Synchronous Condenser Market Study 2018- Size, Share, Trends, Challenges, and Regional Outlook by Fo

Synchronous Condenser Market Research Report- Forecast to 2023

Synchronous Condenser Market Study 2018- Size, Share, Trends, Challenges, and Regional Outlook by Forecast 2023

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Copyright Š 2018 Market Research Future.

Synchronous Condenser Market Research Report- Forecast to 2023

1 Summary A synchronous condenser is an identical device to a synchronous motor, whose main shaft is not interlinked with any other device but has free spin. Its main application is to adjust conditions on the electric power transmission grid. Voltage regulator controls its field to generate or absorb reactive power as needed to reduce the fluctuating grid’s voltage, or to improve power factor.

Key Players: The key players of Synchronous Condensers Market are Siemens AG (Germany), General Electric (U.S.), Eaton Co. Plc. (Ireland), ABB Ltd. (Switzerland), Voith GmbH (Germany), Fuji Electric Co., Ltd. (Japan), Toshiba Corporation (Japan), Hyundai Ideal Electric Co. (U.S.), Sustainable Power Systems LLC. (USA), WEG Industries (Brazil), Electro Mechanical Engineering Associates (USA), Power Systems and Control (USA) among others.

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Copyright Š 2018 Market Research Future.

Synchronous Condenser Market Research Report- Forecast to 2023

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Market Overview

Increase in electric power consumption and growing need to increase transmission capacity are becoming important in current market. Also, increase in renewable power generation, retiring conventional power plants, and increasing need of High-Voltage-Direct-Current (HVDC) has a substantial effect on stability of transmission grid. Synchronous condensers play a key role by generating leading and lagging reactive power resulting to stabilize the transmission grid. Its main advantages are short-circuit power capability, no harmonics are generated and provides inertia to the transmission grid. The key driving factors for this market is the large-scale demand by utilities for high-capacity synchronous condensers, also power generated from renewable sources is of fluctuating nature and needs power factor correction to maintain voltage stability and durability of synchronous condenser among others.

Segments

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Copyright Š 2018 Market Research Future.

Synchronous Condenser Market Research Report- Forecast to 2023

3 Market Research Analysis The synchronous condensers market in North America is projected to grow at the fastest rate during the forecast period. Gradual termination of conventional thermal power plants and growing renewable power generation are driving the synchronous condensers market in the region. North America is followed by Europe. Requirement for synchronous condensers in Europe is mainly driven by growing HVDC network in the region.

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Copyright Š 2018 Market Research Future.

Synchronous Condenser Market Research Report- Forecast to 2023

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Copyright Š 2018 Market Research Future.