Product ID: UCMIG20E2006
Synchronous Condenser Market Size, Share, Growth Analysis, By Type(New, Refurbished), By Cooling Type(Air-cooled, Water-cooled), By Starting Method(Static Frequency Converter, Pony Motors), By Reactive Power Rating(Up to 100 MVAR, 100-200 MVAR), By End User(Electrical Utilities, Industrial), By Region(North America, U.S.) - Industry Forecast 2024-2031
Report ID:
UCMIG20E2006 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Synchronous Condenser Market Insights
Market Overview:
Synchronous condensers have been used for a long time at both the distribution and transmission voltage levels to make the voltages more stable and keep them within the desired limits when the load changes or something unexpected happens. Growing environmental issues such as global warming, carbon emissions, and rising pollution, have motivated regulating bodies of countries to implement strategies to tackle environmental issues to move toward clean energy sources. According to International Renewable Energy Agency (IRENA), in 2021, renewable accounted for 38% of global installed power generation capacity. These are some of the major factors propelling the demand for synchronous condensers and driving the market growth during the analysis period.
Synchronous Condenser Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Heavy Electrical Equipment by segment aggregation, the contribution of the Heavy Electrical Equipment in Capital Goods and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Synchronous Condenser Market Report Snapshots
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