Synchronous Condenser Market by Cooling Type (Hydrogen, Air, and Water), Reactive Power Rating (Up to 100 MVAr, 100-200 MVAr, & Above 200 MVAr), Type, Starting Method (Static Frequency Converter, Pony Motor), End User, and Region - Global Forecast to 2021

Published by MarketsandMarkets on 7th February 2017 | Ref: 190172 | This Product Is In Stock

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$5650 | Single User
$6650 | Multi User
$8150 | Corporate License
$10000 | Enterprise License

Introduction

“The synchronous condensers market is expected to reach USD 572.9 million by 2021, at a CAGR of 2.1% from 2016 to 2021”

The synchronous condensers market is projected to reach USD 572.9 million by 2021, growing at a CAGR of 2.1% from 2016 to 2021. 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 and helping to stabilize the transmission grid. It also offers several advantages over the other substitutes such as no harmonics, short-circuit power capability, and inertia to the transmission grid among others.

On the other hand, high cost of equipment and availability of low-cost alternatives are the major factors restraining the growth of the synchronous condenser market.

“Synchronous condensers rated above 200 MVAr dominate the global market”

Synchronous condensers rated above 200 MVAr held the largest market share in 2015, and is expected to be the fastest growing segment in the synchronous condensers market from 2016 to 2021. 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 dominate the global market”

Hydrogen-cooled synchronous condenser segment held the largest market share in 2015, and is expected to be the fastest growing segment in the synchronous condensers market from 2016 to 2021. This growth is attributed to the adoption and efficiency of large-sized synchronous condensers for reactive power rating of above 200 Mega Volt Amps (reactive) (MVAr).

“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. Gradual phasing out of thermal power plants and increasing renewable power generation are driving the synchronous condensers market in the region. North America is followed by Europe. 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 1- 69%, Tier 2- 22%, Tier 3- 9%

By Designation: C-Level- 35%, D-Level- 38%, Others- 27%

By Region: North America- 52%, Europe- 29%, Asia-Pacific- 8%, Rest of the World- 11%

Note: *Others include sales managers, marketing managers, and product managers

The tier of the companies is defined based on their total revenue, as of 2013: Tier 1 = >USD 10 billion, Tier 2 = from USD 1 billion to USD 10 billion and Tier 3 =

Leading players of this industry have been profiled with their recent developments and other strategic activities. These include Siemens AG (Germany), General Electric Company (U.S.), Eaton Corporation (Ireland), ABB Ltd. (Switzerland), and Voith GmbH (Germany).

Research Coverage:

The report provides a picture on the synchronous condenser market across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments, such as type, cooling type, end-user, starting method, reactive power rating, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.

Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall synchronous condenser market and its subsegments. This report will help stakeholders to better understand the competitive landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.

Why buy this report?

1. The report identifies and addresses key markets for synchronous condensers which is useful for suppliers, OEMs, and Utilities to review production and distribution plans.

2. The report helps manufacturers to understand the pulse of the market and provides insights on drivers, restraints, and challenges.

3. The report will help OEMs to better understand the competition strategies and will help in making strategic decisions.

Table of Contents

TABLE OF CONTENTS

1 INTRODUCTION 14

1.1 OBJECTIVES OF THE STUDY 14

1.2 MARKET DEFINITION 14

1.3 MARKET SCOPE 15

1.4 CURRENCY 17

1.5 LIMITATIONS 17

1.6 STAKEHOLDERS 17

2 RESEARCH METHODOLOGY 18

2.1 RESEARCH DATA 18

2.2 MARKET SIZE ESTIMATION 22

2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 24

2.4 RESEARCH ASSUMPTIONS & LIMITATIONS 25

3 EXECUTIVE SUMMARY 26

3.1 INTRODUCTION 26

3.2 CURRENT SCENARIO 26

3.3 FUTURE OUTLOOK 28

3.4 CONCLUSION 31

4 PREMIUM INSIGHTS 32

4.1 SYNCHRONOUS CONDENSER MARKET, BY COOLING TYPE 32

4.2 SYNCHRONOUS CONDENSER MARKET, BY TYPE 33

4.3 SYNCHRONOUS CONDENSER MARKET, BY COOLING TYPE 33

4.4 SYNCHRONOUS CONDENSER MARKET: REACTIVE POWER RATING VS. STARTING METHOD 34

4.5 ELECTRICAL UTILITIES ARE EXPECTED TO DOMINATE THE GLOBAL SYNCHRONOUS CONDENSER MARKET DURING THE FORECAST PERIOD 35

5 MARKET OVERVIEW 36

5.1 INTRODUCTION 37

5.2 MARKET SEGMENTATION 37

5.3 MARKET DYNAMICS 40

6 SYNCHRONOUS CONDENSER MARKET, BY COOLING TYPE 46

6.1 INTRODUCTION 47

6.2 HYDROGEN-COOLED SYNCHRONOUS CONDENSER MARKET 48

6.3 AIR-COOLED SYNCHRONOUS CONDENSER MARKET 48

6.4 WATER-COOLED SYNCHRONOUS CONDENSER MARKET 49

7 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 50

7.1 INTRODUCTION 51

7.2 STATIC FREQUENCY CONVERTER 52

7.3 PONY MOTOR 52

7.4 OTHERS 53

8 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING (MVAR) 54

8.1 INTRODUCTION 55

8.2 SYNCHRONOUS CONDENSER WITH REACTIVE POWER RATING UP TO 100 MVAR 56

8.3 SYNCHRONOUS CONDENSER WITH REACTIVE POWER RATING BETWEEN 100 MVAR–200 MVAR 56

8.4 SYNCHRONOUS CONDENSER WITH REACTIVE POWER RATING ABOVE 200 MVAR 57

9 SYNCHRONOUS CONDENSER MARKET, BY END-USER 58

9.1 INTRODUCTION 59

9.2 ELECTRICAL UTILITIES 60

9.3 INDUSTRIES 61

10 SYNCHRONOUS CONDENSER MARKET, BY TYPE 62

10.1 INTRODUCTION 63

10.2 NEW SYNCHRONOUS CONDENSER 64

10.3 REFURBISHED SYNCHRONOUS CONDENSER 64

11 SYNCHRONOUS CONDENSER MARKET, BY REGION 65

11.1 INTRODUCTION 66

11.2 NORTH AMERICA 67

11.3 EUROPE 73

11.4 SOUTH AMERICA 82

11.5 REST OF THE WORLD 87

12 COMPETITIVE LANDSCAPE 93

12.1 OVERVIEW 94

12.2 COMPETITIVE SITUATION AND TRENDS 95

12.3 MARKET SHARE ANALYSIS, HYBRID POWER SOLUTIONS MARKET (BY KEY PLAYERS) 96

12.4 CONTRACTS AND AGREEMENTS 96

12.5 EXPANSIONS & INVESTMENTS 97

12.6 MERGERS & ACQUISITIONS 98

13 COMPANY PROFILES 99

(Overview, Products & Services, Strategies & Insights, Developments and MnM View)*

13.1 INTRODUCTION 99

13.2 ABB LTD. 100

13.3 SIEMENS AG 103

13.4 EATON CORPORATION PLC. 107

13.5 GENERAL ELECTRIC COMPANY 110

13.6 FUJI ELECTRIC CO. LTD. 113

13.7 TOSHIBA CORPORATION 115

13.8 VOITH GMBH 117

13.9 HYUNDAI IDEAL ELECTRIC CO. 119

13.10 SUSTAINABLE POWER SYSTEMS INC. 120

13.11 WEG SA 121

13.12 ELECTROMECHANICAL ENGINEERING ASSOCIATES, INC. 123

13.13 POWER SYSTEMS AND CONTROL, INC 124

*Details on Overview, Products & Services, Strategies & Insights, Developments and MnM View might not be captured in case of unlisted companies.

14 APPENDIX 125

14.1 INSIGHTS OF INDUSTRY EXPERTS 125

14.2 DISCUSSION GUIDE 126

14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 130

14.5 AVAILABLE CUSTOMIZATIONS 133

14.6 RELATED REPORTS 133

14.7 AUTHOR DETAILS 134

Additional Details

Publisher

MarketsandMarkets

Publisher Information

Reference

190172 | EP 4095

Number of Pages

136

Report Format

PDF

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