Synchronous Condenser Market will rise due to increasing penetration of renewable energy sources - GIS Reports

New York, Global Synchronous Condenser Market report from Global Insight Services is the single authoritative source of intelligence on Synchronous Condenser Market . The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Synchronous condensers are large rotating electrical machines that function like an over-sized generator without an attached prime mover such as a turbine or reciprocating engine. The synchronous condenser typically has a large, direct-current field winding on the stator, and the rotor is an over-sized AC synchronous motor. The direct-current field winding is excited from an external source of direct current, and the rotor is mechanically coupled to the grid.

Key Trends

Synchronous condenser technology is constantly evolving to meet the needs of the power grid. Some of the key trends include:

1. Increasing the power rating of synchronous condensers: As the power grid becomes more complex and demands higher levels of reliability, synchronous condensers must be able to provide more power to maintain grid stability.

2. Improving the efficiency of synchronous condensers: More efficient synchronous condensers can help utilities save money and reduce environmental impacts.

3. Developing new applications for synchronous condensers: Synchronous condensers are being used in a variety of new applications, such as wind and solar power integration, to help the power grid operate more efficiently.

4. Enhancing grid resilience with synchronous condensers: As the power grid becomes more vulnerable to extreme weather and other disruptions, synchronous condensers can provide an important source of backup power to help maintain grid stability.

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Key Drivers

The key drivers of the synchronous condenser market include the increasing demand for electricity, the need for improved grid stability, and the need for reactive power compensation.

The demand for electricity is increasing globally, due to population growth and economic development. This increase in demand is putting pressure on existing power generation capacity, leading to the need for new power plants. Synchronous condensers can be used to provide additional generating capacity, and can also help to improve the stability of the power grid.

The need for improved grid stability is driven by the increasing penetration of renewable energy sources, such as wind and solar. These intermittent sources can lead to fluctuations in the power grid, which can be mitigated by the use of synchronous condensers.

The need for reactive power compensation is driven by the increasing use of high-voltage direct current (HVDC) transmission. HVDC transmission systems require reactive power to maintain their voltage, and synchronous condensers can provide this reactive power.

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Market Segmentation

The global synchronous condenser market is segmented into type, cooling type, starting method, reactive power rating, end user and region. By type, the market is segregated into new and refurbished. On the basis of cooling type, the market is divided into air-cooled, water-cooled, and hydrogen-cooled synchronous condenser. By starting methods, the market is divided into static frequency converter, pony motor, and others. By reactive power rating the market is classified into 100 MVAR, 100-200 MVAR and above 200 MVAR. By end-use, the market is bifurcated into are electric utilities and industrial. By region the market is segmented into North America, Europe, Asia-Pacific and rest of the world.

key Players

Key players operating in the global synchronous condenser industry are ABB, Ltd., Andritz, Eaton Corporation Plc, Fuji Electric, General Electric, Ideal Electric Power Co., Mitsubishi Electric Corporation, Siemens Energy, Voith GmbH & Co. KGaA, and WEG Group.

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