Europe 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

By continuously generating/absorbing adjustable reactive power, enhanced short-circuit strength, and frequency stability by providing synchronous inertia, this system provides improved voltage regulation and stability. The goal is not to transform electricity into mechanical power or vice versa, but to use the reactive power control capabilities of the machines and synchronous inertia. Since the Industrial Revolution, the energy production of most countries around the Europe has been dominated by fossil fuels. This has important consequences for the environment as well as for human health. Three-quarters of greenhouse gas emissions derive from the burning of fossil fuels for energy. Thus, the use of renewable energy has increased to minimize carbon dioxide emissions, leading to a high demand for the same energy. This is thus, fueling the growth of the Europe market. For many in the European region, the stability of grid supply is now an issue with the shift in the power generation sector towards increased use of renewables. Over the years, the ability to consume or supply reactive power has been improved across the region by the use of a synchronous condenser. Several players are thus investing in the region to take advantage of the region's increased demand. For example, for the first time in Europe, GENERAL ELECTRIC has converted a powerful 625 MVA liquid-cooled generator operating at a coal-fired power plant to a synchronous condenser. The customer is now able to generate > 500 MVAr of reactive power to mitigate the removal of thermal property removal. The above-mentioned advantages of synchronous condensers therefore affect market growth across the European region.

Moreover, in case of COVID-19, Europe is highly affected specially the UK. The European Government has made tremendous investments in implementing technology into its healthcare systems to help detect symptoms of the virus, in order to protect its people from the virus. Businesses across Europe have shifted from traditional to online businesses in order to carry on with their financial activities during the corona virus outbreak. High adoption of work from home culture across the region owing to the nationwide lockdown has reduced the demand for power across the country especially from the commercial sector, thereby affected the power sector adversely across the region. For instance, Italy recorded a reduction of demand in power by 20% during the pandemic. This has negatively affected the demand for synchronous condenser across the region. On the other hand, the shutdown of manufacturing plants coupled with the adverse impact on logistics and supply chain in the area. The manufacturing processes of the condensers are also negatively impacted. Thus, the above-mentioned factors indicate that the European synchronous condenser market has been negatively impacted owing to the pandemic.

Get more information on this report :

Market Overview and Dynamics

The Europe synchronous condenser market is expected to grow from US$ 154.52 million in 2019 to US$ 179.84 million by 2027; it is estimated to grow at a CAGR of 2.8 % from 2020 to 2027. Increment in high-voltage direct current (HVDC) network is expected to upsurge the Europe synchronous condenser market. Existing and planned enhancements and extension of the high-voltage direct current (HVDC) network are expected to increase the demand for power factor correction devices, such as synchronous condensers, in different regions. High investments by key market players across Europe to build a strong HVDC network among major countries are further fueling the demand for synchronous condensers. For instance, Siemens has received the contract for building the link between Great Britain and France. The HDVC link would offer power supply reliability across both the countries to promote integration of renewable energy sources in the power grids. Siemens would supply the two HVDC converter stations on both sides of the DC power line, which would be routed through the Channel Tunnel as a DC cable. Technological progress in HVDC transmission systems is expected to assist in minimizing wind and solar-based electricity transmission system operational problems, as the phase gap in the HVDC transmission line does not matter. Although traditional HVAC does not operate on this principle, transformers are required to fit the stage generated from a different source. This is also expected to provide a better opportunity for the HVDC transmission system to expand across European countries. Increased renewable energy penetration has accelerated the adoption of HVDC transmission networks. Thus, the above-mentioned factors are contributing to the growth of the Europe synchronous condenser market.

Key Market Segments

In terms of cooling type, the hydrogen-cooled segment accounted for the largest share of the Europe synchronous condenser market in 2019. In terms of reactive power rating, the above 200 MVAr segment held a larger market share of the Europe synchronous condenser market in 2019. Similarly, in terms of starting method, the static frequency converter segment held a larger market share of the Europe synchronous condenser market in 2019. Further, the electrical utilities and grid operators segment held a larger share of the Europe 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 Europe 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; IDEAL ELECTRIC POWER CO.; Siemens AG (Siemens Energy); Voith GmbH & Co. KGaA; WEG ELECTRIC CORP.

Reasons to buy report

To understand the Europe synchronous condenser market landscape and identify market segments that are most likely to guarantee a strong return
Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe synchronous condenser market
Efficiently plan M&A and partnership deals in Europe 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 Europe synchronous condenser market
Obtain market revenue forecast for market by various segments from 2020-2027 in Europe region.

Europe Synchronous Condenser Market Segmentation

Europe Synchronous Condenser Market - By Cooling Type

Air-cooled
Hydrogen-cooled
Water-cooled

Europe Synchronous Condenser Market - By Reactive Power Rating

Up to 100 MVAr
100-200 MVAr
Above 200 MVAr

Europe Synchronous Condenser Market - By Starting Method

Pony Motor
Static Frequency Converter
Others

Europe Synchronous Condenser Market - By Application

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

Europe Synchronous Condenser Market - By Country

Europe 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. Europe Synchronous Condenser Market Landscape

4.1 Market Overview

4.2 Europe PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. Europe Synchronous Condenser Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Growing Demand for Renewable Power Generation

5.1.2 Rising Need for Power Factor Correction (PFC)

5.2 Market Restraints

5.2.1 Expensive Equipment and Maintenance

5.3 Market Opportunities

5.3.1 Transforming the existing synchronous generators into synchronous condensers

5.4 Future Trends

5.4.1 Increment in High-Voltage Direct Current (HVDC) Network

5.5 Impact Analysis of Drivers and Restraints

6. Synchronous Condenser Market – Europe Analysis

6.1 Europe Synchronous Condenser Market Overview

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

6.3 Market Positioning – Five Key Players

7. Europe Synchronous Condenser Market Analysis – By Cooling Type

7.1 Overview

7.2 Europe 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. Europe Synchronous Condenser Market Analysis – By Reactive Power Rating

8.1 Overview

8.2 Europe 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. Europe Synchronous Condenser Market Analysis – By Starting Method

9.1 Overview

9.2 Europe 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. Europe Synchronous Condenser Market Analysis – By Application

10.1 Overview

10.2 Europe 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. Europe Synchronous Condenser Market – Country Analysis

11.1 Overview

11.1.1 Europe: Synchronous Condenser Market, by Key Country

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

11.1.1.1.1 France: Synchronous Condenser Market, by Cooling Type

11.1.1.1.1.1 France: Synchronous Condenser Market, by Reactive Power Rating

11.1.1.1.2 France: Synchronous Condenser Market, by Starting Method

11.1.1.1.3 France: Synchronous Condenser Market, by Application

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

11.1.1.2.1 Germany: Synchronous Condenser Market, by Cooling Type

11.1.1.2.1.1 Germany: Synchronous Condenser Market, by Reactive Power Rating

11.1.1.2.2 Germany: Synchronous Condenser Market, by Starting Method

11.1.1.2.3 Germany: Synchronous Condenser Market, by Application

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

11.1.1.3.1 Italy: Synchronous Condenser Market, by Cooling Type

11.1.1.3.1.1 Italy: Synchronous Condenser Market, by Reactive Power Rating

11.1.1.3.2 Italy: Synchronous Condenser Market, by Starting Method

11.1.1.3.3 Italy: Synchronous Condenser Market, by Application

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

11.1.1.4.1 UK: Synchronous Condenser Market, by Cooling Type

11.1.1.4.1.1 UK: Synchronous Condenser Market, by Reactive Power Rating

11.1.1.4.2 UK: Synchronous Condenser Market, by Starting Method

11.1.1.4.3 UK: Synchronous Condenser Market, by Application

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

11.1.1.5.1 Russia: Synchronous Condenser Market, by Cooling Type

11.1.1.5.1.1 Russia: Synchronous Condenser Market, by Reactive Power Rating

11.1.1.5.2 Russia: Synchronous Condenser Market, by Starting Method

11.1.1.5.3 Russia: Synchronous Condenser Market, by Application

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

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

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

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

11.1.1.6.3 Rest of Europe: Synchronous Condenser Market, by Application

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

12.1 Europe: 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 IDEAL ELECTRIC POWER CO.

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 Siemens AG (Siemens Energy)

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 Voith GmbH & Co. KGaA

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

14.9 WEG ELECTRIC CORP.

14.9.1 Key Facts

14.9.2 Business Description

14.9.3 Products and Services

14.9.4 Financial Overview

14.9.5 SWOT Analysis

14.9.6 Key Developments

15. Appendix

15.1 About The Insight Partners

15.2 Word Index

LIST OF TABLES

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Table 26. List of Abbreviation

LIST OF FIGURES

Figure 1. Europe Synchronous Condenser Market Segmentation

Figure 2. Europe Synchronous Condenser Market Segmentation – By Country

Figure 3. Europe 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. Germany Held Largest Share of Europe Synchronous Condenser Market

Figure 9. Europe – PEST Analysis

Figure 10. Ecosystem Analysis

Figure 11. Expert Opinion

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe synchronous condenser market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Europe synchronous condenser market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the synchronous condenser market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Report Code
Full Name
Country Name
Email Id
Phone Number
Job Title
Company
Requirement
Note : Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Related Reports

Report Name	Published Date
Europe Wind Turbine Condition Monitoring Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Hardware, and Software and Serv..	May 2022
Europe Automotive System Simulation Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Transmission, Engine, Electric P..	May 2022
Europe In-Office Teeth Whitening Products Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Double-Syringe Mixing Configurat..	May 2022

Purchase Options

Single User License

$3000

$1800

Site License

$4000

$2400

Enterprise License

$5000

$3000

GET FREE SAMPLE PDF

Inquire before Buying Inquire for Discount

Subscription Member Price: FREE

Get Subscription

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis.

Request for Free Sample