Market Overview and Dynamics
The North America synchronous condenser market is projected to grow from US$ 189.95 million in 2019 to US$ 199.92 million by 2027, reflecting a modest CAGR of 1.5% from 2020 to 2027. A key driver of this growth is the conversion of existing synchronous generators into synchronous condensers. As traditional power generation sources decline—due to aging infrastructure, plant decommissioning, stricter environmental regulations, and rising competition from gas-fired turbines and renewables—many older coal-fired power plants across North America are being retired. This withdrawal reduces the available reactive power capacity in the grid. In response, there is an increasing trend of repurposing these aging power plants into synchronous condensers, which play a crucial role in stabilizing grid systems by supplying the reactive power once provided by large thermal plants. Converting existing synchronous generators presents a cost-effective and efficient solution, creating new opportunities for the North America synchronous condenser market.
📚Download Full PDF Sample Copy of Market Report @
https://www.businessmarketinsights.com/sample/TIPRE00020062
Market Introduction
By continuously generating/absorbing adjustable reactive power, enhanced short-circuit strength, and frequency stability by providing synchronous inertia, this system provides improved voltage regulation and stability. The goal is not to transform electricity into mechanical power or vice versa, but to use the reactive power control capabilities of the machines and synchronous inertia. Since the Industrial Revolution, the energy production has been dominated by fossil fuels. This has important consequences for the environment as well as for human health. Thus, the use of renewable energy has increased to minimize carbon dioxide emissions, leading to a high demand for the same energy. This is thus, fueling the growth of the North America market. North America is the largest market of synchronous condensers. Currently, synchronous condenser adoption has increased in the US and Canada through industries such as electrical utilities and grid operators, metals and mining, marine and oil and gas. Furthermore, growing investment in the adoption of renewable energy by government bodies and private companies in the process is fueling the growth of the region’s industry. In 2019, for example, US investments in renewable energy accounted for US$ 301.7 billion. Growing investment is therefore enabling companies to deliver advanced solutions around the local and regional sectors of power generation. Factors like changing the existing synchronous generators into synchronous condensers is expected to drive the North America synchronous condenser market.
Moreover, in case of COVID-19, North America is highly affected specially the US. North America has the highest adoption and growth levels of new technologies, with favorable government policies to boost innovation and improve infrastructure capabilities. Therefore, any effect on industries is expected to have a negative influence on the economic growth of the region. It is becoming apparent with the COVID-19 pandemic spreading across the US that few can escape its scope, presenting significant challenges to all industries. This had temporarily closed down all production plants across all industries and has also affected the supply chain and logistics industry of the country adversely. Though the demand for power was very high across the region especially arising from the healthcare sector to support all systems has influenced the rise in demand for renewable energy across the region. However, owing to nationwide lockdown across major economies like the US and Canada, the supply chain of major components of synchronous condenser was adversely affected, thereby impacted the manufacturing of the same. Thus, the above mentioned factors indicate that the outbreak of the pandemic has an adverse impact on the market across the region.
North America Synchronous Condenser Strategic Insights
Strategic insights for the North America Synchronous Condenser provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Market leaders and key company profiles
ABB Ltd.
Brush Group
Eaton Corporation plc
FUJI ELECTRIC CO., LTD.
General Electric Company
IDEAL ELECTRIC POWER CO.
Mitsubishi Electric Power Products, Inc. (Mitsubishi Electric Corporation)
Siemens AG (Siemens Energy)
Voith GmbH & Co. KGaA
WEG ELECTRIC CORP.
North America Synchronous Condenser Regional Insights
The geographic scope of the North America Synchronous Condenser refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Key Market Segments
In terms of cooling type, the hydrogen-cooled segment accounted for the largest share of the North America synchronous condenser market in 2019. In terms of reactive power rating, the above 200 MVAr segment held a larger market share of the North America synchronous condenser market in 2019. Similarly, in terms of starting method, the static frequency converter segment held a larger market share of the North America synchronous condenser market in 2019. Further, the electrical utilities and grid operators segment held a larger share of the North America 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 North America 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; IDEAL ELECTRIC POWER CO.; Mitsubishi Electric Power Products, Inc. (Mitsubishi Electric Corporation); Siemens AG (Siemens Energy); Voith GmbH & Co. KGaA; WEG ELECTRIC CORP.
Reasons to buy report
- To understand the North America 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 North America synchronous condenser market
- Efficiently plan M&A and partnership deals in North America 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 North America synchronous condenser market
- Obtain market revenue forecast for market by various segments from 2020-2027 in North America region.
Can you see this our reports
Europe Learning Management System Market – https://postyourarticle.com/europe-learning-management-system-market-trends-size-segment-and-growth-by-forecast-to-2030-4/
Europe Dental Market – https://github.com/businessmarketinsights985/business-market-insights/issues/18
North America Medical Laser Systems Market – https://findit.com/uwttwdjttmkjdpa/RightNow/northamerica-medical-laser-systemss/ea672c78-2f49-4851-986c-6f17f7e783af
Europe Railway Cyber Security Market – https://businessmarketins02.blogspot.com/2025/05/europe-railway-cyber-security-market.html
Europe Antibiotics Market – https://sites.google.com/view/businessmarketinsights126/home
About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Défense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications
Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
