Press release
United States Synchronous Condenser Market 2031 | Growth Drivers, Key Players & Investment Opportunities
Synchronous Condenser Market
Global synchronous condenser market reached USD 635.2 million in 2022 and is expected to reach USD 769.4 million by 2030, growing with a CAGR of 2.4% during the forecast period 2023-2030. The need for reactive power compensation from electric utilities, such as transmission systems, power plants and other industrial applications, is growing.
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Key Development:
United States: Recent Synchronous Condenser Developments
✅ In December 2025, ABB signed an agreement with VoltaGrid to supply and deliver 27 synchronous condensers with prefabricated power systems to strengthen grid stability supporting AI‐data‐center power demand, with deployment starting this month and first units operational by April 2026.
✅ In November 2025, Linxon was awarded an EPC contract by El RioSol Transmission, LLC for a 170 MVA synchronous condenser system at a new 500 kV substation in New Mexico to enhance transmission capacity and reliability across the U.S. Southwest.
✅ In October 2025, utilities and grid operators continued advancing projects to integrate synchronous condensers for improved reactive‐power support and voltage control as renewables penetration increases, with multiple orders booked across U.S. transmission infrastructure.
✅ In September 2025, linchpin grid‐modernization efforts including synchronous condenser deployments were highlighted by major gear suppliers as essential to support renewable integration, frequency response and grid resilience across North American networks.
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Japan: Recent Synchronous Condenser Developments
✅ In October 2025, Japan's National Committee on Transmission approved installation plans for new synchronous condenser units at key 765/400/220 kV pooling stations under the TBCB programme to boost grid strength and reactive‐power support for expanding renewable capacity.
✅ In September 2025, Hitachi's grid‐modernization investments, aligned with U.S.-Japan strategic infrastructure priorities, signalled potential future expansion opportunities for synchronous condenser and stabilization technologies as part of broader power‐grid enhancement efforts.
✅ In July 2025, Mitsubishi Electric introduced a compact synchronous condenser system aimed at stabilizing power flows in urban substations, aligning with Japan's renewable energy transition and localized grid support needs.
✅ In May 2025, Hitachi Energy deployed synchronous condensers in Hokkaido to reinforce frequency stability and support wind‐power integration, contributing to Japan's efforts to decarbonize and modernize grid operations.
Key Players:
=> Eaton Corporation plc, Voith GmbH & Co. KGaA, ABB LTD, GENERAL ELECTRIC, Ideal Electric Power Co., Fuji Electric, Siemens Energy, Mitsubishi Electric Corporation, Andritz and WEG Group.
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Key Segments:
By Insulation
New Synchronous Condenser - Leading segment with 60% share, driven by high efficiency and longer lifecycle in power systems.
Refurbished Synchronous Condenser - 40% share, preferred for cost-sensitive industrial applications and retrofitting projects.
By Cooling Technology
Hydrogen-Cooled - 35% share, high efficiency and preferred for large-scale electrical grids.
Air-Cooled - 40% share, widely adopted due to simplicity, lower maintenance, and moderate performance.
Water-Cooled - 25% share, used in high-capacity systems where heat dissipation is critical.
By Reactive Power Rating
Up to 10 MVAr - 30% share, suitable for small industrial and localized utility applications.
101 to 200 MVAr - 40% share, common in medium-scale electrical grids and industrial sectors.
Above 200 MVAr - 30% share, implemented in large-scale utilities and high-demand industrial networks.
By End-User
Electrical Utilities - 65% share, primary consumers due to grid stabilization and reactive power management requirements.
Industrial Sector - 35% share, utilized for manufacturing facilities, refineries, and energy-intensive industries.
By Region
North America - 25% Share
Strong focus on grid modernization and renewable integration drives adoption.
Europe - 30% Share
High penetration of synchronous condensers for renewable energy integration and grid reliability.
Asia-Pacific - 25% Share
Growing industrialization and renewable energy projects boost demand.
Latin America - 10% Share
Moderate adoption driven by modernization of existing power infrastructure.
Middle East & Africa - 10% Share
Emerging adoption, driven by new power generation projects and industrial expansion.
FAQ
What is the current size of the Synchronous Condenser Market?
A: In 2022, the Synchronous Condenser Market was valued at USD 635.2 million, reflecting its strong industry presence.
Q2: How large is the Synchronous Condenser Market expected to be by 2030?
A: By 2030, industry forecasts suggest the Synchronous Condenser Market will grow to around USD 769.4 million, demonstrating significant expansion.
Q3: What is the growth rate of the Synchronous Condenser Market?
A: The market is projected to expand at a compound annual growth rate (CAGR) of 2.4% during the forecast period from 2023 to 2030.
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