세계의 동기 진상기 시장 전망(-2030년) : 유형별, 정격 전력별, 판매 채널별, 용도별, 최종 사용자별, 지역별 분석

According to Stratistics MRC, the Global Synchronous Condenser Market is accounted for $2.8 billion in 2024 and is expected to reach $4.0 billion by 2030 growing at a CAGR of 6.1% during the forecast period. A synchronous condenser is a device used in electrical power systems to improve power factor, stabilize voltage, and enhance grid stability. It operates like a synchronous motor without a mechanical load connected to its shaft. Instead of generating mechanical power, it absorbs or generates reactive power as needed by adjusting its excitation level. This capability helps in maintaining grid voltage within acceptable limits and supporting the transmission of electrical power over long distances without significant losses. Synchronous condensers are particularly useful in renewable energy integration and in compensating for reactive power demand fluctuations in the grid.

According to the International Energy Association, over 260 GW, 63% of total nuclear power plants, are over 30 years old and close to the expiry of their initial operating licenses.

Market Dynamics:

Driver:

Growing power grid investments

The market is experiencing robust growth driven by increasing investments in power grids worldwide. These investments aim to enhance grid stability, improve reactive power management, and support renewable energy integration. Synchronous condensers play a crucial role in stabilizing voltage fluctuations and maintaining grid reliability, especially in regions expanding their renewable energy capacity. As grids evolve to accommodate higher levels of variable renewable sources like wind and solar, the demand for synchronous condensers continues to rise, positioning the market for significant expansion.

Restraint:

Availability of alternatives

While traditional synchronous condensers offer robust reactive power support and grid stability, their large footprint, high maintenance costs, and environmental impact drive demand for alternative solutions like static compensators and battery energy storage systems. These alternatives offer smaller footprints, flexibility in deployment, and lower environmental impact, challenging traditional market dominance and prompting utilities to weigh economic efficiency against operational reliability when investing in grid stability solutions.

Opportunity:

Need for integrated power plant systems

Integrated power plant systems play a crucial role in the market by enhancing grid stability and reliability. These systems incorporate advanced control mechanisms that optimize power generation and distribution, ensuring efficient operation and response to grid fluctuations. By integrating with renewable energy sources, they mitigate power imbalances and support seamless grid integration. This capability makes integrated power plant systems indispensable in modernizing electrical infrastructure and meeting the growing demand for reliable, sustainable energy solutions worldwide.

Threat:

Stringent regulations

Stringent regulations pose a significant challenge in the market, impacting manufacturing processes and deployment. Compliance requirements for environmental standards, safety protocols, and grid integration specifications often necessitate costly modifications and extensive testing phases. Manufacturers must navigate these hurdles to ensure adherence while maintaining competitive pricing and operational efficiency, thereby influencing market dynamics and investment decisions in the sector.

Covid-19 Impact:

The COVID-19 pandemic significantly impacted the market, disrupting supply chains and construction timelines due to lockdowns and labor shortages. Despite these challenges, the market saw continued demand driven by grid stability needs and renewable energy integration projects. Innovations in remote monitoring and maintenance gained traction, aiding market resilience. However, delays in project completions and reduced investments in infrastructure affected market growth temporarily.

The voltage regulation segment is expected to be the largest during the forecast period

The voltage regulation is expected to be the largest during the forecast period. Synchronous condensers help manage reactive power and voltage levels, ensuring efficient energy transmission and preventing voltage fluctuations. By dynamically adjusting reactive power, they stabilize the grid, support renewable energy integration, and enhance overall system reliability. Their role in voltage regulation is vital for modern power systems, addressing the challenges of increased renewable energy penetration and evolving grid demands.

The power generation segment is expected to have the highest CAGR during the forecast period

The power generation segment is expected to have the highest CAGR during the forecast period. Synchronous condensers are crucial for maintaining grid stability, improving power factor, and providing reactive power support, especially in renewable energy systems. They help balance supply and demand, ensuring smooth operation of power grids. With the growing emphasis on renewable energy integration, the demand for synchronous condensers in power generation is expected to rise, making them vital components in modern power systems.

Region with largest share:

North America is projected to hold the largest market share during the forecast period due to increased investments in renewable energy, grid stability requirements, and the rising demand for reliable power supply. Major players in the region are focusing on technological advancements and upgrading existing infrastructure to enhance efficiency. Government initiatives supporting the integration of renewable energy sources are also driving market expansion.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period. The rapid industrialization and urbanization in countries are driving the demand for electricity, leading to the need for stable power supply solutions. The increasing integration of renewable energy sources into the power grid requires synchronous condensers to maintain grid stability and power quality. The aging power infrastructure in many countries necessitates the implementation of synchronous condensers to ensure grid reliability and prevent blackouts.

Key players in the market

Some of the key players in Synchronous Condenser market include Siemens AG, ABB Ltd., General Electric Company, Toshiba Corporation, Hyundai Electric & Energy Systems Co., Ltd., Fuji Electric Co., Ltd., Mitsubishi Electric Corporation, Eaton Corporation, Yaskawa Electric Corporation, Powertech Systems, Power System Engineering, Inc., Voith GmbH, WEG Industries, Electro Mechanical Engineering Associates, Inc., Condenser Products, Rongxin Power Electronic Co., Ltd.

Key Developments:

In November 2023, Siemens has introduced a hybrid grid stabilization solution at Shannon bridge B in Ireland. This innovative system combines a synchronous condenser with flywheel technology alongside a 160 MWh battery. This marks the first integration of these two technologies into a unified grid connection solution.

In November 2023, General Electric announced that a consortium comprising GE Vernova's Power Conversion business and Eiffage Energie Systemes (consortium manager) has been selected by EDF SEI to provide and install a turnkey synchronous condenser system at the EDF SEI TAC Jarry Sud plant in Guadeloupe, France.

Types Covered:

• Cylindrical
• Spherical
• Hybrid
• Air-Cooled
• Water-Cooled
• Other Types

Power Ratings Covered:

• Low Voltage
• Medium Voltage
• High Voltage

Sales Channels Covered:

• Direct Sales
• Distributors and Dealers
• Online Sales
• Indirect Sales
• Aftermarket Sales

Applications Covered:

• Grid Stability Improvement
• Voltage Regulation
• Reactive Power Compensation
• Renewable Energy Integration
• Other Applications

End Users Covered:

• Power Generation
• Utilities
• Industrial Sector
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Application Analysis
• 3.7 End User Analysis
• 3.8 Emerging Markets
• 3.9 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Synchronous Condenser Market, By Type

• 5.1 Introduction
• 5.2 Cylindrical
• 5.3 Spherical
• 5.4 Hybrid
• 5.5 Air-Cooled
• 5.6 Water-Cooled
• 5.7 Other Types

6 Global Synchronous Condenser Market, By Power Rating

• 6.1 Introduction
• 6.2 Low Voltage
• 6.3 Medium Voltage
• 6.4 High Voltage

7 Global Synchronous Condenser Market, By Sales Channel

• 7.1 Introduction
• 7.2 Direct Sales
• 7.3 Distributors and Dealers
• 7.4 Online Sales
• 7.5 Indirect Sales
• 7.6 Aftermarket Sales

8 Global Synchronous Condenser Market, By Application

• 8.1 Introduction
• 8.2 Grid Stability Improvement
• 8.3 Voltage Regulation
• 8.4 Reactive Power Compensation
• 8.5 Renewable Energy Integration
• 8.6 Other Applications

9 Global Synchronous Condenser Market, By End User

• 9.1 Introduction
• 9.2 Power Generation
• 9.3 Utilities
• 9.4 Industrial Sector
• 9.5 Other End Users

10 Global Synchronous Condenser Market, By Geography

• 10.1 Introduction
• 10.2 North America
  • 10.2.1 US
  • 10.2.2 Canada
  • 10.2.3 Mexico
• 10.3 Europe
  • 10.3.1 Germany
  • 10.3.2 UK
  • 10.3.3 Italy
  • 10.3.4 France
  • 10.3.5 Spain
  • 10.3.6 Rest of Europe
• 10.4 Asia Pacific
  • 10.4.1 Japan
  • 10.4.2 China
  • 10.4.3 India
  • 10.4.4 Australia
  • 10.4.5 New Zealand
  • 10.4.6 South Korea
  • 10.4.7 Rest of Asia Pacific
• 10.5 South America
  • 10.5.1 Argentina
  • 10.5.2 Brazil
  • 10.5.3 Chile
  • 10.5.4 Rest of South America
• 10.6 Middle East & Africa
  • 10.6.1 Saudi Arabia
  • 10.6.2 UAE
  • 10.6.3 Qatar
  • 10.6.4 South Africa
  • 10.6.5 Rest of Middle East & Africa

11 Key Developments

• 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 11.2 Acquisitions & Mergers
• 11.3 New Product Launch
• 11.4 Expansions
• 11.5 Other Key Strategies

12 Company Profiling

• 12.1 Siemens AG
• 12.2 ABB Ltd.
• 12.3 General Electric Company
• 12.4 Toshiba Corporation
• 12.5 Hyundai Electric & Energy Systems Co., Ltd.
• 12.6 Fuji Electric Co., Ltd.
• 12.7 Mitsubishi Electric Corporation
• 12.8 Eaton Corporation
• 12.9 Yaskawa Electric Corporation
• 12.10 Powertech Systems
• 12.11 Power System Engineering, Inc.
• 12.12 Voith GmbH
• 12.13 WEG Industries
• 12.14 Electro Mechanical Engineering Associates, Inc.
• 12.15 Condenser Products
• 12.16 Rongxin Power Electronic Co., Ltd.