1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 DEFINITION 14
1.3 MARKET SCOPE 15
1.3.1 MARKET SEGMENTATION 15
1.4 YEARS CONSIDERED FOR THE STUDY 15
1.5 CURRENCY 16
1.6 LIMITATIONS 16
1.7 STAKEHOLDERS 16

2 RESEARCH METHODOLOGY 17
2.1 MARKET SIZE ESTIMATION 17
2.1.1 DEMAND-SIDE ANALYSIS 17
2.1.1.1 Assumptions 18
2.1.2 SUPPLY-SIDE ANALYSIS 18
2.1.2.1 Assumptions 18
2.1.2.2 Calculation 18
2.1.3 FORECAST 19
2.2 SOME OF THE INSIGHTS OF INDUSTRY EXPERTS 19

3 EXECUTIVE SUMMARY 20

4 PREMIUM INSIGHTS 25
4.1 ATTRACTIVE OPPORTUNITIES IN THE SYNCHRONOUS CONDENSER MARKET 25
4.2 SYNCHRONOUS CONDENSER MARKET, BY REGION 26
4.3 SYNCHRONOUS CONDENSER MARKET, BY COOLING TYPE 26
4.4 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 27
4.5 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING (MVAR) 27
4.6 SYNCHRONOUS CONDENSER MARKET, BY END-USER 28
4.7 SYNCHRONOUS CONDENSER MARKET, BY TYPE 28

5 MARKET OVERVIEW 29
5.1 INTRODUCTION 29
5.2 MARKET DYNAMICS 29
5.2.1 DRIVERS 30
5.2.1.1 Increasing demand for renewable power generation 30
5.2.1.2 Growing need for Power Factor Correction (PFC) 30
5.2.2 RESTRAINTS 31
5.2.2.1 High maintenance and equipment cost 31
5.2.3 OPPORTUNITIES 31
5.2.3.1 Converting the existing synchronous generators into synchronous condensers 31
5.2.3.2 Expanding High-Voltage Direct Current (HVDC) network 31
5.2.4 CHALLENGES 32
5.2.4.1 Availability of low-cost alternatives 32

6 SYNCHRONOUS CONDENSER MARKET, BY TYPE 33
6.1 INTRODUCTION 34
6.2 NEW SYNCHRONOUS CONDENSER 35
6.2.1 EXPANSION OF HVDC NETWORK IS LIKELY TO GENERATE DEMAND FOR
THE NEW SYNCHRONOUS CONDENSER SEGMENT 35
6.3 REFURBISHED SYNCHRONOUS CONDENSER 35
6.3.1 GROWING USAGE OF RENEWABLE POWER GENERATION IS LIKELY TO FOSTER THE REFURBISHED SYNCHRONOUS CONDENSER MARKET 35

7 SYNCHRONOUS CONDENSER MARKET, BY COOLING TYPE 37
7.1 INTRODUCTION 38
7.2 HYDROGEN-COOLED 39
7.2.1 HIGH THERMAL CONDUCTIVITY OF HYDROGEN-COOLED SYNCHRONOUS CONDENSERS IS EXPECTED TO FOSTER THEIR DEMAND 39
7.3 AIR-COOLED 39
7.3.1 IMPROVED COOLING FEATURE OF AIR-COOLED SYNCHRONOUS CONDENSERS USING AIR CIRCULATION IS LIKELY TO FUEL THE SYNCHRONOUS CONDENSER MARKET 39
7.4 WATER-COOLED 40
7.4.1 COST EFFICIENCY OF WATER-COOLED SYNCHRONOUS CONDENSERS OVER THEIR HYDROGEN-COOLED COUNTERPART IS LIKELY TO FOSTER THEIR DEMAND IN THE MARKET 40

8 SYNCHRONOUS MARKET, BY STARTING METHOD 42
8.1 INTRODUCTION 43
8.2 STATIC FREQUENCY CONVERTER 44
8.2.1 LOW INSTALLATION COST AND LOW NOISE FEATURES ARE EXPECTED TO BOOST THE DEMAND FOR STATIC FREQUENCY CONVERTERS 44
8.3 PONY MOTOR 45
8.3.1 LOW COST OF PONY MOTORS IS LIKELY TO FOSTER THEIR DEMAND IN THE SYNCHRONOUS CONDENSER MARKET 45
8.4 OTHERS 46

9 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING (MVAR) 47
9.1 INTRODUCTION 48
9.2 UP TO 100 MVAR SYNCHRONOUS CONDENSER 49
9.2.1 GROWING USAGE OF AIR- & WATER-COOLED SYNCHRONOUS CONDENSERS IS EXPECTED TO FOSTER THE DEMAND OF UP TO 100 MVAR SYNCHRONOUS CONDENSERS 49
9.3 100–200 MVAR SYNCHRONOUS CONDENSER 50
9.3.1 USAGE OF 100–200 MVAR SYNCHRONOUS CONDENSERS FOR TRANSMISSION SYSTEM STABILITY IS LIKELY TO FOSTER THEIR DEMAND 50
9.4 ABOVE 200 MVAR SYNCHRONOUS CONDENSER 50
9.4.1 GROWING USAGE OF HYDROGEN-COOLED SYNCHRONOUS CONDENSERS IS EXPECTED TO BOOST ITS DEMAND 50

10 SYNCHRONOUS CONDENSER MARKET, BY END-USER 52
10.1 INTRODUCTION 53
10.2 ELECTRICAL UTILITIES 54
10.2.1 DEMAND FOR GRID STABILITY AND CONTROLLING VOLTAGE FLUCTUATIONS IS EXPECTED TO DRIVE THE MARKET 54
10.3 INDUSTRIES 55
10.3.1 REQUIREMENT FOR INDUSTRIAL LOADS’ POWER FACTOR CORRECTION IS LIKELY TO DRIVE THE MARKET 55

11 SYNCHRONOUS CONDENSER MARKET, BY REGION 56
11.1 INTRODUCTION 57
11.2 NORTH AMERICA 59
11.2.1 US 63
11.2.1.1 Mercury and Air Toxics Standards’ (MATS) compliance and growing demand for renewables in the country are expected to increase the demand for the US synchronous condenser market 63
11.2.2 CANADA 64
11.2.2.1 Increasing investments in the renewable power generation are likely to drive the demand for the Canadian synchronous condenser market 64
11.3 EUROPE 65
11.3.1 ITALY 69
11.3.1.1 Integrating renewable sources in the grid systems is expected to increase the demand for the Italian synchronous condenser market 69
11.3.2 GERMANY 70
11.3.2.1 Government initiatives to replace fossil fuels and nuclear power generation with renewables is likely to boost the demand 70
11.3.3 NORWAY 71
11.3.3.1 Increasing investments in HVDC network are likely to drive the demand 71
11.3.4 REST OF EUROPE 72
11.4 SOUTH AMERICA 73
11.4.1 BRAZIL 76
11.4.1.1 Increasing demand for power factor correction equipment is likely to drive the Brazilian synchronous condenser market 76
11.4.2 REST OF SOUTH AMERICA 77
11.5 REST OF THE WORLD (ROW) 78
11.5.1 AUSTRALIA 80
11.5.2 OTHERS 81

12 COMPETITIVE LANDSCAPE 83
12.1 OVERVIEW 83
12.2 COMPETITIVE LEADERSHIP MAPPING, 2018 84
12.2.1 VISIONARY LEADERS 84
12.2.2 INNOVATORS 84
12.2.3 DYNAMIC 84
12.2.4 EMERGING 84
12.3 MARKET SHARE ANALYSIS, 2018 86
12.4 COMPETITIVE SCENARIO 86
12.4.1 CONTRACTS & AGREEMENTS 87
12.4.2 MERGERS & ACQUISITIONS 87
12.4.3 COLLABORATIONS 88

13 COMPANY PROFILES 89
(Business overview, Products offered, Recent Developments, MNM view)*
13.1 ABB 89
13.2 SIEMENS 93
13.3 WEG 95
13.4 VOITH GROUP 98
13.5 FUJI ELECTRIC 101
13.6 GE 103
13.7 EATON 106
13.8 IDEAL ELECTRIC (HYUNDAI IDEAL ELECTRIC CO.) 108
13.9 SUSTAINABLE POWER SYSTEMS 109
13.10 ELECTROMECHANICAL ENGINEERING ASSOCIATES 110
13.11 POWER SYSTEMS & CONTROLS 111
13.12 ANSALDO ENERGIA 112
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.

14 APPENDIX 113
14.1 INSIGHTS OF INDUSTRY EXPERTS 113
14.2 DISCUSSION GUIDE 114
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 118
14.4 AVAILABLE CUSTOMIZATIONS 120
14.5 RELATED REPORTS 120
14.6 AUTHOR DETAILS 121