Market Research Future published a research report on “Synchronous Condenser Market Research Report – Global Forecast till 2024” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2024.
Market Overview
The rise in electric power consumption globally is a primary factor that is contributing to the progress of the synchronous condenser market. Reports that appraise the energy and power industry has been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is anticipated to surge ahead with a 2 % CAGR in the forecast period.
The expansion of the electric power transmission grid around the world has further raised the scope for development of the synchronous condenser market. The growing demand for renewable energy is expected to further add to the progress of the synchronous condensers market. Furthermore, the surging demand for large scale utilities is further projected to motivate the synchronous condenser market in the coming period.
Competitive Analysis
The influence of governmental policies is motivating further development in the Synchronous Condenser Market. The uncertainty in the market is a critical factor that is driving the formulation of policies and plans that will be applied to drive market growth. The competitors are devoting their resources to ensure an optimum level of growth in the coming years. The competition level in the market is found to be conducive to the advancement of the players who are operating in the market. The need to capture a broader chunk of the profits is supporting the expansion of the market. The rise in the flow of international transactions between nations is further inspiring the progress of the market. The synergies being created between supply and demand forces in the market is expected to induce further growth of the market. The fluctuations in the currency are expected to stabilize and thus create a favorable impact on the market.
The significant contenders in the synchronous condensers market are General Electric (U.S.), Siemens AG (Germany), Eaton Co. Plc. (Ireland), Voith GmbH (Germany), ABB Ltd. (Switzerland), Toshiba Corporation (Japan), Hyundai Ideal Electric Co. (U.S.), WEG Industries (Brazil), Electro Mechanical Engineering Associates (USA), Fuji Electric Co., Ltd. (Japan), Sustainable Power Systems LLC. (USA), Power Systems and Control (USA) among others.
Segmental Analysis
The segmentation-based study of the synchronous condensers market is carried out on the basis of cooling type, reactive power rating, type, starting method, end-user, and region. Based on reactive power rating, the synchronous condensers market is segmented into, between 100-200 MVAr, up to 100 MVAr & above 200 MVAr. On the basis of the type of cooling, the market for synchronous condensers is segmented into air, hydrogen, and water. On the basis of type, the synchronous condensers market is segmented into new and refurbished. Based on the starting method, the synchronous condensers market is segmented into pony motor, static frequency converter, and others. By end-user, the synchronous condensers market comprises of electrical utilities and industries. On the basis of region, the synchronous condensers market comprises of North America, Europe, Asia-Pacific and Rest of World.
Detailed Regional Analysis
The regional study of the synchronous condensers market includes region such as North America, Europe, Asia-Pacific, and Rest of World. The North American region in the synchronous condensers market is expected to develop at the speediest rate throughout the forecast period. The gradual termination of regular thermal power plants and rising renewable power generation are compelling the synchronous condensers market in the region. The European region trails the North American region. The demand for synchronous condensers in the European region is primarily motivated by the increasing HVDC network in the region.
Global Synchronous Condenser market Following Details Segment by Table of Contents:
- Synchronous Condenser market Overview
- Manufacturers Profiles
- Synchronous Condenser market Competition, by Players
- Synchronous Condenser market Size by Regions
- North America Synchronous Condenser Revenue by Countries
- Europe Synchronous Condenser Revenue by Countries
- Asia-Pacific Synchronous Condenser Revenue by Countries
- South America Synchronous Condenser Revenue by Countries
- Middle East and Africa Revenue Synchronous Condenser by Countries
- Synchronous Condenser market Segment by Type
- Synchronous Condenser market Segment by Application
- Synchronous Condenser market Size Forecast to 2024
- Sales Channel, Distributors, Traders and Dealers
- Research Findings and Conclusion
- Appendix
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Media Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
