Market Research Report
North America Synchronous Condenser Market By Cooling Type, By Starting Method, By End-User, By Reactive Power Rating, By Country, Competition, Forecast & Opportunities, 2025
|North America Synchronous Condenser Market By Cooling Type, By Starting Method, By End-User, By Reactive Power Rating, By Country, Competition, Forecast & Opportunities, 2025|
Published: May 1, 2020
Content info: 87 Pages
Delivery time: 2-3 business days
The North America synchronous condenser market is expected to grow at a steady rate during the forecast period. Major factors anticipated to drive the growth of North America synchronous condenser market include surging requirement for power factor correction and rising demand for renewable power generation. Moreover, growing renewable-based power generation in the energy mix is fuelling the market growth in the region. Additionally, a synchronous condenser is very helpful in stabilizing the transmission grid by generating lagging and leading reactive power, thereby fueling the market growth. However, high maintenance and equipment cost of synchronous condenser because of extensive use of expensive raw materials like copper and aluminium might act as a major impediment to the market growth during the forecast period.
North America synchronous condenser market can be segmented based on cooling type, starting method, end user, reactive power rating and country. By cooling type, the synchronous condenser market is segmented into hydrogen-cooled, air-cooled and water-cooled. Among them, hydrogen-cooled synchronous condensers dominated the market in terms of largest market share until 2019 and is anticipated to maintain its lead during the forecast years as well, which is attributable to extensive adoption of large-sized synchronous condensers ranging between 100 MVAr and 300 MVAr capacity in which hydrogen cooling is an efficient option.
Major players in the North America synchronous condenser market include Siemens AG, ABB Ltd, Sustainable Power Systems Inc, Eaton Corporation PLC, Power Systems and Control Inc, WEG SA, Fuji Electric Co. Ltd, General Electric Company, Electromechanical Engineering Associates Inc., Hyundai Ideal Electric Co, etc. The key players in the market are using strategies such as launch of new products, merges and acquisitions to increase their customer bases and expand their share in the market.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of synchronous condenser manufacturers across the region. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product types, application types and presence of all major synchronous condenser manufacturers across the region.
TechSci Research calculated North America synchronous condenser market size using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as hazard control system manufacturers and partners, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, North America synchronous condenser market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Static Frequency Converter
Up to 100 MVAr
100 MVAR-200 MVAr
Above 200 MVAr
Company Profiles: Detailed analysis of the major companies present in North America synchronous condenser market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Profit Margin Analysis