Europe Synchronous Condenser Market - Industry Trends and Forecast to 2030
Europe synchronous condenser market is expected to reach USD 1,044,842.42 thousand by 2030 from USD 768,880.81 thousand in 2022, with a CAGR of 3.9% 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:Europe 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 (France, Germany, U.K., Italy, Spain, Sweden, Switzerland, Netherlands, Belgium, Russia, Denmark, Turkey, Poland, Norway, Finland, and Rest of Europe) - Industry Trends and Forecast to 2030
Overview of Europe Synchronous Condenser Market Dynamics:Driver:
• Rising demand for safe and secure electrical grid systems
Restraint:
• Stringent standards related to synchronous condenser
Opportunity:
• Rising government initiatives to reduce air pollution
Market Players
Some of the major players operating in the Europe 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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