PUBLISHER: The Business Research Company | PRODUCT CODE: 1770096
PUBLISHER: The Business Research Company | PRODUCT CODE: 1770096
A synchronous condenser is a rotating electrical device used to deliver reactive power support and regulate voltage within power transmission systems. It plays a crucial role in grid stabilization by enhancing the power factor and managing load demand variations.
The primary types of synchronous condensers include new and refurbished units. A new synchronous condenser is a state-of-the-art electrical machine designed to provide reactive power support, stabilizing voltage and enhancing power quality in advanced power grids. Starting methods for these machines include static frequency converters, pony motors, and other techniques. They are available with various cooling systems, such as hydrogen-cooled, air-cooled, and water-cooled options. Reactive power capacities are typically categorized as up to 100 mega volt-amperes reactive (MVAR), between 100-200 MVAR, and above 200 MVAR. These condensers are utilized by a range of end-users, including utilities, industrial sectors, renewable energy companies, and others.
The synchronous condenser market research report is one of a series of new reports from The Business Research Company that provides synchronous condenser market statistics, including synchronous condenser industry global market size, regional shares, competitors with the synchronous condenser market share, synchronous condenser market segments, market trends, and opportunities, and any further data you may need to thrive in the synchronous condenser industry. This synchronous condenser market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The synchronous condenser market size has grown strongly in recent years. It will grow from $1.08 billion in 2024 to $1.14 billion in 2025 at a compound annual growth rate (CAGR) of 6.0%.The growth during the historic period can be credited to higher investments in modernizing power infrastructure, increasing energy consumption in developing nations, growing electricity demand driven by urbanization, a greater need for inertia in low-carbon power systems, and enhanced government support for grid stability initiatives.
The synchronous condenser market size is expected to see strong growth in the next few years. It will grow to $1.42 billion in 2029 at a compound annual growth rate (CAGR) of 5.7%.The growth in the forecast period can be attributed to the growing adoption of renewable energy sources, an increasing need for grid stability and frequency regulation, rising investments in power infrastructure, a higher demand for energy storage solutions, and a surge in demand for reactive power compensation. Key trends expected during this period include advancements in energy storage technologies, the development of advanced grid integration solutions, innovations in synchronous condenser design, the integration of artificial intelligence for monitoring, and continued innovation in power grid stability solutions.
The growing demand for renewable energy sources is anticipated to drive the expansion of the synchronous condenser market in the coming years. Renewable energy sources are naturally replenishing resources such as solar, wind, hydro, geothermal, and biomass used for sustainable energy generation. This increasing reliance on renewables is largely due to efforts aimed at lowering greenhouse gas emissions and reducing dependence on fossil fuels, thereby addressing climate change, improving energy security, and promoting sustainable development. Synchronous condensers contribute to grid stability by supplying reactive power and regulating voltage, which facilitates the integration of intermittent renewable energy sources like wind and solar into the grid. For example, in December 2024, Eurostat, a government agency based in Luxembourg, reported that renewable energy accounted for 24.5% of energy consumption in the EU in 2023, up from 23.0% in 2022. Thus, the growing demand for renewable energy sources is boosting the synchronous condenser market.
Leading players in the synchronous condenser market are concentrating on creating advanced products such as high-efficiency, compact systems with improved grid stabilization features to facilitate renewable energy integration and enhance grid reliability. These systems offer benefits such as better energy efficiency, reduced space needs, and consistent grid performance amid fluctuating renewable energy inputs. For instance, in June 2024, ANDRITZ AG, an Austria-based industrial machinery company, introduced synchronous condensers in India, a major initiative aimed at improving grid stability and supporting the country's renewable energy transition. The launch event, titled "Synchronous Condensers - Enabling Green Energy Transition," was attended by senior representatives from prominent Indian power sector organizations including the Central Electricity Authority (CEA), Grid India, and the Northern Regional Power Committee (NRPC). ANDRITZ emphasized the rising global demand for synchronous condenser technology, which plays a vital role in stabilizing power systems by managing voltage and reactive power, particularly as countries like India integrate more wind and solar energy.
In August 2022, Baker Hughes Holdings LLC, a U.S.-based energy company, acquired the power generation division of BRUSH Group for an undisclosed sum. This acquisition is intended to strengthen Baker Hughes' electrification capabilities and broaden its turbomachinery offerings by incorporating proven electric power technologies, aligning with its strategic aim to provide cleaner energy solutions for industrial and energy sectors. BRUSH Group, based in Loughborough, specializes in manufacturing appliances and electrical components, including synchronous condensers.
Major players in the synchronous condenser market are Hitachi Energy Ltd., General Electric Company, Siemens Energy AG, ABB Ltd., Toshiba International Corporation Pty Ltd., Baker Hughes Company, Eaton Corporation plc, Shanghai Electric Group Company Limited, ANDRITZ AG, Fuji Electric Co. Ltd., WEG S.A., Voith Group, Bharat Heavy Electricals Limited (BHEL), Hyosung Heavy Industries Corporation, Ansaldo Energia S.p.A., Ingeteam S.A., Mitsubishi Electric Power Products Inc., Ideal Electric Power Co., Power Systems And Controls Inc., NR Electric Co. Ltd.
North America was the largest region in the synchronous condenser market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in synchronous condenser report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the synchronous condenser market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The synchronous condenser market consists of sales of brushless excitation systems, hydraulic static starters, high voltage circuit breakers, protection relays and monitoring systems, automatic voltage regulators, rotor and stator assemblies. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Synchronous Condenser Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on synchronous condenser market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for synchronous condenser ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The synchronous condenser market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.