Key Players
The key players of Synchronous Condensers Market are ABB Ltd. (Switzerland), Eaton Co. Plc. (Ireland), Electro-Mechanical Engineering Associates (USA), Fuji Electric Co., Ltd. (Japan), General Electric (USA), Hyundai Ideal Electric Co. (USA), Power Systems and Control (USA), Siemens AG (Germany), Sustainable Power Systems LLC. (USA), Toshiba Corporation (Japan), Voith GmbH (Germany) and WEG Industries (Brazil).
Synchronous condenser – Insights
A synchronous condenser is also known as synchronous compensator or synchronous capacitor. It is powered by direct current. It acts an excited synchronous motor as its shaft isn’t restrained by anything allowing it to spin freely. It serves the purpose of adjusting conditions of the electric power transmission grid. Lately, the demand for these machines has soared. This has brought about positive results for the Global Synchronous Condenser Market.
The electric field of a synchronous condenser is controlled by a voltage regulator. It helps in either generating or absorbing the reactive power. This is done in order to adjust the entire grid’s voltage or to enhance the power factor. The installation process & operation of this system is similar to that of huge generators & electric motors.
The main benefit of using this machine is the convenience that it offers. The user can easily adjust the power levels according to their individualistic requirements. Kinetic energy accumulated in the rotor of the machine can aid in stabilizing the power system during emergencies. Many a times, a large synchronous condenser is used in connotation with high-voltage direct current. The combination of these two systems can supply reactive power to the interchanging current grid.
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Latest Industry News
General Electric recently reported its first-quarter earnings that outpaced Wall Street expectations and reaffirmed its financial outlook for the year. Shares of GE rose as high as 7% in early trading, before sliding to trade 3% up on the day. First-quarter total revenue rose 7 percent to $28.66 billion as per the expectations of Thomson Reuters who were surveying GE.
NamPower has made an official announcement about its plan to spend over N$7 billion during the next five to seven years on the implementation of its Transmission Infrastructure Expansion Programme. Namibia’s overall current peak demand for electricity is 650 MWs. However, Ruacana Hydro Power Station the main energy provider in Namibia has an installed capacity of 347MW. This power supply is supplemented by the ANIXAS Power Station (diesel-powered station at Walvis Bay in the west of Namibia), with an installed capacity of 22.4 MW. The Van Eck Power Station in Windhoek, with its installed capacity of 120 MW, is undergoing refurbishment. It is being used in Synchronous Condenser Operation mode to stabilize the transmission grid.
Market Segmentation
The Global Synchronous Condenser Market is segmented on the basis of cooling type, reactive power rating, starting method, end-user, product type, and region.
By Cooling Type, the market is segmented into ait, water, and hydrogen.
By Reactive Power Rating, the market is segmented into up to 100MVAr, between 100-200 MVAr, and above MVAr.
By Starting Method, the market is segmented into static frequency converter, pony motor, and others.
By End-User, the market is segmented into industries and electrical utilities.
By Product Type, the market is divided between refurbished and new.
The global division of the market segments it into North America, Europe, Asia Pacific and the Rest of the World.
Regional Analysis
North America accounts for the most significant region in the global synchronous condenser market and is followed by Europe. There is a high demand for and growing use of renewable power in these regions. These regions have supportive government policies with regards to the use of renewable power generation. Moreover, the growing HVDC network in Europe drives the regional market.
The Asia Pacific is a prominent market due to the presence of several leading market players. Japan is among the leading countries in the region, and APAC has gradually become a manufacturing hub, with electrical and other machine components being abundantly and cheaply available. Moreover, the growing need for continuous flowing power in the rapidly urbanizing region which has a high concentration of emerging economies further drives the demand and use of synchronous condensers to assist in normalizing the fluctuation of power.
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Intended Audience
- Distributer & Supplier companies
- End Users
- Consultants and Investment bankers
- Government as well as Independent Regulatory Authorities.
Product Analysis
- Product matrix which gives a detailed comparison of the market for different recycled product types.
Additional Information
- Regulatory Landscape.
- Pricing Analysis.
- Macroeconomic Indicators.
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