The North America Synchronous Condenser Market would witness market growth of 2.4% CAGR during the forecast period (2022-2028).
When the motor is overexcited and operated at no load, the current it draws trails the voltage by almost 90 degrees. As a result, it acts like a capacitor when functioning, which is why the synchronous motor is also known as a synchronous capacitor. A synchronous condenser is employed in systems for power transmission to control line voltage because it functions similarly to a variable inductor or variable capacitor.
The transmission grid's supply is kept steady by synchronous condensers. Additionally, they can give voltage support, dynamic regulation, and reactive power generation and absorption. Additionally, a lot of renewable energy sources are dispersed across a large area and supply power to a single radial line. Close to the connecting point, synchronous condensers might be installed to contribute more short-circuit power to the grid.
In the United States, the adoption of renewable energy is significantly high. According to the United States Energy Information Administration, renewable energy sources generated a peak of 834 billion kilowatt-hours (kWh) of electricity in 2020 or nearly 21% of all the electricity produced in the United States. These sources include wind, solar, biomass, hydroelectric, and geothermal energy. In the United States in 2020, only natural gas (1,617 billion kWh) generated more electricity than renewables.
The US market dominated the North America Synchronous Condenser Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $169.9 million by 2028. The Canada market is poised to grow at a CAGR of 4.7% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 3.8% during (2022 - 2028).
Based on Reactive Power rating, the market is segmented into Above 200 MVAr, 101–200 MVAr, and Up to 100 MVAr. Based on Starting Method, the market is segmented into Static Frequency Converter, Pony Motor, and Others. Based on Cooling Technology, the market is segmented into Hydrogen-Cooled, Air-Cooled, and Water-Cooled. Based on Installation Type, the market is segmented into New and Refurbished. Based on End User, the market is segmented into Electrical Utilities and Industrial Sector. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Synchronous Condenser Market is Estimated to reach $676.9 Million by 2028, at a CAGR of 2.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, General Electric (GE) Co., ANDRITZ Group, WEG Equipamentos Elétricos S.A., Fuji Electric Co., Ltd., Mitsubishi Heavy Industries Ltd., Siemens Energy AG, Eaton Corporation PLC, Bharat Heavy Electricals Ltd., and Ansaldo Energia S.p.A.
Scope of the Study
Market Segments Covered in the Report:
By Reactive Power rating
- Above 200 MVAr
- 101–200 MVAr
- Up to 100 MVAr
By Starting Method
- Static Frequency Converter
- Pony Motor
- Others
By Cooling Technology
- Hydrogen-Cooled
- Air-Cooled
- Water-Cooled
By Installation Type
By End User
- Electrical Utilities
- Industrial Sector
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- ABB Group
- General Electric (GE) Co.
- ANDRITZ Group
- WEG Equipamentos Elétricos S.A.
- Fuji Electric Co., Ltd.
- Mitsubishi Heavy Industries Ltd.
- Siemens Energy AG
- Eaton Corporation PLC
- Bharat Heavy Electricals Ltd.
- Ansaldo Energia S.p.A.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Synchronous Condenser Market, by Reactive Power rating
1.4.2 North America Synchronous Condenser Market, by Starting Method
1.4.3 North America Synchronous Condenser Market, by Cooling Technology
1.4.4 North America Synchronous Condenser Market, by Installation Type
1.4.5 North America Synchronous Condenser Market, by End User
1.4.6 North America Synchronous Condenser Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies deployed in Synchronous Condenser Market
Chapter 4. North America Synchronous Condenser Market by Reactive Power rating
4.1 North America Above 200 MVAr Market by Country
4.2 North America 101–200 MVAr Market by Country
4.3 North America Up to 100 MVAr Market by Country
Chapter 5. North America Synchronous Condenser Market by Starting Method
5.1 North America Static Frequency Converter Market by Country
5.2 North America Pony Motor Market by Country
5.3 North America Others Market by Country
Chapter 6. North America Synchronous Condenser Market by Cooling Technology
6.1 North America Hydrogen-Cooled Market by Country
6.2 North America Air-Cooled Market by Country
6.3 North America Water-Cooled Market by Country
Chapter 7. North America Synchronous Condenser Market by Installation Type
7.1 North America New Market by Country
7.2 North America Refurbished Market by Country
Chapter 8. North America Synchronous Condenser Market by End User
8.1 North America Electrical Utilities Market by Country
8.2 North America Industrial Sector Market by Country
Chapter 9. North America Synchronous Condenser Market by Country
9.1 US Synchronous Condenser Market
9.1.1 US Synchronous Condenser Market by Reactive Power rating
9.1.2 US Synchronous Condenser Market by Starting Method
9.1.3 US Synchronous Condenser Market by Cooling Technology
9.1.4 US Synchronous Condenser Market by Installation Type
9.1.5 US Synchronous Condenser Market by End User
9.2 Canada Synchronous Condenser Market
9.2.1 Canada Synchronous Condenser Market by Reactive Power rating
9.2.2 Canada Synchronous Condenser Market by Starting Method
9.2.3 Canada Synchronous Condenser Market by Cooling Technology
9.2.4 Canada Synchronous Condenser Market by Installation Type
9.2.5 Canada Synchronous Condenser Market by End User
9.3 Mexico Synchronous Condenser Market
9.3.1 Mexico Synchronous Condenser Market by Reactive Power rating
9.3.2 Mexico Synchronous Condenser Market by Starting Method
9.3.3 Mexico Synchronous Condenser Market by Cooling Technology
9.3.4 Mexico Synchronous Condenser Market by Installation Type
9.3.5 Mexico Synchronous Condenser Market by End User
9.4 Rest of North America Synchronous Condenser Market
9.4.1 Rest of North America Synchronous Condenser Market by Reactive Power rating
9.4.2 Rest of North America Synchronous Condenser Market by Starting Method
9.4.3 Rest of North America Synchronous Condenser Market by Cooling Technology
9.4.4 Rest of North America Synchronous Condenser Market by Installation Type
9.4.5 Rest of North America Synchronous Condenser Market by End User
Chapter 10. Company Profiles
10.1 ABB Group
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expense
10.1.5 Recent strategies and developments:
10.1.5.1 Partnerships, Collaborations, and Agreements:
10.1.6 SWOT Analysis
10.2 General Electric (GE) Co.
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expense
10.2.5 Recent strategies and developments:
10.2.5.1 Partnerships, Collaborations, and Agreements:
10.2.6 SWOT Analysis
10.3 ANDRITZ Group
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental & Regional Analysis
10.3.4 Segmental Analysis
10.3.5 Research & Development Expense
10.3.6 Recent strategies and developments:
10.3.6.1 Partnerships, Collaborations, and Agreements:
10.4 WEG Equipamentos Elétricos S.A.
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Regional Analysis
10.4.4 Recent strategies and developments:
10.4.4.1 Acquisition and Mergers:
10.5 Fuji Electric Co. Ltd.
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Research & Development Expense
10.6 Mitsubishi Heavy Industries Ltd.
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Segmental Analysis
10.6.4 Research & Development Expenses
10.7 Siemens Energy AG
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Segmental and Regional Analysis
10.7.4 Research & Development Expenses
10.8 Eaton Corporation PLC
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Segmental Analysis
10.8.4 Research & Development Expense
10.9 Bharat Heavy Electricals Ltd.
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Segmental Analysis
10.10. Ansaldo Energia S.p.A.
10.10.1 Company Overview
10.10.2 Financial Analysis
10.10.3 Regional Analysis
TABLE 1 North America Synchronous Condenser Market, 2018 - 2021, USD Million
TABLE 2 North America Synchronous Condenser Market, 2022 - 2028, USD Million
TABLE 3 North America Synchronous Condenser Market by Reactive Power rating, 2018 - 2021, USD Million
TABLE 4 North America Synchronous Condenser Market by Reactive Power rating, 2022 - 2028, USD Million
TABLE 5 North America Above 200 MVAr Market by Country, 2018 - 2021, USD Million
TABLE 6 North America Above 200 MVAr Market by Country, 2022 - 2028, USD Million
TABLE 7 North America 101–200 MVAr Market by Country, 2018 - 2021, USD Million
TABLE 8 North America 101–200 MVAr Market by Country, 2022 - 2028, USD Million
TABLE 9 North America Up to 100 MVAr Market by Country, 2018 - 2021, USD Million
TABLE 10 North America Up to 100 MVAr Market by Country, 2022 - 2028, USD Million
TABLE 11 North America Synchronous Condenser Market by Starting Method, 2018 - 2021, USD Million
TABLE 12 North America Synchronous Condenser Market by Starting Method, 2022 - 2028, USD Million
TABLE 13 North America Static Frequency Converter Market by Country, 2018 - 2021, USD Million
TABLE 14 North America Static Frequency Converter Market by Country, 2022 - 2028, USD Million
TABLE 15 North America Pony Motor Market by Country, 2018 - 2021, USD Million
TABLE 16 North America Pony Motor Market by Country, 2022 - 2028, USD Million
TABLE 17 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 18 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 19 North America Synchronous Condenser Market by Cooling Technology, 2018 - 2021, USD Million
TABLE 20 North America Synchronous Condenser Market by Cooling Technology, 2022 - 2028, USD Million
TABLE 21 North America Hydrogen-Cooled Market by Country, 2018 - 2021, USD Million
TABLE 22 North America Hydrogen-Cooled Market by Country, 2022 - 2028, USD Million
TABLE 23 North America Air-Cooled Market by Country, 2018 - 2021, USD Million
TABLE 24 North America Air-Cooled Market by Country, 2022 - 2028, USD Million
TABLE 25 North America Water-Cooled Market by Country, 2018 - 2021, USD Million
TABLE 26 North America Water-Cooled Market by Country, 2022 - 2028, USD Million
TABLE 27 North America Synchronous Condenser Market by Installation Type, 2018 - 2021, USD Million
TABLE 28 North America Synchronous Condenser Market by Installation Type, 2022 - 2028, USD Million
TABLE 29 North America New Market by Country, 2018 - 2021, USD Million
TABLE 30 North America New Market by Country, 2022 - 2028, USD Million
TABLE 31 North America Refurbished Market by Country, 2018 - 2021, USD Million
TABLE 32 North America Refurbished Market by Country, 2022 - 2028, USD Million
TABLE 33 North America Synchronous Condenser Market by End User, 2018 - 2021, USD Million
TABLE 34 North America Synchronous Condenser Market by End User, 2022 - 2028, USD Million
TABLE 35 North America Electrical Utilities Market by Country, 2018 - 2021, USD Million
TABLE 36 North America Electrical Utilities Market by Country, 2022 - 2028, USD Million
TABLE 37 North America Industrial Sector Market by Country, 2018 - 2021, USD Million
TABLE 38 North America Industrial Sector Market by Country, 2022 - 2028, USD Million
TABLE 39 North America Synchronous Condenser Market by Country, 2018 - 2021, USD Million
TABLE 40 North America Synchronous Condenser Market by Country, 2022 - 2028, USD Million
TABLE 41 US Synchronous Condenser Market, 2018 - 2021, USD Million
TABLE 42 US Synchronous Condenser Market, 2022 - 2028, USD Million
TABLE 43 US Synchronous Condenser Market by Reactive Power rating, 2018 - 2021, USD Million
TABLE 44 US Synchronous Condenser Market by Reactive Power rating, 2022 - 2028, USD Million
TABLE 45 US Synchronous Condenser Market by Starting Method, 2018 - 2021, USD Million
TABLE 46 US Synchronous Condenser Market by Starting Method, 2022 - 2028, USD Million
TABLE 47 US Synchronous Condenser Market by Cooling Technology, 2018 - 2021, USD Million
TABLE 48 US Synchronous Condenser Market by Cooling Technology, 2022 - 2028, USD Million
TABLE 49 US Synchronous Condenser Market by Installation Type, 2018 - 2021, USD Million
TABLE 50 US Synchronous Condenser Market by Installation Type, 2022 - 2028, USD Million
TABLE 51 US Synchronous Condenser Market by End User, 2018 - 2021, USD Million
TABLE 52 US Synchronous Condenser Market by End User, 2022 - 2028, USD Million
TABLE 53 Canada Synchronous Condenser Market, 2018 - 2021, USD Million
TABLE 54 Canada Synchronous Condenser Market, 2022 - 2028, USD Million
TABLE 55 Canada Synchronous Condenser Market by Reactive Power rating, 2018 - 2021, USD Million
TABLE 56 Canada Synchronous Condenser Market by Reactive Power rating, 2022 - 2028, USD Million
TABLE 57 Canada Synchronous Condenser Market by Starting Method, 2018 - 2021, USD Million
TABLE 58 Canada Synchronous Condenser Market by Starting Method, 2022 - 2028, USD Million
TABLE 59 Canada Synchronous Condenser Market by Cooling Technology, 2018 - 2021, USD Million
TABLE 60 Canada Synchronous Condenser Market by Cooling Technology, 2022 - 2028, USD Million
TABLE 61 Canada Synchronous Condenser Market by Installation Type, 2018 - 2021, USD Million
TABLE 62 Canada Synchronous Condenser Market by Installation Type, 2022 - 2028, USD Million
TABLE 63 Canada Synchronous Condenser Market by End User, 2018 - 2021, USD Million
TABLE 64 Canada Synchronous Condenser Market by End User, 2022 - 2028, USD Million
TABLE 65 Mexico Synchronous Condenser Market, 2018 - 2021, USD Million
TABLE 66 Mexico Synchronous Condenser Market, 2022 - 2028, USD Million
TABLE 67 Mexico Synchronous Condenser Market by Reactive Power rating, 2018 - 2021, USD Million
TABLE 68 Mexico Synchronous Condenser Market by Reactive Power rating, 2022 - 2028, USD Million
TABLE 69 Mexico Synchronous Condenser Market by Starting Method, 2018 - 2021, USD Million
TABLE 70 Mexico Synchronous Condenser Market by Starting Method, 2022 - 2028, USD Million
TABLE 71 Mexico Synchronous Condenser Market by Cooling Technology, 2018 - 2021, USD Million
TABLE 72 Mexico Synchronous Condenser Market by Cooling Technology, 2022 - 2028, USD Million
TABLE 73 Mexico Synchronous Condenser Market by Installation Type, 2018 - 2021, USD Million
TABLE 74 Mexico Synchronous Condenser Market by Installation Type, 2022 - 2028, USD Million
TABLE 75 Mexico Synchronous Condenser Market by End User, 2018 - 2021, USD Million
TABLE 76 Mexico Synchronous Condenser Market by End User, 2022 - 2028, USD Million
TABLE 77 Rest of North America Synchronous Condenser Market, 2018 - 2021, USD Million
TABLE 78 Rest of North America Synchronous Condenser Market, 2022 - 2028, USD Million
TABLE 79 Rest of North America Synchronous Condenser Market by Reactive Power rating, 2018 - 2021, USD Million
TABLE 80 Rest of North America Synchronous Condenser Market by Reactive Power rating, 2022 - 2028, USD Million
TABLE 81 Rest of North America Synchronous Condenser Market by Starting Method, 2018 - 2021, USD Million
TABLE 82 Rest of North America Synchronous Condenser Market by Starting Method, 2022 - 2028, USD Million
TABLE 83 Rest of North America Synchronous Condenser Market by Cooling Technology, 2018 - 2021, USD Million
TABLE 84 Rest of North America Synchronous Condenser Market by Cooling Technology, 2022 - 2028, USD Million
TABLE 85 Rest of North America Synchronous Condenser Market by Installation Type, 2018 - 2021, USD Million
TABLE 86 Rest of North America Synchronous Condenser Market by Installation Type, 2022 - 2028, USD Million
TABLE 87 Rest of North America Synchronous Condenser Market by End User, 2018 - 2021, USD Million
TABLE 88 Rest of North America Synchronous Condenser Market by End User, 2022 - 2028, USD Million
TABLE 89 Key Information – ABB Group
TABLE 90 Key Information – General Electric (GE) Co.
TABLE 91 Key Information – ANDRITZ Group
TABLE 92 Key Information – WEG Equipamentos Elétricos S.A.
TABLE 93 Key Information – Fuji Electric Co., Ltd.
TABLE 94 Key Information – Mitsubishi Heavy Industries Ltd.
TABLE 95 Key Information – Siemens Energy AG
TABLE 96 key information – Eaton Corporation PLC
TABLE 97 Key information – Bharat Heavy Electricals Ltd.
TABLE 98 Key Information – Ansaldo Energia S.p.A.
List of Figures
FIG 1 Methodology for the research
FIG 2 SWOT Analysis: ABB Group
FIG 3 Swot analysis: General electric (GE) Co.