Middle East & Africa 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 MEA is experiencing a growth in its energy sector owing to the strategic investment and plans by the government body across the countries such as Saudi Arabia and UAE. For instance, the UAE is presently involved in building the world’s largest concentrated solar plant called the Mohammed Bin Rashid Solar Park. The UAE and Saudi Arabia along with several other countries, such as Qatar, Oman, Kuwait, Bahrain, Iran, and Iraq, have strategically planned to invest US$ 182.3 billion in the energy sector by 2025. This rising investment in the energy sector is expected to influence the demand for synchronous condenser, which, in turn is contributing to the growth of the market. In Africa, the market is not as mature as that in the Middle East, as the latter is technologically advanced, and implements technologies across all industries including the energy sector. Enterprises are taking active initiatives to educate people and bring advancements toward improving the infrastructural development across the region; thereby positively impacting the growth of the market across the region. Burgeoning high-voltage direct current (HVDC) network and upgrading the existing synchronous generators into synchronous condensers are the major factor driving the growth of the MEA synchronous condenser market

Moreover, in case of COVID-19, MEA is highly affected especially Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait. It is becoming clear with the COVID-19 pandemic spreading through the above-mentioned countries that few can avoid its effects, posing major challenges for all sectors. The retail industry across the Middle East has being severely impacted due to the outbreak of the pandemic in the starting of the year 2020. However, in order to combat the huge economic impact, countries like UAE have taken necessary steps to continue economic activities across the region. However, the supply chain across the country has been greatly affected thereby increasing the unavailability of manufacturing parts or finished condenser supply across the country. Thus, the above-mentioned factors are expected to negatively impact the market over the years.

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Market Overview and Dynamics

The MEA synchronous condenser market is expected to grow from US$ 38.09 million in 2019 to US$ 45.72 million by 2027; it is estimated to grow at a CAGR of 3.2 % from 2020 to 2027. Escalating need for power factor correction (PFC) is expected to accelerate the MEA synchronous condenser market. Most of the engines used in industries are induction engines in which currents would be drawn by loads such as lamps, fans, heaters, etc. Due to large reactive components, these lagging currents would decrease the power factor of the entire unit. The overall performance of the device would therefore decrease. Using a synchronous motor in parallel with induction motors or transformers, the leading reactive volt-amperes supplied by the synchronous motor may be corrected by compensating for the lagging reactive volt-amperes of other power equipment. In this way, to increase the overall power factor of the device, a synchronous condenser is useful. The amount of reactive power from a synchronous condenser can be changed continuously, unlike a static capacitor bank. When the grid voltage decreases, reactive power from a static capacitor bank decreases; whereas a synchronous condenser would increase reactive current as the voltage decreases. Ability to regulate voltage levels is another advantage of synchronous condensers. Naturally, a synchronous condenser supplies a low voltage with more reactive power and it absorbs more reactive power from a high voltage; moreover, the field can be regulated as previously mentioned. In situations like starting large motors or in systems where power must move long distances from where it is produced to where it is used, reactive power improves voltage control. Thus, the above-mentioned benefits of controlling voltage fluctuations with the help of synchronous condenser are anticipated to influence the growth of the market across the MEA.

Key Market Segments

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

Reasons to buy report

To understand the MEA 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 MEA synchronous condenser market
Efficiently plan M&A and partnership deals in MEA 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 MEA synchronous condenser market
Obtain market revenue forecast for market by various segments from 2020-2027 in MEA region.

MEA Synchronous Condenser Market Segmentation

MEA Synchronous Condenser Market - By Cooling Type

Air-cooled
Hydrogen-cooled
Water-cooled

MEA Synchronous Condenser Market - By Reactive Power Rating

Up to 100 MVAr
100-200 MVAr
Above 200 MVAr

MEA Synchronous Condenser Market - By Starting Method

Pony Motor
Static Frequency Converter
Others

MEA Synchronous Condenser Market - By Application

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

MEA Synchronous Condenser Market - By Country

South Africa
Saudi Arabia
UAE
Rest of MEA

MEA 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. MEA Synchronous Condenser Market Landscape

4.1 Market Overview

4.2 MEA PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. MEA Synchronous Condenser Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Surging Demand for Renewable Power Generation

5.1.2 Escalating Need for Power Factor Correction (PFC)

5.2 Market Restraints

5.2.1 High Installation and Maintenance Price

5.3 Market Opportunities

5.3.1 Upgrading the existing synchronous generators into synchronous condensers

5.4 Future Trends

5.4.1 Burgeoning High-Voltage Direct Current (HVDC) Network

5.5 Impact Analysis of Drivers and Restraints

6. Synchronous Condenser Market – MEA Analysis

6.1 MEA Synchronous Condenser Market Overview

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

6.3 Market Positioning – Five Key Players

7. MEA Synchronous Condenser Market Analysis – By Cooling Type

7.1 Overview

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

8.1 Overview

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

9.1 Overview

9.2 MEA 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. MEA Synchronous Condenser Market Analysis – By Application

10.1 Overview

10.2 MEA 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. MEA Synchronous Condenser Market – Country Analysis

11.1 Overview

11.1.1 MEA: Synchronous Condenser Market, by Key Country

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

11.1.1.1.1 South Africa: Synchronous Condenser Market, by Cooling Type

11.1.1.1.1.1 South Africa: Synchronous Condenser Market, by Reactive Power Rating

11.1.1.1.2 South Africa: Synchronous Condenser Market, by Starting Method

11.1.1.1.3 South Africa: Synchronous Condenser Market, by Application

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

11.1.1.2.1 Saudi Arabia: Synchronous Condenser Market, by Cooling Type

11.1.1.2.1.1 Saudi Arabia: Synchronous Condenser Market, by Reactive Power Rating

11.1.1.2.2 Saudi Arabia: Synchronous Condenser Market, by Starting Method

11.1.1.2.3 Saudi Arabia: Synchronous Condenser Market, by Application

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

11.1.1.3.1 UAE: Synchronous Condenser Market, by Cooling Type

11.1.1.3.1.1 UAE: Synchronous Condenser Market, by Reactive Power Rating

11.1.1.3.2 UAE: Synchronous Condenser Market, by Starting Method

11.1.1.3.3 UAE: Synchronous Condenser Market, by Application

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

11.1.1.4.1 Rest of MEA: Synchronous Condenser Market, by Cooling Type

11.1.1.4.1.1 Rest of MEA: Synchronous Condenser Market, by Reactive Power Rating

11.1.1.4.2 Rest of MEA: Synchronous Condenser Market, by Starting Method

11.1.1.4.3 Rest of MEA: Synchronous Condenser Market, by Application

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

12.1 MEA: 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. MEA Synchronous Condenser Market – Revenue and Forecast to 2027 (US$ Million)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Table 18. List of Abbreviation

LIST OF FIGURES

Figure 1. MEA Synchronous Condenser Market Segmentation

Figure 2. MEA Synchronous Condenser Market Segmentation – By Country

Figure 3. MEA 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. Saudi Arabia Held Largest Share of MEA Synchronous Condenser Market

Figure 9. MEA – PEST Analysis

Figure 10. Ecosystem Analysis

Figure 11. Expert Opinion

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Figure 37. Impact of COVID-19 Pandemic in MEA Country Markets

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