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冷却タイプ別同期コンデンサ市場（水素冷却、空冷、水冷）、タイプ（新品および修理）、開始方法（静電変換器、ポニーモーター）、エンドユーザー、反応電力定格および地域-2030年までの世界予測
製品コード : MNMEP00116545
調査 : MarketsandMarkets
公開 : 02, November, 2022
調査 : MarketsandMarkets
カテゴリー : Energy and Power
学習の場 : 北米（米国およびカナダ）、ラテンアメリカ（ブラジル、メキシコ、アルゼンチン、その他のラテンアメリカ）、ヨーロッパ（英国、ドイツ、フランス、イタリア、スペイン、ハンガリー、ベルギー、オランダおよびルクセンブルグ、NORDIC（フィンランド、スウェーデン、ノルウェー） 、デンマーク）、アイルランド、スイス、オーストリア、ポーランド、トルコ、ロシア、その他のヨーロッパ）、ポーランド、トルコ、ロシア、その他のヨーロッパ）、アジア太平洋（中国、インド、日本、韓国、シンガポール、インドネシア、マレーシア） 、オーストラリア、ニュージーランド、その他のアジア太平洋地域）、中東およびアフリカ（イスラエル、GCC（サウジアラビア、UAE、バーレーン、クウェート、カタール、オマーン）、北アフリカ、南アフリカ、その他の中東およびアフリカ）。
レポート形式 : PDF
販売価格オプション（消費税込み）
[レポートの説明]
グローバル同期コンデンサ市場は2022年の6億6100万ドルから2030年には8億1100万ドルに成長し、審査期間中に2.6%のCAGRを記録するものと予想される。 送電·配電網のグリッド運営維持のための発展と再生可能エネルギー容量の拡大に対する投資の増加が同期コンデンサ市場の成長を牽引する核心要因だ。
新しい同期コンデンサ:タイプ別では最大のセグメント同期コンデンサ市場になると予想されます。
タイプセグメントは、NewSynchronousCondenserとRefurbedSynchronousCondenserに分類されます。 新しい同期コンデンサは、水素、空気、水で冷却できる2極または4極（2極対）で構成されています。 世界的にHVDCネットワークが拡大するにつれ、カナダ、ブラジル、イタリアなどの国々は伝送システムの安定性と強度を安定化し改善するために新しい同期コンデンサーを配置した。 また、電圧変動を制御し、反応性電源をサポートするためにも導入されています。
冷却技術により水素冷却同期凝縮器セグメントが最速セグメントとして浮上すると予想される。
同期コンデンサ市場は水素冷却同期コンデンサ、空気冷却同期コンデンサ、水冷却同期コンデンサに細分化された。 水素冷却同期式凝縮器は冷却特性が優れているため、水素ガスを冷却材として使用する。 低密度、高比熱、高熱伝導性を示す。 水素冷却同期コンデンサは空冷同期コンデンサより熱伝達能力が1.5倍高く、密度が14分の1水準で摩擦損失が少なく冷却速度が速い。 水素冷却同期凝縮器は同じ温度上昇でより高い負荷で作動でき、空冷同期凝縮器より風量損失が少ない。
北米が予想期間中に最も大きな市場規模を占めるものと予想される。
北米市場は、予想期間中に最大の市場になると予想されています。 北米には老朽化した電力インフラがあり、停電のリスクが高まる可能性があります。 したがって、この地域の各国政府はグリッドの信頼性と復元力を向上させ、スマート電気ネットワークを開発するために老朽化したインフラのアップグレードと交換に積極的に注力している。 北米の電力部門は現在、エネルギー効率目標の達成、連邦炭素政策の遵守、グリッド内のさまざまな分散発電源の統合といった課題に直面しています。
プライマリの内訳:
様々な主要産業の参加者、主題分野の専門家、主要市場関係者のC級役員、業界コンサルタントなどを対象に深層面接を実施し、重要な質的·量的情報を入手·検証し、今後の市場展望を評価してきた。 主なインタビューの配信は次のとおりです。
会社のタイプ別: 階層1~65%、階層2~24%、および階層3~11%
指定別:Cレベル-30%、ディレクターレベル-25%、その他-45%
地域別: 北米-33%、ヨーロッパ-27%、南米-20%、アジア太平洋-中央アメリカ-8%
注:その他には、製品エンジニア、製品スペシャリスト、エンジニアリングリーダーが含まれます。
注意:企業の階層は、2017年時点での総収益に基づいて定義されています。 階層1:>10億ドル、階層2:5億ドルから10億ドル、階層3:5億ドル未満
SynchronousCondenser市場は、地域的に幅広い存在感を持ついくつかの主要なプレーヤーによって支配されています。 シンクロナイズドコンデンサー市場の主役は、ABB（スイス）、シーメンス（ドイツ）、GE（米国）、イートン（アイルランド）、ヴォイスグループ（ドイツ）、富士電機（日本）、WEG（ブラジル）だ。
調査対象範囲:
このレポートでは、同期コンデンサ市場、冷却テクノロジー、反応性電力定格、タイプ、開始方法、エンドユーザー、および地域の定義、説明、および予測を行います。 また、市場の詳細な質的·定量的分析も提供する。 このレポートでは、主要な市場の推進要因、制約、機会、および課題について包括的にレビューします。 また、市場のさまざまな重要な側面もカバーしています。 これには、同期コンデンサ市場の競争状況、市場力学、市場推定値、および将来の動向の分析が含まれます。
レポート購入の主なメリット
1.この報告書は、同期コンデンサ市場の主要市場を特定し、対処しており、ケーブル製造業者が需要の増加を検討するのに役立つだろう。
2.このレポートは、システムプロバイダが市場の動向を理解し、ドライバ、制約、機会、および課題に関する洞察を提供するのに役立ちます。
3.このレポートは、主要な参加者が競合他社の戦略をよりよく理解し、より良い戦略的意思決定を行うのに役立ちます。
1 INTRODUCTION 31
1.1 STUDY OBJECTIVES 31
1.2 MARKET DEFINITION 32
1.3 INCLUSIONS AND EXCLUSIONS 32
1.3.1 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY: INCLUSIONS AND EXCLUSIONS 32
1.3.2 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING: INCLUSIONS AND EXCLUSIONS 33
1.3.3 SYNCHRONOUS CONDENSER MARKET, BY END USER: INCLUSIONS AND EXCLUSIONS 33
1.4 MARKET SCOPE 33
1.4.1 SYNCHRONOUS CONDENSER MARKET: SEGMENTATION 33
1.4.2 SYNCHRONOUS CONDENSER MARKET: REGIONAL SCOPE 34
1.5 YEARS CONSIDERED 34
1.6 CURRENCY CONSIDERED 35
1.7 LIMITATIONS 35
1.8 STAKEHOLDERS 35
1.9 SUMMARY OF CHANGES 36
2 RESEARCH METHODOLOGY 37
2.1 RESEARCH DATA 37
FIGURE 1 SYNCHRONOUS CONDENSER MARKET: RESEARCH DESIGN 38
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 39
2.2.1 SECONDARY DATA 40
2.2.1.1 Key data from secondary sources 40
2.2.2 PRIMARY DATA 41
2.2.2.1 Key data from primary sources 41
2.2.2.2 Breakdown of primaries 42
2.3 SCOPE OF STUDY 42
2.4 DEMAND-SIDE ANALYSIS 43
FIGURE 2 PARAMETERS CONSIDERED WHILE ASSESSING DEMAND FOR SYNCHRONOUS CONDENSERS 43
2.4.1 DEMAND-SIDE ANALYSIS: BOTTOM-UP APPROACH 44
FIGURE 3 SYNCHRONOUS CONDENSER MARKET: INDUSTRY AND REGION-/COUNTRY-WISE ANALYSIS 44
2.4.1.1 Demand-side analysis of synchronous condenser market 44
2.4.1.2 Assumptions while calculating demand-side market size 45
2.4.2 SUPPLY-SIDE ANALYSIS 45
FIGURE 4 CALCULATION OF REVENUES OF MAJOR PLAYERS FROM SALES OF SYNCHRONOUS CONDENSERS TO IDENTIFY GLOBAL MARKET SIZE 45
2.4.2.1 Supply-side analysis of synchronous condenser market 46
FIGURE 5 KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF SYNCHRONOUS CONDENSERS 46
2.4.2.2 Assumptions while calculating supply-side market size 46
FIGURE 6 COMPANY REVENUE ANALYSIS, 2021 47
2.4.3 FORECAST 47
3 EXECUTIVE SUMMARY 48
TABLE 1 SYNCHRONOUS CONDENSER MARKET: SNAPSHOT 48
FIGURE 7 NORTH AMERICA DOMINATED SYNCHRONOUS CONDENSER MARKET
IN 2021 49
FIGURE 8 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT TO DOMINATE MARKET, BY COOLING TECHNOLOGY, DURING FORECAST PERIOD 50
FIGURE 9 STATIC FREQUENCY CONVERTER TO BE FASTEST-GROWING SEGMENT OF SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, DURING FORECAST PERIOD 50
FIGURE 10 ABOVE 200 MVAR SEGMENT TO DOMINATE SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, DURING FORECAST PERIOD 51
FIGURE 11 ELECTRICAL UTILITIES SEGMENT TO DOMINATE SYNCHRONOUS CONDENSER MARKET, BY END USER, DURING FORECAST PERIOD 51
FIGURE 12 NEW SYNCHRONOUS CONDENSER SEGMENT TO LEAD MARKET, BY TYPE, DURING FORECAST PERIOD 52
4 PREMIUM INSIGHTS 53
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SYNCHRONOUS CONDENSER MARKET 53
FIGURE 13 RISING INVESTMENTS IN DEVELOPING POWER INFRASTRUCTURES AND INTEGRATION OF RENEWABLE SOURCES INTO GRIDS TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS DURING FORECAST PERIOD 53
4.2 SYNCHRONOUS CONDENSER MARKET, BY REGION 54
FIGURE 14 NORTH AMERICAN SYNCHRONOUS CONDENSER MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 54
4.3 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE AND COUNTRY, 2021 54
FIGURE 15 REFURBISHED SYNCHRONOUS CONDENSER SEGMENT AND US HELD LARGER SHARES OF NORTH AMERICAN SYNCHRONOUS CONDENSER MARKET IN 2021 54
4.4 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING 55
FIGURE 16 ABOVE 200 MVAR SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE
BY 2030 55
4.5 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 55
FIGURE 17 STATIC FREQUENCY CONVERTER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE BY 2030 55
4.6 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY 56
FIGURE 18 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE BY 2030 56
4.7 SYNCHRONOUS CONDENSER MARKET, BY TYPE 56
FIGURE 19 NEW SYNCHRONOUS CONDENSER SEGMENT TO DOMINATE MARKET
BY 2030 56
5 MARKET OVERVIEW 57
5.1 INTRODUCTION 57
5.2 MARKET DYNAMICS 57
FIGURE 20 SYNCHRONOUS CONDENSER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 57
5.2.1 DRIVERS 58
5.2.1.1 Growing use of renewable and sustainable energy sources and increasing investments in capacity additions 58
FIGURE 21 RENEWABLE ELECTRICITY CAPACITY ADDITION, 2014–2021 59
FIGURE 22 INSTALLED RENEWABLE ELECTRICITY GENERATING CAPACITY, 2020–2050 59
5.2.1.2 Growing requirement for power factor correction (PFC) and increasing investments in developing transmission and distribution (T&D) infrastructures 59
FIGURE 23 INVESTMENTS IN ELECTRICITY NETWORKS, BY REGION (2015–2021) 60
TABLE 2 TRANSMISSION AND DISTRIBUTION (T&D) INFRASTRUCTURE
EXPANSION PLANS 61
5.2.2 RESTRAINTS 62
5.2.2.1 High manufacturing and maintenance costs 62
5.2.3 OPPORTUNITIES 62
5.2.3.1 Conversion of synchronous generators into synchronous condensers 62
5.2.3.2 Rising adoption of high-voltage direct current (HVDC) systems 62
5.2.4 CHALLENGES 63
5.2.4.1 Availability of low-cost substitutes 63
TABLE 3 COMPARISON BETWEEN SYNCHRONOUS CONDENSER AND ITS SUBSTITUTES 63
5.2.4.2 Shortage of components/parts used in manufacturing of synchronous condensers due to COVID-19 64
TABLE 4 CHANGE IN PRICES OF COMMODITIES, 2019–2020 64
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 64
5.3.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR SYNCHRONOUS CONDENSER MANUFACTURERS 64
FIGURE 24 REVENUE SHIFT FOR SYNCHRONOUS CONDENSER MANUFACTURERS 65
5.4 MARKET MAP 66
FIGURE 25 SYNCHRONOUS CONDENSER MARKET: MARKET MAP 66
TABLE 5 SYNCHRONOUS CONDENSER MARKET: ROLE IN ECOSYSTEM 66
5.5 VALUE CHAIN ANALYSIS 68
FIGURE 26 SYNCHRONOUS CONDENSER MARKET: VALUE CHAIN ANALYSIS 68
5.5.1 RAW MATERIAL PROVIDERS/SUPPLIERS 68
5.5.2 COMPONENT MANUFACTURERS 69
5.5.3 SYNCHRONOUS CONDENSER MANUFACTURERS/ASSEMBLERS/
SERVICE PROVIDERS 69
5.5.4 DISTRIBUTORS/END USERS 69
5.5.5 POST-SALES SERVICE PROVIDERS 69
5.6 CODES AND REGULATIONS RELATED TO SYNCHRONOUS CONDENSER MARKET 69
TABLE 6 SYNCHRONOUS CONDENSER MARKET: CODES AND REGULATIONS 69
5.7 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 71
TABLE 7 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 71
TABLE 8 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 73
TABLE 9 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 74
TABLE 10 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 76
TABLE 11 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 76
5.8 INNOVATIONS AND PATENT REGISTRATIONS 77
TABLE 12 SYNCHRONOUS CONDENSER MARKET: INNOVATIONS AND PATENT REGISTRATIONS, FEBRUARY 2016–NOVEMBER 2021 77
5.9 PORTER’S FIVE FORCES ANALYSIS 82
FIGURE 27 PORTER’S FIVE FORCES ANALYSIS 82
TABLE 13 SYNCHRONOUS CONDENSER MARKET: PORTER’S FIVE FORCES ANALYSIS 82
5.9.1 THREAT OF SUBSTITUTES 83
5.9.2 BARGAINING POWER OF SUPPLIERS 83
5.9.3 BARGAINING POWER OF BUYERS 83
5.9.4 THREAT OF NEW ENTRANTS 83
5.9.5 INTENSITY OF COMPETITIVE RIVALRY 84
5.10 CASE STUDY ANALYSIS 84
5.10.1 USE OF GE’S SYNCHRONOUS CONDENSERS IN NORTHWEST VERMONT RELIABILITY PROJECT 84
5.10.1.1 Problem statement 84
5.10.1.2 Solution 84
5.10.2 REFURBISHMENT OF SYNCHRONOUS GENERATORS TO SYNCHRONOUS CONDENSERS 85
5.10.2.1 Problem statement 85
5.10.2.2 Solution 85
5.10.3 USE OF TERNA’S SYNCHRONOUS CONDENSERS TO STABILIZE GRID IN SARDINIA REGION 85
5.10.3.1 Problem statement 85
5.10.3.2 Solution 85
5.11 PRICING ANALYSIS 86
TABLE 14 AVERAGE SELLING PRICE OF SYNCHRONOUS CONDENSERS 86
5.12 TECHNOLOGY ANALYSIS 86
5.12.1 HIGH-TEMPERATURE SUPERCONDUCTOR (HTS) DYNAMIC SYNCHRONOUS CONDENSER 86
5.12.2 MODE OF OPERATION (APPLICATION) 86
5.12.2.1 Standalone synchronous condenser 87
5.12.2.2 Power plants with synchronous condensing capacity 87
5.12.2.3 Retrofitting of existing and decommissioned power plants 87
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 88
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 88
FIGURE 28 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER 88
TABLE 15 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER (%) 88
5.13.2 BUYING CRITERIA 88
FIGURE 29 KEY BUYING CRITERIA FOR END USERS 88
TABLE 16 KEY BUYING CRITERIA, BY END USER 89
5.14 KEY CONFERENCES AND EVENTS, 2022–2024 89
TABLE 17 SYNCHRONOUS CONDENSER MARKET: DETAILED LIST OF CONFERENCES AND EVENTS 89
6 SYNCHRONOUS CONDENSER MARKET, BY TYPE 91
6.1 INTRODUCTION 92
FIGURE 30 NEW SYNCHRONOUS CONDENSER SEGMENT ACCOUNTED FOR LARGER MARKET SHARE IN 2021 92
TABLE 18 SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2018–2021 (USD MILLION) 92
TABLE 19 SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2022–2030 (USD MILLION) 92
6.2 NEW SYNCHRONOUS CONDENSER 93
6.2.1 EXPANSION OF HVDC NETWORKS TO INCREASE INSTALLATION OF NEW SYNCHRONOUS CONDENSERS 93
TABLE 20 NEW SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 93
TABLE 21 NEW SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 93
6.3 REFURBISHED SYNCHRONOUS CONDENSER 94
6.3.1 LOW COST OF REFURBISHED SYNCHRONOUS CONDENSERS TO
FUEL DEMAND 94
TABLE 22 REFURBISHED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 94
TABLE 23 REFURBISHED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 94
7 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY 95
7.1 INTRODUCTION 96
FIGURE 31 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2021 96
TABLE 24 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY,
2018–2021 (USD MILLION) 96
TABLE 25 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY,
2022–2030 (USD MILLION) 97
7.2 HYDROGEN-COOLED SYNCHRONOUS CONDENSER 97
7.2.1 LOW WINDAGE LOSS AND HIGH THERMAL CONDUCTIVITY FEATURES OF HYDROGEN-COOLED SYNCHRONOUS CONDENSERS TO FUEL DEMAND 97
TABLE 26 HYDROGEN-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 98
TABLE 27 HYDROGEN-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 98
7.3 AIR-COOLED SYNCHRONOUS CONDENSER 98
7.3.1 EXCELLENT COOLING FEATURE OF AIR-COOLED SYNCHRONOUS CONDENSERS TO PROPEL DEMAND 98
TABLE 28 AIR-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 99
TABLE 29 AIR-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 99
7.4 WATER-COOLED SYNCHRONOUS CONDENSER 100
7.4.1 HIGHER EFFICIENCY OF WATER-COOLED SYNCHRONOUS CONDENSERS COMPARED TO HYDROGEN-COOLED CONDENSERS TO FUEL DEMAND 100
TABLE 30 WATER-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 100
TABLE 31 WATER-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 100
8 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 101
8.1 INTRODUCTION 102
FIGURE 32 STATIC FREQUENCY CONVERTER SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2021 102
TABLE 32 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD,
2018–2021 (USD MILLION) 102
TABLE 33 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD,
2022–2030 (USD MILLION) 103
8.2 STATIC FREQUENCY CONVERTER 103
8.2.1 LOW INSTALLATION COST OF STATIC FREQUENCY CONVERTER TO
FUEL DEMAND 103
TABLE 34 STATIC FREQUENCY CONVERTER: SYNCHRONOUS CONDENSER MARKET,
BY REGION, 2018–2021 (USD MILLION) 103
TABLE 35 STATIC FREQUENCY CONVERTER: SYNCHRONOUS CONDENSER MARKET,
BY REGION, 2022–2030 (USD MILLION) 104
8.3 PONY MOTOR 104
8.3.1 LOW COST AND ABILITY TO START LOW-CAPACITY SYNCHRONOUS CONDENSERS (BELOW 50 MVAR) TO FUEL DEMAND FOR PONY MOTORS 104
TABLE 36 PONY MOTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 104
TABLE 37 PONY MOTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 105
8.4 OTHERS 105
TABLE 38 OTHERS: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 105
TABLE 39 OTHERS: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 106
9 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING 107
9.1 INTRODUCTION 108
FIGURE 33 ABOVE 200 MVAR SEGMENT ACCOUNTED FOR LARGEST MARKET
SHARE IN 2021 108
TABLE 40 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING,
2018–2021 (USD MILLION) 108
TABLE 41 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING,
2022–2030 (USD MILLION) 109
9.2 UP TO 100 MVAR 109
9.2.1 RISING USE OF AIR- AND WATER-COOLED SYNCHRONOUS CONDENSERS
TO FUEL MARKET GROWTH 109
TABLE 42 UP TO 100 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 110
TABLE 43 UP TO 100 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 110
9.3 101–200 MVAR 110
9.3.1 GROWING NEED TO ENSURE STABILITY OF TRANSMISSION GRIDS TO FUEL DEMAND FOR 101–200 MVAR SYNCHRONOUS CONDENSERS 110
TABLE 44 101–200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 111
TABLE 45 101–200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 111
9.4 ABOVE 200 MVAR 112
9.4.1 RISING ADOPTION OF LARGE-SIZED HYDROGEN-COOLED SYNCHRONOUS CONDENSERS TO DRIVE MARKET GROWTH 112
TABLE 46 ABOVE 200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 112
TABLE 47 ABOVE 200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 112
10 SYNCHRONOUS CONDENSER MARKET, BY END USER 114
10.1 INTRODUCTION 115
FIGURE 34 ELECTRICAL UTILITIES SEGMENT ACCOUNTED FOR LARGER MARKET
SHARE IN 2021 115
TABLE 48 SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 115
TABLE 49 SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 116
10.2 ELECTRICAL UTILITIES 116
10.2.1 RISING NEED TO IMPROVE GRID STABILITY TO BOOST MARKET GROWTH 116
TABLE 50 ELECTRICAL UTILITIES: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 117
TABLE 51 ELECTRICAL UTILITIES: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 117
10.3 INDUSTRIAL SECTOR 117
10.3.1 INCREASING NEED TO PERFORM POWER FACTOR CORRECTION OF INDUSTRIAL LOADS TO FUEL DEMAND FOR SYNCHRONOUS CONDENSERS 117
TABLE 52 INDUSTRIAL SECTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 118
TABLE 53 INDUSTRIAL SECTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 118
11 SYNCHRONOUS CONDENSER MARKET, BY REGION 119
11.1 INTRODUCTION 120
FIGURE 35 SYNCHRONOUS CONDENSER MARKET: REGIONAL SNAPSHOT 120
FIGURE 36 REGIONAL ANALYSIS OF SYNCHRONOUS CONDENSER MARKET, 2021 120
TABLE 54 SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 121
TABLE 55 SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 121
TABLE 56 SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (UNITS) 121
TABLE 57 SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (UNITS) 122
11.2 NORTH AMERICA 122
FIGURE 37 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 123
11.2.1 BY TYPE 123
TABLE 58 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 123
TABLE 59 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 124
11.2.2 BY COOLING TECHNOLOGY 124
TABLE 60 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 124
TABLE 61 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 124
11.2.3 BY STARTING METHOD 125
TABLE 62 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 125
TABLE 63 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 125
11.2.4 BY REACTIVE POWER RATING 125
TABLE 64 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 125
TABLE 65 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 126
11.2.5 BY END USER 126
TABLE 66 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 126
TABLE 67 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 126
11.2.6 BY COUNTRY 127
TABLE 68 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 127
TABLE 69 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 127
11.2.6.1 US 127
11.2.6.1.1 Government-led initiatives to upgrade legacy power infrastructures and phase out coal-based power plants to fuel demand for synchronous condensers 127
FIGURE 38 PLANNED RETIREMENTS OF UTILITY-SCALE ELECTRICITY-GENERATING CAPACITIES IN US, 2022–2030 128
TABLE 70 US: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 128
TABLE 71 US: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 129
11.2.6.2 Canada 129
11.2.6.2.1 Rising investments in renewable energy generation to propel market growth 129
TABLE 72 CANADA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 130
TABLE 73 CANADA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 130
11.3 EUROPE 130
FIGURE 39 EUROPE: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 131
11.3.1 BY TYPE 131
TABLE 74 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 131
TABLE 75 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 132
11.3.2 BY COOLING TECHNOLOGY 132
TABLE 76 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 132
TABLE 77 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 132
11.3.3 BY STARTING METHOD 133
TABLE 78 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 133
TABLE 79 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 133
11.3.4 BY REACTIVE POWER RATING 133
TABLE 80 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 133
TABLE 81 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 134
11.3.5 BY END USER 134
TABLE 82 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 134
TABLE 83 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 134
11.3.6 BY COUNTRY 135
TABLE 84 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2018–2021 (USD MILLION) 135
TABLE 85 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2022–2030 (USD MILLION) 135
11.3.6.1 Denmark 135
11.3.6.1.1 Growing need to stabilize gird transmission to fuel demand for synchronous condensers 135
TABLE 86 DENMARK: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 136
TABLE 87 DENMARK: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 136
11.3.6.2 Italy 136
11.3.6.2.1 Rising integration of renewable sources into grids to propel demand for synchronous condensers 136
TABLE 88 ITALY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 137
TABLE 89 ITALY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 137
11.3.6.3 Germany 137
11.3.6.3.1 Government-led initiatives to replace fossil fuels with renewable sources in power generation mix to drive
market growth 137
TABLE 90 GERMANY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 137
TABLE 91 GERMANY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 138
11.3.6.4 Norway 138
11.3.6.4.1 Rising investments in expansion of HVDC networks to fuel demand for synchronous condensers 138
TABLE 92 NORWAY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 138
TABLE 93 NORWAY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 139
11.3.6.5 Rest of Europe 139
TABLE 94 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 139
TABLE 95 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 139
11.4 SOUTH AMERICA 140
11.4.1 BY TYPE 140
TABLE 96 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 140
TABLE 97 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 140
11.4.2 BY COOLING TECHNOLOGY 141
TABLE 98 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 141
TABLE 99 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 141
11.4.3 BY STARTING METHOD 141
TABLE 100 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 141
TABLE 101 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 142
11.4.4 BY REACTIVE POWER RATING 142
TABLE 102 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 142
TABLE 103 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 142
11.4.5 BY END USER 143
TABLE 104 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 143
TABLE 105 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 143
11.4.6 BY COUNTRY 143
TABLE 106 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 143
TABLE 107 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 144
11.4.6.1 Brazil 144
11.4.6.1.1 Government-led initiatives to develop power infrastructures to fuel demand for synchronous condensers 144
TABLE 108 BRAZIL: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 144
TABLE 109 BRAZIL: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 145
11.4.6.2 Rest of South America 145
TABLE 110 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 145
TABLE 111 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 145
11.5 ASIA PACIFIC 146
FIGURE 40 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 147
11.5.1 BY TYPE 147
TABLE 112 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 147
TABLE 113 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 148
11.5.2 BY COOLING TECHNOLOGY 148
TABLE 114 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 148
TABLE 115 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 148
11.5.3 BY STARTING METHOD 149
TABLE 116 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 149
TABLE 117 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 149
11.5.4 BY REACTIVE POWER RATING 149
TABLE 118 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 149
TABLE 119 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 150
11.5.5 BY END USER 150
TABLE 120 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 150
TABLE 121 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 150
11.5.6 BY COUNTRY 151
TABLE 122 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2018–2021 (USD MILLION) 151
TABLE 123 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2022–2030 (USD MILLION) 151
11.5.6.1 China 151
11.5.6.1.1 Growing need to improve power reliability to fuel demand for synchronous condensers 151
TABLE 124 CHINA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 152
TABLE 125 CHINA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 152
11.5.6.2 Australia 152
11.5.6.2.1 Rising deployment of synchronous condensers in power infrastructures to drive market growth 152
TABLE 126 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 153
TABLE 127 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 153
11.5.6.3 Rest of Asia Pacific 153
TABLE 128 REST OF ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 153
TABLE 129 REST OF ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 154
11.6 MIDDLE EAST & AFRICA 154
11.6.1 BY TYPE 155
TABLE 130 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2018–2021 (USD MILLION) 155
TABLE 131 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2022–2030 (USD MILLION) 155
11.6.2 BY COOLING TECHNOLOGY 155
TABLE 132 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 155
TABLE 133 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 156
11.6.3 BY STARTING METHOD 156
TABLE 134 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY STARTING METHOD, 2018–2021 (USD MILLION) 156
TABLE 135 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY STARTING METHOD, 2022–2030 (USD MILLION) 156
11.6.4 BY REACTIVE POWER RATING 157
TABLE 136 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 157
TABLE 137 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 157
11.6.5 BY END USER 157
TABLE 138 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 157
TABLE 139 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 158
11.6.6 BY COUNTRY 158
TABLE 140 REST OF THE MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 158
TABLE 141 REST OF THE MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 158
11.6.6.1 Kenya 159
11.6.6.1.1 Increasing number of power generation projects to drive market growth 159
TABLE 142 KENYA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 159
TABLE 143 KENYA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 159
11.6.6.2 Rest of Middle East & Africa 160
TABLE 144 REST OF MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 160
TABLE 145 REST OF MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 160
12 COMPETITIVE LANDSCAPE 161
12.1 KEY PLAYER STRATEGIES 161
TABLE 146 OVERVIEW OF KEY STRATEGIES ADOPTED BY TOP MARKET PLAYERS, JANUARY 2017–JUNE 2022 161
12.2 MARKET SHARE ANALYSIS 163
TABLE 147 SYNCHRONOUS CONDENSER MARKET: DEGREE OF COMPETITION 163
FIGURE 41 SYNCHRONOUS CONDENSER MARKET SHARE ANALYSIS, 2021 164
12.3 REVENUE SHARE ANALYSIS OF TOP 5 MARKET PLAYERS 165
FIGURE 42 TOP 5 PLAYERS DOMINATED SYNCHRONOUS CONDENSER MARKET FROM 2017 TO 2021 165
12.4 COMPANY EVALUATION QUADRANT 166
12.4.1 STARS 166
12.4.2 EMERGING LEADERS 166
12.4.3 PERVASIVE PLAYERS 166
12.4.4 PARTICIPANTS 166
FIGURE 43 COMPETITIVE LEADERSHIP MAPPING: SYNCHRONOUS CONDENSER MARKET, 2021 167
12.5 SYNCHRONOUS CONDENSER MARKET: COMPANY FOOTPRINT 168
TABLE 148 TYPE: COMPANY FOOTPRINT 168
TABLE 149 REACTIVE POWER RATING: COMPANY FOOTPRINT 169
TABLE 150 REGION: COMPANY FOOTPRINT 170
TABLE 151 OVERALL COMPANY FOOTPRINT 171
12.6 COMPETITIVE SCENARIO 172
TABLE 152 SYNCHRONOUS CONDENSER MARKET: PRODUCT LAUNCHES,
JANUARY 2017–SEPTEMBER 2021 172
TABLE 153 SYNCHRONOUS CONDENSER MARKET: DEALS, JANUARY 2017–
SEPTEMBER 2021 172
13 COMPANY PROFILES 174
13.1 KEY PLAYERS 174
(Business overview, Products/Solutions/Services offered, Recent Developments, MNM view)*
13.1.1 ABB 174
TABLE 154 ABB: BUSINESS OVERVIEW 174
FIGURE 44 ABB: COMPANY SNAPSHOT, 2021 175
TABLE 155 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED 175
TABLE 156 ABB: PRODUCT LAUNCHES 176
TABLE 157 ABB: DEALS 176
TABLE 158 ABB: OTHERS 177
13.1.2 SIEMENS ENERGY 179
TABLE 159 SIEMENS ENERGY: BUSINESS OVERVIEW 179
FIGURE 45 SIEMENS ENERGY: COMPANY SNAPSHOT, 2021 180
TABLE 160 SIEMENS ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 180
TABLE 161 SIEMENS ENERGY: OTHERS 181
13.1.3 GE 183
TABLE 162 GE: BUSINESS OVERVIEW 183
FIGURE 46 GE: COMPANY SNAPSHOT, 2021 184
TABLE 163 GE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 184
TABLE 164 GE: OTHERS 185
13.1.4 WEG 187
TABLE 165 WEG: BUSINESS OVERVIEW 187
FIGURE 47 WEG: COMPANY SNAPSHOT, 2021 188
TABLE 166 WEG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 188
TABLE 167 WEG: DEALS 189
TABLE 168 WEG: OTHERS 189
13.1.5 EATON 191
TABLE 169 EATON: BUSINESS OVERVIEW 191
FIGURE 48 EATON: COMPANY SNAPSHOT, 2021 192
TABLE 170 EATON: PRODUCTS/SOLUTIONS/SERVICES OFFERED 192
13.1.6 ANDRITZ GROUP 194
TABLE 171 ANDRITZ GROUP: BUSINESS OVERVIEW 194
FIGURE 49 ANDRITZ GROUP: COMPANY SNAPSHOT, 2021 195
TABLE 172 ANDRITZ GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 196
TABLE 173 ANDRITZ GROUP: OTHERS 196
13.1.7 ANSALDO ENERGIA 198
TABLE 174 ANSALDO ENERGIA: BUSINESS OVERVIEW 198
FIGURE 50 ANSALDO ENERGIA: COMPANY SNAPSHOT, 2021 199
TABLE 175 ANSALDO ENERGIA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 200
TABLE 176 ANSALDO ENERGIA: OTHERS 201
13.1.8 MITSUBISHI HEAVY INDUSTRIES 202
TABLE 177 MITSUBISHI HEAVY INDUSTRIES: BUSINESS OVERVIEW 202
FIGURE 51 MITSUBISHI HEAVY INDUSTRIES: COMPANY SNAPSHOT, 2020 203
TABLE 178 MITSUBISHI HEAVY INDUSTRIES: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 203
TABLE 179 MITSUBISHI HEAVY INDUSTRIES: OTHERS 204
13.1.9 VOITH GROUP 206
TABLE 180 VOITH GROUP: BUSINESS OVERVIEW 206
FIGURE 52 VOITH GROUP: COMPANY SNAPSHOT, 2021 207
TABLE 181 VOITH GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 207
TABLE 182 VOITH GROUP: OTHERS 208
13.1.10 FUJI ELECTRIC 210
TABLE 183 FUJI ELECTRIC: BUSINESS OVERVIEW 210
FIGURE 53 FUJI ELECTRIC: COMPANY SNAPSHOT, 2020 211
TABLE 184 FUJI ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 212
13.1.11 BHARAT HEAVY ELECTRICALS LIMITED (BHEL) 213
TABLE 185 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): BUSINESS OVERVIEW 213
FIGURE 54 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): COMPANY SNAPSHOT, 2021 214
TABLE 186 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): PRODUCTS/SOLUTIONS/ SERVICES OFFERED 214
13.1.12 IDEAL ELECTRIC POWER (HYUNDAI IDEAL ELECTRIC CO.) 215
TABLE 187 IDEAL ELECTRIC POWER: BUSINESS OVERVIEW 215
TABLE 188 IDEAL ELECTRIC POWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 215
13.1.13 POWER SYSTEMS & CONTROLS 216
TABLE 189 POWER SYSTEMS & CONTROLS (PS&C): BUSINESS OVERVIEW 216
TABLE 190 POWER SYSTEMS & CONTROLS (PS&C): PRODUCTS/SOLUTIONS/
SERVICES OFFERED 216
13.1.14 BRUSH GROUP 217
TABLE 191 BRUSH GROUP: BUSINESS OVERVIEW 217
TABLE 192 BRUSH GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 217
13.1.15 ELECTROMECHANICAL ENGINEERING ASSOCIATES 218
TABLE 193 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): BUSINESS OVERVIEW 218
TABLE 194 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): PRODUCTS/SOLUTIONS/SERVICES OFFERED 218
TABLE 195 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): OTHERS 219
13.1.16 ANHUI ZHONGDIAN (ZDDQ) ELECTRIC CO., LTD. 220
TABLE 196 ANHUI ZHONGDIAN ELECTRIC CO., LTD.: BUSINESS OVERVIEW 220
TABLE 197 ANHUI ZHONGDIAN ELECTRIC CO., LTD.: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 220
13.1.17 SHANGHAI ELECTRIC 221
TABLE 198 SHANGHAI ELECTRIC: BUSINESS OVERVIEW 221
TABLE 199 SHANGHAI ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 221
13.1.18 INGETEAM 222
TABLE 200 INGETEAM: BUSINESS OVERVIEW 222
TABLE 201 INGETEAM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 222
13.1.19 DOOSAN ŠKODA POWER 223
TABLE 202 DOOSAN ŠKODA POWER: BUSINESS OVERVIEW 223
TABLE 203 DOOSAN ŠKODA POWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 223
13.1.20 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD. 224
TABLE 204 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD.:
BUSINESS OVERVIEW 224
TABLE 205 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 224
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
14 APPENDIX 225
14.1 INSIGHTS FROM INDUSTRY EXPERTS 225
14.2 DISCUSSION GUIDE 226
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 231
14.4 CUSTOMIZATION OPTIONS 233
14.5 RELATED REPORTS 233
14.6 AUTHOR DETAILS 234
1.1 STUDY OBJECTIVES 31
1.2 MARKET DEFINITION 32
1.3 INCLUSIONS AND EXCLUSIONS 32
1.3.1 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY: INCLUSIONS AND EXCLUSIONS 32
1.3.2 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING: INCLUSIONS AND EXCLUSIONS 33
1.3.3 SYNCHRONOUS CONDENSER MARKET, BY END USER: INCLUSIONS AND EXCLUSIONS 33
1.4 MARKET SCOPE 33
1.4.1 SYNCHRONOUS CONDENSER MARKET: SEGMENTATION 33
1.4.2 SYNCHRONOUS CONDENSER MARKET: REGIONAL SCOPE 34
1.5 YEARS CONSIDERED 34
1.6 CURRENCY CONSIDERED 35
1.7 LIMITATIONS 35
1.8 STAKEHOLDERS 35
1.9 SUMMARY OF CHANGES 36
2 RESEARCH METHODOLOGY 37
2.1 RESEARCH DATA 37
FIGURE 1 SYNCHRONOUS CONDENSER MARKET: RESEARCH DESIGN 38
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 39
2.2.1 SECONDARY DATA 40
2.2.1.1 Key data from secondary sources 40
2.2.2 PRIMARY DATA 41
2.2.2.1 Key data from primary sources 41
2.2.2.2 Breakdown of primaries 42
2.3 SCOPE OF STUDY 42
2.4 DEMAND-SIDE ANALYSIS 43
FIGURE 2 PARAMETERS CONSIDERED WHILE ASSESSING DEMAND FOR SYNCHRONOUS CONDENSERS 43
2.4.1 DEMAND-SIDE ANALYSIS: BOTTOM-UP APPROACH 44
FIGURE 3 SYNCHRONOUS CONDENSER MARKET: INDUSTRY AND REGION-/COUNTRY-WISE ANALYSIS 44
2.4.1.1 Demand-side analysis of synchronous condenser market 44
2.4.1.2 Assumptions while calculating demand-side market size 45
2.4.2 SUPPLY-SIDE ANALYSIS 45
FIGURE 4 CALCULATION OF REVENUES OF MAJOR PLAYERS FROM SALES OF SYNCHRONOUS CONDENSERS TO IDENTIFY GLOBAL MARKET SIZE 45
2.4.2.1 Supply-side analysis of synchronous condenser market 46
FIGURE 5 KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF SYNCHRONOUS CONDENSERS 46
2.4.2.2 Assumptions while calculating supply-side market size 46
FIGURE 6 COMPANY REVENUE ANALYSIS, 2021 47
2.4.3 FORECAST 47
3 EXECUTIVE SUMMARY 48
TABLE 1 SYNCHRONOUS CONDENSER MARKET: SNAPSHOT 48
FIGURE 7 NORTH AMERICA DOMINATED SYNCHRONOUS CONDENSER MARKET
IN 2021 49
FIGURE 8 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT TO DOMINATE MARKET, BY COOLING TECHNOLOGY, DURING FORECAST PERIOD 50
FIGURE 9 STATIC FREQUENCY CONVERTER TO BE FASTEST-GROWING SEGMENT OF SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, DURING FORECAST PERIOD 50
FIGURE 10 ABOVE 200 MVAR SEGMENT TO DOMINATE SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, DURING FORECAST PERIOD 51
FIGURE 11 ELECTRICAL UTILITIES SEGMENT TO DOMINATE SYNCHRONOUS CONDENSER MARKET, BY END USER, DURING FORECAST PERIOD 51
FIGURE 12 NEW SYNCHRONOUS CONDENSER SEGMENT TO LEAD MARKET, BY TYPE, DURING FORECAST PERIOD 52
4 PREMIUM INSIGHTS 53
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SYNCHRONOUS CONDENSER MARKET 53
FIGURE 13 RISING INVESTMENTS IN DEVELOPING POWER INFRASTRUCTURES AND INTEGRATION OF RENEWABLE SOURCES INTO GRIDS TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS DURING FORECAST PERIOD 53
4.2 SYNCHRONOUS CONDENSER MARKET, BY REGION 54
FIGURE 14 NORTH AMERICAN SYNCHRONOUS CONDENSER MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 54
4.3 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE AND COUNTRY, 2021 54
FIGURE 15 REFURBISHED SYNCHRONOUS CONDENSER SEGMENT AND US HELD LARGER SHARES OF NORTH AMERICAN SYNCHRONOUS CONDENSER MARKET IN 2021 54
4.4 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING 55
FIGURE 16 ABOVE 200 MVAR SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE
BY 2030 55
4.5 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 55
FIGURE 17 STATIC FREQUENCY CONVERTER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE BY 2030 55
4.6 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY 56
FIGURE 18 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE BY 2030 56
4.7 SYNCHRONOUS CONDENSER MARKET, BY TYPE 56
FIGURE 19 NEW SYNCHRONOUS CONDENSER SEGMENT TO DOMINATE MARKET
BY 2030 56
5 MARKET OVERVIEW 57
5.1 INTRODUCTION 57
5.2 MARKET DYNAMICS 57
FIGURE 20 SYNCHRONOUS CONDENSER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 57
5.2.1 DRIVERS 58
5.2.1.1 Growing use of renewable and sustainable energy sources and increasing investments in capacity additions 58
FIGURE 21 RENEWABLE ELECTRICITY CAPACITY ADDITION, 2014–2021 59
FIGURE 22 INSTALLED RENEWABLE ELECTRICITY GENERATING CAPACITY, 2020–2050 59
5.2.1.2 Growing requirement for power factor correction (PFC) and increasing investments in developing transmission and distribution (T&D) infrastructures 59
FIGURE 23 INVESTMENTS IN ELECTRICITY NETWORKS, BY REGION (2015–2021) 60
TABLE 2 TRANSMISSION AND DISTRIBUTION (T&D) INFRASTRUCTURE
EXPANSION PLANS 61
5.2.2 RESTRAINTS 62
5.2.2.1 High manufacturing and maintenance costs 62
5.2.3 OPPORTUNITIES 62
5.2.3.1 Conversion of synchronous generators into synchronous condensers 62
5.2.3.2 Rising adoption of high-voltage direct current (HVDC) systems 62
5.2.4 CHALLENGES 63
5.2.4.1 Availability of low-cost substitutes 63
TABLE 3 COMPARISON BETWEEN SYNCHRONOUS CONDENSER AND ITS SUBSTITUTES 63
5.2.4.2 Shortage of components/parts used in manufacturing of synchronous condensers due to COVID-19 64
TABLE 4 CHANGE IN PRICES OF COMMODITIES, 2019–2020 64
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 64
5.3.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR SYNCHRONOUS CONDENSER MANUFACTURERS 64
FIGURE 24 REVENUE SHIFT FOR SYNCHRONOUS CONDENSER MANUFACTURERS 65
5.4 MARKET MAP 66
FIGURE 25 SYNCHRONOUS CONDENSER MARKET: MARKET MAP 66
TABLE 5 SYNCHRONOUS CONDENSER MARKET: ROLE IN ECOSYSTEM 66
5.5 VALUE CHAIN ANALYSIS 68
FIGURE 26 SYNCHRONOUS CONDENSER MARKET: VALUE CHAIN ANALYSIS 68
5.5.1 RAW MATERIAL PROVIDERS/SUPPLIERS 68
5.5.2 COMPONENT MANUFACTURERS 69
5.5.3 SYNCHRONOUS CONDENSER MANUFACTURERS/ASSEMBLERS/
SERVICE PROVIDERS 69
5.5.4 DISTRIBUTORS/END USERS 69
5.5.5 POST-SALES SERVICE PROVIDERS 69
5.6 CODES AND REGULATIONS RELATED TO SYNCHRONOUS CONDENSER MARKET 69
TABLE 6 SYNCHRONOUS CONDENSER MARKET: CODES AND REGULATIONS 69
5.7 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 71
TABLE 7 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 71
TABLE 8 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 73
TABLE 9 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 74
TABLE 10 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 76
TABLE 11 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 76
5.8 INNOVATIONS AND PATENT REGISTRATIONS 77
TABLE 12 SYNCHRONOUS CONDENSER MARKET: INNOVATIONS AND PATENT REGISTRATIONS, FEBRUARY 2016–NOVEMBER 2021 77
5.9 PORTER’S FIVE FORCES ANALYSIS 82
FIGURE 27 PORTER’S FIVE FORCES ANALYSIS 82
TABLE 13 SYNCHRONOUS CONDENSER MARKET: PORTER’S FIVE FORCES ANALYSIS 82
5.9.1 THREAT OF SUBSTITUTES 83
5.9.2 BARGAINING POWER OF SUPPLIERS 83
5.9.3 BARGAINING POWER OF BUYERS 83
5.9.4 THREAT OF NEW ENTRANTS 83
5.9.5 INTENSITY OF COMPETITIVE RIVALRY 84
5.10 CASE STUDY ANALYSIS 84
5.10.1 USE OF GE’S SYNCHRONOUS CONDENSERS IN NORTHWEST VERMONT RELIABILITY PROJECT 84
5.10.1.1 Problem statement 84
5.10.1.2 Solution 84
5.10.2 REFURBISHMENT OF SYNCHRONOUS GENERATORS TO SYNCHRONOUS CONDENSERS 85
5.10.2.1 Problem statement 85
5.10.2.2 Solution 85
5.10.3 USE OF TERNA’S SYNCHRONOUS CONDENSERS TO STABILIZE GRID IN SARDINIA REGION 85
5.10.3.1 Problem statement 85
5.10.3.2 Solution 85
5.11 PRICING ANALYSIS 86
TABLE 14 AVERAGE SELLING PRICE OF SYNCHRONOUS CONDENSERS 86
5.12 TECHNOLOGY ANALYSIS 86
5.12.1 HIGH-TEMPERATURE SUPERCONDUCTOR (HTS) DYNAMIC SYNCHRONOUS CONDENSER 86
5.12.2 MODE OF OPERATION (APPLICATION) 86
5.12.2.1 Standalone synchronous condenser 87
5.12.2.2 Power plants with synchronous condensing capacity 87
5.12.2.3 Retrofitting of existing and decommissioned power plants 87
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 88
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 88
FIGURE 28 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER 88
TABLE 15 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER (%) 88
5.13.2 BUYING CRITERIA 88
FIGURE 29 KEY BUYING CRITERIA FOR END USERS 88
TABLE 16 KEY BUYING CRITERIA, BY END USER 89
5.14 KEY CONFERENCES AND EVENTS, 2022–2024 89
TABLE 17 SYNCHRONOUS CONDENSER MARKET: DETAILED LIST OF CONFERENCES AND EVENTS 89
6 SYNCHRONOUS CONDENSER MARKET, BY TYPE 91
6.1 INTRODUCTION 92
FIGURE 30 NEW SYNCHRONOUS CONDENSER SEGMENT ACCOUNTED FOR LARGER MARKET SHARE IN 2021 92
TABLE 18 SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2018–2021 (USD MILLION) 92
TABLE 19 SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2022–2030 (USD MILLION) 92
6.2 NEW SYNCHRONOUS CONDENSER 93
6.2.1 EXPANSION OF HVDC NETWORKS TO INCREASE INSTALLATION OF NEW SYNCHRONOUS CONDENSERS 93
TABLE 20 NEW SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 93
TABLE 21 NEW SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 93
6.3 REFURBISHED SYNCHRONOUS CONDENSER 94
6.3.1 LOW COST OF REFURBISHED SYNCHRONOUS CONDENSERS TO
FUEL DEMAND 94
TABLE 22 REFURBISHED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 94
TABLE 23 REFURBISHED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 94
7 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY 95
7.1 INTRODUCTION 96
FIGURE 31 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2021 96
TABLE 24 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY,
2018–2021 (USD MILLION) 96
TABLE 25 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY,
2022–2030 (USD MILLION) 97
7.2 HYDROGEN-COOLED SYNCHRONOUS CONDENSER 97
7.2.1 LOW WINDAGE LOSS AND HIGH THERMAL CONDUCTIVITY FEATURES OF HYDROGEN-COOLED SYNCHRONOUS CONDENSERS TO FUEL DEMAND 97
TABLE 26 HYDROGEN-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 98
TABLE 27 HYDROGEN-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 98
7.3 AIR-COOLED SYNCHRONOUS CONDENSER 98
7.3.1 EXCELLENT COOLING FEATURE OF AIR-COOLED SYNCHRONOUS CONDENSERS TO PROPEL DEMAND 98
TABLE 28 AIR-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 99
TABLE 29 AIR-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 99
7.4 WATER-COOLED SYNCHRONOUS CONDENSER 100
7.4.1 HIGHER EFFICIENCY OF WATER-COOLED SYNCHRONOUS CONDENSERS COMPARED TO HYDROGEN-COOLED CONDENSERS TO FUEL DEMAND 100
TABLE 30 WATER-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 100
TABLE 31 WATER-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 100
8 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 101
8.1 INTRODUCTION 102
FIGURE 32 STATIC FREQUENCY CONVERTER SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2021 102
TABLE 32 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD,
2018–2021 (USD MILLION) 102
TABLE 33 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD,
2022–2030 (USD MILLION) 103
8.2 STATIC FREQUENCY CONVERTER 103
8.2.1 LOW INSTALLATION COST OF STATIC FREQUENCY CONVERTER TO
FUEL DEMAND 103
TABLE 34 STATIC FREQUENCY CONVERTER: SYNCHRONOUS CONDENSER MARKET,
BY REGION, 2018–2021 (USD MILLION) 103
TABLE 35 STATIC FREQUENCY CONVERTER: SYNCHRONOUS CONDENSER MARKET,
BY REGION, 2022–2030 (USD MILLION) 104
8.3 PONY MOTOR 104
8.3.1 LOW COST AND ABILITY TO START LOW-CAPACITY SYNCHRONOUS CONDENSERS (BELOW 50 MVAR) TO FUEL DEMAND FOR PONY MOTORS 104
TABLE 36 PONY MOTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 104
TABLE 37 PONY MOTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 105
8.4 OTHERS 105
TABLE 38 OTHERS: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 105
TABLE 39 OTHERS: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 106
9 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING 107
9.1 INTRODUCTION 108
FIGURE 33 ABOVE 200 MVAR SEGMENT ACCOUNTED FOR LARGEST MARKET
SHARE IN 2021 108
TABLE 40 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING,
2018–2021 (USD MILLION) 108
TABLE 41 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING,
2022–2030 (USD MILLION) 109
9.2 UP TO 100 MVAR 109
9.2.1 RISING USE OF AIR- AND WATER-COOLED SYNCHRONOUS CONDENSERS
TO FUEL MARKET GROWTH 109
TABLE 42 UP TO 100 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 110
TABLE 43 UP TO 100 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 110
9.3 101–200 MVAR 110
9.3.1 GROWING NEED TO ENSURE STABILITY OF TRANSMISSION GRIDS TO FUEL DEMAND FOR 101–200 MVAR SYNCHRONOUS CONDENSERS 110
TABLE 44 101–200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 111
TABLE 45 101–200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 111
9.4 ABOVE 200 MVAR 112
9.4.1 RISING ADOPTION OF LARGE-SIZED HYDROGEN-COOLED SYNCHRONOUS CONDENSERS TO DRIVE MARKET GROWTH 112
TABLE 46 ABOVE 200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 112
TABLE 47 ABOVE 200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 112
10 SYNCHRONOUS CONDENSER MARKET, BY END USER 114
10.1 INTRODUCTION 115
FIGURE 34 ELECTRICAL UTILITIES SEGMENT ACCOUNTED FOR LARGER MARKET
SHARE IN 2021 115
TABLE 48 SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 115
TABLE 49 SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 116
10.2 ELECTRICAL UTILITIES 116
10.2.1 RISING NEED TO IMPROVE GRID STABILITY TO BOOST MARKET GROWTH 116
TABLE 50 ELECTRICAL UTILITIES: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 117
TABLE 51 ELECTRICAL UTILITIES: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 117
10.3 INDUSTRIAL SECTOR 117
10.3.1 INCREASING NEED TO PERFORM POWER FACTOR CORRECTION OF INDUSTRIAL LOADS TO FUEL DEMAND FOR SYNCHRONOUS CONDENSERS 117
TABLE 52 INDUSTRIAL SECTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 118
TABLE 53 INDUSTRIAL SECTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 118
11 SYNCHRONOUS CONDENSER MARKET, BY REGION 119
11.1 INTRODUCTION 120
FIGURE 35 SYNCHRONOUS CONDENSER MARKET: REGIONAL SNAPSHOT 120
FIGURE 36 REGIONAL ANALYSIS OF SYNCHRONOUS CONDENSER MARKET, 2021 120
TABLE 54 SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 121
TABLE 55 SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 121
TABLE 56 SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (UNITS) 121
TABLE 57 SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (UNITS) 122
11.2 NORTH AMERICA 122
FIGURE 37 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 123
11.2.1 BY TYPE 123
TABLE 58 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 123
TABLE 59 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 124
11.2.2 BY COOLING TECHNOLOGY 124
TABLE 60 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 124
TABLE 61 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 124
11.2.3 BY STARTING METHOD 125
TABLE 62 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 125
TABLE 63 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 125
11.2.4 BY REACTIVE POWER RATING 125
TABLE 64 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 125
TABLE 65 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 126
11.2.5 BY END USER 126
TABLE 66 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 126
TABLE 67 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 126
11.2.6 BY COUNTRY 127
TABLE 68 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 127
TABLE 69 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 127
11.2.6.1 US 127
11.2.6.1.1 Government-led initiatives to upgrade legacy power infrastructures and phase out coal-based power plants to fuel demand for synchronous condensers 127
FIGURE 38 PLANNED RETIREMENTS OF UTILITY-SCALE ELECTRICITY-GENERATING CAPACITIES IN US, 2022–2030 128
TABLE 70 US: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 128
TABLE 71 US: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 129
11.2.6.2 Canada 129
11.2.6.2.1 Rising investments in renewable energy generation to propel market growth 129
TABLE 72 CANADA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 130
TABLE 73 CANADA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 130
11.3 EUROPE 130
FIGURE 39 EUROPE: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 131
11.3.1 BY TYPE 131
TABLE 74 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 131
TABLE 75 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 132
11.3.2 BY COOLING TECHNOLOGY 132
TABLE 76 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 132
TABLE 77 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 132
11.3.3 BY STARTING METHOD 133
TABLE 78 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 133
TABLE 79 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 133
11.3.4 BY REACTIVE POWER RATING 133
TABLE 80 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 133
TABLE 81 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 134
11.3.5 BY END USER 134
TABLE 82 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 134
TABLE 83 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 134
11.3.6 BY COUNTRY 135
TABLE 84 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2018–2021 (USD MILLION) 135
TABLE 85 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2022–2030 (USD MILLION) 135
11.3.6.1 Denmark 135
11.3.6.1.1 Growing need to stabilize gird transmission to fuel demand for synchronous condensers 135
TABLE 86 DENMARK: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 136
TABLE 87 DENMARK: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 136
11.3.6.2 Italy 136
11.3.6.2.1 Rising integration of renewable sources into grids to propel demand for synchronous condensers 136
TABLE 88 ITALY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 137
TABLE 89 ITALY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 137
11.3.6.3 Germany 137
11.3.6.3.1 Government-led initiatives to replace fossil fuels with renewable sources in power generation mix to drive
market growth 137
TABLE 90 GERMANY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 137
TABLE 91 GERMANY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 138
11.3.6.4 Norway 138
11.3.6.4.1 Rising investments in expansion of HVDC networks to fuel demand for synchronous condensers 138
TABLE 92 NORWAY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 138
TABLE 93 NORWAY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 139
11.3.6.5 Rest of Europe 139
TABLE 94 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 139
TABLE 95 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 139
11.4 SOUTH AMERICA 140
11.4.1 BY TYPE 140
TABLE 96 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 140
TABLE 97 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 140
11.4.2 BY COOLING TECHNOLOGY 141
TABLE 98 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 141
TABLE 99 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 141
11.4.3 BY STARTING METHOD 141
TABLE 100 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 141
TABLE 101 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 142
11.4.4 BY REACTIVE POWER RATING 142
TABLE 102 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 142
TABLE 103 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 142
11.4.5 BY END USER 143
TABLE 104 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 143
TABLE 105 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 143
11.4.6 BY COUNTRY 143
TABLE 106 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 143
TABLE 107 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 144
11.4.6.1 Brazil 144
11.4.6.1.1 Government-led initiatives to develop power infrastructures to fuel demand for synchronous condensers 144
TABLE 108 BRAZIL: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 144
TABLE 109 BRAZIL: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 145
11.4.6.2 Rest of South America 145
TABLE 110 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 145
TABLE 111 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 145
11.5 ASIA PACIFIC 146
FIGURE 40 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 147
11.5.1 BY TYPE 147
TABLE 112 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 147
TABLE 113 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 148
11.5.2 BY COOLING TECHNOLOGY 148
TABLE 114 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 148
TABLE 115 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 148
11.5.3 BY STARTING METHOD 149
TABLE 116 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 149
TABLE 117 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 149
11.5.4 BY REACTIVE POWER RATING 149
TABLE 118 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 149
TABLE 119 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 150
11.5.5 BY END USER 150
TABLE 120 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 150
TABLE 121 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 150
11.5.6 BY COUNTRY 151
TABLE 122 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2018–2021 (USD MILLION) 151
TABLE 123 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2022–2030 (USD MILLION) 151
11.5.6.1 China 151
11.5.6.1.1 Growing need to improve power reliability to fuel demand for synchronous condensers 151
TABLE 124 CHINA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 152
TABLE 125 CHINA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 152
11.5.6.2 Australia 152
11.5.6.2.1 Rising deployment of synchronous condensers in power infrastructures to drive market growth 152
TABLE 126 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 153
TABLE 127 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 153
11.5.6.3 Rest of Asia Pacific 153
TABLE 128 REST OF ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 153
TABLE 129 REST OF ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 154
11.6 MIDDLE EAST & AFRICA 154
11.6.1 BY TYPE 155
TABLE 130 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2018–2021 (USD MILLION) 155
TABLE 131 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2022–2030 (USD MILLION) 155
11.6.2 BY COOLING TECHNOLOGY 155
TABLE 132 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 155
TABLE 133 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 156
11.6.3 BY STARTING METHOD 156
TABLE 134 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY STARTING METHOD, 2018–2021 (USD MILLION) 156
TABLE 135 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY STARTING METHOD, 2022–2030 (USD MILLION) 156
11.6.4 BY REACTIVE POWER RATING 157
TABLE 136 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 157
TABLE 137 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 157
11.6.5 BY END USER 157
TABLE 138 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 157
TABLE 139 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 158
11.6.6 BY COUNTRY 158
TABLE 140 REST OF THE MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 158
TABLE 141 REST OF THE MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 158
11.6.6.1 Kenya 159
11.6.6.1.1 Increasing number of power generation projects to drive market growth 159
TABLE 142 KENYA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 159
TABLE 143 KENYA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 159
11.6.6.2 Rest of Middle East & Africa 160
TABLE 144 REST OF MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 160
TABLE 145 REST OF MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 160
12 COMPETITIVE LANDSCAPE 161
12.1 KEY PLAYER STRATEGIES 161
TABLE 146 OVERVIEW OF KEY STRATEGIES ADOPTED BY TOP MARKET PLAYERS, JANUARY 2017–JUNE 2022 161
12.2 MARKET SHARE ANALYSIS 163
TABLE 147 SYNCHRONOUS CONDENSER MARKET: DEGREE OF COMPETITION 163
FIGURE 41 SYNCHRONOUS CONDENSER MARKET SHARE ANALYSIS, 2021 164
12.3 REVENUE SHARE ANALYSIS OF TOP 5 MARKET PLAYERS 165
FIGURE 42 TOP 5 PLAYERS DOMINATED SYNCHRONOUS CONDENSER MARKET FROM 2017 TO 2021 165
12.4 COMPANY EVALUATION QUADRANT 166
12.4.1 STARS 166
12.4.2 EMERGING LEADERS 166
12.4.3 PERVASIVE PLAYERS 166
12.4.4 PARTICIPANTS 166
FIGURE 43 COMPETITIVE LEADERSHIP MAPPING: SYNCHRONOUS CONDENSER MARKET, 2021 167
12.5 SYNCHRONOUS CONDENSER MARKET: COMPANY FOOTPRINT 168
TABLE 148 TYPE: COMPANY FOOTPRINT 168
TABLE 149 REACTIVE POWER RATING: COMPANY FOOTPRINT 169
TABLE 150 REGION: COMPANY FOOTPRINT 170
TABLE 151 OVERALL COMPANY FOOTPRINT 171
12.6 COMPETITIVE SCENARIO 172
TABLE 152 SYNCHRONOUS CONDENSER MARKET: PRODUCT LAUNCHES,
JANUARY 2017–SEPTEMBER 2021 172
TABLE 153 SYNCHRONOUS CONDENSER MARKET: DEALS, JANUARY 2017–
SEPTEMBER 2021 172
13 COMPANY PROFILES 174
13.1 KEY PLAYERS 174
(Business overview, Products/Solutions/Services offered, Recent Developments, MNM view)*
13.1.1 ABB 174
TABLE 154 ABB: BUSINESS OVERVIEW 174
FIGURE 44 ABB: COMPANY SNAPSHOT, 2021 175
TABLE 155 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED 175
TABLE 156 ABB: PRODUCT LAUNCHES 176
TABLE 157 ABB: DEALS 176
TABLE 158 ABB: OTHERS 177
13.1.2 SIEMENS ENERGY 179
TABLE 159 SIEMENS ENERGY: BUSINESS OVERVIEW 179
FIGURE 45 SIEMENS ENERGY: COMPANY SNAPSHOT, 2021 180
TABLE 160 SIEMENS ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 180
TABLE 161 SIEMENS ENERGY: OTHERS 181
13.1.3 GE 183
TABLE 162 GE: BUSINESS OVERVIEW 183
FIGURE 46 GE: COMPANY SNAPSHOT, 2021 184
TABLE 163 GE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 184
TABLE 164 GE: OTHERS 185
13.1.4 WEG 187
TABLE 165 WEG: BUSINESS OVERVIEW 187
FIGURE 47 WEG: COMPANY SNAPSHOT, 2021 188
TABLE 166 WEG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 188
TABLE 167 WEG: DEALS 189
TABLE 168 WEG: OTHERS 189
13.1.5 EATON 191
TABLE 169 EATON: BUSINESS OVERVIEW 191
FIGURE 48 EATON: COMPANY SNAPSHOT, 2021 192
TABLE 170 EATON: PRODUCTS/SOLUTIONS/SERVICES OFFERED 192
13.1.6 ANDRITZ GROUP 194
TABLE 171 ANDRITZ GROUP: BUSINESS OVERVIEW 194
FIGURE 49 ANDRITZ GROUP: COMPANY SNAPSHOT, 2021 195
TABLE 172 ANDRITZ GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 196
TABLE 173 ANDRITZ GROUP: OTHERS 196
13.1.7 ANSALDO ENERGIA 198
TABLE 174 ANSALDO ENERGIA: BUSINESS OVERVIEW 198
FIGURE 50 ANSALDO ENERGIA: COMPANY SNAPSHOT, 2021 199
TABLE 175 ANSALDO ENERGIA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 200
TABLE 176 ANSALDO ENERGIA: OTHERS 201
13.1.8 MITSUBISHI HEAVY INDUSTRIES 202
TABLE 177 MITSUBISHI HEAVY INDUSTRIES: BUSINESS OVERVIEW 202
FIGURE 51 MITSUBISHI HEAVY INDUSTRIES: COMPANY SNAPSHOT, 2020 203
TABLE 178 MITSUBISHI HEAVY INDUSTRIES: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 203
TABLE 179 MITSUBISHI HEAVY INDUSTRIES: OTHERS 204
13.1.9 VOITH GROUP 206
TABLE 180 VOITH GROUP: BUSINESS OVERVIEW 206
FIGURE 52 VOITH GROUP: COMPANY SNAPSHOT, 2021 207
TABLE 181 VOITH GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 207
TABLE 182 VOITH GROUP: OTHERS 208
13.1.10 FUJI ELECTRIC 210
TABLE 183 FUJI ELECTRIC: BUSINESS OVERVIEW 210
FIGURE 53 FUJI ELECTRIC: COMPANY SNAPSHOT, 2020 211
TABLE 184 FUJI ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 212
13.1.11 BHARAT HEAVY ELECTRICALS LIMITED (BHEL) 213
TABLE 185 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): BUSINESS OVERVIEW 213
FIGURE 54 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): COMPANY SNAPSHOT, 2021 214
TABLE 186 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): PRODUCTS/SOLUTIONS/ SERVICES OFFERED 214
13.1.12 IDEAL ELECTRIC POWER (HYUNDAI IDEAL ELECTRIC CO.) 215
TABLE 187 IDEAL ELECTRIC POWER: BUSINESS OVERVIEW 215
TABLE 188 IDEAL ELECTRIC POWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 215
13.1.13 POWER SYSTEMS & CONTROLS 216
TABLE 189 POWER SYSTEMS & CONTROLS (PS&C): BUSINESS OVERVIEW 216
TABLE 190 POWER SYSTEMS & CONTROLS (PS&C): PRODUCTS/SOLUTIONS/
SERVICES OFFERED 216
13.1.14 BRUSH GROUP 217
TABLE 191 BRUSH GROUP: BUSINESS OVERVIEW 217
TABLE 192 BRUSH GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 217
13.1.15 ELECTROMECHANICAL ENGINEERING ASSOCIATES 218
TABLE 193 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): BUSINESS OVERVIEW 218
TABLE 194 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): PRODUCTS/SOLUTIONS/SERVICES OFFERED 218
TABLE 195 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): OTHERS 219
13.1.16 ANHUI ZHONGDIAN (ZDDQ) ELECTRIC CO., LTD. 220
TABLE 196 ANHUI ZHONGDIAN ELECTRIC CO., LTD.: BUSINESS OVERVIEW 220
TABLE 197 ANHUI ZHONGDIAN ELECTRIC CO., LTD.: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 220
13.1.17 SHANGHAI ELECTRIC 221
TABLE 198 SHANGHAI ELECTRIC: BUSINESS OVERVIEW 221
TABLE 199 SHANGHAI ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 221
13.1.18 INGETEAM 222
TABLE 200 INGETEAM: BUSINESS OVERVIEW 222
TABLE 201 INGETEAM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 222
13.1.19 DOOSAN ŠKODA POWER 223
TABLE 202 DOOSAN ŠKODA POWER: BUSINESS OVERVIEW 223
TABLE 203 DOOSAN ŠKODA POWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 223
13.1.20 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD. 224
TABLE 204 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD.:
BUSINESS OVERVIEW 224
TABLE 205 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 224
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
14 APPENDIX 225
14.1 INSIGHTS FROM INDUSTRY EXPERTS 225
14.2 DISCUSSION GUIDE 226
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 231
14.4 CUSTOMIZATION OPTIONS 233
14.5 RELATED REPORTS 233
14.6 AUTHOR DETAILS 234
1 INTRODUCTION 31
1.1 STUDY OBJECTIVES 31
1.2 MARKET DEFINITION 32
1.3 INCLUSIONS AND EXCLUSIONS 32
1.3.1 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY: INCLUSIONS AND EXCLUSIONS 32
1.3.2 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING: INCLUSIONS AND EXCLUSIONS 33
1.3.3 SYNCHRONOUS CONDENSER MARKET, BY END USER: INCLUSIONS AND EXCLUSIONS 33
1.4 MARKET SCOPE 33
1.4.1 SYNCHRONOUS CONDENSER MARKET: SEGMENTATION 33
1.4.2 SYNCHRONOUS CONDENSER MARKET: REGIONAL SCOPE 34
1.5 YEARS CONSIDERED 34
1.6 CURRENCY CONSIDERED 35
1.7 LIMITATIONS 35
1.8 STAKEHOLDERS 35
1.9 SUMMARY OF CHANGES 36
2 RESEARCH METHODOLOGY 37
2.1 RESEARCH DATA 37
FIGURE 1 SYNCHRONOUS CONDENSER MARKET: RESEARCH DESIGN 38
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 39
2.2.1 SECONDARY DATA 40
2.2.1.1 Key data from secondary sources 40
2.2.2 PRIMARY DATA 41
2.2.2.1 Key data from primary sources 41
2.2.2.2 Breakdown of primaries 42
2.3 SCOPE OF STUDY 42
2.4 DEMAND-SIDE ANALYSIS 43
FIGURE 2 PARAMETERS CONSIDERED WHILE ASSESSING DEMAND FOR SYNCHRONOUS CONDENSERS 43
2.4.1 DEMAND-SIDE ANALYSIS: BOTTOM-UP APPROACH 44
FIGURE 3 SYNCHRONOUS CONDENSER MARKET: INDUSTRY AND REGION-/COUNTRY-WISE ANALYSIS 44
2.4.1.1 Demand-side analysis of synchronous condenser market 44
2.4.1.2 Assumptions while calculating demand-side market size 45
2.4.2 SUPPLY-SIDE ANALYSIS 45
FIGURE 4 CALCULATION OF REVENUES OF MAJOR PLAYERS FROM SALES OF SYNCHRONOUS CONDENSERS TO IDENTIFY GLOBAL MARKET SIZE 45
2.4.2.1 Supply-side analysis of synchronous condenser market 46
FIGURE 5 KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF SYNCHRONOUS CONDENSERS 46
2.4.2.2 Assumptions while calculating supply-side market size 46
FIGURE 6 COMPANY REVENUE ANALYSIS, 2021 47
2.4.3 FORECAST 47
3 EXECUTIVE SUMMARY 48
TABLE 1 SYNCHRONOUS CONDENSER MARKET: SNAPSHOT 48
FIGURE 7 NORTH AMERICA DOMINATED SYNCHRONOUS CONDENSER MARKET
IN 2021 49
FIGURE 8 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT TO DOMINATE MARKET, BY COOLING TECHNOLOGY, DURING FORECAST PERIOD 50
FIGURE 9 STATIC FREQUENCY CONVERTER TO BE FASTEST-GROWING SEGMENT OF SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, DURING FORECAST PERIOD 50
FIGURE 10 ABOVE 200 MVAR SEGMENT TO DOMINATE SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, DURING FORECAST PERIOD 51
FIGURE 11 ELECTRICAL UTILITIES SEGMENT TO DOMINATE SYNCHRONOUS CONDENSER MARKET, BY END USER, DURING FORECAST PERIOD 51
FIGURE 12 NEW SYNCHRONOUS CONDENSER SEGMENT TO LEAD MARKET, BY TYPE, DURING FORECAST PERIOD 52
4 PREMIUM INSIGHTS 53
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SYNCHRONOUS CONDENSER MARKET 53
FIGURE 13 RISING INVESTMENTS IN DEVELOPING POWER INFRASTRUCTURES AND INTEGRATION OF RENEWABLE SOURCES INTO GRIDS TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS DURING FORECAST PERIOD 53
4.2 SYNCHRONOUS CONDENSER MARKET, BY REGION 54
FIGURE 14 NORTH AMERICAN SYNCHRONOUS CONDENSER MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 54
4.3 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE AND COUNTRY, 2021 54
FIGURE 15 REFURBISHED SYNCHRONOUS CONDENSER SEGMENT AND US HELD LARGER SHARES OF NORTH AMERICAN SYNCHRONOUS CONDENSER MARKET IN 2021 54
4.4 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING 55
FIGURE 16 ABOVE 200 MVAR SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE
BY 2030 55
4.5 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 55
FIGURE 17 STATIC FREQUENCY CONVERTER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE BY 2030 55
4.6 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY 56
FIGURE 18 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE BY 2030 56
4.7 SYNCHRONOUS CONDENSER MARKET, BY TYPE 56
FIGURE 19 NEW SYNCHRONOUS CONDENSER SEGMENT TO DOMINATE MARKET
BY 2030 56
5 MARKET OVERVIEW 57
5.1 INTRODUCTION 57
5.2 MARKET DYNAMICS 57
FIGURE 20 SYNCHRONOUS CONDENSER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 57
5.2.1 DRIVERS 58
5.2.1.1 Growing use of renewable and sustainable energy sources and increasing investments in capacity additions 58
FIGURE 21 RENEWABLE ELECTRICITY CAPACITY ADDITION, 2014–2021 59
FIGURE 22 INSTALLED RENEWABLE ELECTRICITY GENERATING CAPACITY, 2020–2050 59
5.2.1.2 Growing requirement for power factor correction (PFC) and increasing investments in developing transmission and distribution (T&D) infrastructures 59
FIGURE 23 INVESTMENTS IN ELECTRICITY NETWORKS, BY REGION (2015–2021) 60
TABLE 2 TRANSMISSION AND DISTRIBUTION (T&D) INFRASTRUCTURE
EXPANSION PLANS 61
5.2.2 RESTRAINTS 62
5.2.2.1 High manufacturing and maintenance costs 62
5.2.3 OPPORTUNITIES 62
5.2.3.1 Conversion of synchronous generators into synchronous condensers 62
5.2.3.2 Rising adoption of high-voltage direct current (HVDC) systems 62
5.2.4 CHALLENGES 63
5.2.4.1 Availability of low-cost substitutes 63
TABLE 3 COMPARISON BETWEEN SYNCHRONOUS CONDENSER AND ITS SUBSTITUTES 63
5.2.4.2 Shortage of components/parts used in manufacturing of synchronous condensers due to COVID-19 64
TABLE 4 CHANGE IN PRICES OF COMMODITIES, 2019–2020 64
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 64
5.3.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR SYNCHRONOUS CONDENSER MANUFACTURERS 64
FIGURE 24 REVENUE SHIFT FOR SYNCHRONOUS CONDENSER MANUFACTURERS 65
5.4 MARKET MAP 66
FIGURE 25 SYNCHRONOUS CONDENSER MARKET: MARKET MAP 66
TABLE 5 SYNCHRONOUS CONDENSER MARKET: ROLE IN ECOSYSTEM 66
5.5 VALUE CHAIN ANALYSIS 68
FIGURE 26 SYNCHRONOUS CONDENSER MARKET: VALUE CHAIN ANALYSIS 68
5.5.1 RAW MATERIAL PROVIDERS/SUPPLIERS 68
5.5.2 COMPONENT MANUFACTURERS 69
5.5.3 SYNCHRONOUS CONDENSER MANUFACTURERS/ASSEMBLERS/
SERVICE PROVIDERS 69
5.5.4 DISTRIBUTORS/END USERS 69
5.5.5 POST-SALES SERVICE PROVIDERS 69
5.6 CODES AND REGULATIONS RELATED TO SYNCHRONOUS CONDENSER MARKET 69
TABLE 6 SYNCHRONOUS CONDENSER MARKET: CODES AND REGULATIONS 69
5.7 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 71
TABLE 7 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 71
TABLE 8 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 73
TABLE 9 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 74
TABLE 10 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 76
TABLE 11 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 76
5.8 INNOVATIONS AND PATENT REGISTRATIONS 77
TABLE 12 SYNCHRONOUS CONDENSER MARKET: INNOVATIONS AND PATENT REGISTRATIONS, FEBRUARY 2016–NOVEMBER 2021 77
5.9 PORTER’S FIVE FORCES ANALYSIS 82
FIGURE 27 PORTER’S FIVE FORCES ANALYSIS 82
TABLE 13 SYNCHRONOUS CONDENSER MARKET: PORTER’S FIVE FORCES ANALYSIS 82
5.9.1 THREAT OF SUBSTITUTES 83
5.9.2 BARGAINING POWER OF SUPPLIERS 83
5.9.3 BARGAINING POWER OF BUYERS 83
5.9.4 THREAT OF NEW ENTRANTS 83
5.9.5 INTENSITY OF COMPETITIVE RIVALRY 84
5.10 CASE STUDY ANALYSIS 84
5.10.1 USE OF GE’S SYNCHRONOUS CONDENSERS IN NORTHWEST VERMONT RELIABILITY PROJECT 84
5.10.1.1 Problem statement 84
5.10.1.2 Solution 84
5.10.2 REFURBISHMENT OF SYNCHRONOUS GENERATORS TO SYNCHRONOUS CONDENSERS 85
5.10.2.1 Problem statement 85
5.10.2.2 Solution 85
5.10.3 USE OF TERNA’S SYNCHRONOUS CONDENSERS TO STABILIZE GRID IN SARDINIA REGION 85
5.10.3.1 Problem statement 85
5.10.3.2 Solution 85
5.11 PRICING ANALYSIS 86
TABLE 14 AVERAGE SELLING PRICE OF SYNCHRONOUS CONDENSERS 86
5.12 TECHNOLOGY ANALYSIS 86
5.12.1 HIGH-TEMPERATURE SUPERCONDUCTOR (HTS) DYNAMIC SYNCHRONOUS CONDENSER 86
5.12.2 MODE OF OPERATION (APPLICATION) 86
5.12.2.1 Standalone synchronous condenser 87
5.12.2.2 Power plants with synchronous condensing capacity 87
5.12.2.3 Retrofitting of existing and decommissioned power plants 87
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 88
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 88
FIGURE 28 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER 88
TABLE 15 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER (%) 88
5.13.2 BUYING CRITERIA 88
FIGURE 29 KEY BUYING CRITERIA FOR END USERS 88
TABLE 16 KEY BUYING CRITERIA, BY END USER 89
5.14 KEY CONFERENCES AND EVENTS, 2022–2024 89
TABLE 17 SYNCHRONOUS CONDENSER MARKET: DETAILED LIST OF CONFERENCES AND EVENTS 89
6 SYNCHRONOUS CONDENSER MARKET, BY TYPE 91
6.1 INTRODUCTION 92
FIGURE 30 NEW SYNCHRONOUS CONDENSER SEGMENT ACCOUNTED FOR LARGER MARKET SHARE IN 2021 92
TABLE 18 SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2018–2021 (USD MILLION) 92
TABLE 19 SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2022–2030 (USD MILLION) 92
6.2 NEW SYNCHRONOUS CONDENSER 93
6.2.1 EXPANSION OF HVDC NETWORKS TO INCREASE INSTALLATION OF NEW SYNCHRONOUS CONDENSERS 93
TABLE 20 NEW SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 93
TABLE 21 NEW SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 93
6.3 REFURBISHED SYNCHRONOUS CONDENSER 94
6.3.1 LOW COST OF REFURBISHED SYNCHRONOUS CONDENSERS TO
FUEL DEMAND 94
TABLE 22 REFURBISHED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 94
TABLE 23 REFURBISHED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 94
7 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY 95
7.1 INTRODUCTION 96
FIGURE 31 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2021 96
TABLE 24 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY,
2018–2021 (USD MILLION) 96
TABLE 25 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY,
2022–2030 (USD MILLION) 97
7.2 HYDROGEN-COOLED SYNCHRONOUS CONDENSER 97
7.2.1 LOW WINDAGE LOSS AND HIGH THERMAL CONDUCTIVITY FEATURES OF HYDROGEN-COOLED SYNCHRONOUS CONDENSERS TO FUEL DEMAND 97
TABLE 26 HYDROGEN-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 98
TABLE 27 HYDROGEN-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 98
7.3 AIR-COOLED SYNCHRONOUS CONDENSER 98
7.3.1 EXCELLENT COOLING FEATURE OF AIR-COOLED SYNCHRONOUS CONDENSERS TO PROPEL DEMAND 98
TABLE 28 AIR-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 99
TABLE 29 AIR-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 99
7.4 WATER-COOLED SYNCHRONOUS CONDENSER 100
7.4.1 HIGHER EFFICIENCY OF WATER-COOLED SYNCHRONOUS CONDENSERS COMPARED TO HYDROGEN-COOLED CONDENSERS TO FUEL DEMAND 100
TABLE 30 WATER-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 100
TABLE 31 WATER-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 100
8 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 101
8.1 INTRODUCTION 102
FIGURE 32 STATIC FREQUENCY CONVERTER SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2021 102
TABLE 32 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD,
2018–2021 (USD MILLION) 102
TABLE 33 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD,
2022–2030 (USD MILLION) 103
8.2 STATIC FREQUENCY CONVERTER 103
8.2.1 LOW INSTALLATION COST OF STATIC FREQUENCY CONVERTER TO
FUEL DEMAND 103
TABLE 34 STATIC FREQUENCY CONVERTER: SYNCHRONOUS CONDENSER MARKET,
BY REGION, 2018–2021 (USD MILLION) 103
TABLE 35 STATIC FREQUENCY CONVERTER: SYNCHRONOUS CONDENSER MARKET,
BY REGION, 2022–2030 (USD MILLION) 104
8.3 PONY MOTOR 104
8.3.1 LOW COST AND ABILITY TO START LOW-CAPACITY SYNCHRONOUS CONDENSERS (BELOW 50 MVAR) TO FUEL DEMAND FOR PONY MOTORS 104
TABLE 36 PONY MOTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 104
TABLE 37 PONY MOTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 105
8.4 OTHERS 105
TABLE 38 OTHERS: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 105
TABLE 39 OTHERS: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 106
9 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING 107
9.1 INTRODUCTION 108
FIGURE 33 ABOVE 200 MVAR SEGMENT ACCOUNTED FOR LARGEST MARKET
SHARE IN 2021 108
TABLE 40 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING,
2018–2021 (USD MILLION) 108
TABLE 41 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING,
2022–2030 (USD MILLION) 109
9.2 UP TO 100 MVAR 109
9.2.1 RISING USE OF AIR- AND WATER-COOLED SYNCHRONOUS CONDENSERS
TO FUEL MARKET GROWTH 109
TABLE 42 UP TO 100 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 110
TABLE 43 UP TO 100 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 110
9.3 101–200 MVAR 110
9.3.1 GROWING NEED TO ENSURE STABILITY OF TRANSMISSION GRIDS TO FUEL DEMAND FOR 101–200 MVAR SYNCHRONOUS CONDENSERS 110
TABLE 44 101–200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 111
TABLE 45 101–200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 111
9.4 ABOVE 200 MVAR 112
9.4.1 RISING ADOPTION OF LARGE-SIZED HYDROGEN-COOLED SYNCHRONOUS CONDENSERS TO DRIVE MARKET GROWTH 112
TABLE 46 ABOVE 200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 112
TABLE 47 ABOVE 200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 112
10 SYNCHRONOUS CONDENSER MARKET, BY END USER 114
10.1 INTRODUCTION 115
FIGURE 34 ELECTRICAL UTILITIES SEGMENT ACCOUNTED FOR LARGER MARKET
SHARE IN 2021 115
TABLE 48 SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 115
TABLE 49 SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 116
10.2 ELECTRICAL UTILITIES 116
10.2.1 RISING NEED TO IMPROVE GRID STABILITY TO BOOST MARKET GROWTH 116
TABLE 50 ELECTRICAL UTILITIES: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 117
TABLE 51 ELECTRICAL UTILITIES: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 117
10.3 INDUSTRIAL SECTOR 117
10.3.1 INCREASING NEED TO PERFORM POWER FACTOR CORRECTION OF INDUSTRIAL LOADS TO FUEL DEMAND FOR SYNCHRONOUS CONDENSERS 117
TABLE 52 INDUSTRIAL SECTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 118
TABLE 53 INDUSTRIAL SECTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 118
11 SYNCHRONOUS CONDENSER MARKET, BY REGION 119
11.1 INTRODUCTION 120
FIGURE 35 SYNCHRONOUS CONDENSER MARKET: REGIONAL SNAPSHOT 120
FIGURE 36 REGIONAL ANALYSIS OF SYNCHRONOUS CONDENSER MARKET, 2021 120
TABLE 54 SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 121
TABLE 55 SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 121
TABLE 56 SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (UNITS) 121
TABLE 57 SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (UNITS) 122
11.2 NORTH AMERICA 122
FIGURE 37 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 123
11.2.1 BY TYPE 123
TABLE 58 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 123
TABLE 59 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 124
11.2.2 BY COOLING TECHNOLOGY 124
TABLE 60 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 124
TABLE 61 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 124
11.2.3 BY STARTING METHOD 125
TABLE 62 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 125
TABLE 63 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 125
11.2.4 BY REACTIVE POWER RATING 125
TABLE 64 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 125
TABLE 65 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 126
11.2.5 BY END USER 126
TABLE 66 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 126
TABLE 67 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 126
11.2.6 BY COUNTRY 127
TABLE 68 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 127
TABLE 69 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 127
11.2.6.1 US 127
11.2.6.1.1 Government-led initiatives to upgrade legacy power infrastructures and phase out coal-based power plants to fuel demand for synchronous condensers 127
FIGURE 38 PLANNED RETIREMENTS OF UTILITY-SCALE ELECTRICITY-GENERATING CAPACITIES IN US, 2022–2030 128
TABLE 70 US: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 128
TABLE 71 US: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 129
11.2.6.2 Canada 129
11.2.6.2.1 Rising investments in renewable energy generation to propel market growth 129
TABLE 72 CANADA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 130
TABLE 73 CANADA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 130
11.3 EUROPE 130
FIGURE 39 EUROPE: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 131
11.3.1 BY TYPE 131
TABLE 74 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 131
TABLE 75 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 132
11.3.2 BY COOLING TECHNOLOGY 132
TABLE 76 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 132
TABLE 77 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 132
11.3.3 BY STARTING METHOD 133
TABLE 78 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 133
TABLE 79 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 133
11.3.4 BY REACTIVE POWER RATING 133
TABLE 80 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 133
TABLE 81 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 134
11.3.5 BY END USER 134
TABLE 82 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 134
TABLE 83 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 134
11.3.6 BY COUNTRY 135
TABLE 84 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2018–2021 (USD MILLION) 135
TABLE 85 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2022–2030 (USD MILLION) 135
11.3.6.1 Denmark 135
11.3.6.1.1 Growing need to stabilize gird transmission to fuel demand for synchronous condensers 135
TABLE 86 DENMARK: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 136
TABLE 87 DENMARK: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 136
11.3.6.2 Italy 136
11.3.6.2.1 Rising integration of renewable sources into grids to propel demand for synchronous condensers 136
TABLE 88 ITALY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 137
TABLE 89 ITALY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 137
11.3.6.3 Germany 137
11.3.6.3.1 Government-led initiatives to replace fossil fuels with renewable sources in power generation mix to drive
market growth 137
TABLE 90 GERMANY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 137
TABLE 91 GERMANY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 138
11.3.6.4 Norway 138
11.3.6.4.1 Rising investments in expansion of HVDC networks to fuel demand for synchronous condensers 138
TABLE 92 NORWAY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 138
TABLE 93 NORWAY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 139
11.3.6.5 Rest of Europe 139
TABLE 94 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 139
TABLE 95 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 139
11.4 SOUTH AMERICA 140
11.4.1 BY TYPE 140
TABLE 96 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 140
TABLE 97 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 140
11.4.2 BY COOLING TECHNOLOGY 141
TABLE 98 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 141
TABLE 99 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 141
11.4.3 BY STARTING METHOD 141
TABLE 100 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 141
TABLE 101 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 142
11.4.4 BY REACTIVE POWER RATING 142
TABLE 102 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 142
TABLE 103 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 142
11.4.5 BY END USER 143
TABLE 104 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 143
TABLE 105 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 143
11.4.6 BY COUNTRY 143
TABLE 106 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 143
TABLE 107 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 144
11.4.6.1 Brazil 144
11.4.6.1.1 Government-led initiatives to develop power infrastructures to fuel demand for synchronous condensers 144
TABLE 108 BRAZIL: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 144
TABLE 109 BRAZIL: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 145
11.4.6.2 Rest of South America 145
TABLE 110 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 145
TABLE 111 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 145
11.5 ASIA PACIFIC 146
FIGURE 40 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 147
11.5.1 BY TYPE 147
TABLE 112 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 147
TABLE 113 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 148
11.5.2 BY COOLING TECHNOLOGY 148
TABLE 114 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 148
TABLE 115 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 148
11.5.3 BY STARTING METHOD 149
TABLE 116 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 149
TABLE 117 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 149
11.5.4 BY REACTIVE POWER RATING 149
TABLE 118 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 149
TABLE 119 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 150
11.5.5 BY END USER 150
TABLE 120 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 150
TABLE 121 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 150
11.5.6 BY COUNTRY 151
TABLE 122 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2018–2021 (USD MILLION) 151
TABLE 123 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2022–2030 (USD MILLION) 151
11.5.6.1 China 151
11.5.6.1.1 Growing need to improve power reliability to fuel demand for synchronous condensers 151
TABLE 124 CHINA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 152
TABLE 125 CHINA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 152
11.5.6.2 Australia 152
11.5.6.2.1 Rising deployment of synchronous condensers in power infrastructures to drive market growth 152
TABLE 126 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 153
TABLE 127 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 153
11.5.6.3 Rest of Asia Pacific 153
TABLE 128 REST OF ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 153
TABLE 129 REST OF ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 154
11.6 MIDDLE EAST & AFRICA 154
11.6.1 BY TYPE 155
TABLE 130 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2018–2021 (USD MILLION) 155
TABLE 131 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2022–2030 (USD MILLION) 155
11.6.2 BY COOLING TECHNOLOGY 155
TABLE 132 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 155
TABLE 133 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 156
11.6.3 BY STARTING METHOD 156
TABLE 134 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY STARTING METHOD, 2018–2021 (USD MILLION) 156
TABLE 135 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY STARTING METHOD, 2022–2030 (USD MILLION) 156
11.6.4 BY REACTIVE POWER RATING 157
TABLE 136 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 157
TABLE 137 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 157
11.6.5 BY END USER 157
TABLE 138 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 157
TABLE 139 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 158
11.6.6 BY COUNTRY 158
TABLE 140 REST OF THE MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 158
TABLE 141 REST OF THE MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 158
11.6.6.1 Kenya 159
11.6.6.1.1 Increasing number of power generation projects to drive market growth 159
TABLE 142 KENYA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 159
TABLE 143 KENYA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 159
11.6.6.2 Rest of Middle East & Africa 160
TABLE 144 REST OF MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 160
TABLE 145 REST OF MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 160
12 COMPETITIVE LANDSCAPE 161
12.1 KEY PLAYER STRATEGIES 161
TABLE 146 OVERVIEW OF KEY STRATEGIES ADOPTED BY TOP MARKET PLAYERS, JANUARY 2017–JUNE 2022 161
12.2 MARKET SHARE ANALYSIS 163
TABLE 147 SYNCHRONOUS CONDENSER MARKET: DEGREE OF COMPETITION 163
FIGURE 41 SYNCHRONOUS CONDENSER MARKET SHARE ANALYSIS, 2021 164
12.3 REVENUE SHARE ANALYSIS OF TOP 5 MARKET PLAYERS 165
FIGURE 42 TOP 5 PLAYERS DOMINATED SYNCHRONOUS CONDENSER MARKET FROM 2017 TO 2021 165
12.4 COMPANY EVALUATION QUADRANT 166
12.4.1 STARS 166
12.4.2 EMERGING LEADERS 166
12.4.3 PERVASIVE PLAYERS 166
12.4.4 PARTICIPANTS 166
FIGURE 43 COMPETITIVE LEADERSHIP MAPPING: SYNCHRONOUS CONDENSER MARKET, 2021 167
12.5 SYNCHRONOUS CONDENSER MARKET: COMPANY FOOTPRINT 168
TABLE 148 TYPE: COMPANY FOOTPRINT 168
TABLE 149 REACTIVE POWER RATING: COMPANY FOOTPRINT 169
TABLE 150 REGION: COMPANY FOOTPRINT 170
TABLE 151 OVERALL COMPANY FOOTPRINT 171
12.6 COMPETITIVE SCENARIO 172
TABLE 152 SYNCHRONOUS CONDENSER MARKET: PRODUCT LAUNCHES,
JANUARY 2017–SEPTEMBER 2021 172
TABLE 153 SYNCHRONOUS CONDENSER MARKET: DEALS, JANUARY 2017–
SEPTEMBER 2021 172
13 COMPANY PROFILES 174
13.1 KEY PLAYERS 174
(Business overview, Products/Solutions/Services offered, Recent Developments, MNM view)*
13.1.1 ABB 174
TABLE 154 ABB: BUSINESS OVERVIEW 174
FIGURE 44 ABB: COMPANY SNAPSHOT, 2021 175
TABLE 155 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED 175
TABLE 156 ABB: PRODUCT LAUNCHES 176
TABLE 157 ABB: DEALS 176
TABLE 158 ABB: OTHERS 177
13.1.2 SIEMENS ENERGY 179
TABLE 159 SIEMENS ENERGY: BUSINESS OVERVIEW 179
FIGURE 45 SIEMENS ENERGY: COMPANY SNAPSHOT, 2021 180
TABLE 160 SIEMENS ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 180
TABLE 161 SIEMENS ENERGY: OTHERS 181
13.1.3 GE 183
TABLE 162 GE: BUSINESS OVERVIEW 183
FIGURE 46 GE: COMPANY SNAPSHOT, 2021 184
TABLE 163 GE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 184
TABLE 164 GE: OTHERS 185
13.1.4 WEG 187
TABLE 165 WEG: BUSINESS OVERVIEW 187
FIGURE 47 WEG: COMPANY SNAPSHOT, 2021 188
TABLE 166 WEG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 188
TABLE 167 WEG: DEALS 189
TABLE 168 WEG: OTHERS 189
13.1.5 EATON 191
TABLE 169 EATON: BUSINESS OVERVIEW 191
FIGURE 48 EATON: COMPANY SNAPSHOT, 2021 192
TABLE 170 EATON: PRODUCTS/SOLUTIONS/SERVICES OFFERED 192
13.1.6 ANDRITZ GROUP 194
TABLE 171 ANDRITZ GROUP: BUSINESS OVERVIEW 194
FIGURE 49 ANDRITZ GROUP: COMPANY SNAPSHOT, 2021 195
TABLE 172 ANDRITZ GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 196
TABLE 173 ANDRITZ GROUP: OTHERS 196
13.1.7 ANSALDO ENERGIA 198
TABLE 174 ANSALDO ENERGIA: BUSINESS OVERVIEW 198
FIGURE 50 ANSALDO ENERGIA: COMPANY SNAPSHOT, 2021 199
TABLE 175 ANSALDO ENERGIA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 200
TABLE 176 ANSALDO ENERGIA: OTHERS 201
13.1.8 MITSUBISHI HEAVY INDUSTRIES 202
TABLE 177 MITSUBISHI HEAVY INDUSTRIES: BUSINESS OVERVIEW 202
FIGURE 51 MITSUBISHI HEAVY INDUSTRIES: COMPANY SNAPSHOT, 2020 203
TABLE 178 MITSUBISHI HEAVY INDUSTRIES: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 203
TABLE 179 MITSUBISHI HEAVY INDUSTRIES: OTHERS 204
13.1.9 VOITH GROUP 206
TABLE 180 VOITH GROUP: BUSINESS OVERVIEW 206
FIGURE 52 VOITH GROUP: COMPANY SNAPSHOT, 2021 207
TABLE 181 VOITH GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 207
TABLE 182 VOITH GROUP: OTHERS 208
13.1.10 FUJI ELECTRIC 210
TABLE 183 FUJI ELECTRIC: BUSINESS OVERVIEW 210
FIGURE 53 FUJI ELECTRIC: COMPANY SNAPSHOT, 2020 211
TABLE 184 FUJI ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 212
13.1.11 BHARAT HEAVY ELECTRICALS LIMITED (BHEL) 213
TABLE 185 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): BUSINESS OVERVIEW 213
FIGURE 54 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): COMPANY SNAPSHOT, 2021 214
TABLE 186 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): PRODUCTS/SOLUTIONS/ SERVICES OFFERED 214
13.1.12 IDEAL ELECTRIC POWER (HYUNDAI IDEAL ELECTRIC CO.) 215
TABLE 187 IDEAL ELECTRIC POWER: BUSINESS OVERVIEW 215
TABLE 188 IDEAL ELECTRIC POWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 215
13.1.13 POWER SYSTEMS & CONTROLS 216
TABLE 189 POWER SYSTEMS & CONTROLS (PS&C): BUSINESS OVERVIEW 216
TABLE 190 POWER SYSTEMS & CONTROLS (PS&C): PRODUCTS/SOLUTIONS/
SERVICES OFFERED 216
13.1.14 BRUSH GROUP 217
TABLE 191 BRUSH GROUP: BUSINESS OVERVIEW 217
TABLE 192 BRUSH GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 217
13.1.15 ELECTROMECHANICAL ENGINEERING ASSOCIATES 218
TABLE 193 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): BUSINESS OVERVIEW 218
TABLE 194 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): PRODUCTS/SOLUTIONS/SERVICES OFFERED 218
TABLE 195 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): OTHERS 219
13.1.16 ANHUI ZHONGDIAN (ZDDQ) ELECTRIC CO., LTD. 220
TABLE 196 ANHUI ZHONGDIAN ELECTRIC CO., LTD.: BUSINESS OVERVIEW 220
TABLE 197 ANHUI ZHONGDIAN ELECTRIC CO., LTD.: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 220
13.1.17 SHANGHAI ELECTRIC 221
TABLE 198 SHANGHAI ELECTRIC: BUSINESS OVERVIEW 221
TABLE 199 SHANGHAI ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 221
13.1.18 INGETEAM 222
TABLE 200 INGETEAM: BUSINESS OVERVIEW 222
TABLE 201 INGETEAM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 222
13.1.19 DOOSAN ŠKODA POWER 223
TABLE 202 DOOSAN ŠKODA POWER: BUSINESS OVERVIEW 223
TABLE 203 DOOSAN ŠKODA POWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 223
13.1.20 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD. 224
TABLE 204 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD.:
BUSINESS OVERVIEW 224
TABLE 205 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 224
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
14 APPENDIX 225
14.1 INSIGHTS FROM INDUSTRY EXPERTS 225
14.2 DISCUSSION GUIDE 226
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 231
14.4 CUSTOMIZATION OPTIONS 233
14.5 RELATED REPORTS 233
14.6 AUTHOR DETAILS 234
1.1 STUDY OBJECTIVES 31
1.2 MARKET DEFINITION 32
1.3 INCLUSIONS AND EXCLUSIONS 32
1.3.1 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY: INCLUSIONS AND EXCLUSIONS 32
1.3.2 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING: INCLUSIONS AND EXCLUSIONS 33
1.3.3 SYNCHRONOUS CONDENSER MARKET, BY END USER: INCLUSIONS AND EXCLUSIONS 33
1.4 MARKET SCOPE 33
1.4.1 SYNCHRONOUS CONDENSER MARKET: SEGMENTATION 33
1.4.2 SYNCHRONOUS CONDENSER MARKET: REGIONAL SCOPE 34
1.5 YEARS CONSIDERED 34
1.6 CURRENCY CONSIDERED 35
1.7 LIMITATIONS 35
1.8 STAKEHOLDERS 35
1.9 SUMMARY OF CHANGES 36
2 RESEARCH METHODOLOGY 37
2.1 RESEARCH DATA 37
FIGURE 1 SYNCHRONOUS CONDENSER MARKET: RESEARCH DESIGN 38
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 39
2.2.1 SECONDARY DATA 40
2.2.1.1 Key data from secondary sources 40
2.2.2 PRIMARY DATA 41
2.2.2.1 Key data from primary sources 41
2.2.2.2 Breakdown of primaries 42
2.3 SCOPE OF STUDY 42
2.4 DEMAND-SIDE ANALYSIS 43
FIGURE 2 PARAMETERS CONSIDERED WHILE ASSESSING DEMAND FOR SYNCHRONOUS CONDENSERS 43
2.4.1 DEMAND-SIDE ANALYSIS: BOTTOM-UP APPROACH 44
FIGURE 3 SYNCHRONOUS CONDENSER MARKET: INDUSTRY AND REGION-/COUNTRY-WISE ANALYSIS 44
2.4.1.1 Demand-side analysis of synchronous condenser market 44
2.4.1.2 Assumptions while calculating demand-side market size 45
2.4.2 SUPPLY-SIDE ANALYSIS 45
FIGURE 4 CALCULATION OF REVENUES OF MAJOR PLAYERS FROM SALES OF SYNCHRONOUS CONDENSERS TO IDENTIFY GLOBAL MARKET SIZE 45
2.4.2.1 Supply-side analysis of synchronous condenser market 46
FIGURE 5 KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF SYNCHRONOUS CONDENSERS 46
2.4.2.2 Assumptions while calculating supply-side market size 46
FIGURE 6 COMPANY REVENUE ANALYSIS, 2021 47
2.4.3 FORECAST 47
3 EXECUTIVE SUMMARY 48
TABLE 1 SYNCHRONOUS CONDENSER MARKET: SNAPSHOT 48
FIGURE 7 NORTH AMERICA DOMINATED SYNCHRONOUS CONDENSER MARKET
IN 2021 49
FIGURE 8 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT TO DOMINATE MARKET, BY COOLING TECHNOLOGY, DURING FORECAST PERIOD 50
FIGURE 9 STATIC FREQUENCY CONVERTER TO BE FASTEST-GROWING SEGMENT OF SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, DURING FORECAST PERIOD 50
FIGURE 10 ABOVE 200 MVAR SEGMENT TO DOMINATE SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, DURING FORECAST PERIOD 51
FIGURE 11 ELECTRICAL UTILITIES SEGMENT TO DOMINATE SYNCHRONOUS CONDENSER MARKET, BY END USER, DURING FORECAST PERIOD 51
FIGURE 12 NEW SYNCHRONOUS CONDENSER SEGMENT TO LEAD MARKET, BY TYPE, DURING FORECAST PERIOD 52
4 PREMIUM INSIGHTS 53
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SYNCHRONOUS CONDENSER MARKET 53
FIGURE 13 RISING INVESTMENTS IN DEVELOPING POWER INFRASTRUCTURES AND INTEGRATION OF RENEWABLE SOURCES INTO GRIDS TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS DURING FORECAST PERIOD 53
4.2 SYNCHRONOUS CONDENSER MARKET, BY REGION 54
FIGURE 14 NORTH AMERICAN SYNCHRONOUS CONDENSER MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 54
4.3 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE AND COUNTRY, 2021 54
FIGURE 15 REFURBISHED SYNCHRONOUS CONDENSER SEGMENT AND US HELD LARGER SHARES OF NORTH AMERICAN SYNCHRONOUS CONDENSER MARKET IN 2021 54
4.4 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING 55
FIGURE 16 ABOVE 200 MVAR SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE
BY 2030 55
4.5 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 55
FIGURE 17 STATIC FREQUENCY CONVERTER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE BY 2030 55
4.6 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY 56
FIGURE 18 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE BY 2030 56
4.7 SYNCHRONOUS CONDENSER MARKET, BY TYPE 56
FIGURE 19 NEW SYNCHRONOUS CONDENSER SEGMENT TO DOMINATE MARKET
BY 2030 56
5 MARKET OVERVIEW 57
5.1 INTRODUCTION 57
5.2 MARKET DYNAMICS 57
FIGURE 20 SYNCHRONOUS CONDENSER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 57
5.2.1 DRIVERS 58
5.2.1.1 Growing use of renewable and sustainable energy sources and increasing investments in capacity additions 58
FIGURE 21 RENEWABLE ELECTRICITY CAPACITY ADDITION, 2014–2021 59
FIGURE 22 INSTALLED RENEWABLE ELECTRICITY GENERATING CAPACITY, 2020–2050 59
5.2.1.2 Growing requirement for power factor correction (PFC) and increasing investments in developing transmission and distribution (T&D) infrastructures 59
FIGURE 23 INVESTMENTS IN ELECTRICITY NETWORKS, BY REGION (2015–2021) 60
TABLE 2 TRANSMISSION AND DISTRIBUTION (T&D) INFRASTRUCTURE
EXPANSION PLANS 61
5.2.2 RESTRAINTS 62
5.2.2.1 High manufacturing and maintenance costs 62
5.2.3 OPPORTUNITIES 62
5.2.3.1 Conversion of synchronous generators into synchronous condensers 62
5.2.3.2 Rising adoption of high-voltage direct current (HVDC) systems 62
5.2.4 CHALLENGES 63
5.2.4.1 Availability of low-cost substitutes 63
TABLE 3 COMPARISON BETWEEN SYNCHRONOUS CONDENSER AND ITS SUBSTITUTES 63
5.2.4.2 Shortage of components/parts used in manufacturing of synchronous condensers due to COVID-19 64
TABLE 4 CHANGE IN PRICES OF COMMODITIES, 2019–2020 64
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 64
5.3.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR SYNCHRONOUS CONDENSER MANUFACTURERS 64
FIGURE 24 REVENUE SHIFT FOR SYNCHRONOUS CONDENSER MANUFACTURERS 65
5.4 MARKET MAP 66
FIGURE 25 SYNCHRONOUS CONDENSER MARKET: MARKET MAP 66
TABLE 5 SYNCHRONOUS CONDENSER MARKET: ROLE IN ECOSYSTEM 66
5.5 VALUE CHAIN ANALYSIS 68
FIGURE 26 SYNCHRONOUS CONDENSER MARKET: VALUE CHAIN ANALYSIS 68
5.5.1 RAW MATERIAL PROVIDERS/SUPPLIERS 68
5.5.2 COMPONENT MANUFACTURERS 69
5.5.3 SYNCHRONOUS CONDENSER MANUFACTURERS/ASSEMBLERS/
SERVICE PROVIDERS 69
5.5.4 DISTRIBUTORS/END USERS 69
5.5.5 POST-SALES SERVICE PROVIDERS 69
5.6 CODES AND REGULATIONS RELATED TO SYNCHRONOUS CONDENSER MARKET 69
TABLE 6 SYNCHRONOUS CONDENSER MARKET: CODES AND REGULATIONS 69
5.7 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 71
TABLE 7 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 71
TABLE 8 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 73
TABLE 9 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 74
TABLE 10 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 76
TABLE 11 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 76
5.8 INNOVATIONS AND PATENT REGISTRATIONS 77
TABLE 12 SYNCHRONOUS CONDENSER MARKET: INNOVATIONS AND PATENT REGISTRATIONS, FEBRUARY 2016–NOVEMBER 2021 77
5.9 PORTER’S FIVE FORCES ANALYSIS 82
FIGURE 27 PORTER’S FIVE FORCES ANALYSIS 82
TABLE 13 SYNCHRONOUS CONDENSER MARKET: PORTER’S FIVE FORCES ANALYSIS 82
5.9.1 THREAT OF SUBSTITUTES 83
5.9.2 BARGAINING POWER OF SUPPLIERS 83
5.9.3 BARGAINING POWER OF BUYERS 83
5.9.4 THREAT OF NEW ENTRANTS 83
5.9.5 INTENSITY OF COMPETITIVE RIVALRY 84
5.10 CASE STUDY ANALYSIS 84
5.10.1 USE OF GE’S SYNCHRONOUS CONDENSERS IN NORTHWEST VERMONT RELIABILITY PROJECT 84
5.10.1.1 Problem statement 84
5.10.1.2 Solution 84
5.10.2 REFURBISHMENT OF SYNCHRONOUS GENERATORS TO SYNCHRONOUS CONDENSERS 85
5.10.2.1 Problem statement 85
5.10.2.2 Solution 85
5.10.3 USE OF TERNA’S SYNCHRONOUS CONDENSERS TO STABILIZE GRID IN SARDINIA REGION 85
5.10.3.1 Problem statement 85
5.10.3.2 Solution 85
5.11 PRICING ANALYSIS 86
TABLE 14 AVERAGE SELLING PRICE OF SYNCHRONOUS CONDENSERS 86
5.12 TECHNOLOGY ANALYSIS 86
5.12.1 HIGH-TEMPERATURE SUPERCONDUCTOR (HTS) DYNAMIC SYNCHRONOUS CONDENSER 86
5.12.2 MODE OF OPERATION (APPLICATION) 86
5.12.2.1 Standalone synchronous condenser 87
5.12.2.2 Power plants with synchronous condensing capacity 87
5.12.2.3 Retrofitting of existing and decommissioned power plants 87
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 88
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 88
FIGURE 28 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER 88
TABLE 15 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER (%) 88
5.13.2 BUYING CRITERIA 88
FIGURE 29 KEY BUYING CRITERIA FOR END USERS 88
TABLE 16 KEY BUYING CRITERIA, BY END USER 89
5.14 KEY CONFERENCES AND EVENTS, 2022–2024 89
TABLE 17 SYNCHRONOUS CONDENSER MARKET: DETAILED LIST OF CONFERENCES AND EVENTS 89
6 SYNCHRONOUS CONDENSER MARKET, BY TYPE 91
6.1 INTRODUCTION 92
FIGURE 30 NEW SYNCHRONOUS CONDENSER SEGMENT ACCOUNTED FOR LARGER MARKET SHARE IN 2021 92
TABLE 18 SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2018–2021 (USD MILLION) 92
TABLE 19 SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2022–2030 (USD MILLION) 92
6.2 NEW SYNCHRONOUS CONDENSER 93
6.2.1 EXPANSION OF HVDC NETWORKS TO INCREASE INSTALLATION OF NEW SYNCHRONOUS CONDENSERS 93
TABLE 20 NEW SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 93
TABLE 21 NEW SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 93
6.3 REFURBISHED SYNCHRONOUS CONDENSER 94
6.3.1 LOW COST OF REFURBISHED SYNCHRONOUS CONDENSERS TO
FUEL DEMAND 94
TABLE 22 REFURBISHED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 94
TABLE 23 REFURBISHED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 94
7 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY 95
7.1 INTRODUCTION 96
FIGURE 31 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2021 96
TABLE 24 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY,
2018–2021 (USD MILLION) 96
TABLE 25 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY,
2022–2030 (USD MILLION) 97
7.2 HYDROGEN-COOLED SYNCHRONOUS CONDENSER 97
7.2.1 LOW WINDAGE LOSS AND HIGH THERMAL CONDUCTIVITY FEATURES OF HYDROGEN-COOLED SYNCHRONOUS CONDENSERS TO FUEL DEMAND 97
TABLE 26 HYDROGEN-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 98
TABLE 27 HYDROGEN-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 98
7.3 AIR-COOLED SYNCHRONOUS CONDENSER 98
7.3.1 EXCELLENT COOLING FEATURE OF AIR-COOLED SYNCHRONOUS CONDENSERS TO PROPEL DEMAND 98
TABLE 28 AIR-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 99
TABLE 29 AIR-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 99
7.4 WATER-COOLED SYNCHRONOUS CONDENSER 100
7.4.1 HIGHER EFFICIENCY OF WATER-COOLED SYNCHRONOUS CONDENSERS COMPARED TO HYDROGEN-COOLED CONDENSERS TO FUEL DEMAND 100
TABLE 30 WATER-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 100
TABLE 31 WATER-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 100
8 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 101
8.1 INTRODUCTION 102
FIGURE 32 STATIC FREQUENCY CONVERTER SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2021 102
TABLE 32 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD,
2018–2021 (USD MILLION) 102
TABLE 33 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD,
2022–2030 (USD MILLION) 103
8.2 STATIC FREQUENCY CONVERTER 103
8.2.1 LOW INSTALLATION COST OF STATIC FREQUENCY CONVERTER TO
FUEL DEMAND 103
TABLE 34 STATIC FREQUENCY CONVERTER: SYNCHRONOUS CONDENSER MARKET,
BY REGION, 2018–2021 (USD MILLION) 103
TABLE 35 STATIC FREQUENCY CONVERTER: SYNCHRONOUS CONDENSER MARKET,
BY REGION, 2022–2030 (USD MILLION) 104
8.3 PONY MOTOR 104
8.3.1 LOW COST AND ABILITY TO START LOW-CAPACITY SYNCHRONOUS CONDENSERS (BELOW 50 MVAR) TO FUEL DEMAND FOR PONY MOTORS 104
TABLE 36 PONY MOTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 104
TABLE 37 PONY MOTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 105
8.4 OTHERS 105
TABLE 38 OTHERS: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 105
TABLE 39 OTHERS: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 106
9 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING 107
9.1 INTRODUCTION 108
FIGURE 33 ABOVE 200 MVAR SEGMENT ACCOUNTED FOR LARGEST MARKET
SHARE IN 2021 108
TABLE 40 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING,
2018–2021 (USD MILLION) 108
TABLE 41 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING,
2022–2030 (USD MILLION) 109
9.2 UP TO 100 MVAR 109
9.2.1 RISING USE OF AIR- AND WATER-COOLED SYNCHRONOUS CONDENSERS
TO FUEL MARKET GROWTH 109
TABLE 42 UP TO 100 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 110
TABLE 43 UP TO 100 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 110
9.3 101–200 MVAR 110
9.3.1 GROWING NEED TO ENSURE STABILITY OF TRANSMISSION GRIDS TO FUEL DEMAND FOR 101–200 MVAR SYNCHRONOUS CONDENSERS 110
TABLE 44 101–200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 111
TABLE 45 101–200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 111
9.4 ABOVE 200 MVAR 112
9.4.1 RISING ADOPTION OF LARGE-SIZED HYDROGEN-COOLED SYNCHRONOUS CONDENSERS TO DRIVE MARKET GROWTH 112
TABLE 46 ABOVE 200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 112
TABLE 47 ABOVE 200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 112
10 SYNCHRONOUS CONDENSER MARKET, BY END USER 114
10.1 INTRODUCTION 115
FIGURE 34 ELECTRICAL UTILITIES SEGMENT ACCOUNTED FOR LARGER MARKET
SHARE IN 2021 115
TABLE 48 SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 115
TABLE 49 SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 116
10.2 ELECTRICAL UTILITIES 116
10.2.1 RISING NEED TO IMPROVE GRID STABILITY TO BOOST MARKET GROWTH 116
TABLE 50 ELECTRICAL UTILITIES: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 117
TABLE 51 ELECTRICAL UTILITIES: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 117
10.3 INDUSTRIAL SECTOR 117
10.3.1 INCREASING NEED TO PERFORM POWER FACTOR CORRECTION OF INDUSTRIAL LOADS TO FUEL DEMAND FOR SYNCHRONOUS CONDENSERS 117
TABLE 52 INDUSTRIAL SECTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 118
TABLE 53 INDUSTRIAL SECTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 118
11 SYNCHRONOUS CONDENSER MARKET, BY REGION 119
11.1 INTRODUCTION 120
FIGURE 35 SYNCHRONOUS CONDENSER MARKET: REGIONAL SNAPSHOT 120
FIGURE 36 REGIONAL ANALYSIS OF SYNCHRONOUS CONDENSER MARKET, 2021 120
TABLE 54 SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 121
TABLE 55 SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 121
TABLE 56 SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (UNITS) 121
TABLE 57 SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (UNITS) 122
11.2 NORTH AMERICA 122
FIGURE 37 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 123
11.2.1 BY TYPE 123
TABLE 58 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 123
TABLE 59 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 124
11.2.2 BY COOLING TECHNOLOGY 124
TABLE 60 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 124
TABLE 61 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 124
11.2.3 BY STARTING METHOD 125
TABLE 62 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 125
TABLE 63 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 125
11.2.4 BY REACTIVE POWER RATING 125
TABLE 64 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 125
TABLE 65 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 126
11.2.5 BY END USER 126
TABLE 66 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 126
TABLE 67 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 126
11.2.6 BY COUNTRY 127
TABLE 68 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 127
TABLE 69 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 127
11.2.6.1 US 127
11.2.6.1.1 Government-led initiatives to upgrade legacy power infrastructures and phase out coal-based power plants to fuel demand for synchronous condensers 127
FIGURE 38 PLANNED RETIREMENTS OF UTILITY-SCALE ELECTRICITY-GENERATING CAPACITIES IN US, 2022–2030 128
TABLE 70 US: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 128
TABLE 71 US: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 129
11.2.6.2 Canada 129
11.2.6.2.1 Rising investments in renewable energy generation to propel market growth 129
TABLE 72 CANADA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 130
TABLE 73 CANADA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 130
11.3 EUROPE 130
FIGURE 39 EUROPE: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 131
11.3.1 BY TYPE 131
TABLE 74 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 131
TABLE 75 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 132
11.3.2 BY COOLING TECHNOLOGY 132
TABLE 76 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 132
TABLE 77 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 132
11.3.3 BY STARTING METHOD 133
TABLE 78 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 133
TABLE 79 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 133
11.3.4 BY REACTIVE POWER RATING 133
TABLE 80 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 133
TABLE 81 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 134
11.3.5 BY END USER 134
TABLE 82 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 134
TABLE 83 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 134
11.3.6 BY COUNTRY 135
TABLE 84 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2018–2021 (USD MILLION) 135
TABLE 85 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2022–2030 (USD MILLION) 135
11.3.6.1 Denmark 135
11.3.6.1.1 Growing need to stabilize gird transmission to fuel demand for synchronous condensers 135
TABLE 86 DENMARK: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 136
TABLE 87 DENMARK: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 136
11.3.6.2 Italy 136
11.3.6.2.1 Rising integration of renewable sources into grids to propel demand for synchronous condensers 136
TABLE 88 ITALY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 137
TABLE 89 ITALY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 137
11.3.6.3 Germany 137
11.3.6.3.1 Government-led initiatives to replace fossil fuels with renewable sources in power generation mix to drive
market growth 137
TABLE 90 GERMANY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 137
TABLE 91 GERMANY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 138
11.3.6.4 Norway 138
11.3.6.4.1 Rising investments in expansion of HVDC networks to fuel demand for synchronous condensers 138
TABLE 92 NORWAY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 138
TABLE 93 NORWAY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 139
11.3.6.5 Rest of Europe 139
TABLE 94 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 139
TABLE 95 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 139
11.4 SOUTH AMERICA 140
11.4.1 BY TYPE 140
TABLE 96 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 140
TABLE 97 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 140
11.4.2 BY COOLING TECHNOLOGY 141
TABLE 98 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 141
TABLE 99 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 141
11.4.3 BY STARTING METHOD 141
TABLE 100 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 141
TABLE 101 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 142
11.4.4 BY REACTIVE POWER RATING 142
TABLE 102 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 142
TABLE 103 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 142
11.4.5 BY END USER 143
TABLE 104 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 143
TABLE 105 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 143
11.4.6 BY COUNTRY 143
TABLE 106 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 143
TABLE 107 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 144
11.4.6.1 Brazil 144
11.4.6.1.1 Government-led initiatives to develop power infrastructures to fuel demand for synchronous condensers 144
TABLE 108 BRAZIL: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 144
TABLE 109 BRAZIL: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 145
11.4.6.2 Rest of South America 145
TABLE 110 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 145
TABLE 111 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 145
11.5 ASIA PACIFIC 146
FIGURE 40 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 147
11.5.1 BY TYPE 147
TABLE 112 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 147
TABLE 113 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 148
11.5.2 BY COOLING TECHNOLOGY 148
TABLE 114 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 148
TABLE 115 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 148
11.5.3 BY STARTING METHOD 149
TABLE 116 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 149
TABLE 117 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 149
11.5.4 BY REACTIVE POWER RATING 149
TABLE 118 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 149
TABLE 119 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 150
11.5.5 BY END USER 150
TABLE 120 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 150
TABLE 121 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 150
11.5.6 BY COUNTRY 151
TABLE 122 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2018–2021 (USD MILLION) 151
TABLE 123 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2022–2030 (USD MILLION) 151
11.5.6.1 China 151
11.5.6.1.1 Growing need to improve power reliability to fuel demand for synchronous condensers 151
TABLE 124 CHINA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 152
TABLE 125 CHINA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 152
11.5.6.2 Australia 152
11.5.6.2.1 Rising deployment of synchronous condensers in power infrastructures to drive market growth 152
TABLE 126 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 153
TABLE 127 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 153
11.5.6.3 Rest of Asia Pacific 153
TABLE 128 REST OF ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 153
TABLE 129 REST OF ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 154
11.6 MIDDLE EAST & AFRICA 154
11.6.1 BY TYPE 155
TABLE 130 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2018–2021 (USD MILLION) 155
TABLE 131 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2022–2030 (USD MILLION) 155
11.6.2 BY COOLING TECHNOLOGY 155
TABLE 132 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 155
TABLE 133 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 156
11.6.3 BY STARTING METHOD 156
TABLE 134 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY STARTING METHOD, 2018–2021 (USD MILLION) 156
TABLE 135 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY STARTING METHOD, 2022–2030 (USD MILLION) 156
11.6.4 BY REACTIVE POWER RATING 157
TABLE 136 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 157
TABLE 137 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 157
11.6.5 BY END USER 157
TABLE 138 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 157
TABLE 139 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 158
11.6.6 BY COUNTRY 158
TABLE 140 REST OF THE MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 158
TABLE 141 REST OF THE MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 158
11.6.6.1 Kenya 159
11.6.6.1.1 Increasing number of power generation projects to drive market growth 159
TABLE 142 KENYA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 159
TABLE 143 KENYA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 159
11.6.6.2 Rest of Middle East & Africa 160
TABLE 144 REST OF MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 160
TABLE 145 REST OF MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 160
12 COMPETITIVE LANDSCAPE 161
12.1 KEY PLAYER STRATEGIES 161
TABLE 146 OVERVIEW OF KEY STRATEGIES ADOPTED BY TOP MARKET PLAYERS, JANUARY 2017–JUNE 2022 161
12.2 MARKET SHARE ANALYSIS 163
TABLE 147 SYNCHRONOUS CONDENSER MARKET: DEGREE OF COMPETITION 163
FIGURE 41 SYNCHRONOUS CONDENSER MARKET SHARE ANALYSIS, 2021 164
12.3 REVENUE SHARE ANALYSIS OF TOP 5 MARKET PLAYERS 165
FIGURE 42 TOP 5 PLAYERS DOMINATED SYNCHRONOUS CONDENSER MARKET FROM 2017 TO 2021 165
12.4 COMPANY EVALUATION QUADRANT 166
12.4.1 STARS 166
12.4.2 EMERGING LEADERS 166
12.4.3 PERVASIVE PLAYERS 166
12.4.4 PARTICIPANTS 166
FIGURE 43 COMPETITIVE LEADERSHIP MAPPING: SYNCHRONOUS CONDENSER MARKET, 2021 167
12.5 SYNCHRONOUS CONDENSER MARKET: COMPANY FOOTPRINT 168
TABLE 148 TYPE: COMPANY FOOTPRINT 168
TABLE 149 REACTIVE POWER RATING: COMPANY FOOTPRINT 169
TABLE 150 REGION: COMPANY FOOTPRINT 170
TABLE 151 OVERALL COMPANY FOOTPRINT 171
12.6 COMPETITIVE SCENARIO 172
TABLE 152 SYNCHRONOUS CONDENSER MARKET: PRODUCT LAUNCHES,
JANUARY 2017–SEPTEMBER 2021 172
TABLE 153 SYNCHRONOUS CONDENSER MARKET: DEALS, JANUARY 2017–
SEPTEMBER 2021 172
13 COMPANY PROFILES 174
13.1 KEY PLAYERS 174
(Business overview, Products/Solutions/Services offered, Recent Developments, MNM view)*
13.1.1 ABB 174
TABLE 154 ABB: BUSINESS OVERVIEW 174
FIGURE 44 ABB: COMPANY SNAPSHOT, 2021 175
TABLE 155 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED 175
TABLE 156 ABB: PRODUCT LAUNCHES 176
TABLE 157 ABB: DEALS 176
TABLE 158 ABB: OTHERS 177
13.1.2 SIEMENS ENERGY 179
TABLE 159 SIEMENS ENERGY: BUSINESS OVERVIEW 179
FIGURE 45 SIEMENS ENERGY: COMPANY SNAPSHOT, 2021 180
TABLE 160 SIEMENS ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 180
TABLE 161 SIEMENS ENERGY: OTHERS 181
13.1.3 GE 183
TABLE 162 GE: BUSINESS OVERVIEW 183
FIGURE 46 GE: COMPANY SNAPSHOT, 2021 184
TABLE 163 GE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 184
TABLE 164 GE: OTHERS 185
13.1.4 WEG 187
TABLE 165 WEG: BUSINESS OVERVIEW 187
FIGURE 47 WEG: COMPANY SNAPSHOT, 2021 188
TABLE 166 WEG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 188
TABLE 167 WEG: DEALS 189
TABLE 168 WEG: OTHERS 189
13.1.5 EATON 191
TABLE 169 EATON: BUSINESS OVERVIEW 191
FIGURE 48 EATON: COMPANY SNAPSHOT, 2021 192
TABLE 170 EATON: PRODUCTS/SOLUTIONS/SERVICES OFFERED 192
13.1.6 ANDRITZ GROUP 194
TABLE 171 ANDRITZ GROUP: BUSINESS OVERVIEW 194
FIGURE 49 ANDRITZ GROUP: COMPANY SNAPSHOT, 2021 195
TABLE 172 ANDRITZ GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 196
TABLE 173 ANDRITZ GROUP: OTHERS 196
13.1.7 ANSALDO ENERGIA 198
TABLE 174 ANSALDO ENERGIA: BUSINESS OVERVIEW 198
FIGURE 50 ANSALDO ENERGIA: COMPANY SNAPSHOT, 2021 199
TABLE 175 ANSALDO ENERGIA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 200
TABLE 176 ANSALDO ENERGIA: OTHERS 201
13.1.8 MITSUBISHI HEAVY INDUSTRIES 202
TABLE 177 MITSUBISHI HEAVY INDUSTRIES: BUSINESS OVERVIEW 202
FIGURE 51 MITSUBISHI HEAVY INDUSTRIES: COMPANY SNAPSHOT, 2020 203
TABLE 178 MITSUBISHI HEAVY INDUSTRIES: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 203
TABLE 179 MITSUBISHI HEAVY INDUSTRIES: OTHERS 204
13.1.9 VOITH GROUP 206
TABLE 180 VOITH GROUP: BUSINESS OVERVIEW 206
FIGURE 52 VOITH GROUP: COMPANY SNAPSHOT, 2021 207
TABLE 181 VOITH GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 207
TABLE 182 VOITH GROUP: OTHERS 208
13.1.10 FUJI ELECTRIC 210
TABLE 183 FUJI ELECTRIC: BUSINESS OVERVIEW 210
FIGURE 53 FUJI ELECTRIC: COMPANY SNAPSHOT, 2020 211
TABLE 184 FUJI ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 212
13.1.11 BHARAT HEAVY ELECTRICALS LIMITED (BHEL) 213
TABLE 185 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): BUSINESS OVERVIEW 213
FIGURE 54 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): COMPANY SNAPSHOT, 2021 214
TABLE 186 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): PRODUCTS/SOLUTIONS/ SERVICES OFFERED 214
13.1.12 IDEAL ELECTRIC POWER (HYUNDAI IDEAL ELECTRIC CO.) 215
TABLE 187 IDEAL ELECTRIC POWER: BUSINESS OVERVIEW 215
TABLE 188 IDEAL ELECTRIC POWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 215
13.1.13 POWER SYSTEMS & CONTROLS 216
TABLE 189 POWER SYSTEMS & CONTROLS (PS&C): BUSINESS OVERVIEW 216
TABLE 190 POWER SYSTEMS & CONTROLS (PS&C): PRODUCTS/SOLUTIONS/
SERVICES OFFERED 216
13.1.14 BRUSH GROUP 217
TABLE 191 BRUSH GROUP: BUSINESS OVERVIEW 217
TABLE 192 BRUSH GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 217
13.1.15 ELECTROMECHANICAL ENGINEERING ASSOCIATES 218
TABLE 193 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): BUSINESS OVERVIEW 218
TABLE 194 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): PRODUCTS/SOLUTIONS/SERVICES OFFERED 218
TABLE 195 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): OTHERS 219
13.1.16 ANHUI ZHONGDIAN (ZDDQ) ELECTRIC CO., LTD. 220
TABLE 196 ANHUI ZHONGDIAN ELECTRIC CO., LTD.: BUSINESS OVERVIEW 220
TABLE 197 ANHUI ZHONGDIAN ELECTRIC CO., LTD.: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 220
13.1.17 SHANGHAI ELECTRIC 221
TABLE 198 SHANGHAI ELECTRIC: BUSINESS OVERVIEW 221
TABLE 199 SHANGHAI ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 221
13.1.18 INGETEAM 222
TABLE 200 INGETEAM: BUSINESS OVERVIEW 222
TABLE 201 INGETEAM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 222
13.1.19 DOOSAN ŠKODA POWER 223
TABLE 202 DOOSAN ŠKODA POWER: BUSINESS OVERVIEW 223
TABLE 203 DOOSAN ŠKODA POWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 223
13.1.20 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD. 224
TABLE 204 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD.:
BUSINESS OVERVIEW 224
TABLE 205 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 224
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
14 APPENDIX 225
14.1 INSIGHTS FROM INDUSTRY EXPERTS 225
14.2 DISCUSSION GUIDE 226
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 231
14.4 CUSTOMIZATION OPTIONS 233
14.5 RELATED REPORTS 233
14.6 AUTHOR DETAILS 234
[Report Description]
グローバル同期コンデンサ市場は2022年の6億6100万ドルから2030年には8億1100万ドルに成長し、審査期間中に2.6%のCAGRを記録するものと予想される。 送電·配電網のグリッド運営維持のための発展と再生可能エネルギー容量の拡大に対する投資の増加が同期コンデンサ市場の成長を牽引する核心要因だ。新しい同期コンデンサ:タイプ別では最大のセグメント同期コンデンサ市場になると予想されます。
タイプセグメントは、NewSynchronousCondenserとRefurbedSynchronousCondenserに分類されます。 新しい同期コンデンサは、水素、空気、水で冷却できる2極または4極（2極対）で構成されています。 世界的にHVDCネットワークが拡大するにつれ、カナダ、ブラジル、イタリアなどの国々は伝送システムの安定性と強度を安定化し改善するために新しい同期コンデンサーを配置した。 また、電圧変動を制御し、反応性電源をサポートするためにも導入されています。
冷却技術により水素冷却同期凝縮器セグメントが最速セグメントとして浮上すると予想される。
同期コンデンサ市場は水素冷却同期コンデンサ、空気冷却同期コンデンサ、水冷却同期コンデンサに細分化された。 水素冷却同期式凝縮器は冷却特性が優れているため、水素ガスを冷却材として使用する。 低密度、高比熱、高熱伝導性を示す。 水素冷却同期コンデンサは空冷同期コンデンサより熱伝達能力が1.5倍高く、密度が14分の1水準で摩擦損失が少なく冷却速度が速い。 水素冷却同期凝縮器は同じ温度上昇でより高い負荷で作動でき、空冷同期凝縮器より風量損失が少ない。
北米が予想期間中に最も大きな市場規模を占めるものと予想される。
北米市場は、予想期間中に最大の市場になると予想されています。 北米には老朽化した電力インフラがあり、停電のリスクが高まる可能性があります。 したがって、この地域の各国政府はグリッドの信頼性と復元力を向上させ、スマート電気ネットワークを開発するために老朽化したインフラのアップグレードと交換に積極的に注力している。 北米の電力部門は現在、エネルギー効率目標の達成、連邦炭素政策の遵守、グリッド内のさまざまな分散発電源の統合といった課題に直面しています。
プライマリの内訳:
様々な主要産業の参加者、主題分野の専門家、主要市場関係者のC級役員、業界コンサルタントなどを対象に深層面接を実施し、重要な質的·量的情報を入手·検証し、今後の市場展望を評価してきた。 主なインタビューの配信は次のとおりです。
会社のタイプ別: 階層1~65%、階層2~24%、および階層3~11%
指定別:Cレベル-30%、ディレクターレベル-25%、その他-45%
地域別: 北米-33%、ヨーロッパ-27%、南米-20%、アジア太平洋-中央アメリカ-8%
注:その他には、製品エンジニア、製品スペシャリスト、エンジニアリングリーダーが含まれます。
注意:企業の階層は、2017年時点での総収益に基づいて定義されています。 階層1:>10億ドル、階層2:5億ドルから10億ドル、階層3:5億ドル未満
SynchronousCondenser市場は、地域的に幅広い存在感を持ついくつかの主要なプレーヤーによって支配されています。 シンクロナイズドコンデンサー市場の主役は、ABB（スイス）、シーメンス（ドイツ）、GE（米国）、イートン（アイルランド）、ヴォイスグループ（ドイツ）、富士電機（日本）、WEG（ブラジル）だ。
調査対象範囲:
このレポートでは、同期コンデンサ市場、冷却テクノロジー、反応性電力定格、タイプ、開始方法、エンドユーザー、および地域の定義、説明、および予測を行います。 また、市場の詳細な質的·定量的分析も提供する。 このレポートでは、主要な市場の推進要因、制約、機会、および課題について包括的にレビューします。 また、市場のさまざまな重要な側面もカバーしています。 これには、同期コンデンサ市場の競争状況、市場力学、市場推定値、および将来の動向の分析が含まれます。
レポート購入の主なメリット
1.この報告書は、同期コンデンサ市場の主要市場を特定し、対処しており、ケーブル製造業者が需要の増加を検討するのに役立つだろう。
2.このレポートは、システムプロバイダが市場の動向を理解し、ドライバ、制約、機会、および課題に関する洞察を提供するのに役立ちます。
3.このレポートは、主要な参加者が競合他社の戦略をよりよく理解し、より良い戦略的意思決定を行うのに役立ちます。
1 INTRODUCTION 31
1.1 STUDY OBJECTIVES 31
1.2 MARKET DEFINITION 32
1.3 INCLUSIONS AND EXCLUSIONS 32
1.3.1 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY: INCLUSIONS AND EXCLUSIONS 32
1.3.2 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING: INCLUSIONS AND EXCLUSIONS 33
1.3.3 SYNCHRONOUS CONDENSER MARKET, BY END USER: INCLUSIONS AND EXCLUSIONS 33
1.4 MARKET SCOPE 33
1.4.1 SYNCHRONOUS CONDENSER MARKET: SEGMENTATION 33
1.4.2 SYNCHRONOUS CONDENSER MARKET: REGIONAL SCOPE 34
1.5 YEARS CONSIDERED 34
1.6 CURRENCY CONSIDERED 35
1.7 LIMITATIONS 35
1.8 STAKEHOLDERS 35
1.9 SUMMARY OF CHANGES 36
2 RESEARCH METHODOLOGY 37
2.1 RESEARCH DATA 37
FIGURE 1 SYNCHRONOUS CONDENSER MARKET: RESEARCH DESIGN 38
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 39
2.2.1 SECONDARY DATA 40
2.2.1.1 Key data from secondary sources 40
2.2.2 PRIMARY DATA 41
2.2.2.1 Key data from primary sources 41
2.2.2.2 Breakdown of primaries 42
2.3 SCOPE OF STUDY 42
2.4 DEMAND-SIDE ANALYSIS 43
FIGURE 2 PARAMETERS CONSIDERED WHILE ASSESSING DEMAND FOR SYNCHRONOUS CONDENSERS 43
2.4.1 DEMAND-SIDE ANALYSIS: BOTTOM-UP APPROACH 44
FIGURE 3 SYNCHRONOUS CONDENSER MARKET: INDUSTRY AND REGION-/COUNTRY-WISE ANALYSIS 44
2.4.1.1 Demand-side analysis of synchronous condenser market 44
2.4.1.2 Assumptions while calculating demand-side market size 45
2.4.2 SUPPLY-SIDE ANALYSIS 45
FIGURE 4 CALCULATION OF REVENUES OF MAJOR PLAYERS FROM SALES OF SYNCHRONOUS CONDENSERS TO IDENTIFY GLOBAL MARKET SIZE 45
2.4.2.1 Supply-side analysis of synchronous condenser market 46
FIGURE 5 KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF SYNCHRONOUS CONDENSERS 46
2.4.2.2 Assumptions while calculating supply-side market size 46
FIGURE 6 COMPANY REVENUE ANALYSIS, 2021 47
2.4.3 FORECAST 47
3 EXECUTIVE SUMMARY 48
TABLE 1 SYNCHRONOUS CONDENSER MARKET: SNAPSHOT 48
FIGURE 7 NORTH AMERICA DOMINATED SYNCHRONOUS CONDENSER MARKET
IN 2021 49
FIGURE 8 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT TO DOMINATE MARKET, BY COOLING TECHNOLOGY, DURING FORECAST PERIOD 50
FIGURE 9 STATIC FREQUENCY CONVERTER TO BE FASTEST-GROWING SEGMENT OF SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, DURING FORECAST PERIOD 50
FIGURE 10 ABOVE 200 MVAR SEGMENT TO DOMINATE SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, DURING FORECAST PERIOD 51
FIGURE 11 ELECTRICAL UTILITIES SEGMENT TO DOMINATE SYNCHRONOUS CONDENSER MARKET, BY END USER, DURING FORECAST PERIOD 51
FIGURE 12 NEW SYNCHRONOUS CONDENSER SEGMENT TO LEAD MARKET, BY TYPE, DURING FORECAST PERIOD 52
4 PREMIUM INSIGHTS 53
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SYNCHRONOUS CONDENSER MARKET 53
FIGURE 13 RISING INVESTMENTS IN DEVELOPING POWER INFRASTRUCTURES AND INTEGRATION OF RENEWABLE SOURCES INTO GRIDS TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS DURING FORECAST PERIOD 53
4.2 SYNCHRONOUS CONDENSER MARKET, BY REGION 54
FIGURE 14 NORTH AMERICAN SYNCHRONOUS CONDENSER MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 54
4.3 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE AND COUNTRY, 2021 54
FIGURE 15 REFURBISHED SYNCHRONOUS CONDENSER SEGMENT AND US HELD LARGER SHARES OF NORTH AMERICAN SYNCHRONOUS CONDENSER MARKET IN 2021 54
4.4 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING 55
FIGURE 16 ABOVE 200 MVAR SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE
BY 2030 55
4.5 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 55
FIGURE 17 STATIC FREQUENCY CONVERTER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE BY 2030 55
4.6 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY 56
FIGURE 18 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE BY 2030 56
4.7 SYNCHRONOUS CONDENSER MARKET, BY TYPE 56
FIGURE 19 NEW SYNCHRONOUS CONDENSER SEGMENT TO DOMINATE MARKET
BY 2030 56
5 MARKET OVERVIEW 57
5.1 INTRODUCTION 57
5.2 MARKET DYNAMICS 57
FIGURE 20 SYNCHRONOUS CONDENSER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 57
5.2.1 DRIVERS 58
5.2.1.1 Growing use of renewable and sustainable energy sources and increasing investments in capacity additions 58
FIGURE 21 RENEWABLE ELECTRICITY CAPACITY ADDITION, 2014–2021 59
FIGURE 22 INSTALLED RENEWABLE ELECTRICITY GENERATING CAPACITY, 2020–2050 59
5.2.1.2 Growing requirement for power factor correction (PFC) and increasing investments in developing transmission and distribution (T&D) infrastructures 59
FIGURE 23 INVESTMENTS IN ELECTRICITY NETWORKS, BY REGION (2015–2021) 60
TABLE 2 TRANSMISSION AND DISTRIBUTION (T&D) INFRASTRUCTURE
EXPANSION PLANS 61
5.2.2 RESTRAINTS 62
5.2.2.1 High manufacturing and maintenance costs 62
5.2.3 OPPORTUNITIES 62
5.2.3.1 Conversion of synchronous generators into synchronous condensers 62
5.2.3.2 Rising adoption of high-voltage direct current (HVDC) systems 62
5.2.4 CHALLENGES 63
5.2.4.1 Availability of low-cost substitutes 63
TABLE 3 COMPARISON BETWEEN SYNCHRONOUS CONDENSER AND ITS SUBSTITUTES 63
5.2.4.2 Shortage of components/parts used in manufacturing of synchronous condensers due to COVID-19 64
TABLE 4 CHANGE IN PRICES OF COMMODITIES, 2019–2020 64
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 64
5.3.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR SYNCHRONOUS CONDENSER MANUFACTURERS 64
FIGURE 24 REVENUE SHIFT FOR SYNCHRONOUS CONDENSER MANUFACTURERS 65
5.4 MARKET MAP 66
FIGURE 25 SYNCHRONOUS CONDENSER MARKET: MARKET MAP 66
TABLE 5 SYNCHRONOUS CONDENSER MARKET: ROLE IN ECOSYSTEM 66
5.5 VALUE CHAIN ANALYSIS 68
FIGURE 26 SYNCHRONOUS CONDENSER MARKET: VALUE CHAIN ANALYSIS 68
5.5.1 RAW MATERIAL PROVIDERS/SUPPLIERS 68
5.5.2 COMPONENT MANUFACTURERS 69
5.5.3 SYNCHRONOUS CONDENSER MANUFACTURERS/ASSEMBLERS/
SERVICE PROVIDERS 69
5.5.4 DISTRIBUTORS/END USERS 69
5.5.5 POST-SALES SERVICE PROVIDERS 69
5.6 CODES AND REGULATIONS RELATED TO SYNCHRONOUS CONDENSER MARKET 69
TABLE 6 SYNCHRONOUS CONDENSER MARKET: CODES AND REGULATIONS 69
5.7 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 71
TABLE 7 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 71
TABLE 8 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 73
TABLE 9 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 74
TABLE 10 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 76
TABLE 11 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 76
5.8 INNOVATIONS AND PATENT REGISTRATIONS 77
TABLE 12 SYNCHRONOUS CONDENSER MARKET: INNOVATIONS AND PATENT REGISTRATIONS, FEBRUARY 2016–NOVEMBER 2021 77
5.9 PORTER’S FIVE FORCES ANALYSIS 82
FIGURE 27 PORTER’S FIVE FORCES ANALYSIS 82
TABLE 13 SYNCHRONOUS CONDENSER MARKET: PORTER’S FIVE FORCES ANALYSIS 82
5.9.1 THREAT OF SUBSTITUTES 83
5.9.2 BARGAINING POWER OF SUPPLIERS 83
5.9.3 BARGAINING POWER OF BUYERS 83
5.9.4 THREAT OF NEW ENTRANTS 83
5.9.5 INTENSITY OF COMPETITIVE RIVALRY 84
5.10 CASE STUDY ANALYSIS 84
5.10.1 USE OF GE’S SYNCHRONOUS CONDENSERS IN NORTHWEST VERMONT RELIABILITY PROJECT 84
5.10.1.1 Problem statement 84
5.10.1.2 Solution 84
5.10.2 REFURBISHMENT OF SYNCHRONOUS GENERATORS TO SYNCHRONOUS CONDENSERS 85
5.10.2.1 Problem statement 85
5.10.2.2 Solution 85
5.10.3 USE OF TERNA’S SYNCHRONOUS CONDENSERS TO STABILIZE GRID IN SARDINIA REGION 85
5.10.3.1 Problem statement 85
5.10.3.2 Solution 85
5.11 PRICING ANALYSIS 86
TABLE 14 AVERAGE SELLING PRICE OF SYNCHRONOUS CONDENSERS 86
5.12 TECHNOLOGY ANALYSIS 86
5.12.1 HIGH-TEMPERATURE SUPERCONDUCTOR (HTS) DYNAMIC SYNCHRONOUS CONDENSER 86
5.12.2 MODE OF OPERATION (APPLICATION) 86
5.12.2.1 Standalone synchronous condenser 87
5.12.2.2 Power plants with synchronous condensing capacity 87
5.12.2.3 Retrofitting of existing and decommissioned power plants 87
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 88
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 88
FIGURE 28 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER 88
TABLE 15 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER (%) 88
5.13.2 BUYING CRITERIA 88
FIGURE 29 KEY BUYING CRITERIA FOR END USERS 88
TABLE 16 KEY BUYING CRITERIA, BY END USER 89
5.14 KEY CONFERENCES AND EVENTS, 2022–2024 89
TABLE 17 SYNCHRONOUS CONDENSER MARKET: DETAILED LIST OF CONFERENCES AND EVENTS 89
6 SYNCHRONOUS CONDENSER MARKET, BY TYPE 91
6.1 INTRODUCTION 92
FIGURE 30 NEW SYNCHRONOUS CONDENSER SEGMENT ACCOUNTED FOR LARGER MARKET SHARE IN 2021 92
TABLE 18 SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2018–2021 (USD MILLION) 92
TABLE 19 SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2022–2030 (USD MILLION) 92
6.2 NEW SYNCHRONOUS CONDENSER 93
6.2.1 EXPANSION OF HVDC NETWORKS TO INCREASE INSTALLATION OF NEW SYNCHRONOUS CONDENSERS 93
TABLE 20 NEW SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 93
TABLE 21 NEW SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 93
6.3 REFURBISHED SYNCHRONOUS CONDENSER 94
6.3.1 LOW COST OF REFURBISHED SYNCHRONOUS CONDENSERS TO
FUEL DEMAND 94
TABLE 22 REFURBISHED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 94
TABLE 23 REFURBISHED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 94
7 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY 95
7.1 INTRODUCTION 96
FIGURE 31 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2021 96
TABLE 24 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY,
2018–2021 (USD MILLION) 96
TABLE 25 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY,
2022–2030 (USD MILLION) 97
7.2 HYDROGEN-COOLED SYNCHRONOUS CONDENSER 97
7.2.1 LOW WINDAGE LOSS AND HIGH THERMAL CONDUCTIVITY FEATURES OF HYDROGEN-COOLED SYNCHRONOUS CONDENSERS TO FUEL DEMAND 97
TABLE 26 HYDROGEN-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 98
TABLE 27 HYDROGEN-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 98
7.3 AIR-COOLED SYNCHRONOUS CONDENSER 98
7.3.1 EXCELLENT COOLING FEATURE OF AIR-COOLED SYNCHRONOUS CONDENSERS TO PROPEL DEMAND 98
TABLE 28 AIR-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 99
TABLE 29 AIR-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 99
7.4 WATER-COOLED SYNCHRONOUS CONDENSER 100
7.4.1 HIGHER EFFICIENCY OF WATER-COOLED SYNCHRONOUS CONDENSERS COMPARED TO HYDROGEN-COOLED CONDENSERS TO FUEL DEMAND 100
TABLE 30 WATER-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 100
TABLE 31 WATER-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 100
8 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 101
8.1 INTRODUCTION 102
FIGURE 32 STATIC FREQUENCY CONVERTER SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2021 102
TABLE 32 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD,
2018–2021 (USD MILLION) 102
TABLE 33 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD,
2022–2030 (USD MILLION) 103
8.2 STATIC FREQUENCY CONVERTER 103
8.2.1 LOW INSTALLATION COST OF STATIC FREQUENCY CONVERTER TO
FUEL DEMAND 103
TABLE 34 STATIC FREQUENCY CONVERTER: SYNCHRONOUS CONDENSER MARKET,
BY REGION, 2018–2021 (USD MILLION) 103
TABLE 35 STATIC FREQUENCY CONVERTER: SYNCHRONOUS CONDENSER MARKET,
BY REGION, 2022–2030 (USD MILLION) 104
8.3 PONY MOTOR 104
8.3.1 LOW COST AND ABILITY TO START LOW-CAPACITY SYNCHRONOUS CONDENSERS (BELOW 50 MVAR) TO FUEL DEMAND FOR PONY MOTORS 104
TABLE 36 PONY MOTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 104
TABLE 37 PONY MOTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 105
8.4 OTHERS 105
TABLE 38 OTHERS: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 105
TABLE 39 OTHERS: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 106
9 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING 107
9.1 INTRODUCTION 108
FIGURE 33 ABOVE 200 MVAR SEGMENT ACCOUNTED FOR LARGEST MARKET
SHARE IN 2021 108
TABLE 40 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING,
2018–2021 (USD MILLION) 108
TABLE 41 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING,
2022–2030 (USD MILLION) 109
9.2 UP TO 100 MVAR 109
9.2.1 RISING USE OF AIR- AND WATER-COOLED SYNCHRONOUS CONDENSERS
TO FUEL MARKET GROWTH 109
TABLE 42 UP TO 100 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 110
TABLE 43 UP TO 100 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 110
9.3 101–200 MVAR 110
9.3.1 GROWING NEED TO ENSURE STABILITY OF TRANSMISSION GRIDS TO FUEL DEMAND FOR 101–200 MVAR SYNCHRONOUS CONDENSERS 110
TABLE 44 101–200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 111
TABLE 45 101–200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 111
9.4 ABOVE 200 MVAR 112
9.4.1 RISING ADOPTION OF LARGE-SIZED HYDROGEN-COOLED SYNCHRONOUS CONDENSERS TO DRIVE MARKET GROWTH 112
TABLE 46 ABOVE 200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 112
TABLE 47 ABOVE 200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 112
10 SYNCHRONOUS CONDENSER MARKET, BY END USER 114
10.1 INTRODUCTION 115
FIGURE 34 ELECTRICAL UTILITIES SEGMENT ACCOUNTED FOR LARGER MARKET
SHARE IN 2021 115
TABLE 48 SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 115
TABLE 49 SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 116
10.2 ELECTRICAL UTILITIES 116
10.2.1 RISING NEED TO IMPROVE GRID STABILITY TO BOOST MARKET GROWTH 116
TABLE 50 ELECTRICAL UTILITIES: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 117
TABLE 51 ELECTRICAL UTILITIES: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 117
10.3 INDUSTRIAL SECTOR 117
10.3.1 INCREASING NEED TO PERFORM POWER FACTOR CORRECTION OF INDUSTRIAL LOADS TO FUEL DEMAND FOR SYNCHRONOUS CONDENSERS 117
TABLE 52 INDUSTRIAL SECTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 118
TABLE 53 INDUSTRIAL SECTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 118
11 SYNCHRONOUS CONDENSER MARKET, BY REGION 119
11.1 INTRODUCTION 120
FIGURE 35 SYNCHRONOUS CONDENSER MARKET: REGIONAL SNAPSHOT 120
FIGURE 36 REGIONAL ANALYSIS OF SYNCHRONOUS CONDENSER MARKET, 2021 120
TABLE 54 SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 121
TABLE 55 SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 121
TABLE 56 SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (UNITS) 121
TABLE 57 SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (UNITS) 122
11.2 NORTH AMERICA 122
FIGURE 37 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 123
11.2.1 BY TYPE 123
TABLE 58 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 123
TABLE 59 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 124
11.2.2 BY COOLING TECHNOLOGY 124
TABLE 60 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 124
TABLE 61 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 124
11.2.3 BY STARTING METHOD 125
TABLE 62 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 125
TABLE 63 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 125
11.2.4 BY REACTIVE POWER RATING 125
TABLE 64 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 125
TABLE 65 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 126
11.2.5 BY END USER 126
TABLE 66 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 126
TABLE 67 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 126
11.2.6 BY COUNTRY 127
TABLE 68 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 127
TABLE 69 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 127
11.2.6.1 US 127
11.2.6.1.1 Government-led initiatives to upgrade legacy power infrastructures and phase out coal-based power plants to fuel demand for synchronous condensers 127
FIGURE 38 PLANNED RETIREMENTS OF UTILITY-SCALE ELECTRICITY-GENERATING CAPACITIES IN US, 2022–2030 128
TABLE 70 US: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 128
TABLE 71 US: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 129
11.2.6.2 Canada 129
11.2.6.2.1 Rising investments in renewable energy generation to propel market growth 129
TABLE 72 CANADA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 130
TABLE 73 CANADA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 130
11.3 EUROPE 130
FIGURE 39 EUROPE: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 131
11.3.1 BY TYPE 131
TABLE 74 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 131
TABLE 75 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 132
11.3.2 BY COOLING TECHNOLOGY 132
TABLE 76 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 132
TABLE 77 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 132
11.3.3 BY STARTING METHOD 133
TABLE 78 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 133
TABLE 79 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 133
11.3.4 BY REACTIVE POWER RATING 133
TABLE 80 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 133
TABLE 81 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 134
11.3.5 BY END USER 134
TABLE 82 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 134
TABLE 83 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 134
11.3.6 BY COUNTRY 135
TABLE 84 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2018–2021 (USD MILLION) 135
TABLE 85 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2022–2030 (USD MILLION) 135
11.3.6.1 Denmark 135
11.3.6.1.1 Growing need to stabilize gird transmission to fuel demand for synchronous condensers 135
TABLE 86 DENMARK: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 136
TABLE 87 DENMARK: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 136
11.3.6.2 Italy 136
11.3.6.2.1 Rising integration of renewable sources into grids to propel demand for synchronous condensers 136
TABLE 88 ITALY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 137
TABLE 89 ITALY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 137
11.3.6.3 Germany 137
11.3.6.3.1 Government-led initiatives to replace fossil fuels with renewable sources in power generation mix to drive
market growth 137
TABLE 90 GERMANY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 137
TABLE 91 GERMANY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 138
11.3.6.4 Norway 138
11.3.6.4.1 Rising investments in expansion of HVDC networks to fuel demand for synchronous condensers 138
TABLE 92 NORWAY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 138
TABLE 93 NORWAY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 139
11.3.6.5 Rest of Europe 139
TABLE 94 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 139
TABLE 95 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 139
11.4 SOUTH AMERICA 140
11.4.1 BY TYPE 140
TABLE 96 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 140
TABLE 97 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 140
11.4.2 BY COOLING TECHNOLOGY 141
TABLE 98 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 141
TABLE 99 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 141
11.4.3 BY STARTING METHOD 141
TABLE 100 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 141
TABLE 101 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 142
11.4.4 BY REACTIVE POWER RATING 142
TABLE 102 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 142
TABLE 103 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 142
11.4.5 BY END USER 143
TABLE 104 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 143
TABLE 105 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 143
11.4.6 BY COUNTRY 143
TABLE 106 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 143
TABLE 107 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 144
11.4.6.1 Brazil 144
11.4.6.1.1 Government-led initiatives to develop power infrastructures to fuel demand for synchronous condensers 144
TABLE 108 BRAZIL: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 144
TABLE 109 BRAZIL: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 145
11.4.6.2 Rest of South America 145
TABLE 110 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 145
TABLE 111 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 145
11.5 ASIA PACIFIC 146
FIGURE 40 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 147
11.5.1 BY TYPE 147
TABLE 112 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 147
TABLE 113 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 148
11.5.2 BY COOLING TECHNOLOGY 148
TABLE 114 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 148
TABLE 115 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 148
11.5.3 BY STARTING METHOD 149
TABLE 116 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 149
TABLE 117 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 149
11.5.4 BY REACTIVE POWER RATING 149
TABLE 118 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 149
TABLE 119 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 150
11.5.5 BY END USER 150
TABLE 120 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 150
TABLE 121 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 150
11.5.6 BY COUNTRY 151
TABLE 122 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2018–2021 (USD MILLION) 151
TABLE 123 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2022–2030 (USD MILLION) 151
11.5.6.1 China 151
11.5.6.1.1 Growing need to improve power reliability to fuel demand for synchronous condensers 151
TABLE 124 CHINA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 152
TABLE 125 CHINA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 152
11.5.6.2 Australia 152
11.5.6.2.1 Rising deployment of synchronous condensers in power infrastructures to drive market growth 152
TABLE 126 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 153
TABLE 127 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 153
11.5.6.3 Rest of Asia Pacific 153
TABLE 128 REST OF ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 153
TABLE 129 REST OF ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 154
11.6 MIDDLE EAST & AFRICA 154
11.6.1 BY TYPE 155
TABLE 130 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2018–2021 (USD MILLION) 155
TABLE 131 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2022–2030 (USD MILLION) 155
11.6.2 BY COOLING TECHNOLOGY 155
TABLE 132 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 155
TABLE 133 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 156
11.6.3 BY STARTING METHOD 156
TABLE 134 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY STARTING METHOD, 2018–2021 (USD MILLION) 156
TABLE 135 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY STARTING METHOD, 2022–2030 (USD MILLION) 156
11.6.4 BY REACTIVE POWER RATING 157
TABLE 136 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 157
TABLE 137 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 157
11.6.5 BY END USER 157
TABLE 138 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 157
TABLE 139 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 158
11.6.6 BY COUNTRY 158
TABLE 140 REST OF THE MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 158
TABLE 141 REST OF THE MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 158
11.6.6.1 Kenya 159
11.6.6.1.1 Increasing number of power generation projects to drive market growth 159
TABLE 142 KENYA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 159
TABLE 143 KENYA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 159
11.6.6.2 Rest of Middle East & Africa 160
TABLE 144 REST OF MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 160
TABLE 145 REST OF MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 160
12 COMPETITIVE LANDSCAPE 161
12.1 KEY PLAYER STRATEGIES 161
TABLE 146 OVERVIEW OF KEY STRATEGIES ADOPTED BY TOP MARKET PLAYERS, JANUARY 2017–JUNE 2022 161
12.2 MARKET SHARE ANALYSIS 163
TABLE 147 SYNCHRONOUS CONDENSER MARKET: DEGREE OF COMPETITION 163
FIGURE 41 SYNCHRONOUS CONDENSER MARKET SHARE ANALYSIS, 2021 164
12.3 REVENUE SHARE ANALYSIS OF TOP 5 MARKET PLAYERS 165
FIGURE 42 TOP 5 PLAYERS DOMINATED SYNCHRONOUS CONDENSER MARKET FROM 2017 TO 2021 165
12.4 COMPANY EVALUATION QUADRANT 166
12.4.1 STARS 166
12.4.2 EMERGING LEADERS 166
12.4.3 PERVASIVE PLAYERS 166
12.4.4 PARTICIPANTS 166
FIGURE 43 COMPETITIVE LEADERSHIP MAPPING: SYNCHRONOUS CONDENSER MARKET, 2021 167
12.5 SYNCHRONOUS CONDENSER MARKET: COMPANY FOOTPRINT 168
TABLE 148 TYPE: COMPANY FOOTPRINT 168
TABLE 149 REACTIVE POWER RATING: COMPANY FOOTPRINT 169
TABLE 150 REGION: COMPANY FOOTPRINT 170
TABLE 151 OVERALL COMPANY FOOTPRINT 171
12.6 COMPETITIVE SCENARIO 172
TABLE 152 SYNCHRONOUS CONDENSER MARKET: PRODUCT LAUNCHES,
JANUARY 2017–SEPTEMBER 2021 172
TABLE 153 SYNCHRONOUS CONDENSER MARKET: DEALS, JANUARY 2017–
SEPTEMBER 2021 172
13 COMPANY PROFILES 174
13.1 KEY PLAYERS 174
(Business overview, Products/Solutions/Services offered, Recent Developments, MNM view)*
13.1.1 ABB 174
TABLE 154 ABB: BUSINESS OVERVIEW 174
FIGURE 44 ABB: COMPANY SNAPSHOT, 2021 175
TABLE 155 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED 175
TABLE 156 ABB: PRODUCT LAUNCHES 176
TABLE 157 ABB: DEALS 176
TABLE 158 ABB: OTHERS 177
13.1.2 SIEMENS ENERGY 179
TABLE 159 SIEMENS ENERGY: BUSINESS OVERVIEW 179
FIGURE 45 SIEMENS ENERGY: COMPANY SNAPSHOT, 2021 180
TABLE 160 SIEMENS ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 180
TABLE 161 SIEMENS ENERGY: OTHERS 181
13.1.3 GE 183
TABLE 162 GE: BUSINESS OVERVIEW 183
FIGURE 46 GE: COMPANY SNAPSHOT, 2021 184
TABLE 163 GE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 184
TABLE 164 GE: OTHERS 185
13.1.4 WEG 187
TABLE 165 WEG: BUSINESS OVERVIEW 187
FIGURE 47 WEG: COMPANY SNAPSHOT, 2021 188
TABLE 166 WEG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 188
TABLE 167 WEG: DEALS 189
TABLE 168 WEG: OTHERS 189
13.1.5 EATON 191
TABLE 169 EATON: BUSINESS OVERVIEW 191
FIGURE 48 EATON: COMPANY SNAPSHOT, 2021 192
TABLE 170 EATON: PRODUCTS/SOLUTIONS/SERVICES OFFERED 192
13.1.6 ANDRITZ GROUP 194
TABLE 171 ANDRITZ GROUP: BUSINESS OVERVIEW 194
FIGURE 49 ANDRITZ GROUP: COMPANY SNAPSHOT, 2021 195
TABLE 172 ANDRITZ GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 196
TABLE 173 ANDRITZ GROUP: OTHERS 196
13.1.7 ANSALDO ENERGIA 198
TABLE 174 ANSALDO ENERGIA: BUSINESS OVERVIEW 198
FIGURE 50 ANSALDO ENERGIA: COMPANY SNAPSHOT, 2021 199
TABLE 175 ANSALDO ENERGIA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 200
TABLE 176 ANSALDO ENERGIA: OTHERS 201
13.1.8 MITSUBISHI HEAVY INDUSTRIES 202
TABLE 177 MITSUBISHI HEAVY INDUSTRIES: BUSINESS OVERVIEW 202
FIGURE 51 MITSUBISHI HEAVY INDUSTRIES: COMPANY SNAPSHOT, 2020 203
TABLE 178 MITSUBISHI HEAVY INDUSTRIES: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 203
TABLE 179 MITSUBISHI HEAVY INDUSTRIES: OTHERS 204
13.1.9 VOITH GROUP 206
TABLE 180 VOITH GROUP: BUSINESS OVERVIEW 206
FIGURE 52 VOITH GROUP: COMPANY SNAPSHOT, 2021 207
TABLE 181 VOITH GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 207
TABLE 182 VOITH GROUP: OTHERS 208
13.1.10 FUJI ELECTRIC 210
TABLE 183 FUJI ELECTRIC: BUSINESS OVERVIEW 210
FIGURE 53 FUJI ELECTRIC: COMPANY SNAPSHOT, 2020 211
TABLE 184 FUJI ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 212
13.1.11 BHARAT HEAVY ELECTRICALS LIMITED (BHEL) 213
TABLE 185 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): BUSINESS OVERVIEW 213
FIGURE 54 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): COMPANY SNAPSHOT, 2021 214
TABLE 186 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): PRODUCTS/SOLUTIONS/ SERVICES OFFERED 214
13.1.12 IDEAL ELECTRIC POWER (HYUNDAI IDEAL ELECTRIC CO.) 215
TABLE 187 IDEAL ELECTRIC POWER: BUSINESS OVERVIEW 215
TABLE 188 IDEAL ELECTRIC POWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 215
13.1.13 POWER SYSTEMS & CONTROLS 216
TABLE 189 POWER SYSTEMS & CONTROLS (PS&C): BUSINESS OVERVIEW 216
TABLE 190 POWER SYSTEMS & CONTROLS (PS&C): PRODUCTS/SOLUTIONS/
SERVICES OFFERED 216
13.1.14 BRUSH GROUP 217
TABLE 191 BRUSH GROUP: BUSINESS OVERVIEW 217
TABLE 192 BRUSH GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 217
13.1.15 ELECTROMECHANICAL ENGINEERING ASSOCIATES 218
TABLE 193 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): BUSINESS OVERVIEW 218
TABLE 194 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): PRODUCTS/SOLUTIONS/SERVICES OFFERED 218
TABLE 195 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): OTHERS 219
13.1.16 ANHUI ZHONGDIAN (ZDDQ) ELECTRIC CO., LTD. 220
TABLE 196 ANHUI ZHONGDIAN ELECTRIC CO., LTD.: BUSINESS OVERVIEW 220
TABLE 197 ANHUI ZHONGDIAN ELECTRIC CO., LTD.: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 220
13.1.17 SHANGHAI ELECTRIC 221
TABLE 198 SHANGHAI ELECTRIC: BUSINESS OVERVIEW 221
TABLE 199 SHANGHAI ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 221
13.1.18 INGETEAM 222
TABLE 200 INGETEAM: BUSINESS OVERVIEW 222
TABLE 201 INGETEAM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 222
13.1.19 DOOSAN ŠKODA POWER 223
TABLE 202 DOOSAN ŠKODA POWER: BUSINESS OVERVIEW 223
TABLE 203 DOOSAN ŠKODA POWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 223
13.1.20 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD. 224
TABLE 204 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD.:
BUSINESS OVERVIEW 224
TABLE 205 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 224
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
14 APPENDIX 225
14.1 INSIGHTS FROM INDUSTRY EXPERTS 225
14.2 DISCUSSION GUIDE 226
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 231
14.4 CUSTOMIZATION OPTIONS 233
14.5 RELATED REPORTS 233
14.6 AUTHOR DETAILS 234
1.1 STUDY OBJECTIVES 31
1.2 MARKET DEFINITION 32
1.3 INCLUSIONS AND EXCLUSIONS 32
1.3.1 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY: INCLUSIONS AND EXCLUSIONS 32
1.3.2 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING: INCLUSIONS AND EXCLUSIONS 33
1.3.3 SYNCHRONOUS CONDENSER MARKET, BY END USER: INCLUSIONS AND EXCLUSIONS 33
1.4 MARKET SCOPE 33
1.4.1 SYNCHRONOUS CONDENSER MARKET: SEGMENTATION 33
1.4.2 SYNCHRONOUS CONDENSER MARKET: REGIONAL SCOPE 34
1.5 YEARS CONSIDERED 34
1.6 CURRENCY CONSIDERED 35
1.7 LIMITATIONS 35
1.8 STAKEHOLDERS 35
1.9 SUMMARY OF CHANGES 36
2 RESEARCH METHODOLOGY 37
2.1 RESEARCH DATA 37
FIGURE 1 SYNCHRONOUS CONDENSER MARKET: RESEARCH DESIGN 38
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 39
2.2.1 SECONDARY DATA 40
2.2.1.1 Key data from secondary sources 40
2.2.2 PRIMARY DATA 41
2.2.2.1 Key data from primary sources 41
2.2.2.2 Breakdown of primaries 42
2.3 SCOPE OF STUDY 42
2.4 DEMAND-SIDE ANALYSIS 43
FIGURE 2 PARAMETERS CONSIDERED WHILE ASSESSING DEMAND FOR SYNCHRONOUS CONDENSERS 43
2.4.1 DEMAND-SIDE ANALYSIS: BOTTOM-UP APPROACH 44
FIGURE 3 SYNCHRONOUS CONDENSER MARKET: INDUSTRY AND REGION-/COUNTRY-WISE ANALYSIS 44
2.4.1.1 Demand-side analysis of synchronous condenser market 44
2.4.1.2 Assumptions while calculating demand-side market size 45
2.4.2 SUPPLY-SIDE ANALYSIS 45
FIGURE 4 CALCULATION OF REVENUES OF MAJOR PLAYERS FROM SALES OF SYNCHRONOUS CONDENSERS TO IDENTIFY GLOBAL MARKET SIZE 45
2.4.2.1 Supply-side analysis of synchronous condenser market 46
FIGURE 5 KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF SYNCHRONOUS CONDENSERS 46
2.4.2.2 Assumptions while calculating supply-side market size 46
FIGURE 6 COMPANY REVENUE ANALYSIS, 2021 47
2.4.3 FORECAST 47
3 EXECUTIVE SUMMARY 48
TABLE 1 SYNCHRONOUS CONDENSER MARKET: SNAPSHOT 48
FIGURE 7 NORTH AMERICA DOMINATED SYNCHRONOUS CONDENSER MARKET
IN 2021 49
FIGURE 8 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT TO DOMINATE MARKET, BY COOLING TECHNOLOGY, DURING FORECAST PERIOD 50
FIGURE 9 STATIC FREQUENCY CONVERTER TO BE FASTEST-GROWING SEGMENT OF SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, DURING FORECAST PERIOD 50
FIGURE 10 ABOVE 200 MVAR SEGMENT TO DOMINATE SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, DURING FORECAST PERIOD 51
FIGURE 11 ELECTRICAL UTILITIES SEGMENT TO DOMINATE SYNCHRONOUS CONDENSER MARKET, BY END USER, DURING FORECAST PERIOD 51
FIGURE 12 NEW SYNCHRONOUS CONDENSER SEGMENT TO LEAD MARKET, BY TYPE, DURING FORECAST PERIOD 52
4 PREMIUM INSIGHTS 53
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SYNCHRONOUS CONDENSER MARKET 53
FIGURE 13 RISING INVESTMENTS IN DEVELOPING POWER INFRASTRUCTURES AND INTEGRATION OF RENEWABLE SOURCES INTO GRIDS TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS DURING FORECAST PERIOD 53
4.2 SYNCHRONOUS CONDENSER MARKET, BY REGION 54
FIGURE 14 NORTH AMERICAN SYNCHRONOUS CONDENSER MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 54
4.3 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE AND COUNTRY, 2021 54
FIGURE 15 REFURBISHED SYNCHRONOUS CONDENSER SEGMENT AND US HELD LARGER SHARES OF NORTH AMERICAN SYNCHRONOUS CONDENSER MARKET IN 2021 54
4.4 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING 55
FIGURE 16 ABOVE 200 MVAR SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE
BY 2030 55
4.5 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 55
FIGURE 17 STATIC FREQUENCY CONVERTER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE BY 2030 55
4.6 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY 56
FIGURE 18 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE BY 2030 56
4.7 SYNCHRONOUS CONDENSER MARKET, BY TYPE 56
FIGURE 19 NEW SYNCHRONOUS CONDENSER SEGMENT TO DOMINATE MARKET
BY 2030 56
5 MARKET OVERVIEW 57
5.1 INTRODUCTION 57
5.2 MARKET DYNAMICS 57
FIGURE 20 SYNCHRONOUS CONDENSER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 57
5.2.1 DRIVERS 58
5.2.1.1 Growing use of renewable and sustainable energy sources and increasing investments in capacity additions 58
FIGURE 21 RENEWABLE ELECTRICITY CAPACITY ADDITION, 2014–2021 59
FIGURE 22 INSTALLED RENEWABLE ELECTRICITY GENERATING CAPACITY, 2020–2050 59
5.2.1.2 Growing requirement for power factor correction (PFC) and increasing investments in developing transmission and distribution (T&D) infrastructures 59
FIGURE 23 INVESTMENTS IN ELECTRICITY NETWORKS, BY REGION (2015–2021) 60
TABLE 2 TRANSMISSION AND DISTRIBUTION (T&D) INFRASTRUCTURE
EXPANSION PLANS 61
5.2.2 RESTRAINTS 62
5.2.2.1 High manufacturing and maintenance costs 62
5.2.3 OPPORTUNITIES 62
5.2.3.1 Conversion of synchronous generators into synchronous condensers 62
5.2.3.2 Rising adoption of high-voltage direct current (HVDC) systems 62
5.2.4 CHALLENGES 63
5.2.4.1 Availability of low-cost substitutes 63
TABLE 3 COMPARISON BETWEEN SYNCHRONOUS CONDENSER AND ITS SUBSTITUTES 63
5.2.4.2 Shortage of components/parts used in manufacturing of synchronous condensers due to COVID-19 64
TABLE 4 CHANGE IN PRICES OF COMMODITIES, 2019–2020 64
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 64
5.3.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR SYNCHRONOUS CONDENSER MANUFACTURERS 64
FIGURE 24 REVENUE SHIFT FOR SYNCHRONOUS CONDENSER MANUFACTURERS 65
5.4 MARKET MAP 66
FIGURE 25 SYNCHRONOUS CONDENSER MARKET: MARKET MAP 66
TABLE 5 SYNCHRONOUS CONDENSER MARKET: ROLE IN ECOSYSTEM 66
5.5 VALUE CHAIN ANALYSIS 68
FIGURE 26 SYNCHRONOUS CONDENSER MARKET: VALUE CHAIN ANALYSIS 68
5.5.1 RAW MATERIAL PROVIDERS/SUPPLIERS 68
5.5.2 COMPONENT MANUFACTURERS 69
5.5.3 SYNCHRONOUS CONDENSER MANUFACTURERS/ASSEMBLERS/
SERVICE PROVIDERS 69
5.5.4 DISTRIBUTORS/END USERS 69
5.5.5 POST-SALES SERVICE PROVIDERS 69
5.6 CODES AND REGULATIONS RELATED TO SYNCHRONOUS CONDENSER MARKET 69
TABLE 6 SYNCHRONOUS CONDENSER MARKET: CODES AND REGULATIONS 69
5.7 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 71
TABLE 7 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 71
TABLE 8 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 73
TABLE 9 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 74
TABLE 10 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 76
TABLE 11 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 76
5.8 INNOVATIONS AND PATENT REGISTRATIONS 77
TABLE 12 SYNCHRONOUS CONDENSER MARKET: INNOVATIONS AND PATENT REGISTRATIONS, FEBRUARY 2016–NOVEMBER 2021 77
5.9 PORTER’S FIVE FORCES ANALYSIS 82
FIGURE 27 PORTER’S FIVE FORCES ANALYSIS 82
TABLE 13 SYNCHRONOUS CONDENSER MARKET: PORTER’S FIVE FORCES ANALYSIS 82
5.9.1 THREAT OF SUBSTITUTES 83
5.9.2 BARGAINING POWER OF SUPPLIERS 83
5.9.3 BARGAINING POWER OF BUYERS 83
5.9.4 THREAT OF NEW ENTRANTS 83
5.9.5 INTENSITY OF COMPETITIVE RIVALRY 84
5.10 CASE STUDY ANALYSIS 84
5.10.1 USE OF GE’S SYNCHRONOUS CONDENSERS IN NORTHWEST VERMONT RELIABILITY PROJECT 84
5.10.1.1 Problem statement 84
5.10.1.2 Solution 84
5.10.2 REFURBISHMENT OF SYNCHRONOUS GENERATORS TO SYNCHRONOUS CONDENSERS 85
5.10.2.1 Problem statement 85
5.10.2.2 Solution 85
5.10.3 USE OF TERNA’S SYNCHRONOUS CONDENSERS TO STABILIZE GRID IN SARDINIA REGION 85
5.10.3.1 Problem statement 85
5.10.3.2 Solution 85
5.11 PRICING ANALYSIS 86
TABLE 14 AVERAGE SELLING PRICE OF SYNCHRONOUS CONDENSERS 86
5.12 TECHNOLOGY ANALYSIS 86
5.12.1 HIGH-TEMPERATURE SUPERCONDUCTOR (HTS) DYNAMIC SYNCHRONOUS CONDENSER 86
5.12.2 MODE OF OPERATION (APPLICATION) 86
5.12.2.1 Standalone synchronous condenser 87
5.12.2.2 Power plants with synchronous condensing capacity 87
5.12.2.3 Retrofitting of existing and decommissioned power plants 87
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 88
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 88
FIGURE 28 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER 88
TABLE 15 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER (%) 88
5.13.2 BUYING CRITERIA 88
FIGURE 29 KEY BUYING CRITERIA FOR END USERS 88
TABLE 16 KEY BUYING CRITERIA, BY END USER 89
5.14 KEY CONFERENCES AND EVENTS, 2022–2024 89
TABLE 17 SYNCHRONOUS CONDENSER MARKET: DETAILED LIST OF CONFERENCES AND EVENTS 89
6 SYNCHRONOUS CONDENSER MARKET, BY TYPE 91
6.1 INTRODUCTION 92
FIGURE 30 NEW SYNCHRONOUS CONDENSER SEGMENT ACCOUNTED FOR LARGER MARKET SHARE IN 2021 92
TABLE 18 SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2018–2021 (USD MILLION) 92
TABLE 19 SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2022–2030 (USD MILLION) 92
6.2 NEW SYNCHRONOUS CONDENSER 93
6.2.1 EXPANSION OF HVDC NETWORKS TO INCREASE INSTALLATION OF NEW SYNCHRONOUS CONDENSERS 93
TABLE 20 NEW SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 93
TABLE 21 NEW SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 93
6.3 REFURBISHED SYNCHRONOUS CONDENSER 94
6.3.1 LOW COST OF REFURBISHED SYNCHRONOUS CONDENSERS TO
FUEL DEMAND 94
TABLE 22 REFURBISHED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 94
TABLE 23 REFURBISHED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 94
7 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY 95
7.1 INTRODUCTION 96
FIGURE 31 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2021 96
TABLE 24 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY,
2018–2021 (USD MILLION) 96
TABLE 25 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY,
2022–2030 (USD MILLION) 97
7.2 HYDROGEN-COOLED SYNCHRONOUS CONDENSER 97
7.2.1 LOW WINDAGE LOSS AND HIGH THERMAL CONDUCTIVITY FEATURES OF HYDROGEN-COOLED SYNCHRONOUS CONDENSERS TO FUEL DEMAND 97
TABLE 26 HYDROGEN-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 98
TABLE 27 HYDROGEN-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 98
7.3 AIR-COOLED SYNCHRONOUS CONDENSER 98
7.3.1 EXCELLENT COOLING FEATURE OF AIR-COOLED SYNCHRONOUS CONDENSERS TO PROPEL DEMAND 98
TABLE 28 AIR-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 99
TABLE 29 AIR-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 99
7.4 WATER-COOLED SYNCHRONOUS CONDENSER 100
7.4.1 HIGHER EFFICIENCY OF WATER-COOLED SYNCHRONOUS CONDENSERS COMPARED TO HYDROGEN-COOLED CONDENSERS TO FUEL DEMAND 100
TABLE 30 WATER-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 100
TABLE 31 WATER-COOLED SYNCHRONOUS CONDENSER: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 100
8 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 101
8.1 INTRODUCTION 102
FIGURE 32 STATIC FREQUENCY CONVERTER SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2021 102
TABLE 32 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD,
2018–2021 (USD MILLION) 102
TABLE 33 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD,
2022–2030 (USD MILLION) 103
8.2 STATIC FREQUENCY CONVERTER 103
8.2.1 LOW INSTALLATION COST OF STATIC FREQUENCY CONVERTER TO
FUEL DEMAND 103
TABLE 34 STATIC FREQUENCY CONVERTER: SYNCHRONOUS CONDENSER MARKET,
BY REGION, 2018–2021 (USD MILLION) 103
TABLE 35 STATIC FREQUENCY CONVERTER: SYNCHRONOUS CONDENSER MARKET,
BY REGION, 2022–2030 (USD MILLION) 104
8.3 PONY MOTOR 104
8.3.1 LOW COST AND ABILITY TO START LOW-CAPACITY SYNCHRONOUS CONDENSERS (BELOW 50 MVAR) TO FUEL DEMAND FOR PONY MOTORS 104
TABLE 36 PONY MOTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 104
TABLE 37 PONY MOTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 105
8.4 OTHERS 105
TABLE 38 OTHERS: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 105
TABLE 39 OTHERS: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 106
9 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING 107
9.1 INTRODUCTION 108
FIGURE 33 ABOVE 200 MVAR SEGMENT ACCOUNTED FOR LARGEST MARKET
SHARE IN 2021 108
TABLE 40 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING,
2018–2021 (USD MILLION) 108
TABLE 41 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING,
2022–2030 (USD MILLION) 109
9.2 UP TO 100 MVAR 109
9.2.1 RISING USE OF AIR- AND WATER-COOLED SYNCHRONOUS CONDENSERS
TO FUEL MARKET GROWTH 109
TABLE 42 UP TO 100 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 110
TABLE 43 UP TO 100 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 110
9.3 101–200 MVAR 110
9.3.1 GROWING NEED TO ENSURE STABILITY OF TRANSMISSION GRIDS TO FUEL DEMAND FOR 101–200 MVAR SYNCHRONOUS CONDENSERS 110
TABLE 44 101–200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 111
TABLE 45 101–200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 111
9.4 ABOVE 200 MVAR 112
9.4.1 RISING ADOPTION OF LARGE-SIZED HYDROGEN-COOLED SYNCHRONOUS CONDENSERS TO DRIVE MARKET GROWTH 112
TABLE 46 ABOVE 200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 112
TABLE 47 ABOVE 200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 112
10 SYNCHRONOUS CONDENSER MARKET, BY END USER 114
10.1 INTRODUCTION 115
FIGURE 34 ELECTRICAL UTILITIES SEGMENT ACCOUNTED FOR LARGER MARKET
SHARE IN 2021 115
TABLE 48 SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 115
TABLE 49 SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 116
10.2 ELECTRICAL UTILITIES 116
10.2.1 RISING NEED TO IMPROVE GRID STABILITY TO BOOST MARKET GROWTH 116
TABLE 50 ELECTRICAL UTILITIES: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 117
TABLE 51 ELECTRICAL UTILITIES: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 117
10.3 INDUSTRIAL SECTOR 117
10.3.1 INCREASING NEED TO PERFORM POWER FACTOR CORRECTION OF INDUSTRIAL LOADS TO FUEL DEMAND FOR SYNCHRONOUS CONDENSERS 117
TABLE 52 INDUSTRIAL SECTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (USD MILLION) 118
TABLE 53 INDUSTRIAL SECTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (USD MILLION) 118
11 SYNCHRONOUS CONDENSER MARKET, BY REGION 119
11.1 INTRODUCTION 120
FIGURE 35 SYNCHRONOUS CONDENSER MARKET: REGIONAL SNAPSHOT 120
FIGURE 36 REGIONAL ANALYSIS OF SYNCHRONOUS CONDENSER MARKET, 2021 120
TABLE 54 SYNCHRONOUS CONDENSER MARKET, BY REGION,
2018–2021 (USD MILLION) 121
TABLE 55 SYNCHRONOUS CONDENSER MARKET, BY REGION,
2022–2030 (USD MILLION) 121
TABLE 56 SYNCHRONOUS CONDENSER MARKET, BY REGION, 2018–2021 (UNITS) 121
TABLE 57 SYNCHRONOUS CONDENSER MARKET, BY REGION, 2022–2030 (UNITS) 122
11.2 NORTH AMERICA 122
FIGURE 37 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 123
11.2.1 BY TYPE 123
TABLE 58 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 123
TABLE 59 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 124
11.2.2 BY COOLING TECHNOLOGY 124
TABLE 60 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 124
TABLE 61 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 124
11.2.3 BY STARTING METHOD 125
TABLE 62 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 125
TABLE 63 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 125
11.2.4 BY REACTIVE POWER RATING 125
TABLE 64 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 125
TABLE 65 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 126
11.2.5 BY END USER 126
TABLE 66 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 126
TABLE 67 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 126
11.2.6 BY COUNTRY 127
TABLE 68 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 127
TABLE 69 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 127
11.2.6.1 US 127
11.2.6.1.1 Government-led initiatives to upgrade legacy power infrastructures and phase out coal-based power plants to fuel demand for synchronous condensers 127
FIGURE 38 PLANNED RETIREMENTS OF UTILITY-SCALE ELECTRICITY-GENERATING CAPACITIES IN US, 2022–2030 128
TABLE 70 US: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 128
TABLE 71 US: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 129
11.2.6.2 Canada 129
11.2.6.2.1 Rising investments in renewable energy generation to propel market growth 129
TABLE 72 CANADA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 130
TABLE 73 CANADA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 130
11.3 EUROPE 130
FIGURE 39 EUROPE: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 131
11.3.1 BY TYPE 131
TABLE 74 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 131
TABLE 75 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 132
11.3.2 BY COOLING TECHNOLOGY 132
TABLE 76 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 132
TABLE 77 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 132
11.3.3 BY STARTING METHOD 133
TABLE 78 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 133
TABLE 79 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 133
11.3.4 BY REACTIVE POWER RATING 133
TABLE 80 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 133
TABLE 81 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 134
11.3.5 BY END USER 134
TABLE 82 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 134
TABLE 83 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 134
11.3.6 BY COUNTRY 135
TABLE 84 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2018–2021 (USD MILLION) 135
TABLE 85 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2022–2030 (USD MILLION) 135
11.3.6.1 Denmark 135
11.3.6.1.1 Growing need to stabilize gird transmission to fuel demand for synchronous condensers 135
TABLE 86 DENMARK: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 136
TABLE 87 DENMARK: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 136
11.3.6.2 Italy 136
11.3.6.2.1 Rising integration of renewable sources into grids to propel demand for synchronous condensers 136
TABLE 88 ITALY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 137
TABLE 89 ITALY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 137
11.3.6.3 Germany 137
11.3.6.3.1 Government-led initiatives to replace fossil fuels with renewable sources in power generation mix to drive
market growth 137
TABLE 90 GERMANY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 137
TABLE 91 GERMANY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 138
11.3.6.4 Norway 138
11.3.6.4.1 Rising investments in expansion of HVDC networks to fuel demand for synchronous condensers 138
TABLE 92 NORWAY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 138
TABLE 93 NORWAY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 139
11.3.6.5 Rest of Europe 139
TABLE 94 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 139
TABLE 95 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 139
11.4 SOUTH AMERICA 140
11.4.1 BY TYPE 140
TABLE 96 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 140
TABLE 97 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 140
11.4.2 BY COOLING TECHNOLOGY 141
TABLE 98 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 141
TABLE 99 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 141
11.4.3 BY STARTING METHOD 141
TABLE 100 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 141
TABLE 101 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 142
11.4.4 BY REACTIVE POWER RATING 142
TABLE 102 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 142
TABLE 103 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 142
11.4.5 BY END USER 143
TABLE 104 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 143
TABLE 105 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 143
11.4.6 BY COUNTRY 143
TABLE 106 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 143
TABLE 107 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 144
11.4.6.1 Brazil 144
11.4.6.1.1 Government-led initiatives to develop power infrastructures to fuel demand for synchronous condensers 144
TABLE 108 BRAZIL: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 144
TABLE 109 BRAZIL: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 145
11.4.6.2 Rest of South America 145
TABLE 110 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 145
TABLE 111 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 145
11.5 ASIA PACIFIC 146
FIGURE 40 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 147
11.5.1 BY TYPE 147
TABLE 112 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2018–2021 (USD MILLION) 147
TABLE 113 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2022–2030 (USD MILLION) 148
11.5.2 BY COOLING TECHNOLOGY 148
TABLE 114 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 148
TABLE 115 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 148
11.5.3 BY STARTING METHOD 149
TABLE 116 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2018–2021 (USD MILLION) 149
TABLE 117 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2022–2030 (USD MILLION) 149
11.5.4 BY REACTIVE POWER RATING 149
TABLE 118 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 149
TABLE 119 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 150
11.5.5 BY END USER 150
TABLE 120 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 150
TABLE 121 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 150
11.5.6 BY COUNTRY 151
TABLE 122 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2018–2021 (USD MILLION) 151
TABLE 123 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2022–2030 (USD MILLION) 151
11.5.6.1 China 151
11.5.6.1.1 Growing need to improve power reliability to fuel demand for synchronous condensers 151
TABLE 124 CHINA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 152
TABLE 125 CHINA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 152
11.5.6.2 Australia 152
11.5.6.2.1 Rising deployment of synchronous condensers in power infrastructures to drive market growth 152
TABLE 126 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 153
TABLE 127 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 153
11.5.6.3 Rest of Asia Pacific 153
TABLE 128 REST OF ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2018–2021 (USD MILLION) 153
TABLE 129 REST OF ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2022–2030 (USD MILLION) 154
11.6 MIDDLE EAST & AFRICA 154
11.6.1 BY TYPE 155
TABLE 130 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2018–2021 (USD MILLION) 155
TABLE 131 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2022–2030 (USD MILLION) 155
11.6.2 BY COOLING TECHNOLOGY 155
TABLE 132 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2018–2021 (USD MILLION) 155
TABLE 133 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2022–2030 (USD MILLION) 156
11.6.3 BY STARTING METHOD 156
TABLE 134 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY STARTING METHOD, 2018–2021 (USD MILLION) 156
TABLE 135 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY STARTING METHOD, 2022–2030 (USD MILLION) 156
11.6.4 BY REACTIVE POWER RATING 157
TABLE 136 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2018–2021 (USD MILLION) 157
TABLE 137 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2022–2030 (USD MILLION) 157
11.6.5 BY END USER 157
TABLE 138 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 157
TABLE 139 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 158
11.6.6 BY COUNTRY 158
TABLE 140 REST OF THE MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 158
TABLE 141 REST OF THE MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 158
11.6.6.1 Kenya 159
11.6.6.1.1 Increasing number of power generation projects to drive market growth 159
TABLE 142 KENYA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2018–2021 (USD MILLION) 159
TABLE 143 KENYA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2022–2030 (USD MILLION) 159
11.6.6.2 Rest of Middle East & Africa 160
TABLE 144 REST OF MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2018–2021 (USD MILLION) 160
TABLE 145 REST OF MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2022–2030 (USD MILLION) 160
12 COMPETITIVE LANDSCAPE 161
12.1 KEY PLAYER STRATEGIES 161
TABLE 146 OVERVIEW OF KEY STRATEGIES ADOPTED BY TOP MARKET PLAYERS, JANUARY 2017–JUNE 2022 161
12.2 MARKET SHARE ANALYSIS 163
TABLE 147 SYNCHRONOUS CONDENSER MARKET: DEGREE OF COMPETITION 163
FIGURE 41 SYNCHRONOUS CONDENSER MARKET SHARE ANALYSIS, 2021 164
12.3 REVENUE SHARE ANALYSIS OF TOP 5 MARKET PLAYERS 165
FIGURE 42 TOP 5 PLAYERS DOMINATED SYNCHRONOUS CONDENSER MARKET FROM 2017 TO 2021 165
12.4 COMPANY EVALUATION QUADRANT 166
12.4.1 STARS 166
12.4.2 EMERGING LEADERS 166
12.4.3 PERVASIVE PLAYERS 166
12.4.4 PARTICIPANTS 166
FIGURE 43 COMPETITIVE LEADERSHIP MAPPING: SYNCHRONOUS CONDENSER MARKET, 2021 167
12.5 SYNCHRONOUS CONDENSER MARKET: COMPANY FOOTPRINT 168
TABLE 148 TYPE: COMPANY FOOTPRINT 168
TABLE 149 REACTIVE POWER RATING: COMPANY FOOTPRINT 169
TABLE 150 REGION: COMPANY FOOTPRINT 170
TABLE 151 OVERALL COMPANY FOOTPRINT 171
12.6 COMPETITIVE SCENARIO 172
TABLE 152 SYNCHRONOUS CONDENSER MARKET: PRODUCT LAUNCHES,
JANUARY 2017–SEPTEMBER 2021 172
TABLE 153 SYNCHRONOUS CONDENSER MARKET: DEALS, JANUARY 2017–
SEPTEMBER 2021 172
13 COMPANY PROFILES 174
13.1 KEY PLAYERS 174
(Business overview, Products/Solutions/Services offered, Recent Developments, MNM view)*
13.1.1 ABB 174
TABLE 154 ABB: BUSINESS OVERVIEW 174
FIGURE 44 ABB: COMPANY SNAPSHOT, 2021 175
TABLE 155 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED 175
TABLE 156 ABB: PRODUCT LAUNCHES 176
TABLE 157 ABB: DEALS 176
TABLE 158 ABB: OTHERS 177
13.1.2 SIEMENS ENERGY 179
TABLE 159 SIEMENS ENERGY: BUSINESS OVERVIEW 179
FIGURE 45 SIEMENS ENERGY: COMPANY SNAPSHOT, 2021 180
TABLE 160 SIEMENS ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 180
TABLE 161 SIEMENS ENERGY: OTHERS 181
13.1.3 GE 183
TABLE 162 GE: BUSINESS OVERVIEW 183
FIGURE 46 GE: COMPANY SNAPSHOT, 2021 184
TABLE 163 GE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 184
TABLE 164 GE: OTHERS 185
13.1.4 WEG 187
TABLE 165 WEG: BUSINESS OVERVIEW 187
FIGURE 47 WEG: COMPANY SNAPSHOT, 2021 188
TABLE 166 WEG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 188
TABLE 167 WEG: DEALS 189
TABLE 168 WEG: OTHERS 189
13.1.5 EATON 191
TABLE 169 EATON: BUSINESS OVERVIEW 191
FIGURE 48 EATON: COMPANY SNAPSHOT, 2021 192
TABLE 170 EATON: PRODUCTS/SOLUTIONS/SERVICES OFFERED 192
13.1.6 ANDRITZ GROUP 194
TABLE 171 ANDRITZ GROUP: BUSINESS OVERVIEW 194
FIGURE 49 ANDRITZ GROUP: COMPANY SNAPSHOT, 2021 195
TABLE 172 ANDRITZ GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 196
TABLE 173 ANDRITZ GROUP: OTHERS 196
13.1.7 ANSALDO ENERGIA 198
TABLE 174 ANSALDO ENERGIA: BUSINESS OVERVIEW 198
FIGURE 50 ANSALDO ENERGIA: COMPANY SNAPSHOT, 2021 199
TABLE 175 ANSALDO ENERGIA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 200
TABLE 176 ANSALDO ENERGIA: OTHERS 201
13.1.8 MITSUBISHI HEAVY INDUSTRIES 202
TABLE 177 MITSUBISHI HEAVY INDUSTRIES: BUSINESS OVERVIEW 202
FIGURE 51 MITSUBISHI HEAVY INDUSTRIES: COMPANY SNAPSHOT, 2020 203
TABLE 178 MITSUBISHI HEAVY INDUSTRIES: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 203
TABLE 179 MITSUBISHI HEAVY INDUSTRIES: OTHERS 204
13.1.9 VOITH GROUP 206
TABLE 180 VOITH GROUP: BUSINESS OVERVIEW 206
FIGURE 52 VOITH GROUP: COMPANY SNAPSHOT, 2021 207
TABLE 181 VOITH GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 207
TABLE 182 VOITH GROUP: OTHERS 208
13.1.10 FUJI ELECTRIC 210
TABLE 183 FUJI ELECTRIC: BUSINESS OVERVIEW 210
FIGURE 53 FUJI ELECTRIC: COMPANY SNAPSHOT, 2020 211
TABLE 184 FUJI ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 212
13.1.11 BHARAT HEAVY ELECTRICALS LIMITED (BHEL) 213
TABLE 185 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): BUSINESS OVERVIEW 213
FIGURE 54 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): COMPANY SNAPSHOT, 2021 214
TABLE 186 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): PRODUCTS/SOLUTIONS/ SERVICES OFFERED 214
13.1.12 IDEAL ELECTRIC POWER (HYUNDAI IDEAL ELECTRIC CO.) 215
TABLE 187 IDEAL ELECTRIC POWER: BUSINESS OVERVIEW 215
TABLE 188 IDEAL ELECTRIC POWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 215
13.1.13 POWER SYSTEMS & CONTROLS 216
TABLE 189 POWER SYSTEMS & CONTROLS (PS&C): BUSINESS OVERVIEW 216
TABLE 190 POWER SYSTEMS & CONTROLS (PS&C): PRODUCTS/SOLUTIONS/
SERVICES OFFERED 216
13.1.14 BRUSH GROUP 217
TABLE 191 BRUSH GROUP: BUSINESS OVERVIEW 217
TABLE 192 BRUSH GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 217
13.1.15 ELECTROMECHANICAL ENGINEERING ASSOCIATES 218
TABLE 193 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): BUSINESS OVERVIEW 218
TABLE 194 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): PRODUCTS/SOLUTIONS/SERVICES OFFERED 218
TABLE 195 ELECTROMECHANICAL ENGINEERING ASSOCIATES (EME): OTHERS 219
13.1.16 ANHUI ZHONGDIAN (ZDDQ) ELECTRIC CO., LTD. 220
TABLE 196 ANHUI ZHONGDIAN ELECTRIC CO., LTD.: BUSINESS OVERVIEW 220
TABLE 197 ANHUI ZHONGDIAN ELECTRIC CO., LTD.: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 220
13.1.17 SHANGHAI ELECTRIC 221
TABLE 198 SHANGHAI ELECTRIC: BUSINESS OVERVIEW 221
TABLE 199 SHANGHAI ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 221
13.1.18 INGETEAM 222
TABLE 200 INGETEAM: BUSINESS OVERVIEW 222
TABLE 201 INGETEAM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 222
13.1.19 DOOSAN ŠKODA POWER 223
TABLE 202 DOOSAN ŠKODA POWER: BUSINESS OVERVIEW 223
TABLE 203 DOOSAN ŠKODA POWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 223
13.1.20 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD. 224
TABLE 204 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD.:
BUSINESS OVERVIEW 224
TABLE 205 HANGZHOU JINGCHENG ELECTRICAL EQUIPMENT CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 224
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
14 APPENDIX 225
14.1 INSIGHTS FROM INDUSTRY EXPERTS 225
14.2 DISCUSSION GUIDE 226
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 231
14.4 CUSTOMIZATION OPTIONS 233
14.5 RELATED REPORTS 233
14.6 AUTHOR DETAILS 234
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