Synchronous Condenser Market is projected to grow at a CAGR of 24.2% during the forecasting period 2021-2027

with increasing renewable power generation, long service life, and rising power factor demand HVDCURRENT and expansion in various regions is anticipated to increase demand for equipment such as synchronous condensers for power factor correction This segment is expected to dominate the market for new condensers. Growing market demand for condensers is an indication of the need for the expansion of the HVDC network. This market is expected to grow at the fastest during the forecast period. preferred because of their properties, like low density and high specific heat, which might result in increased demand for high-speed condensers in the forecast Synchronous devices are predicted to experience the greatest growth in the static frequency converter market. Static frequency converters have the low load and voltage-free installation cost. it has a low dynamic range, high reliability, and very low noise With that in mind, it can be assumed that its features will therefore be useful in the synchronous condenser. Synchronous condensers are expected to remain popular throughout the forecast period. Synchronous condensers improve grid stability, grid stability, and strength. The demand for grid stability and voltage control systems is projected to create a new market for synchronous condensers. North America is anticipated to be the most significant within the projection period. Synchronous condensers are anticipated to be in high demand in North America The demand for synchronous condensators is increasing in Canada, whereas in the United States, it is the older plants that are more often being converted to that type. This increase the demand for condensates in the local market as well..
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Synchronous Condenser Market report has been categorized as below

By Type
New Synchronous Condenser
Refurbished Synchronous Condenser
By Cooling Type
Hydrogen-Cooled
Air-Cooled
Water-Cooled
By Starting Method
Static Frequency Converter
Pony Motor
Others
By Reactive Power Rating (MVAr)
Up to 100 MVAr Synchronous Condenser
100–200 MVAr Synchronous Condenser
Above 200 MVAr Synchronous Condenser
By End-User
Electrical Utilities
Industries
By Region
North America
Europe
Asia Pacific
Rest of World
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