100 Mega Volt Amps (reactive) (MVAr) and 300 MVAr capacity. Hydrogen cooling is an efficient option for synchronous condensers of these capacities. By geography, North America is estimated to have a huge demand in the forecast period. The market in the region is anticipated to expand in the near future due to factors such as installation of new power plants in the U.S. and increasing use of synchronous condensers in the existing power plants in the country.
Some of the key players in Global Synchronous Condenser market include General Electric, Siemens AG., Sustainable Power Systems, Eaton Corporation Plc, ABB Ltd, Ideal Electric (Hyundai Ideal Electric Co.), Fuji Electric, Voith GmbH, Power Systems & Controls, WEG Electric Corp, Ansaldo Energia, Electromechanical Engineering Associates Inc., Toshiba Corporation, Hyundai Ideal Electric Co., Brush Group, and Mistubishi Electric Corporation.
Types Covered:
• Refurbished Synchronous Condenser
• New Synchronous Condenser
Starting Methods Covered:
• Pony Motor
• Static Frequency Converter
• Other Starting Methods
Cooling Types Covered:
• Water Cooled
• Hydrogen Cooled
• Air Cooled
• Other Cooling Types
Components Covered:
• Cooling System
• Stator
• Exciter
• Rotor With Solid Integral Pole Tips
• Other Components
Reactive Power Rating (MVAr) Covered:
• Less than 50 MVAR
• 50 to 80 MVAR
• 80 to 100 MVAR
• 100 to 150 MVAR
• 150 to 200 MVAR
• Above 200 MVAR
Applications Covered:
• Wind Power
• Hydropower
• Other Applications
End Users Covered:
• Utility Power Generation
• Commercial
• Bio Gas
• Water Treatment
• Automobile
• Oil & Gas
• Industries
• Electrical Utilities
• Marine
• Metal & Mining
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances.
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Futuristic Market Scenario
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Synchronous Condenser Market, By Type
5.1 Introduction
5.2 Refurbished Synchronous Condenser
5.3 New Synchronous Condenser
6 Global Synchronous Condenser Market, By Starting Method
6.1 Introduction
6.2 Pony Motor
6.3 Static Frequency Converter
6.4 Other Starting Methods
6.4.1 Damper Windings
6.4.2 Direct Online
7 Global Synchronous Condenser Market, By Cooling Type
7.1 Introduction
7.2 Water Cooled
7.3 Hydrogen Cooled
7.4 Air Cooled
7.5 Other Cooling Types
8 Global Synchronous Condenser Market, By Component
8.1 Introduction
8.2 Cooling System
8.3 Stator
8.4 Exciter
8.5 Rotor With Solid Integral Pole Tips
8.6 Other Components
9 Global Synchronous Condenser Market, By Reactive Power Rating (MVAr)
9.1 Introduction
9.2 Less than 50 MVAR
9.3 50 to 80 MVAR
9.4 80 to 100 MVAR
9.5 100 to 150 MVAR
9.6 150 to 200 MVAR
9.7 Above 200 MVAR
10 Global Synchronous Condenser Market, By Application
10.1 Introduction
10.2 Wind Power
10.3 Hydropower
10.4 Other Applications
11 Global Synchronous Condenser Market, By End User
11.1 Introduction
11.2 Utility Power Generation
11.3 Commercial
11.4 Bio Gas
11.5 Water Treatment
11.6 Automobile
11.7 Oil & Gas
11.8 Industries
11.9 Electrical Utilities
11.9.1 Solar Farms
11.9.2 Wind Farms
11.9.3 Electrical Grid
11.9.4 High-Voltage Direct Current (HVDC)
11.10 Marine
11.11 Metal & Mining
11.12 Other End Users
12 Global Synchronous Condenser Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 General Electric
14.2 Siemens AG.
14.3 Sustainable Power Systems
14.4 Eaton Corporation Plc
14.5 ABB Ltd
14.6 Ideal Electric (Hyundai Ideal Electric Co.)
14.7 Fuji Electric
14.8 Voith GmbH,
14.9 Power Systems & Controls
14.10 WEG Electric Corp
14.11 Ansaldo Energia
14.12 Electromechanical Engineering Associates Inc.
14.13 Toshiba Corporation
14.14 Hyundai Ideal Electric Co.
14.15 Brush Group
14.16 Mistubishi Electric Corporatioin
List of Tables
1 Global Synchronous Condenser Market Outlook, By Region (2017-2027) (US $MN)
2 Global Synchronous Condenser Market Outlook, By Type (2017-2027) (US $MN)
3 Global Synchronous Condenser Market Outlook, By Refurbished Synchronous Condenser (2017-2027) (US $MN)
4 Global Synchronous Condenser Market Outlook, By New Synchronous Condenser (2017-2027) (US $MN)
5 Global Synchronous Condenser Market Outlook, By Starting Method (2017-2027) (US $MN)
6 Global Synchronous Condenser Market Outlook, By Pony Motor (2017-2027) (US $MN)
7 Global Synchronous Condenser Market Outlook, By Static Frequency Converter (2017-2027) (US $MN)
8 Global Synchronous Condenser Market Outlook, By Other Starting Methods (2017-2027) (US $MN)
9 Global Synchronous Condenser Market Outlook, By Damper Windings (2017-2027) (US $MN)
10 Global Synchronous Condenser Market Outlook, By Direct Online (2017-2027) (US $MN)
11 Global Synchronous Condenser Market Outlook, By Cooling Type (2017-2027) (US $MN)
12 Global Synchronous Condenser Market Outlook, By Water Cooled (2017-2027) (US $MN)
13 Global Synchronous Condenser Market Outlook, By Hydrogen Cooled (2017-2027) (US $MN)
14 Global Synchronous Condenser Market Outlook, By Air Cooled (2017-2027) (US $MN)
15 Global Synchronous Condenser Market Outlook, By Other Cooling Types (2017-2027) (US $MN)
16 Global Synchronous Condenser Market Outlook, By Component (2017-2027) (US $MN)
17 Global Synchronous Condenser Market Outlook, By Cooling System (2017-2027) (US $MN)
18 Global Synchronous Condenser Market Outlook, By Stator (2017-2027) (US $MN)
19 Global Synchronous Condenser Market Outlook, By Exciter (2017-2027) (US $MN)
20 Global Synchronous Condenser Market Outlook, By Rotor With Solid Integral Pole Tips (2017-2027) (US $MN)
21 Global Synchronous Condenser Market Outlook, By Other Components (2017-2027) (US $MN)
22 Global Synchronous Condenser Market Outlook, By Reactive Power Rating (MVAr) (2017-2027) (US $MN)
23 Global Synchronous Condenser Market Outlook, By Less than 50 MVAR (2017-2027) (US $MN)
24 Global Synchronous Condenser Market Outlook, By 50 to 80 MVAR (2017-2027) (US $MN)
25 Global Synchronous Condenser Market Outlook, By 80 to 100 MVAR (2017-2027) (US $MN)
26 Global Synchronous Condenser Market Outlook, By 100 to 150 MVAR (2017-2027) (US $MN)
27 Global Synchronous Condenser Market Outlook, By 150 to 200 MVAR (2017-2027) (US $MN)
28 Global Synchronous Condenser Market Outlook, By Above 200 MVAR (2017-2027) (US $MN)
29 Global Synchronous Condenser Market Outlook, By Application (2017-2027) (US $MN)
30 Global Synchronous Condenser Market Outlook, By Wind Power (2017-2027) (US $MN)
31 Global Synchronous Condenser Market Outlook, By Hydropower (2017-2027) (US $MN)
32 Global Synchronous Condenser Market Outlook, By Other Applications (2017-2027) (US $MN)
33 Global Synchronous Condenser Market Outlook, By End User (2017-2027) (US $MN)
34 Global Synchronous Condenser Market Outlook, By Utility Power Generation (2017-2027) (US $MN)
35 Global Synchronous Condenser Market Outlook, By Commercial (2017-2027) (US $MN)
36 Global Synchronous Condenser Market Outlook, By Bio Gas (2017-2027) (US $MN)
37 Global Synchronous Condenser Market Outlook, By Water Treatment (2017-2027) (US $MN)
38 Global Synchronous Condenser Market Outlook, By Automobile (2017-2027) (US $MN)
39 Global Synchronous Condenser Market Outlook, By Oil & Gas (2017-2027) (US $MN)
40 Global Synchronous Condenser Market Outlook, By Industries (2017-2027) (US $MN)
41 Global Synchronous Condenser Market Outlook, By Electrical Utilities (2017-2027) (US $MN)
42 Global Synchronous Condenser Market Outlook, By Solar Farms (2017-2027) (US $MN)
43 Global Synchronous Condenser Market Outlook, By Wind Farms (2017-2027) (US $MN)
44 Global Synchronous Condenser Market Outlook, By Electrical Grid (2017-2027) (US $MN)
45 Global Synchronous Condenser Market Outlook, By High-Voltage Direct Current (HVDC) (2017-2027) (US $MN)
46 Global Synchronous Condenser Market Outlook, By Marine (2017-2027) (US $MN)
47 Global Synchronous Condenser Market Outlook, By Metal & Mining (2017-2027) (US $MN)
48 Global Synchronous Condenser Market Outlook, By Other End Users (2017-2027) (US $MN)
NOTE: Tables for North America, Europe, Asia Pacific, South America and Middle East & Africa are represented in the same manner above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
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Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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