Pune, India -- (SBWIRE) -- 02/13/2018 -- Market Highlights

Growth in electric power consumption and increasing need to widen transmission capacity are becoming critical in current market. Also, increase in renewable power generation, retiring old power plants, and increasing need of High-Voltage-Direct-Current (HVDC) has a substantial effect on stability of transmission grid. Synchronous condensers play a key role by generating leading and lagging reactive power resulting to stabilize the transmission grid. Its main advantages are short-circuit power capability, no harmonics are generated and provides inertia to the transmission grid. The key driving factors for this market is the large-scale demand by utilities for high-capacity synchronous condensers, also power generated from renewable sources is of fluctuating nature and needs power factor correction to maintain voltage stability and durability of synchronous condenser among others.

Market Research Analysis
Currently, the synchronous condensers market in North America is projected to grow at the fastest rate during the forecast period. Gradual termination of conventional thermal power plants and growing renewable power generation are driving the synchronous condensers market in the region. North America is followed by Europe. Requirement for synchronous condensers in Europe is mainly driven by growing HVDC network in the region.

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Key Players
The key players of drill pipe market are
- Siemens AG (Germany),
- General Electric (U.S.),
- Eaton Co. Plc. (Ireland),
- ABB Ltd. (Switzerland),
- Voith GmbH (Germany),
- Fuji Electric Co., Ltd. (Japan),
- Toshiba Corporation (Japan),
- Hyundai Ideal Electric Co. (U.S.),
- Sustainable Power Systems LLC. (USA),
- WEG Industries (Brazil),
- Electro Mechanical Engineering Associates (USA),
- Power Systems
- Control (USA)
- others.

Electric utilities are leading the end-users of synchronous condensers
Electric utilities have been historically the largest users of power factor correction equipment. Industries employ synchronous condensers only when the requirement for power factor correction is high and for the long distance power transmission. Metal and mining process industries have been the leading user of synchronous condensers but their share is low compared with electric utilities. Hence, the market for electric utilities will remain dominant and grow at a faster rate during the forecast period.

The growing electrical power consumption and rising need to maximize transmission capacity are becoming progressively important. Along with this, developing renewable-based power generation in the energy mix, retiring old power plants, and growing network of High-Voltage Direct Current (HVDC) has had a major effect on transmission grid stability. Synchronous condensers play a critical role by generating leading and lagging reactive power and helping to balance the transmission grid. It also offers considerable advantages over the other substitutes such as no harmonics, short-circuit power capability, and inertia to the transmission grid among others

Scope of the Report
This study provides an overview of the global synchronous condenser market, tracking five market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global synchronous condenser market by its cooling method, end user, reactive power rating, starting method, product type and by regions.
? By Cooling
- Hydrogen
- Air
- Water
? By Reactive Power Rating
- Up to 100 MVAr
- Between 100-200 MVAr
- Above 200 MVAr
? By Starting Method
- Static Frequency Converter
- Pony Motor
- Others
? By End User
- Electrical Utilities
- Industries
? By Product
- New
- Refurbished
? By Region
- North America
- Asia Pacific
- Europe
- Rest of the World

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Target Audience
- Organizations
- Manufacturer
- Research Institute / Education Institute
- Potential Investors

List Of Figures
Figure 1 Research Application
Figure 2 Global Synchronous Condensermarket: By Cooling Type (%)
Figure 3 Global Synchronous Condensermarket: By Reactive Power Rating (%)
Figure 4 Global Synchronous Condensermarket: By Starting Method (%)
Figure 5 Global Synchronous Condensermarket: By End User (%)
Figure 6 Global Synchronous Condensermarket: By Product Type (%)
Figure 7 Global Synchronous Condensermarket: By Region
Figure 8 North America Synchronous Condensermarket: By Cooling Type (%)
Figure 9 North America Synchronous Condensermarket: By Reactive Power Rating (%)
Figure 10 North America Synchronous Condensermarket: By Starting Method (%)
Continue……….

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