Dublin, Sept. 03, 2020 (GLOBE NEWSWIRE) -- The "North America Synchronous Condenser Market By Cooling Type (Hydrogen-Cooled, Air-Cooled and Water-Cooled), By Starting Method (Static Frequency Converter, Pony Motor and Others), By End-User, By Reactive Power Rating, By Country, Competition, Forecast & Opportunities, 2025" report has been added to ResearchAndMarkets.com's offering.
The North American Synchronous Condenser Market is expected to grow at a steady rate during the forecast period.
Major factors anticipated to drive the growth of the North American Synchronous Condenser Market include surging requirement for power factor correction and the rising demand for renewable power generation. Moreover, growing renewable-based power generation in the energy mix is fuelling the market growth in the region. Additionally, a synchronous condenser is very helpful in stabilizing the transmission grid by generating lagging and leading reactive power, thereby fuelling the market growth.
However, high maintenance and equipment cost of synchronous condenser because of extensive use of expensive raw materials like copper and aluminium might act as a major impediment to the market growth during the forecast period.
The North American Synchronous Condenser Market can be segmented based on cooling type, starting method, end-user, reactive power rating and country. By cooling type, the synchronous condenser market is segmented into hydrogen-cooled, air-cooled and water-cooled. Among them, hydrogen-cooled synchronous condensers dominated the market in terms of largest market share until 2019 and is anticipated to maintain its lead during the forecast years as well, which is attributable to extensive adoption of large-sized synchronous condensers ranging between 100 MVAr and 300 MVAr capacity in which hydrogen cooling is an efficient option.
Major players in the North American Synchronous Condenser Market include Siemens AG, ABB Ltd, Sustainable Power Systems Inc, Eaton Corporation PLC, Power Systems and Control Inc, WEG SA, Fuji Electric Co. Ltd, General Electric Company, Electromechanical Engineering Associates Inc., Hyundai Ideal Electric Co, etc. The key players in the market are using strategies such as launch of new products, merges and acquisitions to increase their customer bases and expand their share in the market.
Years considered for this report:
- Historical Years: 2015-2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Period: 2021-2025
Objective of the Study
- To analyse and forecast the market size of the North American Synchronous Condenser Market.
- To forecast the North American Synchronous Condenser Market based on cooling type, starting method, end-user, reactive power rating and regional distribution.
- To identify drivers and challenges for the North American Synchronous Condenser Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in the North American Synchronous Condenser Market.
- To conduct the pricing analysis for the North American Synchronous Condenser Market.
- To identify and analyse the profile of leading players operating in the North American Synchronous Condenser Market.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. North America Synchronous Condenser Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Cooling Type (Hydrogen-Cooled, Air-Cooled and Water-Cooled)
5.2.2. By Starting Method (Static Frequency Converter, Pony Motor and Others)
5.2.3. By End-User (Electrical Utilities and Industries)
5.2.4. By Reactive Power Rating (Up to 100 MVAr, 100 MVAr-200 MVAr and Above 200 MVAr)
5.2.5. By Company (2019)
5.2.6. By Country
5.3. Product Market Map
5.4. North America: Country Analysis
5.4.1. United States Synchronous Condenser Market Outlook
5.4.1.1. Market Size & Forecast
5.4.1.1.1. By Value
5.4.1.2. Market Share & Forecast
5.4.1.2.1. By Cooling Type
5.4.1.2.2. By Starting Method
5.4.1.2.3. By End-User
5.4.1.2.4. By Reactive Power Rating
5.4.2. Mexico Synchronous Condenser Market Outlook
5.4.3. Canada Synchronous Condenser Market Outlook
6. Market Dynamics
6.1. Drivers
6.2. Challenges
7. Market Trends & Developments
8. Competitive Landscape
8.1. Competition Outlook
8.1.1. Siemens AG
8.1.2. ABB Ltd.
8.1.3. Sustainable Power Systems Inc.
8.1.4. Eaton Corporation PLC
8.1.5. Power Systems and Control Inc.
8.1.6. WEG SA
8.1.7. Fuji Electric Co. Ltd.
8.1.8. General Electric Company
8.1.9. Electromechanical Engineering Associates Inc.
8.1.10. Hyundai Ideal Electric Co.
9. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/iz57bh
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