1 INTRODUCTION 25
1.1 OBJECTIVES OF THE STUDY 25
1.2 DEFINITION 25
1.2.1 SYNCHRONOUS CONDENSER MARKET, BY COOLING TYPE: INCLUSIONS AND EXCLUSIONS 25
1.2.2 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING (MVAR): INCLUSIONS AND EXCLUSIONS 26
1.2.3 SYNCHRONOUS CONDENSER MARKET, BY END USER: INCLUSIONS AND EXCLUSIONS 26
1.3 MARKET SCOPE 27
1.3.1 MARKET SEGMENTATION 27
1.3.2 REGIONAL SCOPE 27
1.3.3 YEARS CONSIDERED 28
1.4 CURRENCY 28
1.5 LIMITATIONS 28
1.6 STAKEHOLDERS 29
1.7 SUMMARY OF CHANGES 29
2 RESEARCH METHODOLOGY 30
2.1 RESEARCH DATA 30
FIGURE 1 SYNCHRONOUS CONDENSER MARKET: RESEARCH DESIGN 31
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 32
2.2.1 SECONDARY DATA 33
2.2.1.1 Key data from secondary sources 33
2.2.2 PRIMARY DATA 33
2.2.2.1 Key data from primary sources 34
2.2.2.2 Breakdown of primaries 34
2.3 SCOPE 35
FIGURE 2 MAIN METRICS CONSIDERED WHILE CONSTRUCTING AND ASSESSING DEMAND FOR SYNCHRONOUS CONDENSERS 35
2.4 MARKET SIZE ESTIMATION 36
2.4.1 DEMAND-SIDE ANALYSIS BOTTOM-UP APPROACH 36
FIGURE 3 SYNCHRONOUS CONDENSER MARKET: INDUSTRY-REGION/COUNTRY-WISE ANALYSIS 36
2.4.1.1 Calculation for demand-side analysis 36
2.4.1.2 Key assumptions while calculating demand-side market size 37
2.4.2 SUPPLY-SIDE ANALYSIS 38
FIGURE 4 SYNCHRONOUS CONDENSER MARKET: SUPPLY-SIDE ANALYSIS 38
2.4.2.1 Calculations for supply- side analysis 38
FIGURE 5 KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF SYNCHRONOUS CONDENSERS 39
2.4.2.2 Assumptions while calculating supply-side market size 39
FIGURE 6 COMPANY REVENUE ANALYSIS, 2019 40
2.4.3 FORECAST 40
3 EXECUTIVE SUMMARY 41
3.1 SCENARIO ANALYSIS 41
FIGURE 7 SCENARIO ANALYSIS: SYNCHRONOUS CONDENSER MARKET, 2018–2025 41
3.1.1 OPTIMISTIC SCENARIO 42
3.1.2 REALISTIC SCENARIO 42
3.1.3 PESSIMISTIC SCENARIO 43
TABLE 1 SYNCHRONOUS CONDENSER MARKET SNAPSHOT 44
FIGURE 8 HYDROGEN-COOLED SYNCHRONOUS CONDENSERS ARE EXPECTED TO LEAD SYNCHRONOUS CONDENSER MARKET, BY COOLING TYPE, DURING FORECAST PERIOD 45
FIGURE 9 STATIC FREQUENCY CONVERTERS TO LEAD SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, DURING FORECAST PERIOD 45
FIGURE 10 ABOVE 200 MVAR SEGMENT IS EXPECTED TO LEAD SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, DURING FORECAST PERIOD 46
FIGURE 11 ELECTRICAL UTILITIES ARE EXPECTED TO LEAD SYNCHRONOUS CONDENSER MARKET, BY END USER, DURING FORECAST PERIOD 46
FIGURE 12 NEW SYNCHRONOUS CONDENSERS ARE EXPECTED TO LEAD SYNCHRONOUS CONDENSER MARKET, BY TYPE, DURING FORECAST PERIOD 47
FIGURE 13 NORTH AMERICA IS EXPECTED TO DOMINATE SYNCHRONOUS CONDENSER MARKET, BY REGION, IN TERMS OF CAGR (2020–2025) 47
4 PREMIUM INSIGHTS 49
4.1 ATTRACTIVE OPPORTUNITIES IN SYNCHRONOUS CONDENSER MARKET 49
FIGURE 14 GOVERNMENT INITIATIVES TO REPLACE FOSSIL FUELS & NUCLEAR POWER GENERATION CAPACITY WITH RENEWABLES AND GROWING NEED FOR POWER FACTOR CORRECTION ARE EXPECTED TO DRIVE SYNCHRONOUS CONDENSER MARKET, 2020–2025 49
4.2 SYNCHRONOUS CONDENSER MARKET, BY REGION 50
FIGURE 15 NORTH AMERICAN SYNCHRONOUS CONDENSER MARKET, BY REGION, IS EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 50
4.3 SYNCHRONOUS CONDENSER MARKET, BY COOLING TYPE 50
FIGURE 16 HYDROGEN-COOLED SEGMENT DOMINATED SYNCHRONOUS CONDENSER MARKET, BY COOLING TYPE, IN 2019 50
4.4 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 51
FIGURE 17 STATIC FREQUENCY CONVERTERS DOMINATED SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, IN 2019 51
4.5 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING (MVAR) 51
FIGURE 18 NEW SYNCHRONOUS CONDENSERS HELD LARGEST SHARE OF SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER
RATING (MVAR), IN 2019 51
4.6 SYNCHRONOUS CONDENSER MARKET, BY END USER 52
FIGURE 19 ELECTRICAL UTILITIES HELD LARGER SHARE OF SYNCHRONOUS CONDENSER MARKET, BY END USER, IN 2019 52
4.7 SYNCHRONOUS CONDENSER MARKET, BY TYPE 52
FIGURE 20 NEW SYNCHRONOUS CONDENSERS DOMINATED SYNCHRONOUS CONDENSER MARKET, BY TYPE, IN 2019 52
5 MARKET OVERVIEW 53
5.1 INTRODUCTION 53
5.2 COVID-19 HEALTH ASSESSMENT 53
FIGURE 21 COVID-19: GLOBAL PROPAGATION 53
5.3 MARKET DYNAMICS 54
FIGURE 22 SYNCHRONOUS CONDENSER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 54
5.3.1 DRIVERS 54
5.3.1.1 Increasing demand for renewable power generation 54
FIGURE 23 ELECTRICITY MIX (TWH), OECD, 2019 55
5.3.1.2 Growing need for Power Factor Correction (PFC) 55
5.3.2 RESTRAINTS 55
5.3.2.1 High maintenance and equipment costs of synchronous condensers 55
5.3.3 OPPORTUNITIES 56
5.3.3.1 Converting the existing synchronous generators into synchronous condensers 56
5.3.3.2 Expanding High-Voltage Direct Current (HVDC) network 56
5.3.4 CHALLENGES 56
5.3.4.1 Availability of low-cost alternatives such as synchronous generators, capacitors, and STATCOM 56
TABLE 2 COMPARISON BETWEEN SYNCHRONOUS CONDENSER AND ITS ALTERNATIVES 56
5.3.4.2 Rising product costs due to shortage of components/parts used in manufacturing synchronous condensers due to COVID-19 57
5.4 YC-SHIFT 57
5.4.1 REVENUE SHIFT & NEW REVENUE POCKETS FOR SYNCHRONOUS CONDENSER MANUFACTURERS 57
FIGURE 24 REVENUE SHIFT FOR SYNCHRONOUS CONDENSER 57
5.5 MARKET MAP 58
FIGURE 25 MARKET MAP FOR SYNCHRONOUS CONDENSER 58
5.6 AVERAGE PRICING OF SYNCHRONOUS CONDENSER 58
5.7 VALUE CHAIN ANALYSIS 59
FIGURE 26 SYNCHRONOUS CONDENSER VALUE CHAIN 59
5.7.1 RAW MATERIAL PROVIDERS/ SUPPLIERS 59
5.7.2 COMPONENT MANUFACTURERS 59
5.7.3 ASSEMBLERS/MANUFACTURERS 60
5.7.4 DISTRIBUTORS (BUYERS)/ END USERS AND POST-SALES SERVICES 60
5.8 CASE STUDY ANALYSIS 60
5.8.1 TERNA’S SYNCHRONOUS CONDENSER SUCCESS 60
5.8.1.1 Problem statement 60
5.8.1.2 Possible solution by GE’s synchronous condenser 60
5.9 TECHNOLOGY ANALYSIS 60
5.10 REGULATORY LANDSCAPE 61
5.10.1 REGULATORY FRAMEWORK IN NORTH AMERICA 61
5.10.2 REGULATORY FRAMEWORK IN EUROPE 61
5.11 PORTER’S FIVE FORCES ANALYSIS 62
FIGURE 27 PORTER’S FIVE FORCES ANALYSIS 62
5.11.1 THREAT OF SUBSTITUTES 62
5.11.2 BARGAINING POWER OF SUPPLIERS 63
5.11.3 BARGAINING POWER OF BUYERS 63
5.11.4 THREAT OF NEW ENTRANTS 63
5.11.5 INTENSITY OF COMPETITIVE RIVALRY 64
6 IMPACT OF COVID-19 ON SYNCHRONOUS CONDENSER MARKET, SCENARIO ANALYSIS, BY REGION 65
6.1 SCENARIO ANALYSIS 65
FIGURE 28 CRITERIA IMPACTING GLOBAL ECONOMY 65
6.1.1 OPTIMISTIC SCENARIO 66
TABLE 3 OPTIMISTIC SCENARIO: SYNCHRONOUS CONDENSER MARKET SIZE,
BY REGION, 2018–2025 (USD MILLION) 66
6.1.2 REALISTIC SCENARIO 66
TABLE 4 REALISTIC SCENARIO: SYNCHRONOUS CONDENSER MARKET SIZE,
BY REGION, 2018–2025 (USD MILLION) 66
6.1.3 PESSIMISTIC SCENARIO 67
TABLE 5 PESSIMISTIC SCENARIO: SYNCHRONOUS CONDENSER MARKET SIZE,
BY REGION, 2018–2025 (USD MILLION) 67
7 SYNCHRONOUS CONDENSER MARKET, BY COOLING TYPE 69
7.1 INTRODUCTION 70
FIGURE 29 HYDROGEN-COOLED SYNCHRONOUS CONDENSERS ACCOUNTED FOR LARGEST MARKET SHARE IN 2019 70
TABLE 6 SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE,
2018–2025 (USD MILLION) 70
7.2 HYDROGEN COOLED 71
7.2.1 HIGH THERMAL CONDUCTIVITY OF HYDROGEN-COOLED SYNCHRONOUS CONDENSERS IS EXPECTED TO FOSTER THEIR DEMAND 71
TABLE 7 HYDROGEN COOLED: SYNCHRONOUS CONDENSER MARKET SIZE,
BY REGION, 2018–2025 (USD MILLION) 71
7.3 AIR COOLED 71
7.3.1 IMPROVED COOLING FEATURE OF AIR-COOLED SYNCHRONOUS CONDENSERS USING AIR CIRCULATION IS LIKELY TO FUEL MARKET GROWTH 71
TABLE 8 AIR COOLED: SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION, 2018–2025 (USD MILLION) 72
7.4 WATER COOLED 72
7.4.1 COST EFFICIENCY OF WATER-COOLED SYNCHRONOUS CONDENSERS OVER THEIR HYDROGEN-COOLED COUNTERPART IS LIKELY TO FOSTER THEIR DEMAND IN MARKET 72
TABLE 9 WATER COOLED: SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION, 2018–2025 (USD MILLION) 73
8 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 74
8.1 INTRODUCTION 75
FIGURE 30 STATIC FREQUENCY CONVERTER SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2019 75
TABLE 10 SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD,
2018–2025 (USD MILLION) 75
8.2 STATIC FREQUENCY CONVERTERS 76
8.2.1 LOW INSTALLATION COSTS AND LOW NOISE FEATURES ARE EXPECTED TO BOOST DEMAND FOR STATIC FREQUENCY CONVERTERS 76
TABLE 11 STATIC FREQUENCY CONVERTERS: SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION, 2018–2025 (USD MILLION) 76
8.3 PONY MOTORS 76
8.3.1 LOW COST OF PONY MOTORS IS LIKELY TO FOSTER THEIR DEMAND IN SYNCHRONOUS CONDENSER MARKET 76
TABLE 12 PONY MOTORS: SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION, 2018–2025 (USD MILLION) 77
8.4 OTHERS 77
TABLE 13 OTHERS: SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION,
2018–2025 (USD MILLION) 77
9 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING (MVAR) 78
9.1 INTRODUCTION 79
FIGURE 31 ABOVE 200 MVAR SYNCHRONOUS CONDENSER SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2019 79
TABLE 14 SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2018–2025 (USD MILLION) 79
9.2 UP TO 100 MVAR SYNCHRONOUS CONDENSERS 80
9.2.1 GROWING USAGE OF AIR- & WATER-COOLED SYNCHRONOUS CONDENSERS IS EXPECTED TO FOSTER DEMAND FOR SYNCHRONOUS CONDENSERS OF UP TO 100 MVAR 80
TABLE 15 UP TO 100 MVAR: SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION, 2018–2025 (USD MILLION) 80
9.3 100–200 MVAR SYNCHRONOUS CONDENSERS 80
9.3.1 USE OF 100–200 MVAR SYNCHRONOUS CONDENSERS FOR TRANSMISSION SYSTEM STABILITY IS LIKELY TO FOSTER THEIR DEMAND 80
TABLE 16 100–200 MVAR: SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION, 2018–2025 (USD MILLION) 81
9.4 ABOVE 200 MVAR SYNCHRONOUS CONDENSERS 81
9.4.1 GROWING USE OF HYDROGEN-COOLED SYNCHRONOUS CONDENSERS IS EXPECTED TO BOOST THEIR DEMAND 81
TABLE 17 ABOVE 200 MVAR: SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION, 2018–2025 (USD MILLION) 82
10 SYNCHRONOUS CONDENSER MARKET, BY END USER 83
10.1 INTRODUCTION 84
FIGURE 32 ELECTRICAL UTILITIES ACCOUNTED FOR LARGER MARKET SHARE IN 2019 84
TABLE 18 SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER, 2018–2025 (USD MILLION) 84
10.2 ELECTRICAL UTILITIES 85
10.2.1 DEMAND FOR GRID STABILITY AND CONTROLLING VOLTAGE FLUCTUATIONS IS EXPECTED TO DRIVE MARKET 85
TABLE 19 ELECTRICAL UTILITIES: SYNCHRONOUS CONDENSER MARKET SIZE,
BY REGION, 2018–2025 (USD MILLION) 85
10.3 INDUSTRIES 85
10.3.1 REQUIREMENT FOR INDUSTRIAL LOADS’ POWER FACTOR CORRECTION IS LIKELY TO DRIVE MARKET 85
TABLE 20 INDUSTRIES: SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION, 2018–2025 (USD MILLION) 86
11 SYNCHRONOUS CONDENSER MARKET, BY TYPE 87
11.1 INTRODUCTION 88
FIGURE 33 NEW SYNCHRONOUS CONDENSERS ACCOUNTED FOR LARGER MARKET SHARE IN 2019 88
TABLE 21 SYNCHRONOUS CONDENSER MARKET SIZE, BY TYPE,
2018–2025 (USD MILLION) 88
11.2 NEW SYNCHRONOUS CONDENSERS 89
11.2.1 EXPANSION OF HVDC NETWORK IS LIKELY TO GENERATE DEMAND FOR NEW SYNCHRONOUS CONDENSERS 89
TABLE 22 NEW: SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION,
2018–2025 (USD MILLION) 89
11.3 REFURBISHED SYNCHRONOUS CONDENSERS 89
11.3.1 REFURBISHED SYNCHRONOUS CONDENSERS ARE MORE ECONOMICAL, WHICH IS LIKELY TO PROPEL MARKET GROWTH 89
TABLE 23 REFURBISHED: SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION, 2018–2025 (USD MILLION) 90
12 SYNCHRONOUS CONDENSER MARKET, BY REGION 91
12.1 INTRODUCTION 92
FIGURE 34 REGIONAL SNAPSHOT: NORTH AMERICAN SYNCHRONOUS CONDENSER MARKET IS EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 92
FIGURE 35 SYNCHRONOUS CONDENSER MARKET SHARE (VALUE), BY REGION, 2019 92
TABLE 24 SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION,
2018–2025 (USD MILLION) 93
TABLE 25 SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION,
2018–2025 (UNITS) 93
12.1.1 IMPACT OF COVID-19 ON GLOBAL SYNCHRONOUS CONDENSER MARKET 93
TABLE 26 GLOBAL: COVID-19 IMPACT ON SYNCHRONOUS CONDENSER MARKET SIZE, 2018–2025 (USD MILLION) 93
FIGURE 36 GLOBAL: COVID-19 IMPACT ON SYNCHRONOUS CONDENSER MARKET, 2018–2025 (USD MILLION) 94
12.2 NORTH AMERICA 94
12.2.1 INTRODUCTION 94
FIGURE 37 NORTH AMERICA: REGIONAL SNAPSHOT 95
TABLE 27 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY COOLING TYPE, 2018–2025 (USD MILLION) 95
TABLE 28 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY STARTING METHOD, 2018–2025 (USD MILLION) 96
TABLE 29 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY END USER, 2018–2025 (USD MILLION) 96
TABLE 30 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY REACTIVE POWER RATING (MVAR), 2018–2025 (USD MILLION) 96
TABLE 31 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION) 97
TABLE 32 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION) 97
12.2.2 IMPACT OF COVID-19 ON NORTH AMERICAN MARKET 97
TABLE 33 NORTH AMERICA: COVID-19 IMPACT ON SYNCHRONOUS CONDENSER MARKET SIZE, 2018–2025 (USD MILLION) 97
FIGURE 38 NORTH AMERICA: IMPACT OF COVID-19 ON SYNCHRONOUS CONDENSER MARKET, 2018–2025 (USD MILLION) 98
12.2.3 US 98
12.2.3.1 Mercury and Air Toxics Standards’ compliance and growing demand for renewables are expected to increase demand 98
TABLE 34 US: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE,
2018–2025 (USD MILLION) 98
TABLE 35 US: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 2018–2025 (USD MILLION) 99
TABLE 36 US: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER,
2018–2025 (USD MILLION) 99
TABLE 37 US: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2018–2025 (USD MILLION) 99
TABLE 38 US: SYNCHRONOUS CONDENSER MARKET SIZE, BY TYPE,
2018–2025 (USD MILLION) 100
12.2.4 CANADA 100
12.2.4.1 Rising investments in renewable power generation are likely to propel market growth 100
TABLE 39 CANADA: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 2018–2025 (USD MILLION) 100
TABLE 40 CANADA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY STARTING METHOD, 2018–2025 (USD MILLION) 101
TABLE 41 CANADA: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER,
2018–2025 (USD MILLION) 101
TABLE 42 CANADA: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2018–2025 (USD MILLION) 101
TABLE 43 CANADA: SYNCHRONOUS CONDENSER MARKET SIZE, BY TYPE,
2018–2025 (USD MILLION) 102
12.3 EUROPE 102
12.3.1 INTRODUCTION 102
FIGURE 39 EUROPE: REGIONAL SNAPSHOT 103
TABLE 44 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 2018–2025 (USD MILLION) 103
TABLE 45 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 2018–2025 (USD MILLION) 104
TABLE 46 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER,
2018–2025 (USD MILLION) 104
TABLE 47 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2018–2025 (USD MILLION) 104
TABLE 48 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY TYPE,
2018–2025 (USD MILLION) 105
TABLE 49 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY COUNTRY,
2018–2025 (USD MILLION) 105
12.3.2 IMPACT OF COVID-19 ON MARKET IN EUROPE 105
TABLE 50 EUROPE: IMPACT OF COVID-19 ON SYNCHRONOUS CONDENSER MARKET SIZE, 2018–2025 (USD MILLION) 105
FIGURE 40 EUROPE: COVID-19 IMPACT ON SYNCHRONOUS CONDENSER MARKET, 2018–2025 (USD MILLION) 106
12.3.3 ITALY 106
12.3.3.1 Integrating renewable sources in grid systems is expected to boost demand 106
TABLE 51 ITALY: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE,
2018–2025 (USD MILLION) 106
TABLE 52 ITALY: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 2018–2025 (USD MILLION) 107
TABLE 53 ITALY: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER,
2018–2025 (USD MILLION) 107
TABLE 54 ITALY: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2018–2025 (USD MILLION) 107
TABLE 55 ITALY: SYNCHRONOUS CONDENSER MARKET SIZE, BY TYPE,
2018–2025 (USD MILLION) 108
12.3.4 GERMANY 108
12.3.4.1 Government initiatives to replace fossil fuels and nuclear power generation with renewables are likely to accelerate demand 108
TABLE 56 GERMANY: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 2018–2025 (USD MILLION) 108
TABLE 57 GERMANY: SYNCHRONOUS CONDENSER MARKET SIZE,
BY STARTING METHOD, 2018–2025 (USD MILLION) 109
TABLE 58 GERMANY: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER, 2018–2025 (USD MILLION) 109
TABLE 59 GERMANY: SYNCHRONOUS CONDENSER MARKET SIZE,
BY REACTIVE POWER RATING (MVAR), 2018–2025 (USD MILLION) 109
TABLE 60 GERMANY: SYNCHRONOUS CONDENSER MARKET SIZE, BY TYPE,
2018–2025 (USD MILLION) 110
12.3.5 NORWAY 110
12.3.5.1 Growing investments in HVDC network are likely to drive demand 110
TABLE 61 NORWAY: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 2018–2025 (USD MILLION) 110
TABLE 62 NORWAY: SYNCHRONOUS CONDENSER MARKET SIZE,
BY STARTING METHOD, 2018–2025 (USD MILLION) 111
TABLE 63 NORWAY: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER,
2018–2025 (USD MILLION) 111
TABLE 64 NORWAY: SYNCHRONOUS CONDENSER MARKET SIZE,
BY REACTIVE POWER RATING (MVAR), 2018–2025 (USD MILLION) 111
TABLE 65 NORWAY: SYNCHRONOUS CONDENSER MARKET SIZE, BY TYPE,
2018–2025 (USD MILLION) 112
12.3.6 REST OF EUROPE 112
TABLE 66 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE,
BY COOLING TYPE, 2018–2025 (USD MILLION) 112
TABLE 67 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE,
BY STARTING METHOD, 2018–2025 (USD MILLION) 113
TABLE 68 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE,
BY END USER, 2018–2025 (USD MILLION) 113
TABLE 69 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE,
BY REACTIVE POWER RATING (MVAR), 2018–2025 (USD MILLION) 113
TABLE 70 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION) 114
12.4 SOUTH AMERICA 114
12.4.1 INTRODUCTION 114
TABLE 71 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY COOLING TYPE, 2018–2025 (USD MILLION) 114
TABLE 72 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY STARTING METHOD, 2018–2025 (USD MILLION) 115
TABLE 73 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY END USER, 2018–2025 (USD MILLION) 115
TABLE 74 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY REACTIVE POWER RATING (MVAR), 2018–2025(USD MILLION) 115
TABLE 75 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY TYPE, 2018–2025 (USD MILLION) 116
TABLE 76 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY COUNTRY, 2018–2025 (USD MILLION) 116
12.4.2 IMPACT OF COVID-19 ON MARKET IN SOUTH AMERICA 116
TABLE 77 SOUTH AMERICA: IMPACT OF COVID-19 ON SYNCHRONOUS CONDENSER MARKET SIZE, 2018–2025 (USD MILLION) 116
FIGURE 41 SOUTH AMERICA: IMPACT OF COVID-19 ON SYNCHRONOUS CONDENSER MARKET, 2018–2025 (USD MILLION) 117
12.4.3 BRAZIL 117
12.4.3.1 Surging demand for power factor correction equipment is likely to drive Brazilian synchronous condenser market 117
TABLE 78 BRAZIL: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 2018–2025 (USD MILLION) 117
TABLE 79 BRAZIL: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 2018–2025 (USD MILLION) 118
TABLE 80 BRAZIL: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER,
2018–2025 (USD MILLION) 118
TABLE 81 BRAZIL: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2018–2025 (USD MILLION) 118
TABLE 82 BRAZIL: SYNCHRONOUS CONDENSER MARKET SIZE, BY TYPE,
2018–2025 (USD MILLION) 119
12.4.4 REST OF SOUTH AMERICA 119
TABLE 83 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY COOLING TYPE, 2018–2025 (USD MILLION) 119
TABLE 84 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY STARTING METHOD, 2018–2025 (USD MILLION) 120
TABLE 85 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY END USER, 2018–2025 (USD MILLION) 120
TABLE 86 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY REACTIVE POWER RATING (MVAR), 2018–2025 (USD MILLION) 120
TABLE 87 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY TYPE, 2018–2025 (USD MILLION) 121
12.5 REST OF THE WORLD (ROW) 121
12.5.1 INTRODUCTION 121
TABLE 88 REST OF THE WORLD: SYNCHRONOUS CONDENSER MARKET SIZE,
BY COOLING TYPE, 2018–2025 (USD MILLION) 121
TABLE 89 REST OF THE WORLD: SYNCHRONOUS CONDENSER MARKET SIZE,
BY STARTING METHOD, 2018–2025 (USD MILLION) 122
TABLE 90 REST OF THE WORLD: SYNCHRONOUS CONDENSER MARKET SIZE,
BY END USER, 2018–2025 (USD MILLION) 122
TABLE 91 REST OF THE WORLD: SYNCHRONOUS CONDENSER MARKET SIZE,
BY REACTIVE POWER RATING (MVAR), 2018–2025 (USD MILLION) 122
TABLE 92 REST OF THE WORLD: SYNCHRONOUS CONDENSER MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION) 123
TABLE 93 REST OF THE WORLD: SYNCHRONOUS CONDENSER MARKET SIZE,
BY COUNTRY, 2018–2025 (USD MILLION) 123
12.5.2 IMPACT OF COVID-19 ON MARKET IN REST OF THE WORLD 123
TABLE 94 REST OF THE WORLD: IMPACT OF COVID-19 ON SYNCHRONOUS CONDENSER MARKET SIZE, 2018–2025 (USD MILLION) 123
FIGURE 42 REST OF THE WORLD: IMPACT OF COVID-19 ON SYNCHRONOUS CONDENSER MARKET, 2018–2025 (USD MILLION) 124
12.5.3 AUSTRALIA 124
TABLE 95 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 2018–2025 (USD MILLION) 124
TABLE 96 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY STARTING METHOD, 2018–2025 (USD MILLION) 125
TABLE 97 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET SIZE, BY END USER, 2018–2025 (USD MILLION) 125
TABLE 98 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2018–2025 (USD MILLION) 125
TABLE 99 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET SIZE, BY TYPE,
2018–2025 (USD MILLION) 126
12.5.4 OTHER COUNTRIES OF ROW 126
TABLE 100 OTHER COUNTRIES OF ROW: SYNCHRONOUS CONDENSER MARKET SIZE,
BY COOLING TYPE, 2018–2025 (USD MILLION) 126
TABLE 101 OTHER COUNTRIES OF ROW: SYNCHRONOUS CONDENSER MARKET SIZE,
BY STARTING METHOD, 2018–2025 (USD MILLION) 127
TABLE 102 OTHER COUNTRIES OF ROW: SYNCHRONOUS CONDENSER MARKET SIZE,
BY END USER, 2018–2025 (USD MILLION) 127
TABLE 103 OTHER COUNTRIES OF ROW: SYNCHRONOUS CONDENSER MARKET SIZE,
BY REACTIVE POWER RATING (MVAR), 2018–2025 (USD MILLION) 127
TABLE 104 OTHER COUNTRIES OF ROW: SYNCHRONOUS CONDENSER MARKET SIZE,
BY TYPE, 2018–2025 (USD MILLION) 128
13 COMPETITIVE LANDSCAPE 129
13.1 OVERVIEW 129
FIGURE 43 KEY DEVELOPMENTS IN SYNCHRONOUS CONDENSER MARKET DURING JANUARY 2016–NOVEMBER 2020 129
13.2 MARKET SHARE ANALYSIS, 2019 130
FIGURE 44 MARKET SHARE ANALYSIS, 2019 130
13.3 MARKET EVALUATION FRAMEWORK 131
TABLE 105 MARKET EVALUATION FRAMEWORK 131
13.4 SYNCHRONOUS CONDENSER REVENUE ANALYSIS OF TOP 5 MARKET PLAYERS 132
FIGURE 45 TOP 5 PLAYERS HAVE DOMINATED MARKET IN LAST 5 YEARS 132
13.5 KEY MARKET DEVELOPMENTS 132
13.5.1 PRODUCT LAUNCHES 132
13.5.2 CONTRACTS & AGREEMENTS 133
13.5.3 COLLABORATIONS 133
13.5.4 MERGERS & ACQUISITIONS 133
14 COMPANY EVALUATION QUADRANT AND COMPANY PROFILES 134
14.1 COMPANY EVALUATION QUADRANT DEFINITIONS AND METHODOLOGY 134
14.1.1 STARS 134
14.1.2 INNOVATORS 134
14.1.3 PERVASIVE 134
14.1.4 EMERGING COMPANIES 134
FIGURE 46 SYNCHRONOUS CONDENSER MARKET COMPANY EVALUATION QUADRANT, 2019 135
14.1.5 PRODUCT FOOTPRINT ANALYSIS OF TOP PLAYERS 136
FIGURE 47 PRODUCT FOOTPRINT ANALYSIS OF TOP PLAYERS IN THE SYNCHRONOUS CONDENSER MARKET 136
14.2 COMPANY PROFILES 137
*Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments might not be captured in case of unlisted companies.
14.2.1 ABB 137
FIGURE 48 ABB: COMPANY SNAPSHOT 137
14.2.2 SIEMENS 141
FIGURE 49 SIEMENS: COMPANY SNAPSHOT 141
14.2.3 GE 144
FIGURE 50 GE: COMPANY SNAPSHOT 144
14.2.4 WEG 147
FIGURE 51 WEG: COMPANY SNAPSHOT 147
14.2.5 EATON 149
FIGURE 52 EATON: COMPANY SNAPSHOT 149
14.2.6 ANDRITZ 151
FIGURE 53 ANDRITZ: COMPANY SNAPSHOT 151
14.2.7 ANSALDO ENERGIA 153
FIGURE 54 ANSALDO ENERGIA: COMPANY SNAPSHOT 153
14.2.8 FUJI ELECTRIC 155
FIGURE 55 FUJI ELECTRIC: COMPANY SNAPSHOT 155
14.2.9 VOITH GROUP 157
FIGURE 56 VOITH GROUP: COMPANY SNAPSHOT 157
14.2.10 BHARAT HEAVY ELECTRICALS LIMITED (BHEL) 160
FIGURE 57 BHARAT HEAVY ELECTRICALS LIMITED (BHEL): COMPANY SNAPSHOT 160
14.2.11 IDEAL ELECTRIC POWER (HYUNDAI IDEAL ELECTRIC CO.) 162
14.2.12 SUSTAINABLE POWER SYSTEMS 163
14.2.13 POWER SYSTEMS & CONTROLS 164
14.2.14 BRUSH GROUP 165
14.2.15 ELECTROMECHANICAL ENGINEERING ASSOCIATES 166
(Business overview, Solutions offered, Recent developments, COVID-19 Related developments, MnM view, Key strengths/right to win, Strategic choices, Weaknesses and competitive threats)*
15 APPENDIX 167
15.1 INSIGHTS OF INDUSTRY EXPERTS 167
15.2 DISCUSSION GUIDE 168
15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 172
15.4 AVAILABLE CUSTOMIZATIONS 174
15.5 RELATED REPORTS 174
15.6 AUTHOR DETAILS 175
Synchronous Condenser Market by Cooling Type (Hydrogen, Air, Water),Type (New & Refurbished), Starting Method (Static Frequency Converter, Pony Motor), End User (Electrical Utilities & Industries), Reactive Power Rating, and Region-Global Forecast to 2025世界の同期コンデンサー市場予測：冷却種類別、種類別、始動方式別、エンドユーザー別、無効電力定格別、地域別 |
◆タイトル：Synchronous Condenser Market by Cooling Type (Hydrogen, Air, Water),Type (New & Refurbished), Starting Method (Static Frequency Converter, Pony Motor), End User (Electrical Utilities & Industries), Reactive Power Rating, and Region-Global Forecast to 2025
◆商品コード：EP4095
◆調査・発行会社：MarketsandMarkets
◆発行日：2021年1月15日
◆ページ数：170
◆レポート形式：PDF / 英語
◆納品方法：Eメール（受注後24時間以内）
◆調査対象地域：グローバル
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【レポートの概要】
◆商品コード：EP4095
◆調査・発行会社：MarketsandMarkets
◆発行日：2021年1月15日
◆ページ数：170
◆レポート形式：PDF / 英語
◆納品方法：Eメール（受注後24時間以内）
◆調査対象地域：グローバル
◆産業分野：電力
◆販売価格オプション（消費税別）
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※お支払金額は「換算金額（日本円）＋消費税＋配送料（Eメール納品は無料）」です。
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※商品の納品後、納品日＋5日以内に請求書を発行し、お客様宛に郵送いたしますので、請求書発行日より2ヶ月以内に銀行振込にて支払をお願いします。（振込先：三菱東京UFJ銀行/京橋支店/H&Iグローバルリサーチ株式会社）
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【レポートの概要】
| マーケッツアンドマーケッツ社は世界の同期コンデンサー市場規模が2020年508.4百万ドルから2025年574.0百万ドルまで、年平均2.5％成長すると予想しています。本市場調査資料では、同期コンデンサーの世界市場を広く調査・分析し、イントロダクション、調査手法、エグゼクティブサマリー、プレミアムインサイト、市場概要、新型コロナウイルス感染症の影響による同期コンデンサー市場の地域別シナリオ分析、冷却種類別（水素冷却、空気冷却、水冷却）分析、始動方式別（静的周波数変換器、ポニーモーター、その他）分析、無効電力定格（MVAR）別（同期コンデンサー100MVAR以下、同期コンデンサー100〜200MVAR、同期コンデンサー4200MVAR以上）分析、エンドユーザー別（電気ユーティリティ、工業）分析、種類別（新品同期コンデンサー、再生品同期コンデンサー）分析、地域別分析、競争状況、企業情報などを整理しました。 ・イントロダクション ・調査手法 ・エグゼクティブサマリー ・プレミアムインサイト ・市場概要 ・新型コロナウイルス感染症の影響による同期コンデンサー市場の地域別シナリオ分析 ・世界の同期コンデンサー市場規模：冷却種類別（水素冷却、空気冷却、水冷却） ・世界の同期コンデンサー市場規模：始動方式別（静的周波数変換器、ポニーモーター、その他） ・世界の同期コンデンサー市場規模：無効電力定格（MVAR）別（同期コンデンサー100MVAR以下、同期コンデンサー100〜200MVAR、同期コンデンサー4200MVAR以上） ・世界の同期コンデンサー市場規模：エンドユーザー別（電気ユーティリティ、工業） ・世界の同期コンデンサー市場規模：種類別（新品同期コンデンサー、再生品同期コンデンサー） ・世界の同期コンデンサー市場規模：地域別 ・競争状況 ・企業情報 |
“The global synchronous condenser market is projected to reach USD 574.0 million by 2025 from an estimated USD 508.4 million in 2020, at a CAGR of 2.5% during the forecast period.”
The increasing electrical power consumption and rising need to maximize transmission capacity are becoming increasingly important. Along with this, growing renewable-based power generation in the energy mix, retiring conventional power plants, and growing network of High-Voltage Direct Current (HVDC) has had a considerable effect on transmission grid stability. Synchronous condensers play a vital role by generating lagging and leading reactive power, helping to stabilize the transmission grid. It also offers several advantages over other substitutes such as no harmonics, short-circuits power capability, and inertia to the transmission grid among others.
“Synchronous condensers rated above 200 MVAr dominate the global market.”
The above 200 MVAr segment of synchronous condensers is expected to be the largest market, by reactive power rating, during the forecast period. This growth is evident owing to rising installations of synchronous condensers rated above 200 MVAr, especially in North America and Europe.
“Hydrogen cooled synchronous condensers is the fastest growing segment during the forecast period in the global synchronous condenser market.”
The hydrogen cooled synchronous condenser is estimated to be the fastest-growing during the forecast period. This growth is attributed to the adoption and efficiency of large-sized synchronous condensers for a reactive power rating of above 200 Mega Volt Amps (reactive) (MVAr).
“By starting method, static frequency converters segment is expected to dominate the global synchronous condenser market.”
Static frequency converters accounted for the largest share of the synchronous condenser market, it is also estimated to be the fastest-growing segment during the forecast period. Low installation costs and low noise features of static frequency converters are expected to boost their demand in the synchronous condenser market.
“North America to lead the global synchronous condensers market in terms of growth rate.”
The synchronous condensers market in North America is projected to grow at the fastest rate during the forecast period. The gradual phasing out of thermal power plants and increasing renewable power generation are driving the synchronous condensers market in the region.
Besides North America, Europe was one of the largest markets for synchronous condensers. The demand for synchronous condensers in Europe is mainly driven by rising HVDC network in the region.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.
The distribution of primary interviews is as follows:
By Company Type: Tier I–60%, Tier II–20%, and Tier III–20%
By Designation: C-Level–55%, Director Level–30%, and Others–15%
By Region: North America- 40%, Europe- 30%, South America- 15%, Rest of the World- 15%
Note: Others includes sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined on the basis of their total revenue as of 2017; Tier 1: USD 1 billion, Tier 2: from USD 1 billion to USD 500 million, and Tier 3: The global synchronous condenser market is dominated by a few major players that have a wide regional presence. The leading players in the synchronous condenser market are Siemens (Germany), GE(US), Eaton (Ireland), ABB (Switzerland), and WEG (Brazil). Research Coverage: Key benefits of buying the report:
The report defines, describes, and forecasts the global synchronous condenser market, by type, cooling type, reactive power rating, starting method, end user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include the analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the synchronous condenser market.
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the global synchronous condenser market comprehensively and provides the closest approximations of the revenues for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders understand competitors better and gain more insights to improve their position in the market. The competitive landscape section includes the new product developments, mergers & acquisitions, contracts & agreements, and partnerships & collaborations.
【レポートの目次】
| ★調査レポート[世界の同期コンデンサー市場予測：冷却種類別、種類別、始動方式別、エンドユーザー別、無効電力定格別、地域別] ( Synchronous Condenser Market by Cooling Type (Hydrogen, Air, Water),Type (New & Refurbished), Starting Method (Static Frequency Converter, Pony Motor), End User (Electrical Utilities & Industries), Reactive Power Rating, and Region-Global Forecast to 2025 / EP4095) 販売に関する免責事項 |
| [世界の同期コンデンサー市場予測：冷却種類別、種類別、始動方式別、エンドユーザー別、無効電力定格別、地域別] ( Synchronous Condenser Market by Cooling Type (Hydrogen, Air, Water),Type (New & Refurbished), Starting Method (Static Frequency Converter, Pony Motor), End User (Electrical Utilities & Industries), Reactive Power Rating, and Region-Global Forecast to 2025 / EP4095) についてEメールでお問い合わせ |
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