Tue. Dec 7th, 2021

Rising demand for power factor correction, government initiatives to replace fossil fuels, increasing renewable power generation, long service life, existing and planned upgrades and expansion of High-Voltage Direct Current (HVDC) network among others to drive the North America Synchronous Condenser Market through 2026

According to TechSci Research report, North America Synchronous Condenser Market By Cooling Type (Hydrogen-Cooled, Air-Cooled, Water-Cooled), By Starting Method (Static Frequency Converter, Pony Motor and Others) , By End-User (Electrical Utilities and Industries), By Reactive Power Rating (Up to 100 MVAR, 100 MVAR–200 MVAR and Above 200 MVAR), By Country, Competition, Forecast & Opportunities, 2026” the North America Synchronous Condenser Market is expected to reach 223.99 million by 2026 from 177.24 million in 2020 growing at a rate of 3.63% from 2021-2026. This growth is attributed to increasing demand for power factor correction, retiring conventional power plants, and growing network of High-Voltage Direct Current (HVDC). Moreover, some other factors responsible for the growth of this market include rising government initiatives to replace nuclear power generation capacity with renewables. This increase in renewable energy generation is accredited to benefits it offers such as declining dependence on fossil fuels, the diversification of energy supply and reduction in greenhouse gas emissions.

Browse 22 Market Data Figures spread through 80 Pages and an in-depth TOC on“North America Synchronous Condenser Market “

https://www.techsciresearch.com/report/north-america-synchronous-condenser-market/4614.html

North America Synchronous Condenser Market can be segmented based on cooling type, starting method, end-user, reactive power rating and country. By cooling type, the synchronous condenser market is segmented into hydrogen-cooled, air-cooled and water-cooled. Among them, hydrogen-cooled synchronous condensers dominated the market in terms of largest market share until 2020 and is anticipated to maintain its lead during the forecast years as well.

In terms of starting method, the market can be categorized into static frequency converter, pony motor, and others (damper windings and direct online synchronous condensers).  Static frequency converter method dominates the market with a share of 61.29% in 2020. This method is also expected to dominate during the forecast period because it is independent of supply voltage and load variations. Also, it has low installation cost, low volume, high reliability, and low noise characteristics.

Based on reactive power rating, the market is typically segmented into up to 100 MVAr, 100–200 MVAr, and above 200 MVAr. The increasing installations of large-sized above 200 MVAr synchronous condensers, especially in United States, are likely to foster the synchronous condenser market in North America.

Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=4614

Customers can also request for 10% free customization on this report.

Siemens AG, ABB Ltd, Sustainable Power Systems Inc, Eaton Corporation PLC, Power Systems and Control Inc, WEG SA, Fuji Electric Co. Ltd, General Electric Company, Electromechanical Engineering Associates Inc., Hyundai Ideal Electric Co. are among the leading players in the North America Synchronous Condenser Market. Companies operating in the market are using organic strategies such as product and technological advancement through addition of new features, mergers and collaborations to boost their share.

“United States is the largest market in the North America synchronous condenser market and is expected to continue its dominance during the forecast period due to the increasing demand in the utilities and applications in renewable energy. Furthermore, synchronous condenser market in United States is expected to witness growth due to the need to improve the power factor of the power transmission network, to stabilize the variability in power generation, to ensure grid reliability, efficiency, and security, and to maintain the power quality in the grid”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“North America Synchronous Condenser Market By Cooling Type (Hydrogen-Cooled, Air-Cooled, Water-Cooled), By Starting Method (Static Frequency Converter, Pony Motor and Others) , By End-User (Electrical Utilities and Industries), By Reactive Power Rating (Up to 100 MVAR, 100 MVAR–200 MVAR and Above 200 MVAR), By Country, Competition, Forecast & Opportunities, 2026”, has evaluated the future growth potential of North America Synchronous Condenser Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in North America Synchronous Condenser Market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: sales@techsciresearch.com

By Anshul

Your business needs valuable content to make it stand out from the crowd. Without valuable content, your business will be lost in the sea of products and services available online, especially now with so many companies offering similar services and products for low prices or even free! When you’re looking for creative content writing, you need to find someone who understands your industry and can provide you with high-quality content that truly helps your company stand out from the crowd. That’s where I come in!