APAC Synchronous Condenser Market - Industry Trends and Forecast to 2032
Asia-Pacific synchronous condenser market is expected to reach USD 1,013,386.95 Thousand by 2031 from USD 720,251.44 thousand in 2023 with a CAGR of 4.4% in the forecast period from 2024 to 2031. The new market report contains data for the historic year 2022, the base year of calculation is 2023, and the forecast period is 2024 to 2031.
Market SegmentationAsia-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 ( Above 200 MVAR, 101-200 MVAR, 61-100 MVAR, 31-60 MVAR, and 0-30 MVAR), End-User (Electrical Utilities and Industrial Sectors), Insulation Type (New Synchronous Condenser and Refurbished Synchronous Condenser), No. of Poles ( 4 to 8, Less Than 4, and More Than 8), Design (Salient Pole Design and Cylindrical Rotor Design), Excitation System (Static Excitation and Brushless Excitation System), Country (China, India, Japan, South Korea, Australia, Singapore, Taiwan, Malaysia, Thailand, Indonesia, Philippines, New Zealand, Vietnam, 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 PlayersSome 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.