同期調相機（ロータリーコンデンサ）市場規模、シェア、動向、2030年までの世界予測

同期調相機（ロータリーコンデンサ）市場は、2025年の7億2,000万米ドルから2030年には8億4,000万米ドルに成長し、予測期間中に3.3%のCAGRで成長すると予測されています。主要経済国におけるインフラ開発の加速と送電網の拡張により、グリッドの安定性と信頼性を高めるための同期コンデンサの需要が大幅に増加しています。インドでは、配電部門改革計画（RDSS）などの野心的な国家イニシアチブ、超高圧送電線、再生可能エネルギー線、スマートグリッドプログラムへの多額の投資により、この需要が牽引されています。これらのプロジェクトには高度な無効電力管理と慣性サポートが必要であり、同期コンデンサは、急速に成長する高電圧ネットワークにおける電圧不安定性の解消、故障時の対応の確保、安全で効率的な電力フローの促進に向けた取り組みの最前線に位置付けられています。

調査範囲：

本レポートは、世界の同期調相機（ロータリーコンデンサ）市場を、タイプ、無効電力定格、冷却技術、始動方法、エンドユーザー、地域別に定義、説明、予測しています。また、市場の詳細な定性・定量分析も提供しています。主要な市場推進要因、制約要因、機会、課題を包括的に分析しています。さらに、市場の様々な重要な側面を網羅しており、競争環境、市場ダイナミクス、市場規模予測、同期コンデンサ市場の将来動向などを分析しています。

本レポートを購入する主なメリット

• 本レポートは、同期調相機（ロータリーコンデンサ）市場の成長に影響を与える主要な推進要因（再生可能エネルギーの急速な拡大と系統規模の容量増加、老朽化し​​た系統インフラの近代化への重点化）、制約要因（現代の電力網における技術的および統合上の課題）、機会（同期発電機から同期コンデンサへの転換、高電圧直流システムの導入増加）、課題（低コストの代替品の入手可能性）に関する分析を提供します。
• 市場動向：収益性の高い市場に関する包括的な情報 – 本レポートは、さまざまな地域の同期コンデンサ市場を分析します。
• 市場の多様化：同期調相機（ロータリーコンデンサ）市場における新製品やサービス、未開拓地域、最近の動向、投資に関する包括的な情報。
• 競合評価：同期発電市場におけるABB（スイス）、イートン（アイルランド）、シーメンス・エナジー（ドイツ）、GEベルノバ（米国）、WEG（ブラジル）、三菱電機パワープロダクツ（米国）、アンドリッツ（オーストリア）、アンサルド・エネルギア（イタリア）、Voith GmbH & Co. KGaA（ドイツ）、Bharat Heavy Electricals Limited（インド）、斗山シュコダ・パワー（チェコ共和国）、ベーカー・ヒューズ（米国）、IDEAL ELECTRIC POWER CO.（米国）、Power Systems & Controls, Inc.（米国）、Electromechanical Engineering Associates, Inc.（米国）、安徽中電電有限公司（中国）、上海電気（中国）、Ingeteam（スペイン）、日立エネルギー株式会社（スイス）、臥龍電機集団（中国）などの主要企業の市場シェア、成長戦略、サービス提供の詳細な評価。コンデンサー市場。
• 製品イノベーション／開発：同期調相機（ロータリーコンデンサ）市場では、特にデジタル制御システムや予知保全機能の導入により、製品の導入とアップグレードが活発化しています。再生可能エネルギーの統合、スマートグリッド、高電圧送電網におけるユースケースの増加に伴い、水素冷却システム、高効率化のための先端材料、モジュール式／コンパクト設計といった持続可能な技術革新が大きな注目を集めています。シーメンス・エナジーやGE Vernovaといった先進エネルギー生産者が提供するソリューションに見られるように、ハイブリッドソリューション（同期コンデンサとSTATCOMやバッテリーエネルギーストレージなどのパワーエレクトロニクスを組み合わせたもの）の進化も進んでおり、これらのソリューションは、強化されたデジタル制御、人工知能（AI）を活用した予知保全、最適化されたローター／絶縁設計を特徴としており、導入の簡素化、設置面積の削減、そして現代の電力システムに向けた強化された慣性および無効電力サポートを提供します。

Report Description

The synchronous condenser market is estimated to grow from USD 0.72 billion in 2025 to USD 0.84 billion by 2030, at a CAGR of 3.3% during the forecast period. The acceleration of infrastructure development and the expansion of transmission networks in major economies are significantly increasing the demand for synchronous condensers to enhance grid stability and reliability. In India, this demand is driven by ambitious national initiatives, such as the Revamped Distribution Sector Scheme (RDSS), as well as substantial investments in ultra-high-voltage transmission corridors, renewable energy corridors, and smart grid programs. These projects require advanced reactive power management and inertia support, placing synchronous condensers at the forefront of efforts to eliminate voltage instability, ensure fault ride-through, and facilitate secure and efficient power flow in rapidly growing high-voltage networks.

In the US, extensive federal programs, including major funding under the Bipartisan Infrastructure Law and the Inflation Reduction Act, are aimed at modernizing the grid, connecting remote renewable energy sources, and improving resilience to extreme weather events. This encourages the widespread use of synchronous condensers, which provide critical momentary circuit strength, dynamic voltage control, and artificial inertia in established transmission systems. These advancements enable the significant integration of variable generation sources while reducing curtailment and ensuring reliable delivery of clean energy across interconnected grids, addressing the limitations of traditional infrastructure.

“By cooling technology, the hydrogen-cooled synchronous condenser segment is expected to be the largest cooling technology segment in the synchronous condenser market during the forecast period.”

The hydrogen-cooled segment is expected to account for the largest share of the synchronous condenser market during the forecast period, as it offers superior thermal conductivity, enhanced heat dissipation, and the ability to support high-capacity operations in large-scale utility and transmission projects. Hydrogen-cooled synchronous condensers offer high power density, low energy loss, and higher performance under heavy loads, and are suitable for grids with high inertia requirements and high demand for high-MVAR-rated units (usually above 200 MVAR). These systems offer reduced windage loss, enhanced overall efficiency, longer equipment lifespan, and better thermal control than air-cooled or water-cooled systems, which are typically chosen for smaller ratings or cost-sensitive installations. The shift to hydrogen-cooled synchronous condensers has become a key trend in modern power system designs. This is particularly important for large-scale renewable energy integration and high-voltage direct current (HVDC) interconnection, as utilities and grid operators prioritize reliable, high-performance solutions for voltage regulation and grid stability.

“By starting method, the static frequency converter segment is projected to register the fastest growth in the synchronous condenser market during the forecast period.”

The static frequency converter segment is expected to be the fastest-growing starting method in the synchronous condenser market throughout the forecast period as a result of a broad combination of growing demands in efficient and reliable grid stabilization solutions, development of power electronics technologies, and compliance with global trends in the direction of modernized transmission infrastructure and integration of renewable energy. The static frequency converter offers very accurate, independent control of starting frequency and voltage, can be started smoothly without relying on grid conditions or load changes, has a lower noise level, requires less space, and is more reliable than pony motor methods. These properties contribute to the fact that SFCs are especially well adapted to large-scale utility use with high capacity synchronous condensers, in which they can be used to provide increased inertia, respond to reactive power requirements, and control voltages in grids with high levels of renewable penetration better than pony motor options which in most cases have a limited range of applications to simpler and smaller locations.

“By region, Europe is estimated to account for the second-largest market share during the forecast period.”

Europe is expected to become the second-largest market for synchronous condensers during the forecast period. This expectation is supported by aggressive renewable energy targets, significant investments in grid modernization, and the need for improved grid stability due to the high penetration of intermittent energy sources like wind and solar. Synchronous condensers can provide essential services such as inertia, reactive power compensation, and voltage regulation, aligning with Europe’s decarbonization goals and the need for a reliable power supply in an evolving energy landscape. The robust policy framework in Europe, including the EU Green Deal, ambitious renewable integration targets, and initiatives to support grid upgrades and high-voltage direct current (HVDC) expansions, drives the demand for synchronous condensers. These systems help minimize transmission losses, manage voltage fluctuations, and enhance the resilience of utility networks and transmission infrastructure.

In-depth interviews have been conducted with key industry participants, subject-matter experts, C-level executives of leading market players, and industry consultants, among others, to obtain and verify critical qualitative and quantitative information and to assess future market prospects. The distribution of primary interviews is as follows:

• By Company Type: Tier 1 – 65%, Tier 2 – 24%, and Tier 3 – 11%
• By Designation: C-level Executives – 30%, Directors – 25%, and Others – 45%
• By Region: North America – 33%, Europe – 27%, Asia Pacific – 20%, Middle East & Africa – 8%, and South America – 12%

Notes: The tiers of the companies are defined based on their total revenues as of 2024. Tier 1: > USD 1 billion, Tier 2: USD 500 million to USD 1 billion, and Tier 3: < USD 500 million.

Other designations include sales managers, engineers, and regional managers.

ABB (Switzerland), Siemens Energy (Germany), GE Vernova (US), Eaton (Ireland), and WEG (Brazil) are some of the major players in the synchronous condenser market. The study includes an in-depth competitive analysis of these key players, including their company profiles, recent developments, and key market strategies.

Research Coverage:

The report defines, describes, and forecasts the global synchronous condenser market by type, reactive power rating, cooling technology, starting method, end user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the synchronous condenser market.

Key Benefits of Buying the Report

• It provides an analysis of key drivers (rapid expansion of renewable energy and grid-scale capacity additions, increasing emphasis on modernization aging grid infrastructure), restraints (technical and Integration challenges in modern power grids), opportunities (conversion of synchronous generators into synchronous condensers, rising adoption of high-voltage direct current systems), challenges (availability of low-cost substitutes) influencing the growth of the synchronous condenser market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the synchronous condenser market across varied regions.
• Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the synchronous condenser market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like ABB (Switzerland), Eaton (Ireland), Siemens Energy (Germany), GE Vernova (US), WEG (Brazil), Mitsubishi Electric Power Products, Inc. (US), Andritz (Austria), Ansaldo Energia (Italy), Voith GmbH & Co. KGaA (Germany), Bharat Heavy Electricals Limited (India), Doosan Škoda Power (Czech Republic), Baker Hughes (US), IDEAL ELECTRIC POWER CO. (US), Power Systems & Controls, Inc. (US), Electromechanical Engineering Associates, Inc. (US), Anhui Zhongdian Electric Co., Ltd. (China), Shanghai Electric (China), Ingeteam (Spain), Hitachi Energy Ltd. (Switzerland), and Wolong Electric Group (China), among others, in the synchronous condenser market.
• Product Innovation/Development: The synchronous condenser market is witnessing high product introduction and upgrades, especially with the introduction of digital control systems and predictive maintenance functionalities. With more use cases in renewable energy integration, smart grids, and high-voltage transmission networks, sustainable advancements such as hydrogen-cooled systems, advanced materials for greater efficiency, and modular/compact designs are gaining significant traction. The evolution of hybrid solutions (synchronous condensers with power electronics such as STATCOMs or battery energy storage) is also moving forward, as in solutions from the advanced energy producers such as Siemens Energy and GE Vernova, which feature enhanced digital controls, artificial intelligence (AI)-enabled predictive maintenance, and optimized rotor/insulation designs to simplify deployment, reduce footprints, and provide enhanced inertia and reactive power supports for modern power systems.

Table of Contents

1 INTRODUCTION 24
1.1 STUDY OBJECTIVES 24
1.2 MARKET DEFINITION 24
1.3 STUDY SCOPE 25
1.3.1 MARKETS COVERED AND REGIONAL SCOPE 25
1.3.2 INCLUSIONS AND EXCLUSIONS 26
1.3.3 YEARS CONSIDERED 26
1.4 CURRENCY CONSIDERED 26
1.5 UNITS CONSIDERED 27
1.6 STAKEHOLDERS 27
1.7 SUMMARY OF CHANGES 27
2 EXECUTIVE SUMMARY 28
2.1 MARKET HIGHLIGHTS AND KEY INSIGHTS 28
2.2 KEY MARKET PARTICIPANTS: MAPPING OF STRATEGIC DEVELOPMENTS 29
2.3 DISRUPTIVE TRENDS IN SYNCHRONOUS CONDENSER MARKET 30
2.4 HIGH-GROWTH SEGMENTS 31
2.5 REGIONAL SNAPSHOT: MARKET SIZE, GROWTH RATE, AND FORECAST 32
3 PREMIUM INSIGHTS 33
3.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SYNCHRONOUS CONDENSER MARKET 33
3.2 SYNCHRONOUS CONDENSER MARKET, BY TYPE AND REGION 34
3.3 SYNCHRONOUS CONDENSER MARKET, BY TYPE 34
3.4 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY 35
3.5 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 35
3.6 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING 36
3.7 SYNCHRONOUS CONDENSER MARKET, BY END USER 36
3.8 SYNCHRONOUS CONDENSER MARKET, BY COUNTRY 37
4 MARKET OVERVIEW 38
4.1 INTRODUCTION 38
4.2 MARKET DYNAMICS 38
4.2.1 DRIVERS 39
4.2.1.1 Rapid expansion of renewable energy and grid-scale capacity additions 39
4.2.1.2 Rising emphasis on modernizing aging grid infrastructure 40
4.2.2 RESTRAINTS 41
4.2.2.1 High capital costs and complex deployment requirements 41

4.2.3 OPPORTUNITIES 41
4.2.3.1 Conversion of synchronous generators into synchronous condensers 41
4.2.3.2 Rising adoption of high-voltage direct current (HVDC) systems 42
4.2.4 CHALLENGES 43
4.2.4.1 Availability of low-cost substitutes 43
4.3 UNMET NEEDS AND WHITE SPACES 44
4.3.1 UNMET NEEDS IN SYNCHRONOUS CONDENSER MARKET 44
4.3.2 WHITE SPACE OPPORTUNITIES 44
4.4 INTERCONNECTED MARKETS AND CROSS-SECTOR OPPORTUNITIES 45
4.4.1 INTERCONNECTED MARKETS 45
4.4.2 CROSS-SECTOR OPPORTUNITIES 45
4.5 STRATEGIC MOVES BY TIER-1/2/3 PLAYERS 46
4.5.1 KEY MOVES AND STRATEGIC FOCUS 46
5 INDUSTRY TRENDS 47
5.1 PORTER’S FIVE FORCES ANALYSIS 47
5.1.1 BARGAINING POWER OF SUPPLIERS 48
5.1.2 BARGAINING POWER OF BUYERS 49
5.1.3 THREAT OF NEW ENTRANTS 49
5.1.4 THREAT OF SUBSTITUTES 49
5.1.5 INTENSITY OF COMPETITIVE RIVALRY 49
5.2 MACROECONOMIC OUTLOOK 50
5.2.1 INTRODUCTION 50
5.2.2 GDP TRENDS AND FORECAST 50
5.2.3 INFLATION 51
5.2.4 MANUFACTURING VALUE ADDED (% OF GDP) 51
5.2.5 TRENDS IN GLOBAL ELECTRICAL INDUSTRY 52
5.2.6 TRENDS IN GLOBAL AUTOMOTIVE INDUSTRY 53
5.3 VALUE CHAIN ANALYSIS 53
5.3.1 COST ANALYSIS FOR SYNCHRONOUS CONDENSER (HYDROGEN, AIR, AND WATER COOLED) 55
5.3.2 ANALYSIS ON ADDITIONAL EQUIPMENT REQUIRED FOR SYNCHRONOUS CONDENSER 56
5.4 ECOSYSTEM ANALYSIS 56
5.5 PRICING ANALYSIS 58
5.5.1 INDICATIVE SELLING PRICE TREND, BY REACTIVE POWER RATING, 2024 58
5.5.2 AVERAGE SELLING PRICE TREND, BY REGION, 2022–2024 59
5.6 TRADE ANALYSIS 59
5.6.1 EXPORT SCENARIO (HS CODE 8501) 59
5.6.2 IMPORT SCENARIO (HS CODE 8501) 61
5.7 KEY CONFERENCES AND EVENTS, 2025–2026 62
5.8 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 63
5.9 INVESTMENT AND FUNDING SCENARIO 63
5.10 CASE STUDY ANALYSIS 64
5.10.1 CASE STUDY 1: USE OF GE’S SYNCHRONOUS CONDENSERS IN NORTHWEST VERMONT RELIABILITY PROJECT 64
5.10.2 CASE STUDY 2: REFURBISHMENT OF SYNCHRONOUS GENERATORS TO SYNCHRONOUS CONDENSERS 65
5.11 IMPACT OF 2025 US TARIFFS—SYNCHRONOUS CONDENSER MARKET 65
5.11.1 INTRODUCTION 65
5.11.2 KEY TARIFF RATES 66
5.11.3 PRICE IMPACT ANALYSIS 67
5.11.4 IMPACT ON COUNTRIES/REGIONS 67
5.11.4.1 US 67
5.11.4.2 Europe 68
5.11.4.3 Asia Pacific 68
5.11.5 IMPACT ON END-USE INDUSTRIES 69
6 TECHNOLOGICAL ADVANCEMENTS, AI-DRIVEN IMPACT, PATENTS, INNOVATIONS, AND FUTURE APPLICATIONS 70
6.1 KEY EMERGING TECHNOLOGIES 70
6.1.1 HYBRID SYNCHRONOUS CONDENSER WITH FLYWHEEL ENERGY STORAGE 70
6.2 ADJACENT TECHNOLOGIES 70
6.2.1 STATCOM (STATIC SYNCHRONOUS COMPENSATOR) 70
6.2.2 GRID-SCALE BATTERY ENERGY STORAGE SYSTEMS (BESS) 71
6.3 TECHNOLOGY ROADMAP 71
6.4 PATENT ANALYSIS 72
6.5 FUTURE APPLICATIONS 73
6.6 IMPACT OF AI/GEN AI ON SYNCHRONOUS CONDENSER MARKET 74
6.6.1 BEST TOP USE CASES AND MARKET POTENTIAL 74
6.6.2 BEST PRACTICES FOLLOWED BY MANUFACTURERS 75
6.6.3 CASE STUDIES OF AI IMPLEMENTATION 75
6.6.4 INTERCONNECTED ADJACENT ECOSYSTEMS AND IMPACT ON MARKET PLAYERS 76
6.6.5 CLIENTS’ READINESS TO ADOPT GENERATIVE AI 76
7 SUSTAINABILITY AND REGULATORY LANDSCAPE 77
7.1 REGIONAL REGULATIONS AND COMPLIANCE 77
7.1.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 77
7.1.2 INDUSTRY STANDARDS 81
7.1.2.1 Codes and regulations related to synchronous condensers 81
7.2 SUSTAINABILITY INITIATIVES 82
7.2.1 INTRODUCTION 82
7.2.2 SUSTAINABILITY INITIATIVES 82
7.2.3 IMPACT OF REGULATORY POLICIES ON SUSTAINABILITY INITIATIVES 83
8 CUSTOMER LANDSCAPE & BUYER BEHAVIOR 84
8.1 INTRODUCTION 84
8.2 DECISION-MAKING PROCESS (SYNCHRONOUS CONDENSER VS STATCOM) 84
8.3 BUYER STAKEHOLDERS AND BUYING EVALUATION CRITERIA 86
8.3.1 KEY STAKEHOLDERS IN BUYING PROCESS 86
8.3.2 BUYING CRITERIA 87
8.4 ADOPTION BARRIERS & INTERNAL CHALLENGES 87
8.5 UNMET NEEDS OF VARIOUS END-USE INDUSTRIES 88
8.6 MARKET OPPORTUNITIES 88
9 SYNCHRONOUS CONDENSER MARKET, BY TYPE 89
9.1 INTRODUCTION 90
9.2 NEW SYNCHRONOUS CONDENSERS 91
9.2.1 RISING EXPANSION OF HVDC NETWORKS TO INCREASE INSTALLATION OF NEW SYNCHRONOUS CONDENSERS 91
9.3 REFURBISHED SYNCHRONOUS CONDENSERS 92
9.3.1 LOW COST OF REFURBISHED CONDENSERS TO FUEL DEMAND 92
10 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING 94
10.1 INTRODUCTION 95
10.2 UP TO 100 MVAR 96
10.2.1 RISING USE OF LOCALIZED GRID STABILIZATION AND POWER QUALITY IMPROVEMENT TO FUEL MARKET GROWTH 96
10.3 101–200 MVAR 97
10.3.1 INCREASING REQUIREMENT FOR FLEXIBLE, HIGH-PERFORMANCE VOLTAGE SUPPORT SOLUTIONS TO FUEL MARKET GROWTH 97
10.4 ABOVE 200 MVAR 98
10.4.1 HIGH-CAPACITY GRID REINFORCEMENT DRIVING DEMAND FOR ABOVE
200 MVAR SYNCHRONOUS CONDENSERS 98
11 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY 100
11.1 INTRODUCTION 101
11.2 HYDROGEN-COOLED SYNCHRONOUS CONDENSERS 102
11.2.1 RISING GRID STABILITY REQUIREMENTS TO FUEL MARKET GROWTH 102
11.3 AIR-COOLED SYNCHRONOUS CONDENSERS 103
11.3.1 EXCELLENT COOLING EFFICACY TO PROPEL DEMAND 103
11.4 WATER-COOLED SYNCHRONOUS CONDENSERS 104
11.4.1 HIGHER EFFICIENCY THAN HYDROGEN-COOLED CONDENSERS
TO FUEL DEMAND 104

12 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 106
12.1 INTRODUCTION 107
12.2 STATIC FREQUENCY CONVERTER 108
12.2.1 LOW INSTALLATION COST OF STATIC FREQUENCY CONVERTER TO FUEL DEMAND 108
12.3 PONY MOTOR 109
12.3.1 LOW COST AND ABILITY TO START LOW-CAPACITY SYNCHRONOUS CONDENSERS TO FUEL DEMAND GROWTH 109
12.4 OTHER STARTING METHODS 110
13 SYNCHRONOUS CONDENSER MARKET, BY END USER 112
13.1 INTRODUCTION 113
13.2 ELECTRICAL UTILITIES 114
13.2.1 RISING NEED TO MAINTAIN GRID STABILITY AMID RISING PENETRATION OF INVERTER-BASED RENEWABLE ENERGY SOURCES TO FUEL THE MARKET 114
13.3 INDUSTRIAL SECTOR 115
13.3.1 GOVERNMENT EXPANSION OF ENERGY-INTENSIVE OPERATIONS TO BOOST MARKET GROWTH 115
14 SYNCHRONOUS CONDENSER MARKET, BY REGION 117
14.1 INTRODUCTION 118
14.2 NORTH AMERICA 120
14.2.1 US 125
14.2.1.1 Transition toward inverter-dominated power systems to boost demand 125
14.2.2 CANADA 126
14.2.2.1 Hydro-dominated and renewable-heavy networks drive long-term adoption 126
14.3 EUROPE 127
14.3.1 DENMARK 132
14.3.1.1 Government-led initiatives and world-leading wind integration to fuel demand for synchronous condensers 132
14.3.2 ITALY 133
14.3.2.1 Terna’s advanced synchronous condenser fleet and southern grid reinforcement strategy fueling market growth 133
14.3.3 GERMANY 133
14.3.3.1 Energiewende acceleration, massive solar/wind expansion, and TSO inertia procurement boosting market growth 133
14.3.4 NORWAY 134
14.3.4.1 Hydropower-rich backbone combined with growing offshore wind requiring enhanced grid inertia solutions 134
14.3.5 REST OF EUROPE 135

14.4 ASIA PACIFIC 136
14.4.1 CHINA 140
14.4.1.1 Rising advanced grid modernization programs to fuel market growth 140
14.4.2 AUSTRALIA 141
14.4.2.1 Rise of domestic mineral processing and battery-material refining to fuel market growth 141
14.4.3 REST OF ASIA PACIFIC 142
14.5 SOUTH AMERICA 143
14.5.1 BRAZIL 147
14.5.1.1 Expanding hydropower, wind, and solar projects to offer growth opportunities 147
14.5.2 REST OF SOUTH AMERICA 148
14.6 MIDDLE EAST & AFRICA 149
14.6.1 KENYA 153
14.6.1.1 High renewable penetration and KETRACO’s transmission upgrades driving demand for synchronous condensers 153
14.6.2 REST OF MIDDLE EAST & AFRICA 154
15 COMPETITIVE LANDSCAPE 156
15.1 OVERVIEW 156
15.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2021–2026 156
15.3 MARKET SHARE ANALYSIS, 2024 157
15.4 REVENUE ANALYSIS, 2020–2024 160
15.5 PRODUCT COMPARISON 161
15.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024 162
15.6.1 STARS 162
15.6.2 EMERGING LEADERS 162
15.6.3 PERVASIVE PLAYERS 162
15.6.4 PARTICIPANTS 162
15.6.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024 164
15.6.5.1 Company footprint 164
15.6.5.2 Region footprint 165
15.6.5.3 End-user footprint 166
15.6.5.4 Cooling technology footprint 167
15.6.5.5 Reactive Power rating footprint 168
15.7 COMPANY VALUATION AND FINANCIAL METRICS 169
15.8 COMPETITIVE SCENARIO 170
15.8.1 DEALS 170
15.8.2 EXPANSIONS 171
15.8.3 OTHER DEVELOPMENTS 171

16 COMPANY PROFILES 173
16.1 KEY PLAYERS 173
16.1.1 ABB 173
16.1.1.1 Business overview 173
16.1.1.2 Products/Solutions/Services offered 174
16.1.1.3 Recent developments 175
16.1.1.3.1 Deals 175
16.1.1.3.2 Other developments 175
16.1.1.4 MnM view 176
16.1.1.4.1 Key strengths/Right to win 176
16.1.1.4.2 Strategic choices 176
16.1.1.4.3 Weaknesses/Competitive threats 176
16.1.2 SIEMENS ENERGY 177
16.1.2.1 Business overview 177
16.1.2.2 Products/Solutions/Services offered 178
16.1.2.3 Recent developments 179
16.1.2.3.1 Deals 179
16.1.2.3.2 Other developments 179
16.1.2.4 MnM view 180
16.1.2.4.1 Key strengths/Right to win 180
16.1.2.4.2 Strategic choices 180
16.1.2.4.3 Weaknesses/Competitive threats 180
16.1.3 GE VERNOVA 181
16.1.3.1 Business overview 181
16.1.3.2 Products/Solutions/Services offered 182
16.1.3.3 Recent developments 183
16.1.3.3.1 Other developments 183
16.1.3.4 MnM view 183
16.1.3.4.1 Key strengths 183
16.1.3.4.2 Strategic choices 184
16.1.3.4.3 Weaknesses/Competitive threats 184
16.1.4 WEG 185
16.1.4.1 Business overview 185
16.1.4.2 Products/Services/Solutions offered 186
16.1.4.3 Recent developments 187
16.1.4.3.1 Deals 187
16.1.4.3.2 Other developments 187
16.1.4.3.3 Expansions 188
16.1.4.4 MnM view 188
16.1.4.4.1 Key strengths/Right to win 188
16.1.4.4.2 Strategic choices 188
16.1.4.4.3 Weaknesses/Competitive threats 188
16.1.5 EATON 189
16.1.5.1 Business overview 189
16.1.5.2 Products/Solutions/Services offered 190
16.1.5.3 Recent developments 191
16.1.5.3.1 Deals 191
16.1.5.4 MnM view 191
16.1.5.4.1 Key strengths/Right to win 191
16.1.5.4.2 Strategic choices 191
16.1.5.4.3 Weaknesses/Competitive threats 191
16.1.6 ANDRITZ 192
16.1.6.1 Business overview 192
16.1.6.2 Products/Solutions/Services offered 193
16.1.6.3 Recent developments 194
16.1.6.3.1 Other developments 194
16.1.7 ANSALDO ENERGIA 196
16.1.7.1 Business overview 196
16.1.7.2 Products/Services/Solutions offered 197
16.1.7.3 Recent developments 198
16.1.7.3.1 Other developments 198
16.1.7.3.2 Expansions 198
16.1.8 VOITH GMBH & CO. KGAA 199
16.1.8.1 Business overview 199
16.1.8.2 Products/Services/Solutions offered 199
16.1.9 MITSUBISHI ELECTRIC POWER PRODUCTS, INC. 200
16.1.9.1 Business overview 200
16.1.9.2 Products/Solutions/Services offered 200
16.1.9.3 Recent developments 201
16.1.9.3.1 Deals 201
16.1.9.3.2 Other developments 201
16.1.10 BHARAT HEAVY ELECTRICALS LIMITED 202
16.1.10.1 Business overview 202
16.1.10.2 Products/Solutions/Services offered 203
16.1.11 DOOSAN ŠKODA POWER 204
16.1.11.1 Business overview 204
16.1.11.2 Products/Solutions/Services offered 205
16.1.12 SHANGHAI ELECTRIC 206
16.1.12.1 Business overview 206
16.1.12.2 Products/Solutions/Services offered 207
16.1.12.3 Recent developments 207
16.1.12.3.1 Other developments 207

16.1.13 BAKER HUGHES COMPANY 208
16.1.13.1 Business overview 208
16.1.13.2 Products/Solutions/Services offered 209
16.1.13.3 Recent developments 210
16.1.13.3.1 Deals 210
16.1.14 HITACHI ENERGY LTD 211
16.1.14.1 Business overview 211
16.1.14.2 Products/Solutions/Services offered 212
16.1.14.3 Recent developments 213
16.1.14.3.1 Other developments 213
16.1.15 WOLONG ELECTRIC GROUP 214
16.1.15.1 Business overview 214
16.1.15.2 Products/Solutions/Services offered 214
16.2 OTHER PLAYERS 215
16.2.1 INGETEAM 215
16.2.2 ANHUI ZHONGDIAN ELECTRIC CO., LTD. 216
16.2.3 IDEAL ELECTRIC POWER CO. 216
16.2.4 POWER SYSTEMS & CONTROLS, INC. 217
16.2.5 ELECTROMECHANICAL ENGINEERING ASSOCIATES, INC. 217
17 RESEARCH METHODOLOGY 218
17.1 RESEARCH DATA 218
17.2 SECONDARY AND PRIMARY RESEARCH 219
17.2.1 SECONDARY DATA 219
17.2.1.1 List of key secondary sources 219
17.2.1.2 Key data from secondary sources 220
17.2.2 PRIMARY DATA 220
17.2.2.1 List of primary interview participants 220
17.2.2.2 Key industry insights 221
17.2.2.3 Breakdown of primaries 221
17.2.2.4 Key data from primary sources 222
17.3 MARKET SIZE ESTIMATION METHODOLOGY 222
17.3.1 BOTTOM-UP APPROACH 222
17.3.2 TOP-DOWN APPROACH 223
17.3.3 DEMAND-SIDE ANALYSIS 224
17.3.3.1 Demand-side assumptions 224
17.3.3.2 Demand-side calculations 224
17.3.4 SUPPLY-SIDE ANALYSIS 225
17.3.4.1 Supply-side assumptions 226
17.3.4.2 Supply-side calculations 226
17.4 FORECAST 227
17.5 MARKET BREAKDOWN AND DATA TRIANGULATION 228
17.6 RESEARCH LIMITATIONS 229
17.7 RISK ANALYSIS 229
18 APPENDIX 230
18.1 DISCUSSION GUIDE 230
18.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 234
18.3 CUSTOMIZATION OPTIONS 236
18.4 RELATED REPORTS 236
18.5 AUTHOR DETAILS 237

LIST OF TABLES

TABLE 1 SYNCHRONOUS CONDENSER MARKET: INCLUSIONS AND EXCLUSIONS 26
TABLE 2 COMPARISON BETWEEN SYNCHRONOUS CONDENSER AND ITS SUBSTITUTES 43
TABLE 3 PORTER’S FIVE FORCES ANALYSIS 47
TABLE 4 WORLDWIDE GDP GROWTH PROJECTION, 2021–2028 (USD TRILLION) 50
TABLE 5 INFLATION RATE, AVERAGE CONSUMER PRICES, ANNUAL PERCENT
CHANGE (2024%) 51
TABLE 6 MANUFACTURING, VALUE ADDED (% OF GDP), BY COUNTRY, 2023 52
TABLE 7 COST ANALYSIS FOR COOLING TECHNOLOGY 56
TABLE 8 ROLE OF COMPANIES IN SYNCHRONOUS CONDENSER ECOSYSTEM 57
TABLE 9 INDICATIVE SELLING PRICE TREND OF SYNCHRONOUS CONDENSERS,
BY REACTIVE POWER RATING, 2024 (USD MILLION) 58
TABLE 10 AVERAGE SELLING PRICE TREND OF SYNCHRONOUS CONDENSERS,
BY REGION, 2022–2024 (USD/KVAR) 59
TABLE 11 EXPORT DATA FOR HS CODE 8501-COMPLIANT PRODUCTS, BY COUNTRY,
2021–2024 (USD THOUSAND) 60
TABLE 12 IMPORT DATA FOR HS CODE 8501-COMPLIANT PRODUCTS, BY COUNTRY,
2021–2024 (USD THOUSAND) 61
TABLE 13 KEY CONFERENCES AND EVENTS, 2025–2026 62
TABLE 14 US-ADJUSTED RECIPROCAL TARIFF RATES, 2024 (USD BILLION) 66
TABLE 15 LIST OF KEY PATENTS RELATED TO SYNCHRONOUS CONDENSER TECHNOLOGY, 2020–2025 73
TABLE 16 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 77
TABLE 17 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 78
TABLE 18 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 79
TABLE 19 REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 80
TABLE 20 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 80
TABLE 21 SYNCHRONOUS CONDENSER MARKET: CODES AND REGULATIONS 81
TABLE 22 TECHNICAL COMPARISON: SYNCHRONOUS CONDENSER VS. STATCOM 85
TABLE 23 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR END USERS 86
TABLE 24 KEY BUYING CRITERIA FOR TOP END USERS 87
TABLE 25 SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2021–2024 (USD MILLION) 90
TABLE 26 SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2025–2030 (USD MILLION) 90
TABLE 27 NEW SYNCHRONOUS CONDENSER MARKET, BY REGION,
2021–2024 (USD MILLION) 91
TABLE 28 NEW SYNCHRONOUS CONDENSER MARKET, BY REGION,
2025–2030 (USD MILLION) 91
TABLE 29 REFURBISHED SYNCHRONOUS CONDENSER MARKET, BY REGION,
2021–2024 (USD MILLION) 92
TABLE 30 REFURBISHED SYNCHRONOUS CONDENSER MARKET, BY REGION,
2025–2030 (USD MILLION) 92
TABLE 31 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING,
2021–2024 (USD MILLION) 95
TABLE 32 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING,
2025–2030 (USD MILLION) 96
TABLE 33 UP TO 100 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2021–2024 (USD MILLION) 97
TABLE 34 UP TO 100 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2025–2030 (USD MILLION) 97
TABLE 35 101–200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2021–2024 (USD MILLION) 98
TABLE 36 101–200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2025–2030 (USD MILLION) 98
TABLE 37 ABOVE 200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2021–2024 (USD MILLION) 99
TABLE 38 ABOVE 200 MVAR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2025–2030 (USD MILLION) 99
TABLE 39 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY,
2021–2024 (USD MILLION) 101
TABLE 40 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY,
2025–2030 (USD MILLION) 102
TABLE 41 HYDROGEN-COOLED SYNCHRONOUS CONDENSER MARKET, BY REGION,
2021–2024 (USD MILLION) 103
TABLE 42 HYDROGEN-COOLED SYNCHRONOUS CONDENSER MARKET, BY REGION,
2025–2030 (USD MILLION) 103
TABLE 43 AIR-COOLED SYNCHRONOUS CONDENSER MARKET, BY REGION,
2021–2024 (USD MILLION) 104
TABLE 44 AIR-COOLED SYNCHRONOUS CONDENSER MARKET, BY REGION,
2025–2030 (USD MILLION) 104
TABLE 45 WATER-COOLED SYNCHRONOUS CONDENSER MARKET, BY REGION,
2021–2024 (USD MILLION) 105
TABLE 46 WATER-COOLED SYNCHRONOUS CONDENSER MARKET, BY REGION,
2025–2030 (USD MILLION) 105
TABLE 47 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD,
2021–2024 (USD MILLION) 107
TABLE 48 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD,
2025–2030 (USD MILLION) 108
TABLE 49 STATIC FREQUENCY CONVERTER: SYNCHRONOUS CONDENSER MARKET,
BY REGION, 2021–2024 (USD MILLION) 108
TABLE 50 STATIC FREQUENCY CONVERTER: SYNCHRONOUS CONDENSER MARKET,
BY REGION, 2025–2030 (USD MILLION) 109
TABLE 51 PONY MOTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2021–2024 (USD MILLION) 110
TABLE 52 PONY MOTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2025–2030 (USD MILLION) 110
TABLE 53 OTHER STARTING METHODS: SYNCHRONOUS CONDENSER MARKET,
BY REGION, 2021–2024 (USD MILLION) 111
TABLE 54 OTHER STARTING METHODS: SYNCHRONOUS CONDENSER MARKET,
BY REGION, 2025–2030 (USD MILLION) 111
TABLE 55 SYNCHRONOUS CONDENSER MARKET, BY END USER, 2021–2024 (USD MILLION) 113
TABLE 56 SYNCHRONOUS CONDENSER MARKET, BY END USER, 2025–2030 (USD MILLION) 114
TABLE 57 ELECTRICAL UTILITIES: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2021–2024 (USD MILLION) 114
TABLE 58 ELECTRICAL UTILITIES: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2025–2030 (USD MILLION) 115
TABLE 59 INDUSTRIAL SECTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2021–2024 (USD MILLION) 115
TABLE 60 INDUSTRIAL SECTOR: SYNCHRONOUS CONDENSER MARKET, BY REGION,
2025–2030 (USD MILLION) 116
TABLE 61 SYNCHRONOUS CONDENSER MARKET, BY REGION, 2021–2024 (USD MILLION) 119
TABLE 62 SYNCHRONOUS CONDENSER MARKET, BY REGION, 2025–2030 (USD MILLION) 119
TABLE 63 SYNCHRONOUS CONDENSER MARKET, BY REGION, 2021–2024 (UNITS) 120
TABLE 64 SYNCHRONOUS CONDENSER MARKET, BY REGION, 2025–2030 (UNITS) 120
TABLE 65 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2021–2024 (USD MILLION) 122
TABLE 66 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2025–2030 (USD MILLION) 122
TABLE 67 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2021–2024 (USD MILLION) 122
TABLE 68 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2025–2030 (USD MILLION) 122
TABLE 69 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2021–2024 (USD MILLION) 123
TABLE 70 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2025–2030 (USD MILLION) 123
TABLE 71 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2021–2024 (USD MILLION) 123
TABLE 72 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2025–2030 (USD MILLION) 123
TABLE 73 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER
2021–2024 (USD MILLION) 124
TABLE 74 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2025–2030 (USD MILLION) 124
TABLE 75 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2021–2024 (USD MILLION) 124
TABLE 76 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2025–2030 (USD MILLION) 124
TABLE 77 US: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2021–2024 (USD MILLION) 125
TABLE 78 US: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2025–2030 (USD MILLION) 126
TABLE 79 CANADA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2021–2024 (USD MILLION) 126
TABLE 80 CANADA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2025–2030 (USD MILLION) 127
TABLE 81 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2021–2024 (USD MILLION) 128
TABLE 82 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2025–2030 (USD MILLION) 128
TABLE 83 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2021–2024 (USD MILLION) 129
TABLE 84 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2025–2030 (USD MILLION) 129
TABLE 85 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD,
2021–2024 (USD MILLION) 129
TABLE 86 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD,
2025–2030 (USD MILLION) 129
TABLE 87 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2021–2024 (USD MILLION) 130
TABLE 88 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2025–2030 (USD MILLION) 130
TABLE 89 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2021–2024 (USD MILLION) 130
TABLE 90 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2025–2030 (USD MILLION) 131
TABLE 91 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2021–2024 (USD MILLION) 131
TABLE 92 EUROPE: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2025–2030 (USD MILLION) 131
TABLE 93 DENMARK: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2021–2024 (USD MILLION) 132
TABLE 94 DENMARK: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2025–2030 (USD MILLION) 132
TABLE 95 ITALY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2021–2024 (USD MILLION) 133
TABLE 96 ITALY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2025–2030 (USD MILLION) 133
TABLE 97 GERMANY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2021–2024 (USD MILLION) 134
TABLE 98 GERMANY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2025–2030 (USD MILLION) 134
TABLE 99 NORWAY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2021–2024 (USD MILLION) 135
TABLE 100 NORWAY: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2025–2030 (USD MILLION) 135
TABLE 101 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2021–2024 (USD MILLION) 136
TABLE 102 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2025–2030 (USD MILLION) 136
TABLE 103 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2021–2024 (USD MILLION) 137
TABLE 104 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2025–2030 (USD MILLION) 137
TABLE 105 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2021–2024 (USD MILLION) 137
TABLE 106 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2025–2030 (USD MILLION) 138
TABLE 107 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2021–2024 (USD MILLION) 138
TABLE 108 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2025–2030 (USD MILLION) 138
TABLE 109 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2021–2024 (USD MILLION) 138
TABLE 110 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2025–2030 (USD MILLION) 139
TABLE 111 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2021–2024 (USD MILLION) 139
TABLE 112 ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2025–2030 (USD MILLION) 139
TABLE 113 ASIA PACIFIC: INDUCTION HEATING MARKET, BY COUNTRY,
2021–2024 (USD MILLION) 139
TABLE 114 ASIA PACIFIC: INDUCTION MARKET, BY COUNTRY, 2025–2030 (USD MILLION) 140
TABLE 115 CHINA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2021–2024 (USD MILLION) 141
TABLE 116 CHINA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2025–2030 (USD MILLION) 141
TABLE 117 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2021–2024 (USD MILLION) 142
TABLE 118 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2025–2030 (USD MILLION) 142
TABLE 119 REST OF ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2021–2024 (USD MILLION) 143
TABLE 120 REST OF ASIA PACIFIC: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2025–2030 (USD MILLION) 143
TABLE 121 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2021–2024 (USD MILLION) 144
TABLE 122 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2025–2030 (USD MILLION) 144
TABLE 123 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2021–2024 (USD MILLION) 144
TABLE 124 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2025–2030 (USD MILLION) 144
TABLE 125 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2021–2024 (USD MILLION) 145
TABLE 126 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2025–2030 (USD MILLION) 145
TABLE 127 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2021–2024 (USD MILLION) 145
TABLE 128 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2025–2030 (USD MILLION) 146
TABLE 129 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2021–2024 (USD MILLION) 146
TABLE 130 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2025–2030 (USD MILLION) 146
TABLE 131 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2021–2024 (USD MILLION) 146
TABLE 132 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY,
2025–2030 (USD MILLION) 147
TABLE 133 BRAZIL: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2021–2024 (USD MILLION) 147
TABLE 134 BRAZIL: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2025–2030 (USD MILLION) 148
TABLE 135 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2021–2024 (USD MILLION) 148
TABLE 136 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2025–2030 (USD MILLION) 149
TABLE 137 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2021–2024 (USD MILLION) 149
TABLE 138 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY TYPE,
2025–2030 (USD MILLION) 150
TABLE 139 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2021–2024 (USD MILLION) 150
TABLE 140 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2025–2030 (USD MILLION) 150
TABLE 141 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2021–2024 (USD MILLION) 151
TABLE 142 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2025–2030 (USD MILLION) 151
TABLE 143 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2021–2024 (USD MILLION) 151
TABLE 144 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2025–2030 (USD MILLION) 152
TABLE 145 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2021–2024 (USD MILLION) 152
TABLE 146 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY END USER, 2025–2030 (USD MILLION) 152
TABLE 147 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2021–2024 (USD MILLION) 152
TABLE 148 MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET, BY COUNTRY, 2025–2030 (USD MILLION) 153
TABLE 149 KENYA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2021–2024 (USD MILLION) 154
TABLE 150 KENYA: SYNCHRONOUS CONDENSER MARKET, BY END USER,
2025–2030 (USD MILLION) 154
TABLE 151 REST OF MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2021–2024 (USD MILLION) 155
TABLE 152 REST OF MIDDLE EAST & AFRICA: SYNCHRONOUS CONDENSER MARKET,
BY END USER, 2025–2030 (USD MILLION) 155
TABLE 153 OVERVIEW OF KEY STRATEGIES ADOPTED BY KEY PLAYERS, 2021–2026 156
TABLE 154 SYNCHRONOUS CONDENSER MARKET: DEGREE OF COMPETITION 158
TABLE 155 SYNCHRONOUS CONDENSER MARKET: REGION FOOTPRINT 165
TABLE 156 SYNCHRONOUS CONDENSER MARKET: END-USER FOOTPRINT 166
TABLE 157 SYNCHRONOUS CONDENSER MARKET: COOLING TECHNOLOGY FOOTPRINT 167
TABLE 158 SYNCHRONOUS CONDENSER MARKET: REACTIVE POWER RATING FOOTPRINT 168
TABLE 159 SYNCHRONOUS CONDENSER MARKET: DEALS, JANUARY 2021–JANUARY 2026 170
TABLE 160 SYNCHRONOUS CONDENSER MARKET: EXPANSIONS,
JANUARY 2021–JANUARY 2026 171
TABLE 161 SYNCHRONOUS CONDENSER MARKET: OTHER DEVELOPMENTS,
JANUARY 2021–JANUARY 2026 171
TABLE 162 ABB: COMPANY OVERVIEW 173
TABLE 163 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED 174
TABLE 164 ABB: DEALS 175

TABLE 165 ABB: OTHER DEVELOPMENTS 175
TABLE 166 SIEMENS ENERGY: COMPANY OVERVIEW 177
TABLE 167 SIEMENS ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 178
TABLE 168 SIEMENS ENERGY: DEALS 179
TABLE 169 SIEMENS ENERGY: OTHER DEVELOPMENTS 179
TABLE 170 GE VERNOVA: COMPANY OVERVIEW 181
TABLE 171 GE VERNOVA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 182
TABLE 172 GE VERNOVA: OTHER DEVELOPMENTS 183
TABLE 173 WEG: COMPANY OVERVIEW 185
TABLE 174 WEG: PRODUCTS/SERVICES/SOLUTIONS OFFERED 186
TABLE 175 WEG: DEALS 187
TABLE 176 WEG: OTHER DEVELOPMENTS 187
TABLE 177 WEG: EXPANSIONS 188
TABLE 178 EATON: COMPANY OVERVIEW 189
TABLE 179 EATON: PRODUCTS/SOLUTIONS/SERVICES OFFERED 190
TABLE 180 EATON: DEALS 191
TABLE 181 ANDRITZ: COMPANY OVERVIEW 192
TABLE 182 ANDRITZ: PRODUCTS/SOLUTIONS/SERVICES OFFERED 193
TABLE 183 ANDRITZ: OTHER DEVELOPMENTS 194
TABLE 184 ANSALDO ENERGIA: COMPANY OVERVIEW 196
TABLE 185 ANSALDO ENERGIA: PRODUCTS/SERVICES/SOLUTIONS OFFERED 197
TABLE 186 ANSALDO ENERGIA: OTHER DEVELOPMENTS 198
TABLE 187 ANSALDO ENERGIA: EXPANSIONS 198
TABLE 188 VOITH GMBH & CO. KGAA: COMPANY OVERVIEW 199
TABLE 189 VOITH GMBH & CO. KGAA: PRODUCTS/SERVICES/SOLUTIONS OFFERED 199
TABLE 190 MITSUBISHI ELECTRIC POWER PRODUCTS, INC.: COMPANY OVERVIEW 200
TABLE 191 MITSUBISHI ELECTRIC POWER PRODUCTS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 200
TABLE 192 MITSUBISHI ELECTRIC POWER PRODUCTS, INC.: DEALS 201
TABLE 193 MITSUBISHI ELECTRIC POWER PRODUCTS, INC.: OTHER DEVELOPMENTS 201
TABLE 194 BHARAT HEAVY ELECTRICALS LIMITED: COMPANY OVERVIEW 202
TABLE 195 BHARAT HEAVY ELECTRICALS LIMITED: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 203
TABLE 196 DOOSAN ŠKODA POWER: COMPANY OVERVIEW 204
TABLE 197 DOOSAN ŠKODA POWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 205
TABLE 198 SHANGHAI ELECTRIC: COMPANY OVERVIEW 206
TABLE 199 SHANGHAI ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 207
TABLE 200 SHANGHAI ELECTRIC: OTHER DEVELOPMENTS 207
TABLE 201 BAKER HUGHES COMPANY: COMPANY OVERVIEW 208
TABLE 202 BAKER HUGHES COMPANY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 209
TABLE 203 BAKER HUGHES COMPANY: DEALS 210
TABLE 204 HITACHI ENERGY LTD: COMPANY OVERVIEW 211
TABLE 205 HITACHI ENERGY LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 212

TABLE 206 HITACHI ENERGY LTD: OTHER DEVELOPMENTS 213
TABLE 207 WOLONG ELECTRIC GROUP: COMPANY OVERVIEW 214
TABLE 208 WOLONG ELECTRIC GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 214
TABLE 209 LIST OF PRIMARY INTERVIEW PARTICIPANTS 220
TABLE 210 DATA OBTAINED FROM PRIMARY SOURCES 222

LIST OF FIGURES

FIGURE 1 SYNCHRONOUS CONDENSER MARKET SEGMENTATION AND REGIONAL SCOPE 25
FIGURE 2 MARKET SCENARIO 28
FIGURE 3 GLOBAL SYNCHRONOUS CONDENSER MARKET, 2021–2030 29
FIGURE 4 MAJOR STRATEGIES ADOPTED BY KEY PLAYERS IN SYNCHRONOUS CONDENSER MARKET, 2021–2025 29
FIGURE 5 DISRUPTIONS INFLUENCING SYNCHRONOUS CONDENSER MARKET GROWTH 30
FIGURE 6 HIGH-GROWTH SEGMENTS IN SYNCHRONOUS CONDENSER MARKET, 2024 31
FIGURE 7 NORTH AMERICA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 32
FIGURE 8 EXPANDING RENEWABLE ENERGY & GRID MODERNIZATION TO OFFER GROWTH OPPORTUNITIES 33
FIGURE 9 NEW SYNCHRONOUS CONDENSER TYPE SEGMENT AND NORTH AMERICA ACCOUNTED FOR LARGEST MARKET SHARES IN 2024 34
FIGURE 10 NEW SYNCHRONOUS CONDENSERS TO HOLD DOMINANT MARKET SHARE 34
FIGURE 11 HYDROGEN-COOLED CONDENSERS TO HOLD LARGEST MARKET SHARE TILL 2030 35
FIGURE 12 STATIC FREQUENCY CONVERTERS TO EMERGE AS LARGEST MARKET SEGMENT 35
FIGURE 13 ABOVE 200 MVAR SEGMENT TO REGISTER HIGHEST DEMAND DURING
FORECAST PERIOD 36
FIGURE 14 ELECTRICAL UTILITIES FORM THE LARGER END-USER SEGMENT 36
FIGURE 15 NORWAY TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 37
FIGURE 16 SYNCHRONOUS CONDENSER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 38
FIGURE 17 INSTALLED RENEWABLE ELECTRICITY GENERATING CAPACITY, 2025–2035 40
FIGURE 18 SYNCHRONOUS CONDENSER MARKET: PORTER’S FIVE FORCES ANALYSIS 48
FIGURE 19 SYNCHRONOUS CONDENSER MARKET: VALUE CHAIN ANALYSIS 54
FIGURE 20 SYNCHRONOUS CONDENSER MARKET: ECOSYSTEM ANALYSIS 57
FIGURE 21 AVERAGE SELLING PRICE TREND OF SYNCHRONOUS CONDENSERS,
BY REGION, 2022–2024 59
FIGURE 22 EXPORT SCENARIO FOR HS CODE 8501-COMPLIANT PRODUCTS IN
TOP 5 COUNTRIES, 2021–2024 60
FIGURE 23 IMPORT SCENARIO FOR HS CODE 8501-COMPLIANT PRODUCTS IN
TOP 5 COUNTRIES, 2021–2024 62
FIGURE 24 TRENDS/DISRUPTIONS INFLUENCING CUSTOMER BUSINESS 63
FIGURE 25 INVESTMENT AND FUNDING SCENARIO, BY COMPANY 64
FIGURE 26 SYNCHRONOUS CONDENSER MARKET: PATENTS APPLIED AND GRANTED,
2015–2024 72
FIGURE 27 DECISION-MAKING PROCESS 85
FIGURE 28 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF SYNCHRONOUS CONDENSER MARKET 86
FIGURE 29 KEY BUYING CRITERIA FOR END USERS 87
FIGURE 30 SYNCHRONOUS CONDENSER MARKET, BY TYPE, 2024 90
FIGURE 31 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING, 2024 95
FIGURE 32 SYNCHRONOUS CONDENSER MARKET, BY COOLING TECHNOLOGY, 2024 101
FIGURE 33 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD, 2024 107
FIGURE 34 SYNCHRONOUS CONDENSER MARKET, BY END USER, 2024 113
FIGURE 35 NORWAY TO REGISTER THE HIGHEST CAGR IN SYNCHRONOUS CONDENSER MARKET DURING FORECAST PERIOD 118
FIGURE 36 NORTH AMERICA HELD LARGEST MARKET SHARE IN 2024 119
FIGURE 37 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 121
FIGURE 38 EUROPE: SYNCHRONOUS CONDENSER MARKET SNAPSHOT 128
FIGURE 39 MARKET SHARE ANALYSIS OF COMPANIES OFFERING SYNCHRONOUS CONDENSERS, 2024 158
FIGURE 40 REVENUE ANALYSIS OF KEY PLAYERS IN SYNCHRONOUS CONDENSER
MARKET, 2020–2024 160
FIGURE 41 SYNCHRONOUS CONDENSER MARKET: PRODUCT COMPARISON 161
FIGURE 42 SYNCHRONOUS CONDENSER MARKET: COMPANY EVALUATION
MATRIX (KEY PLAYERS), 2024 163
FIGURE 43 SYNCHRONOUS CONDENSER MARKET: COMPANY FOOTPRINT 164
FIGURE 44 COMPANY VALUATION 169
FIGURE 45 FINANCIAL METRICS 169
FIGURE 46 ABB: COMPANY SNAPSHOT 174
FIGURE 47 SIEMENS ENERGY: COMPANY SNAPSHOT 178
FIGURE 48 GE VERNOVA: COMPANY SNAPSHOT 182
FIGURE 49 WEG: COMPANY SNAPSHOT 186
FIGURE 50 EATON: COMPANY SNAPSHOT 190
FIGURE 51 ANDRITZ: COMPANY SNAPSHOT 193
FIGURE 52 ANSALDO ENERGIA: COMPANY SNAPSHOT 197
FIGURE 53 BHARAT HEAVY ELECTRICALS LIMITED: COMPANY SNAPSHOT 203
FIGURE 54 DOOSAN ŠKODA POWER: COMPANY SNAPSHOT 205
FIGURE 55 SHANGHAI ELECTRIC: COMPANY SNAPSHOT 206
FIGURE 56 BAKER HUGHES COMPANY: COMPANY SNAPSHOT 209
FIGURE 57 HITACHI ENERGY LTD: COMPANY SNAPSHOT 212
FIGURE 58 SYNCHRONOUS CONDENSER MARKET: RESEARCH DESIGN 219
FIGURE 59 KEY DATA FROM SECONDARY SOURCES 220
FIGURE 60 INSIGHTS FROM INDUSTRY EXPERTS 221
FIGURE 61 SYNCHRONOUS CONDENSER MARKET: BOTTOM-UP APPROACH 223
FIGURE 62 SYNCHRONOUS CONDENSER MARKET: TOP-DOWN APPROACH 223
FIGURE 63 KEY METRICS CONSIDERED TO ANALYZE DEMAND FOR SYNCHRONOUS CONDENSER 224
FIGURE 64 KEY METRICS CONSIDERED TO ASSESS SUPPLY OF SYNCHRONOUS CONDENSER 225
FIGURE 65 SYNCHRONOUS CONDENSER MARKET: SUPPLY-SIDE ANALYSIS 226
FIGURE 66 INDUSTRY CONCENTRATION, 2024 227
FIGURE 67 SYNCHRONOUS CONDENSER MARKET: DATA TRIANGULATION 228
FIGURE 68 SYNCHRONOUS CONDENSER MARKET: RESEARCH LIMITATIONS 229

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