Synchronous Condenser Market Size, Share & Trends Analysis Report By Product Type (New Synchronous Condenser, Refurbished Synchronous Condenser), By End-use (Electrical Utilities, Industrial), By Region, And Segment Forecasts, 2024 - 2030

Synchronous Condenser Market Size, Share & Trends Analysis Report By Product Type (New Synchronous Condenser, Refurbished Synchronous Condenser), By End-use (Electrical Utilities, Industrial), By Region, And Segment Forecasts, 2024 - 2030


Synchronous Condenser Market Trends

The global synchronous condenser market size was estimated at USD 679.1 million in 2023 and is forecasted to grow at a CAGR of 2.7% from 2024 to 2030. This growth is attributed to the growing complexity and variability in power generation across the globe. Synchronous condensers help maintain grid stability by providing inertia and voltage support. Moreover, many power grids globally are aging, necessitating upgrades to ensure reliability and stability, where synchronous condensers play a crucial role.

As renewable energy sources like wind and solar become more prevalent, the need for synchronous condensers to provide grid stability and inertia support increases. Furthermore, supportive policies and incentives aimed at enhancing grid reliability and integrating renewable energy sources often drive investments in synchronous condenser technology. Thereby, boosting market growth. Moreover, advances in control systems, materials, and design have improved the efficiency and performance of synchronous condensers, making them more suitable for grid operators.

Synchronous condensers require significant capital investment compared to other grid stabilization technologies, which can act as a restraint for its adoption in some applications. Integrating synchronous condensers into existing grid infrastructures can be challenging due to compatibility issues and the need for retrofitting. Furthermore, this product has high operational costs depending on its maintenance, fuel, and periodic refurbishment, which further increases its overall expenditure.

However, increasing penetration of renewable energy sources creates a growing market for synchronous condensers to manage grid stability. Initiatives of infrastructure projects that are aimed at expanding and interconnecting power grids present opportunities for product growth. Furthermore, increasing government initiatives aimed at accelerating the energy transition towards cleaner sources can drive demand for synchronous condensers. In addition to this, continued innovation in synchronous condenser technology in terms of materials, controls, and maintenance practices, can reduce costs and improve performance.

Global Synchronous Condenser Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest industry trends in each of the segments from 2018 to 2030. For this study, Grand View Research has segmented the global synchronous condenser market report on the basis of product type, end-use, and region:
  • Product Type Outlook (Revenue, USD Million, 2018 - 2030)
  • New Synchronous Condenser
  • Refurbished Synchronous Condenser
  • End-use Outlook (Revenue, USD Million, 2018 - 2030)
  • Electrical Utilities
  • Industrial
  • Regional Outlook (Revenue, USD Million, 2018 - 2030)
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Central & South America
  • Brazil
  • Argentina
  • Middle East & Africa
Please note The report will be delivered in 4-8 business days upon order notification.


Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumption
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook, 2023 (USD Million)
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Synchronous Condenser Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Synchronous Condenser Market - Value Chain Analysis
3.3. Synchronous Condenser Market - Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunity Analysis
3.3.4. Market Challenge Analysis
3.4. Regulatory Framework
3.5. Synchronous Condenser Market - Business Environment Analysis
3.5.1. PESTLE Analysis
3.5.2. Porter’s Five Forces Analysis
3.6. Market Disruption Analysis
Chapter 4. Synchronous Condenser Market: Product Type Estimates & Trend Analysis
4.1. Key Takeaways
4.2. Product Type Movement Analysis & Market Share, 2023 & 2030
4.3. Synchronous Condenser Market By Product Type, 2018 - 2030 (USD Million)
4.4. New Synchronous Condenser
4.4.1. New Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
4.5. Refurbished Synchronous Condenser
4.5.1. Refurbished Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
Chapter 5. Synchronous Condenser Market: End Use Estimates & Trend Analysis
5.1. Key Takeaways
5.2. End Use Movement Analysis & Market Share, 2023 & 2030
5.3. Synchronous Condenser Market By End Use, 2018 - 2030 (USD Million)
5.4. Electrical Utilities
5.4.1. Synchronous Condenser Market Estimates & Forecasts, by Electrical Utilities, 2018 & 2030 (USD Million)
5.5. Industrial
5.5.1. Synchronous Condenser Market Estimates & Forecasts, by Industrial, 2018 & 2030 (USD Million)
Chapter 6. Synchronous Condenser Market: Regional Estimates & Trend Analysis
6.1. Key Takeaways
6.2. Regional Market Share Analysis, 2023 & 2030
6.3. Market Estimates & Forecasts by Region, 2018 - 2030 (USD Million)
6.4. North America
6.4.1. North America Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.4.2. North America Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.4.3. North America Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.4.4. U.S.
6.4.4.1. U.S. Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.4.4.2. U.S. Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.4.4.3. U.S. Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.4.5. Canada
6.4.5.1. Canada Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.4.5.2. Canada Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.4.5.3. Canada Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.4.6. Mexico
6.4.6.1. Mexico Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.4.6.2. Mexico Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.4.6.3. Mexico Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.5. Europe
6.5.1. Europe Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.5.2. Europe Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.5.3. Europe Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.5.4. Germany
6.5.4.1. Germany Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.5.4.2. Germany Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.5.4.3. Germany Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.5.5. UK
6.5.5.1. UK Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.5.5.2. UK Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.5.5.3. UK Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.5.6. France
6.5.6.1. France Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.5.6.2. France Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.5.6.3. France Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.5.7. Spain
6.5.7.1. Spain Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.5.7.2. Spain Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.5.7.3. Spain Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.5.8. Italy
6.5.8.1. Italy Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.5.8.2. Italy Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.5.8.3. Italy Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.6. Asia Pacific
6.6.1. Asia Pacific Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.6.2. Asia Pacific Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.6.3. Asia Pacific Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.6.4. China
6.6.4.1. China Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.6.4.2. China Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.6.4.3. China Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.6.5. India
6.6.5.1. India Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.6.5.2. India Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.6.5.3. India Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.6.6. Japan
6.6.6.1. Japan Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.6.6.2. Japan Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.6.6.3. Japan Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.6.7. South Korea
6.6.7.1. South Korea Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.6.7.2. South Korea Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.6.7.3. South Korea Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.7. Central & South America
6.7.1. Central & South America Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.7.2. Central & South America Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.7.3. Central & South America Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.7.4. Brazil
6.7.4.1. Brazil Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.7.4.2. Brazil Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.7.4.3. Brazil Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.7.5. Argentina
6.7.5.1. Argentina Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.7.5.2. Argentina Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.7.5.3. Argentina Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
6.8. Middle East & Africa
6.8.1. Middle East & Africa Synchronous Condenser Market Estimates & Forecasts, 2018 & 2030 (USD Million)
6.8.2. Middle East & Africa Synchronous Condenser Market Estimates & Forecasts, by Product Type, 2018 & 2030 (USD Million)
6.8.3. Middle East & Africa Synchronous Condenser Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
Chapter 7. Supplier Intelligence
7.1. Kraljic Matrix
7.2. Engagement Model
7.3. Negotiation Strategies
7.4. Sourcing Best Practices
7.5. Vendor Selection Criteria
7.6. List of Raw Material Suppliers
Chapter 8. Competitive Analysis
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company Categorization
8.3. Company Market Positioning
8.4. Company Heat Map Analysis
8.5. Company Listings
8.5.1. ABB
8.5.1.1. Company Overview
8.5.1.2. Financial Performance
8.5.1.3. Product Benchmarking
8.5.1.4. Strategic Initiatives
8.5.2. Siemens Energy
8.5.2.1. Company Overview
8.5.2.2. Financial Performance
8.5.2.3. Product Benchmarking
8.5.2.4. Strategic Initiatives
8.5.3. IDEAL ELECTRIC POWER CO.
8.5.3.1. Company Overview
8.5.3.2. Financial Performance
8.5.3.3. Product Benchmarking
8.5.3.4. Strategic Initiatives
8.5.4. Ansaldo Energia S.p.A.
8.5.4.1. Company Overview
8.5.4.2. Financial Performance
8.5.4.3. Product Benchmarking
8.5.4.4. Strategic Initiatives
8.5.5. GE Vernova Inc.
8.5.5.1. Company Overview
8.5.5.2. Financial Performance
8.5.5.3. Product Benchmarking
8.5.5.4. Strategic Initiatives
8.5.6. Andritz AG
8.5.6.1. Company Overview
8.5.6.2. Financial Performance
8.5.6.3. Product Benchmarking
8.5.6.4. Strategic Initiatives
8.5.7. Voith
8.5.7.1. Company Overview
8.5.7.2. Financial Performance
8.5.7.3. Product Benchmarking
8.5.7.4. Strategic Initiatives
8.5.8. Fuji Electric
8.5.8.1. Company Overview
8.5.8.2. Financial Performance
8.5.8.3. Product Benchmarking
8.5.8.4. Strategic Initiatives
8.5.9. WEG
8.5.9.1. Company Overview
8.5.9.2. Financial Performance
8.5.9.3. Product Benchmarking
8.5.9.4. Strategic Initiatives
8.5.10. BRUSH
8.5.10.1. Company Overview
8.5.10.2. Financial Performance
8.5.10.3. Product Benchmarking
8.5.10.4. Strategic Initiatives

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings