Fuel Cell Technology Global Market Report: Overview
A synchronous condenser is an identical device to a synchronous motor, whose main shaft is not interlinked with any other device but has free spin. Its main application is to adjust conditions on the electric power transmission grid. Voltage regulator controls its field to generate or absorb reactive power as needed to reduce the fluctuating grid’s voltage, or to improve power factor.
The key driving factors for Synchronous Condenser Market is the large-scale demand by utilities for high-capacity synchronous condensers, also power generated from renewable sources is of fluctuating nature and needs power factor correction to maintain voltage stability and durability of synchronous condenser among others.
The synchronous condenser system is expected to grow with the CAGR of approximately 2% from 2017 to 2023.
Industry Top Key Players:-
The key players of Synchronous Condensers Market are Siemens AG (Germany), General Electric (U.S.), Eaton Co. Plc. (Ireland), ABB Ltd. (Switzerland), Voith GmbH (Germany), Fuji Electric Co., Ltd. (Japan), Toshiba Corporation (Japan), Hyundai Ideal Electric Co. (U.S.), Sustainable Power Systems LLC. (USA), WEG Industries (Brazil), Electro Mechanical Engineering Associates (USA), Power Systems and Control (USA) among others.
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The global synchronous condenser market begins with the tendering for HVDC network and substations. The tender is then scrutinized by the contractors/manufacturers for new units or replacement of conventional power plants. The delivering services, in addition, accommodate a new synchronous condenser units, ancillary components for renovation or alteration. Further step is installation of new units or alteration to synchronous condenser mode. Repair and maintenance is the following step which includes scheduled maintenance, repairs, renovations and alterations.
The synchronous condensers market in North America is projected to grow at the fastest rate during the forecast period. Gradual termination of conventional thermal power plants and growing renewable power generation are driving the synchronous condensers market in the region. North America is followed by Europe. Requirement for synchronous condensers in Europe is mainly driven by growing HVDC network in the region.
- Geographical analysis across 15 countries.
- Profiling of 12 key market players
- In-depth analysis including SWOT analysis, and strategy information of related to report title
- Competitive landscape including emerging trends adopted by major companies
- Distributer & Supplier companies
- End Users
- Consultants and Investment bankers
- Government as well as Independent Regulatory Authorities.
- Product matrix which gives a detailed comparison of the market for different recycled product types.
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- Regulatory Landscape.
- Pricing Analysis.
- Macroeconomic Indicators.