Synchronous Condenser Market Research Report, Trends, Analysis and Forecast to 2027

A synchronous condenser is also known as asynchronous capacitor. This system is usually used to manage the grid voltage. Furthermore, it also adjusts conditions on the electric power transmission grid. Synchronous condensers are synchronous motors that are frequently working for power factor correction in power lines. Electrical circuits contain induction motors are frequently encountered with insulation power factors, owing to which the effectiveness of the devices goes below. Lagging power factors result in the loss of energy. Synchronous condensers are introduced in such circuits to stop out the lagging power factor.  They feed the circuits with leading power factors. Though, synchronous motors can be used to compensate foremost and lagging power factors through supplying reactive power to the line. This helps in enhancing the voltage rule of the line. Synchronous condensers also help in getting better the effectiveness of long power transmission lines.

Request for sample here: “Synchronous Condenser Market”

Moreover, synchronous condensers help in avoiding short circuit conditions and transient fault conditions in power grids, owing to their capability to soak up and create reactive power. Other advantages of synchronous condensers comprise provision of sufficient short-circuit power and inertia, steady-state and dynamic voltage control, reactive power control of dynamic loads, which can be included for stabilization of grids, line-commutated converters based high voltage DC transmission links, renewable power generation based transmission grids, and retirement/shut-down of thermal power plants. The “Global Synchronous Condenser Market” is accounted for $528.39 million in 2018 and is expected to reach $745.58 million by 2027 growing at a CAGR of 3.9% during the forecast period.

Due to the growth in Synchronous Condenser, HVDC transmission lines provide bulk power distribution in excess of extensive distances at compact voltage, and less ambient temperature. Integration of synchronous condensers offers power stability to HVDC transmission lines, derived from renewable energy sources. Classically, an HVDC transmission has a power rating superior than 100 MW and numerous are in the 1,000–3,000 MW range. The HVDC transmission method is usually price‐effective while compare with an corresponding AC transmission method. The losses on the HVDC lines are roughly 3.5% per 1,000 km as compare with 6.7% for AC lines at alike voltage levels. The HVDC–High–Voltage Alternating Current (HVAC) interconnection point is subjected to a number of actions problems such as high-magnitude AC voltage oscillations and voltage disturbances. Synchronous condensers are used in such devices to make stronger their dynamic voltage regulation, offer reactive power support, and enable steady-state AC voltage control. They also manage the DC line voltage and control temporary overvoltage situations in case of HVDC tripping. The synchronous condenser is one of the most excellent means of stabilizing and getting better transmission system stability and strength. Also, as per EIA, the US energy demand will augment by 0.4% from 2016 to 2050; the growth will need extra investments in HVDC network, which is likely to bring high-growth opportunities for the synchronous condenser market.

Request for customization here:  “Synchronous Condenser Market”

Synchronous Condenser market across North America regions has huge demand of growth on account of rising T&D expenditure and mounting grid complexity. Canada has seen a increasing demand for synchronous condensers, particularly in latest installations, whereas in the U.S., the additional prevalent trend is to change the old power plants to synchronous condensers. This is also probable to make a vast demand for synchronous condensers in the region. GE (US) is a important player which dynamically focuses on inorganic strategies to augment its global market share. For example, in April 2016, GE was awarded a contract by Florida Power & Light to change its Turkey point unit 2 plants from creation mode to synchronous condenser mode. GE offers all the main types of cooling methods for synchronous condensers such as air, hydrogen, and water. 

For more information fill in the Inquiry form at: “Synchronous Condenser Market”

The Synchronous Condenser market in the region is probable to increase in the near future owing to factors such as installation of latest power plants in the U.S. and escalating use of synchronous condensers in the live power plants in the country. Companies are growing their market share by adopting numerous marketing and merger & acquisition strategies. Companies are also changing their manufacturing services to developing countries, such as US and Canada. In North America, to avail the simply available land, not expensive labour, and government subsidies in the region. The industrial development in this region is all set to drive the demand of synchronous condensers devices. Key players involved in this market are mostly concentrating on R&D initiatives and latest product developments to cater the needs of customers. Furthermore, booming electrical industry will directly impact the demand of the synchronous condensers in excess of the expected period.