Asia-Pacific Synchronous Condenser Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Cooling Type (Air-cooled, Hydrogen-cooled, and Water-cooled), Reactive Power Rating (Up to 100 MVAr, 100-200 MVAr, and Above 200 MVAr), Starting Method (Pony Motor, Static Frequency Converter, and Others), and Application (Metal and Mining, Electrical Utilities and Grid Operators, Marine, Oil and Gas, and Others)

Market Introduction

The presence of emerging economies and rise in the adoption of innovative and advanced technologies are contributing to the overall development of the APAC region. Rapid industrialization and urbanization across the countries in the region are creating high demand for energy and power, thereby fueling the adoption of synchronous condenser to meet the rising demand of end users. Rising favorable government initiatives related to non-conventional energy across the region is also fueling the investment in the market. For instance, according to data published by the Department for Promotion of Industry and Internal Trade (DPIIT), the foreign direct investments received by India in the non-conventional energy sector was amounted to about US$ 9.56 billion during April 2000–June 2020. Additionally, fresh investments in the energy sector across the country have also been observed which amounted to US$ 11.1 billion since 2014. Similarly, Australia has experienced a rise in investment on generation of renewable energy over the years. According to Clean Energy Council (CEC), in 2019, Australia received Foreign Direct Investment from global players of the market of US$ 4.3 billion for the energy sector, facilitating the installation of solar rooftop across the country. Thus, the rising investment by the APAC countries in non-conventional energy is influencing the demand for synchronous condenser across the region.

Moreover, in case of COVID-19, APAC is highly affected specially China. Because of a massive number of cases in China, the APAC region is greatly affected by COVID-19, the country also homes the largest population across the world, thereby imposing greater risk of a large number of individuals; it is also a world leader of many global brands. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has also affected other major economies outside China, such as the large India, Australia and Japan, and is experiencing downward inflation. The sudden closedown of all economic activities which includes manufacturing plants of both essential products and luxurious items has impacted the overall economy of the countries in the region. China being the manufacturing hub of the world has many major players and distributers located in the country. The temporary shutdown of supply chain to both local and global manufacturers of the condensers is expected to negatively impact the market. Additionally, the reduction in demand of power by 25-30% has been observed across countries like India. This decrease in demand, combined with decreased collection and slow recovery, would have a negative effect on the synchronous market across the region is also expected to adversely impact the demand for synchronous condenser in the region.

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Market Overview and Dynamics

The APAC synchronous condenser market is expected to grow from US$ 109.85 million in 2019 to US$ 137.88 million by 2027; it is estimated to grow at a CAGR of 3.8 % from 2020 to 2027. Escalating demand for renewable power generation is expected to accelerate the APAC synchronous condenser market. The potential for rising demand for renewable energy, combined with the electrification of transportation and increased involvement of oil and gas companies in the electricity value chain, is accelerating the convergence of the above-mentioned industries. Rising initiatives among states, cities, and utilities to pursue DE carbonization plans over the years are increasing the demand for renewable energy across the APAC. The energy production of most countries around the APAC has been dominated by fossil fuels since the industrial revolution. This significantly affects both the APAC climate and human health. The combustion of fossil fuels for electricity results in three-quarters of APAC greenhouse gas emissions. Fossil fuels are responsible for significant quantities of local air pollution. In order to reduce carbon dioxide emission across the APAC, the consumption of renewable energy has increased, leading to the high demand for the same. For instance, according to the International Renewable Energy Agency, the top APAC countries in terms of renewable power and electricity generation capacity are the China, Thailand, Japan, and India. Thus, rising investments in renewable power generation by major economies across the APAC are expected to influence the adoption of synchronous condensers.

Key Market Segments

In terms of cooling type, the hydrogen-cooled segment accounted for the largest share of the APAC synchronous condenser market in 2019. In terms of reactive power rating, the above 200 MVAr segment held a larger market share of the APAC synchronous condenser market in 2019. Similarly, in terms of starting method, the static frequency converter segment held a larger market share of the APAC synchronous condenser market in 2019. Further, the electrical utilities and grid operators segment held a larger share of the APAC synchronous condenser market based on application in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the APAC synchronous condenser market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ABB Ltd.; Brush Group; Eaton Corporation plc; FUJI ELECTRIC CO., LTD.; General Electric Company; Siemens AG (Siemens Energy); Voith GmbH & Co. KGaA; WEG ELECTRIC CORP.

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To understand the APAC synchronous condenser market landscape and identify market segments that are most likely to guarantee a strong return
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Efficiently plan M&A and partnership deals in APAC synchronous condenser market by identifying market segments with the most promising probable sales
Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC synchronous condenser market
Obtain market revenue forecast for market by various segments from 2020-2027 in APAC region.

APAC Synchronous Condenser Market Segmentation

APAC Synchronous Condenser Market - By Cooling Type

Air-cooled
Hydrogen-cooled
Water-cooled

APAC Synchronous Condenser Market - By Reactive Power Rating

Up to 100 MVAr
100-200 MVAr
Above 200 MVAr

APAC Synchronous Condenser Market - By Starting Method

Pony Motor
Static Frequency Converter
Others

APAC Synchronous Condenser Market - By Application

Metal and Mining
Electrical Utilities and Grid Operators
Marine
Oil and Gas
Others

APAC Synchronous Condenser Market - By Country

APAC Synchronous Condenser Market - Company Profiles

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. APAC Synchronous Condenser Market Landscape

4.1 Market Overview

4.2 APAC PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. APAC Synchronous Condenser Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Escalating Demand for Renewable Power Generation

5.1.2 Upsurge in the Need for Power Factor Correction (PFC)

5.2 Market Restraints

5.2.1 Overpriced Installation and Maintenance

5.3 Market Opportunities

5.3.1 Modifying the existing synchronous generators into synchronous condensers

5.4 Future Trends

5.4.1 Mounting High-Voltage Direct Current (HVDC) Network

5.5 Impact Analysis of Drivers and Restraints

6. Synchronous Condenser Market – APAC Analysis

6.1 APAC Synchronous Condenser Market Overview

6.2 APAC Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

6.3 Market Positioning – Five Key Players

7. APAC Synchronous Condenser Market Analysis – By Cooling Type

7.1 Overview

7.2 APAC Synchronous Condenser Market, By Cooling Type (2019 and 2027)

7.3 Air-Cooled

7.3.1 Overview

7.3.2 Air-Cooled: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

7.4 Hydrogen-Cooled

7.4.1 Overview

7.4.2 Hydrogen-Cooled: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

7.5 Water-Cooled

7.5.1 Overview

7.5.2 Water-Cooled: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

8. APAC Synchronous Condenser Market Analysis – By Reactive Power Rating

8.1 Overview

8.2 APAC Synchronous Condenser Market Breakdown, by Reactive Power Rating, 2019 & 2027

8.3 Up to 100 MVAr

8.3.1 Overview

8.3.2 Up to 100 MVAr Market Revenue and Forecast to 2027 (US$ Million)

8.4-200 MVAr

8.4.1 Overview

8.4.2-200 MVAr Market Revenue and Forecast to 2027 (US$ Million)

8.5 Above 200 MVAr

8.5.1 Overview

8.5.2 Above 200 MVAr Market Revenue and Forecast to 2027 (US$ Million)

9. APAC Synchronous Condenser Market Analysis – By Starting Method

9.1 Overview

9.2 APAC Synchronous Condenser Market Breakdown, by Starting Method, 2019 & 2027

9.3 Pony Motor

9.3.1 Overview

9.3.2 Pony Motor Market Revenue and Forecast to 2027 (US$ Million)

9.4 Static Frequency Converter

9.4.1 Overview

9.4.2 Static Frequency Converter Market Revenue and Forecast to 2027 (US$ Million)

9.5 Others

9.5.1 Overview

9.5.2 Others Market Revenue and Forecast to 2027 (US$ Million)

10. APAC Synchronous Condenser Market Analysis – By Application

10.1 Overview

10.2 APAC Synchronous Condenser Market Breakdown, by Application, 2019 & 2027

10.3 Metal and Mining

10.3.1 Overview

10.3.2 Metal and Mining Market Revenue and Forecast to 2027 (US$ Million)

10.4 Electrical Utilities and Grid Operators

10.4.1 Overview

10.4.2 Electrical Utilities and Grid Operators Market Revenue and Forecast to 2027 (US$ Million)

10.5 Marine

10.5.1 Overview

10.5.2 Marine Market Revenue and Forecast to 2027 (US$ Million)

10.6 Oil and Gas

10.6.1 Overview

10.6.2 Oil and Gas Market Revenue and Forecast to 2027 (US$ Million)

10.7 Others

10.7.1 Overview

10.7.2 Others Market Revenue and Forecast to 2027 (US$ Million)

11. APAC Synchronous Condenser Market – Country Analysis

11.1 Overview

11.1.1 APAC: Synchronous Condenser Market, by Key Country

11.1.1.1 Australia: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.1.1 Australia: Synchronous Condenser Market, by Cooling Type

11.1.1.1.1.1 Australia: Synchronous Condenser Market, by Reactive Power Rating

11.1.1.1.2 Australia: Synchronous Condenser Market, by Starting Method

11.1.1.1.3 Australia: Synchronous Condenser Market, by Application

11.1.1.2 China: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.2.1 China: Synchronous Condenser Market, by Cooling Type

11.1.1.2.1.1 China: Synchronous Condenser Market, by Reactive Power Rating

11.1.1.2.2 China: Synchronous Condenser Market, by Starting Method

11.1.1.2.3 China: Synchronous Condenser Market, by Application

11.1.1.3 India: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.3.1 India: Synchronous Condenser Market, by Cooling Type

11.1.1.3.1.1 India: Synchronous Condenser Market, by Reactive Power Rating

11.1.1.3.2 India: Synchronous Condenser Market, by Starting Method

11.1.1.3.3 India: Synchronous Condenser Market, by Application

11.1.1.4 Japan: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.4.1 Japan: Synchronous Condenser Market, by Cooling Type

11.1.1.4.1.1 Japan: Synchronous Condenser Market, by Reactive Power Rating

11.1.1.4.2 Japan: Synchronous Condenser Market, by Starting Method

11.1.1.4.3 Japan: Synchronous Condenser Market, by Application

11.1.1.5 South Korea: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.5.1 South Korea: Synchronous Condenser Market, by Cooling Type

11.1.1.5.1.1 South Korea: Synchronous Condenser Market, by Reactive Power Rating

11.1.1.5.2 South Korea: Synchronous Condenser Market, by Starting Method

11.1.1.5.3 South Korea: Synchronous Condenser Market, by Application

11.1.1.6 Rest of APAC: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.6.1 Rest of APAC: Synchronous Condenser Market, by Cooling Type

11.1.1.6.1.1 Rest of APAC: Synchronous Condenser Market, by Reactive Power Rating

11.1.1.6.2 Rest of APAC: Synchronous Condenser Market, by Starting Method

11.1.1.6.3 Rest of APAC: Synchronous Condenser Market, by Application

12. Impact of COVID-19 Pandemic on APAC Synchronous Condenser Market

12.1 APAC: Impact Assessment of COVID-19 Pandemic

13. Industry Landscape

13.1 Overview

13.2 Market Initiative

13.3 New Product Development

14. Company Profiles

14.1 ABB Ltd.

14.1.1 Key Facts

14.1.2 Business Description

14.1.3 Products and Services

14.1.4 Financial Overview

14.1.5 SWOT Analysis

14.1.6 Key Developments

14.2 Brush Group

14.2.1 Key Facts

14.2.2 Business Description

14.2.3 Products and Services

14.2.4 Financial Overview

14.2.5 SWOT Analysis

14.2.6 Key Developments

14.3 Eaton Corporation plc

14.3.1 Key Facts

14.3.2 Business Description

14.3.3 Products and Services

14.3.4 Financial Overview

14.3.5 SWOT Analysis

14.3.6 Key Developments

14.4 FUJI ELECTRIC CO., LTD.

14.4.1 Key Facts

14.4.2 Business Description

14.4.3 Products and Services

14.4.4 Financial Overview

14.4.5 SWOT Analysis

14.4.6 Key Developments

14.5 General Electric Company

14.5.1 Key Facts

14.5.2 Business Description

14.5.3 Products and Services

14.5.4 Financial Overview

14.5.5 SWOT Analysis

14.5.6 Key Developments

14.6 Siemens AG (Siemens Energy)

14.6.1 Key Facts

14.6.2 Business Description

14.6.3 Products and Services

14.6.4 Financial Overview

14.6.5 SWOT Analysis

14.6.6 Key Developments

14.7 Voith GmbH & Co. KGaA

14.7.1 Key Facts

14.7.2 Business Description

14.7.3 Products and Services

14.7.4 Financial Overview

14.7.5 SWOT Analysis

14.7.6 Key Developments

14.8 WEG ELECTRIC CORP.

14.8.1 Key Facts

14.8.2 Business Description

14.8.3 Products and Services

14.8.4 Financial Overview

14.8.5 SWOT Analysis

14.8.6 Key Developments

15. Appendix

15.1 About The Insight Partners

15.2 Word Index

LIST OF TABLES

Table 1. APAC Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

Table 2. Australia: Synchronous Condenser Market, by Cooling Type –Revenue and Forecast to 2027 (US$ Million)

Table 3. Australia: Synchronous Condenser Market, by Reactive Power Rating –Revenue and Forecast to 2027 (US$ Million)

Table 4. Australia: Synchronous Condenser Market, by Starting Method –Revenue and Forecast to 2027 (US$ Million)

Table 5. Australia: Synchronous Condenser Market, by Application –Revenue and Forecast to 2027 (US$ Million)

Table 6. China: Synchronous Condenser Market, by Cooling Type –Revenue and Forecast to 2027 (US$ Million)

Table 7. China: Synchronous Condenser Market, by Reactive Power Rating –Revenue and Forecast to 2027 (US$ Million)

Table 8. China: Synchronous Condenser Market, by Starting Method –Revenue and Forecast to 2027 (US$ Million)

Table 9. China: Synchronous Condenser Market, by Application –Revenue and Forecast to 2027 (US$ Million)

Table 10. India: Synchronous Condenser Market, by Cooling Type –Revenue and Forecast to 2027 (US$ Million)

Table 11. India: Synchronous Condenser Market, by Reactive Power Rating –Revenue and Forecast to 2027 (US$ Million)

Table 12. India: Synchronous Condenser Market, by Starting Method –Revenue and Forecast to 2027 (US$ Million)

Table 13. India: Synchronous Condenser Market, by Application –Revenue and Forecast to 2027 (US$ Million)

Table 14. Japan: Synchronous Condenser Market, by Cooling Type –Revenue and Forecast to 2027 (US$ Million)

Table 15. Japan: Synchronous Condenser Market, by Reactive Power Rating –Revenue and Forecast to 2027 (US$ Million)

Table 16. Japan: Synchronous Condenser Market, by Starting Method –Revenue and Forecast to 2027 (US$ Million)

Table 17. Japan: Synchronous Condenser Market, by Application –Revenue and Forecast to 2027 (US$ Million)

Table 18. South Korea: Synchronous Condenser Market, by Cooling Type –Revenue and Forecast to 2027 (US$ Million)

Table 19. South Korea: Synchronous Condenser Market, by Reactive Power Rating –Revenue and Forecast to 2027 (US$ Million)

Table 20. South Korea: Synchronous Condenser Market, by Starting Method –Revenue and Forecast to 2027 (US$ Million)

Table 21. South Korea: Synchronous Condenser Market, by Application –Revenue and Forecast to 2027 (US$ Million)

Table 22. Rest of APAC: Synchronous Condenser Market, by Cooling Type –Revenue and Forecast to 2027 (US$ Million)

Table 23. Rest of APAC: Synchronous Condenser Market, by Reactive Power Rating –Revenue and Forecast to 2027 (US$ Million)

Table 24. Rest of APAC: Synchronous Condenser Market, by Starting Method –Revenue and Forecast to 2027 (US$ Million)

Table 25. Rest of APAC: Synchronous Condenser Market, by Application –Revenue and Forecast to 2027 (US$ Million)

Table 26. List of Abbreviation

LIST OF FIGURES

Figure 1. APAC Synchronous Condenser Market Segmentation

Figure 2. APAC Synchronous Condenser Market Segmentation – By Country

Figure 3. APAC Synchronous Condenser Market Overview

Figure 4. Hydrogen-cooled Segment to Show Remarkable Traction During Forecast Period

Figure 5. Above 200 MVAr Segment to Show Remarkable Growth During Forecast Period

Figure 6. Static frequency converter Segment to Show Remarkable Growth During Forecast Period

Figure 7. Electrical Utilities and Grid Operators Segment to Show Remarkable Growth During Forecast Period

Figure 8. China Held Largest Share of APAC Synchronous Condenser Market

Figure 9. APAC – PEST Analysis

Figure 10. Ecosystem Analysis

Figure 11. Expert Opinion

Figure 12. APAC Synchronous Condenser Market Impact Analysis of Drivers and Restraints

Figure 13. APAC Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

Figure 14. APAC Synchronous Condenser Market Revenue Share, by Cooling Type (2019 and 2027)

Figure 15. APAC Air-Cooled: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

Figure 16. APAC Hydrogen-Cooled: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

Figure 17. APAC Water-Cooled: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

Figure 18. APAC Synchronous Condenser Market Breakdown, by Reactive Power Rating (2019 and 2027)

Figure 19. APAC Up to 100 MVAr Market Revenue and Forecast to 2027(US$ Million)

Figure 20. APAC 100-200 MVAr Market Revenue and Forecast to 2027(US$ Million)

Figure 21. APAC Above 200 MVAr Market Revenue and Forecast to 2027(US$ Million)

Figure 22. APAC Synchronous Condenser Market Breakdown, by Starting Method (2019 and 2027)

Figure 23. APAC Pony Motor Market Revenue and Forecast to 2027(US$ Million)

Figure 24. APAC Static Frequency Converter Market Revenue and Forecast to 2027(US$ Million)

Figure 25. APAC Others Market Revenue and Forecast to 2027(US$ Million)

Figure 26. APAC Synchronous Condenser Market Breakdown, by Application (2019 and 2027)

Figure 27. APAC Metal and Mining Market Revenue and Forecast to 2027(US$ Million)

Figure 28. APAC Electrical Utilities and Grid Operators Market Revenue and Forecast to 2027(US$ Million)

Figure 29. APAC Marine Market Revenue and Forecast to 2027(US$ Million)

Figure 30. APAC Oil and Gas Market Revenue and Forecast to 2027(US$ Million)

Figure 31. APAC Others Market Revenue and Forecast to 2027(US$ Million)

Figure 32. APAC: Synchronous Condenser Market Revenue Share, By Key Country (2019 and 2027)

Figure 33. Australia: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

Figure 34. China: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

Figure 35. India: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

Figure 36. Japan: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

Figure 37. South Korea: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

Figure 38. Rest of APAC: Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

Figure 39. Impact of COVID-19 Pandemic in APAC Country Markets

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