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Report
North America Synchronous Condenser Market - Industry Trends and Forecast to 2035
Market Report I 2024-02-01 I 148 Pages I Data Bridge Market Research
North America synchronous condenser market is expected to reach USD 1,217,384.17 thousand by 2031 from USD 899,125.10 thousand in 2023 with a CAGR of 3.9% 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 Segmentation
North America 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 (U.S., Canada, and Mexico) - Industry Trends and Forecast to 2031
Overview of North America Synchronous Condenser Market Dynamics
Driver
- Growing need for integrated systems in power plants
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 North America synchronous condenser market are:
- Doosan Skoda 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.
TABLE OF CONTENTS
1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 OVERVIEW OF THE NORTH AMERICA SYNCHRONOUS CONDENSER MARKET 15
1.4 CURRENCY AND PRICING 17
1.5 LIMITATIONS 17
1.6 MARKETS COVERED 17
2 MARKET SEGMENTATION 20
2.1 MARKETS COVERED 20
2.2 YEARS CONSIDERED FOR THE STUDY 21
2.3 GEOGRAPHIC SCOPE 22
2.4 DBMR TRIPOD DATA VALIDATION MODEL 23
2.5 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 26
2.6 DBMR MARKET POSITION GRID 27
2.7 MULTIVARIATE MODELLING 28
2.8 COOLING TECHNOLOGY CURVE 29
2.9 MARKET END-USER COVERAGE GRID 30
2.10 SECONDARY SOURCES 31
2.11 ASSUMPTIONS 31
3 EXECUTIVE SUMMARY 32
4 PREMIUM INSIGHTS 37
4.1 FLYWHEEL ROLE IN SYNCHRONOUS CONDENSER SYSTEMS 38
4.2 COMPLEMENTARY TECHNOLOGIES 41
5 MARKET OVERVIEW 43
5.1 DRIVERS 45
5.1.1 INCREASING DEMAND FOR CLEAN ENERGY SOURCES 45
5.1.2 GROWING NEED FOR INTEGRATED SYSTEMS IN POWER PLANTS 47
5.1.3 RISING DEMAND FOR SAFE AND SECURE ELECTRICAL GRID SYSTEMS 49
5.1.4 EXPANSION OF HVDC NETWORK ACROSS THE WORLD 51
5.2 RESTRAINTS 52
5.2.1 HIGHER PRICES ASSOCIATED WITH CAPITAL AND MAINTENANCE 52
5.2.2 STRINGENT STANDARDS RELATED TO SYNCHRONOUS CONDENSER 53
5.2.3 HIGHER PRICE VOLATILITY OF RAW MATERIALS 54
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5.3 OPPORTUNITIES 56
5.3.1 RISING GOVERNMENT INITIATIVES TO REDUCE AIR POLLUTION 56
5.3.2 UPSURGE IN DECOMMISSIONING OF AGING AND CONVENTIONAL POWER GENERATION SOURCES 57
5.3.3 INCREASE IN INVESTMENTS IN R&D TO DEVELOP EFFICIENT SYNCHRONOUS CONDENSER 58
5.4 CHALLENGES 60
5.4.1 AVAILABILITY OF LOW-COST SUBSTITUTES 60
5.4.2 INVOLVEMENT IN SOPHISTICATED AND TIME-CONSUMING INSTALLATION PROCESS 61
6 NORTH AMERICA SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY 63
6.1 OVERVIEW 64
6.2 HYDROGEN COOLED SYNCHRONOUS CONDENSER 65
6.3 AIR-COOLED SYNCHRONOUS CONDENSER 66
6.4 WATER COOLED SYNCHRONOUS CONDENSER 66
7 NORTH AMERICA SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 67
7.1 OVERVIEW 68
7.2 STATIC FREQUENCY CONVERTOR 69
7.3 PONY MOTOR 70
7.4 OTHERS 70
8 NORTH AMERICA SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING 71
8.1 OVERVIEW 72
8.2 ABOVE 200 MVAR 73
8.3 101-200 MVAR 74
8.4 61-100 MVAR 74
8.5 31-60 MVAR 75
8.6 0-30 MVAR 75
9 NORTH AMERICA SYNCHRONOUS CONDENSER MARKET, BY END USER 76
9.1 OVERVIEW 77
9.2 ELECTRICAL UTILITIES 78
9.3 INDUSTRIAL SECTORS 78
10 NORTH AMERICA SYNCHRONOUS CONDENSER MARKET, BY TYPE 79
10.1 OVERVIEW 80
10.2 NEW SYNCHRONOUS CONDENSER 81
10.3 REFURBISHED SYNCHRONOUS CONDENSER 81
11 NORTH AMERICA SYNCHRONOUS CONDENSER MARKET, BY DESIGN 82
11.1 OVERVIEW 83
11.2 SALIENT POLE DESIGN 84
11.3 CYLINDRICAL ROTOR DESIGN 84
12 NORTH AMERICA SYNCHRONOUS CONDENSER MARKET, BY NO. OF POLES 85
12.1 OVERVIEW 86
12.2 4 TO 8 87
12.3 LESS THAN 4 88
12.4 MORE THAN 8 88
13 NORTH AMERICA SYNCHRONOUS CONDENSER MARKET, BY EXCITATION SYSTEM TYPE 89
13.1 OVERVIEW 90
13.2 STATIC EXCITATION 91
13.3 BRUSHLESS EXCITATION SYSTEM 92
14 NORTH AMERICA SYNCHRONOUS CONDENSER MARKET, BY REGION 93
14.1 NORTH AMERICA 96
14.1.1 U.S. 99
14.1.2 CANADA 101
14.1.3 MEXICO 103
15 NORTH AMERICA SYNCHRONOUS CONDENSER MARKET, COMPANY LANDSCAPE 105
15.1 COMPANY SHARE ANALYSIS: NORTH AMERICA 105
16 SWOT ANALYSIS 106
17 COMPANY PROFILES 107
17.1 GENERAL ELECTRIC 107
17.1.1 COMPANY SNAPSHOT 107
17.1.2 REVENUE ANALYSIS 107
17.1.3 COMPANY SHARE ANALYSIS 108
17.1.4 PRODUCT PORTFOLIO 108
17.1.5 RECENT DEVELOPMENTS 109
17.2 ABB 110
17.2.1 COMPANY SNAPSHOT 110
17.2.2 REVENUE ANALYSIS 110
17.2.3 COMPANY SHARE ANALYSIS 111
17.2.4 PRODUCT PORTFOLIO 111
17.2.5 RECENT DEVELOPMENTS 112
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17.3 EATON 113
17.3.1 COMPANY SNAPSHOT 113
17.3.2 REVENUE ANALYSIS 114
17.3.3 COMPANY SHARE ANALYSIS 114
17.3.4 SERVICE PORTFOLIO 115
17.3.5 RECENT DEVELOPMENTS 116
17.4 BAKER HUGHES COMPANY 117
17.4.1 COMPANY SNAPSHOT 117
17.4.2 REVENUE ANALYSIS 117
17.4.3 COMPANY SHARE ANALYSIS 118
17.4.4 PRODUCT & SERVICES PORTFOLIO 118
17.4.5 RECENT DEVELOPMENT 119
17.5 SIEMENS ENERGY 120
17.5.1 COMPANY SNAPSHOT 120
17.5.2 REVENUE ANALYSIS 120
17.5.3 COMPANY SHARE ANALYSIS 121
17.5.4 PRODUCT PORTFOLIO 121
17.5.5 RECENT DEVELOPMENTS 122
17.6 ANDRITZ 123
17.6.1 COMPANY SNAPSHOT 123
17.6.2 REVENUE ANALYSIS 123
17.6.3 PRODUCT PORTFOLIO 124
17.6.4 RECENT DEVELOPMENTS 124
17.7 ANSALDO ENERGIA 125
17.7.1 COMPANY SNAPSHOT 125
17.7.2 REVENUE ANALYSIS 125
17.7.3 PRODUCT PORTFOLIO 126
17.7.4 RECENT DEVELOPMENT 126
17.8 DOOSAN SKODA POWER 127
17.8.1 COMPANY SNAPSHOT 127
17.8.2 PRODUCT PORTFOLIO 127
17.8.3 RECENT DEVELOPMENT 128
17.9 HITACHI ENERGY LTD. 129
17.9.1 COMPANY SNAPSHOT 129
17.9.2 REVENUE ANALYSIS 130
17.9.3 PRODUCT PORTFOLIO 130
17.9.4 RECENT DEVELOPMENT 131
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17.10 IDEAL ELECTRIC POWER CO. 132
17.10.1 COMPANY SNAPSHOT 132
17.10.2 PRODUCT PORTFOLIO 132
17.10.3 RECENT DEVELOPMENT 133
17.11 INGETEAM, S.A. 134
17.11.1 COMPANY SNAPSHOT 134
17.11.2 PRODUCT PORTFOLIO 134
17.11.3 RECENT DEVELOPMENTS 135
17.12 MITSUBISHI ELECTRIC POWER PRODUCTS, INC. 136
17.12.1 COMPANY SNAPSHOT 136
17.12.2 REVENUE ANALYSIS 136
17.12.3 SOLUTION PORTFOLIO 137
17.12.4 RECENT DEVELOPMENT 137
17.13 POWER SYSTEMS & CONTROLS, INC. 138
17.13.1 COMPANY SNAPSHOT 138
17.13.2 PRODUCT PORTFOLIO 138
17.13.3 RECENT DEVELOPMENT 139
17.14 SHANGHAI ELECTRIC 140
17.14.1 COMPANY SNAPSHOT 140
17.14.2 REVENUE ANALYSIS 140
17.14.3 PRODUCT PORTFOLIO 141
17.14.4 RECENT DEVELOPMENTS 141
17.15 WEG 142
17.15.1 COMPANY SNAPSHOT 142
17.15.2 REVENUE ANALYSIS 142
17.15.3 PRODUCT PORTFOLIO 143
17.15.4 RECENT DEVELOPMENT 143
18 QUESTIONNAIRE 144
19 RELATED REPORTS 148
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