APAC Synchronous Condenser Market - Industry Trends and Forecast to 2030
Asia-Pacific synchronous condenser market is expected to reach USD 958,152.78 thousand by 2030 from USD 692,809.60 thousand in 2022 with a CAGR of 4.2% in the forecast period from 2023 to 2030. The new market report contains data for the historic year 2021, the base year of calculation is 2022, and the forecast period is 2023 to 2030.
Market Segmentation:Asia-Pacific Synchronous Condenser Market, By Cooling Technology (Hydrogen Cooled Synchronous Condenser, Air-Cooled Synchronous Condenser, and Water Cooled Synchronous Condenser), Starting Method (Static Frequency Convertor, Pony Motor, and Others), Reactive Power Rating (Above 200 MVAR, 101-200 MVAR, 61-100 MVAR, 31-60 MVAR, and 0-30 MVAR), End-User (Electrical Utilities and Industrial Sectors), Type (New Synchronous Condenser and Refurbished Synchronous Condenser), Design (Salient Pole Design and Cylindrical Rotor Design), No. of Poles (4 to 8, Less Than 4, and More Than 8), Excitation System Type (Static Excitation and Brushless Excitation System), Country (China, Japan, South Korea, India, Australia, Singapore, Indonesia, Thailand, Taiwan, Malaysia, Philippines, and Rest of Asia-Pacific) -- Industry Trends and Forecast to 2030
Overview of Asia-Pacific Synchronous Condenser Market Dynamics:Driver:
• Rising demand for safe and secure electrical grid systems
Restraint:
• Stringent standards related to synchronous condenser
Opportunity:
• Increase in investments on R&D to develop efficient synchronous condenser
Market Players
Some of the major players operating in the Asia-Pacific synchronous condenser market are:• Doosan Škoda Power
• General Electric
• Eaton
• ABB
• Ansaldo Energia
• WEG
• Siemens Energy
• IDEAL ELECTRIC POWER CO
• ANDRITZ
• Mitsubishi Electric Power Products, Inc.
• Power Systems & Controls, Inc.
• Baker Hughes Company
• Shanghai Electric
• INGETEAM, S.A.
• Hitachi Energy Ltd.
• Voith GmbH & Co. KGaA
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