Global Synchronous Condenser Market Size, Growth, Opportunities Analysis & Forecast to 2030Posted by Karthik Pilla on August 2nd, 2022
Bharat Book Bureau Provides the Trending Market Research Report on “Synchronous Condenser Market by Cooling Type (Hydrogen-Cooles, Air-Cooled, Water-Cooled), Type (New & Refurbished), Starting Method (Static Frequency Converter, Pony Motor), End-User, Reactive Power Rating and Region - Global Forecast to 2030” under Energy Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
The global Synchronous Condenser Market is projected to grow from USD 661 million in 2022 to USD 811 million by 2030, registering a CAGR of 2.6% during the review period. The developments in the power transmission and distribution networks to maintain grid operations and the increasing investments in expanding the renewable energy capacities are the key factors driving the growth of the synchronous condenser market. “New Synchronous Condenser: is expected to be the largest segment synchronous condenser market, by type“ The type segment is categorized as New Synchronous Condenser and refurbished synchronous condenser. A new synchronous condenser is constructed with 2 or 4 poles (2-pole pair), which can be cooled with hydrogen, air, and water. With the globally expanding HVDC network, countries such as Canada, Brazil, and Italy have deployed new synchronous condensers for stabilizing and improving transmission systems’ stability and strength. Besides, they are also being deployed to control voltage fluctuations and provide reactive power support. The Synchronous Condenser market has been segmented into hydrogen cooled synchronous condenser, Air cooled synchronous condenser and Water cooled synchronous condenser. The hydrogen-cooled synchronous condenser uses gaseous hydrogen as a coolant because of its superior cooling properties. It exhibits low density, high specific heat, and high thermal conductivity features. The hydrogen-cooled synchronous condenser has 1.5 times higher heat transfer capability and 1/14th the density than its air-cooled counterpart, resulting in fewer friction losses and faster cooling. Hydrogen-cooled synchronous condensers can be operated at a higher load with the same temperature rise, and the windage loss is lower than air-cooled synchronous condensers. “North America is expected to account for the largest market size during the forecast period.” North America is expected to be the largest market during the forecast period. North America has aging power infrastructures, which may increase the risk of blackouts. Therefore, governments of different countries in this region are actively focusing on upgrading and replacing aging infrastructures to improve grid reliability and resilience and develop smart electricity networks. The North American power sector is currently facing challenges such as meeting energy-efficiency targets, compliance with federal carbon policies, and integrating various distributed generation sources in the grid. Breakdown of Primaries: By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11% Note: Others include product engineers, product specialists, and engineering leads. Research Coverage: Key Benefits of Buying the Report
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