Synchronous Condenser Market

Synchronous Condenser Market Size, Share, Competitive Landscape and Trend Analysis Report by Cooling Type, Starting Method, Power Rating and Application: Global Opportunity and Industry Forecast (2025-2030)

Report ID:

1123

Industry:

Energy & Power

Published on:

Jan 2026

1. Synchronous Condenser Market: Overview

1.1. Study Assumption and Market Definition

1.2. Scope of the Study

1.3. Executive Summary

1.3.1. Market Size and Market Share by Segments, Region and Country

2. Synchronous Condenser Market: Market Variables and Key Insights

2.1. Synchronous Condenser Market Dynamics

2.1.1. Market Trends Analysis

2.1.2. Market Drivers Analysis

2.1.3. Market Challenges Analysis

2.1.4. Market Opportunities Analysis

2.2. Synchronous Condenser Market Business Tools Analysis

2.2.1. PORTER’s Five Forces Analysis

2.2.2. PESTLE Analysis

2.3. Starting Method Roadmap

2.4. Value Chain Analysis

2.5. Regulatory Landscape by Region

1. North America

2. Europe

3. Asia Pacific

4. Middle East and Africa

5. South America

2.6. Analysis of Government Schemes and Initiatives on the Global Synchronous Condenser Industry

3. Synchronous Condenser Market: Global Market Size, Trend Analysis and Forecast (2024-2030) in Value (USD Billion)

3.1. Global Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

3.1.1. Air-cooled

3.1.2. Water-cooled

3.1.3. Hydrogen-cooled

3.2. Global Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

3.2.1. Static Frequency Converter

3.2.2. Pony Motors

3.2.3. Others

3.3. Global Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

3.3.1. Up to 200 MVAR

3.3.2. Above 200 MVAR

3.4. Global Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

3.4.1. Utility

3.4.2. Industrial

3.5. Global Synchronous Condenser Market Size and Forecast, By Country (2024-2030)

3.5.1. North America

3.5.2. Europe

3.5.3. Asia Pacific

3.5.4. Middle East & Africa

3.5.5. South America

4. Synchronous Condenser Market: North America Market Size, Trend Analysis and Forecast (2024-2030) in Value (USD Billion)

4.1. North America Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

4.1.1. Air-cooled

4.1.2. Water-cooled

4.1.3. Hydrogen-cooled

4.2. North America Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

4.2.1. Static Frequency Converter

4.2.2. Pony Motors

4.2.3. Others

4.3. North America Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

4.3.1. Up to 200 MVAR

4.3.2. Above 200 MVAR

4.4. North America Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

4.4.1. Utility

4.4.2. Industrial

4.5. North America Synchronous Condenser Market Size and Forecast, by Country (2024-2030)

4.5.1. United States

4.5.2. Mexico

4.5.3. Canada

4.5.1.1 United States Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

4.5.1.2 United States Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

4.5.1.3 United States Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

4.5.1.4 United States Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

4.5.2.1 Mexico Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

4.5.2.2 Mexico Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

4.5.2.3 Mexico Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

4.5.2.4 Mexico Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

4.5.3.1 Canada Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

4.5.3.2 Canada Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

4.5.3.3 Canada Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

4.5.3.4 Canada Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

5. Synchronous Condenser Market: Europe Market Size, Trend Analysis and Forecast (2024-2030) in Value (USD Billion)

5.1. Europe Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

5.1.1. Air-cooled

5.1.2. Water-cooled

5.1.3. Hydrogen-cooled

5.2. Europe Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

5.2.1. Static Frequency Converter

5.2.2. Pony Motors

5.2.3. Others

5.3. Europe Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

5.3.1. Up to 200 MVAR

5.3.2. Above 200 MVAR

5.4. Europe Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

5.4.1. Utility

5.4.2. Industrial

5.5. Europe Synchronous Condenser Market Size and Forecast, By Country (2024-2030)

5.5.1. United Kingdom

5.5.2. France

5.5.3. Germany

5.5.4. Italy

5.5.5. Spain

5.5.6. Sweden

5.5.7. Russia

5.5.8. Rest of Europe

5.5.1.1 United Kingdom Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

5.5.1.2 United Kingdom Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

5.5.1.3 United Kingdom Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

5.5.1.4 United Kingdom Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

5.5.2.1 France Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

5.5.2.2 France Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

5.5.2.3 France Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

5.5.2.4 France Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

5.5.3.1 Germany Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

5.5.3.2 Germany Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

5.5.3.3 Germany Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

5.5.3.4 Germany Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

5.5.4.1 Italy Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

5.5.4.2 Italy Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

5.5.4.3 Italy Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

5.5.4.4 Italy Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

5.5.5.1 Spain Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

5.5.5.2 Spain Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

5.5.5.3 Spain Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

5.5.5.4 Spain Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

5.5.6.1 Sweden Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

5.5.6.2 Sweden Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

5.5.6.3 Sweden Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

5.5.6.4 Sweden Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

5.5.7.1 Russia Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

5.5.7.2 Russia Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

5.5.7.3 Russia Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

5.5.7.4 Russia Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

5.5.8.1 Rest of Europe Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

5.5.8.2 Rest of Europe Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

5.5.8.3 Rest of Europe Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

5.5.8.4 Rest of Europe Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

6. Synchronous Condenser Market: Asia Pacific Market Size, Trend Analysis and Forecast (2024-2030) in Value (USD Billion)

6.1. Asia Pacific Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

6.1.1. Air-cooled

6.1.2. Water-cooled

6.1.3. Hydrogen-cooled

6.2. Asia Pacific Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

6.2.1. Static Frequency Converter

6.2.2. Pony Motors

6.2.3. Others

6.3. Asia Pacific Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

6.3.1. Up to 200 MVAR

6.3.2. Above 200 MVAR

6.4. Asia Pacific Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

6.4.1. Utility

6.4.2. Industrial

6.5. Asia Pacific Synchronous Condenser Market Size and Forecast, By Country (2024-2030)

6.5.1. China

6.5.2. South Korea

6.5.3. Japan

6.5.4. India

6.5.5. Australia

6.5.6. ASEAN

6.5.7. Rest of Asia Pacific

6.5.1.1 China Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

6.5.1.2 China Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

6.5.1.3 China Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

6.5.1.4 China Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

6.5.2.1 South Korea Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

6.5.2.2 South Korea Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

6.5.2.3 South Korea Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

6.5.2.4 South Korea Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

6.5.3.1 Japan Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

6.5.3.2 Japan Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

6.5.3.3 Japan Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

6.5.3.4 Japan Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

6.5.4.1 India Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

6.5.4.2 India Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

6.5.4.3 India Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

6.5.4.4 India Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

6.5.5.1 Australia Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

6.5.5.2 Australia Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

6.5.5.3 Australia Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

6.5.5.4 Australia Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

6.5.6.1 ASEAN Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

6.5.6.2 ASEAN Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

6.5.6.3 ASEAN Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

6.5.6.4 ASEAN Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

6.5.7.1 Rest of Asia Pacific Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

6.5.7.2 Rest of Asia Pacific Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

6.5.7.3 Rest of Asia Pacific Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

6.5.7.4 Rest of Asia Pacific Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

7. Synchronous Condenser Market: Middle East & Africa Market Size, Trend Analysis and Forecast (2024-2030) in Value (USD Billion)

7.1. Middle East & Africa Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

7.1.1. Air-cooled

7.1.2. Water-cooled

7.1.3. Hydrogen-cooled

7.2. Middle East & Africa Synchronous Condenser Market Size and Forecast, By Starting Method

(2024-2030)

7.2.1. Static Frequency Converter

7.2.2. Pony Motors

7.2.3. Others

7.3. Middle East & Africa Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

7.3.1. Up to 200 MVAR

7.3.2. Above 200 MVAR

7.4. Middle East & Africa Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

7.4.1. Utility

7.4.2. Industrial

7.5. Middle East & Africa Synchronous Condenser Market Size and Forecast, by Country (2024-2030)

7.5.1. South Africa

7.5.2. GCC

7.5.3. Turkey

7.5.4. Rest of ME&A

7.5.1.1 South Africa Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

7.5.1.2 South Africa Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

7.5.1.3 South Africa Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

7.5.1.4 South Africa Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

7.5.2.1 GCC Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

7.5.2.2 GCC Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

7.5.2.3 GCC Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

7.5.2.4 GCC Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

7.5.3.1 Turkey Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

7.5.3.2 Turkey Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

7.5.3.3 Turkey Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

7.5.3.4 Turkey Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

7.5.4.1 Rest of ME&A Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

7.5.4.2 Rest of ME&A Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

7.5.4.3 Rest of ME&A Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

7.5.4.4 Rest of ME&A Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

8. Synchronous Condenser Market: South America Market Size, Trend Analysis and Forecast (2024-2030) in Value (USD Billion)

8.1. South America Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

8.1.1. Air-cooled

8.1.2. Water-cooled

8.1.3. Hydrogen-cooled

8.2. South America Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

8.2.1. Static Frequency Converter

8.2.2. Pony Motors

8.2.3. Others

8.3. South America Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

8.3.1. Up to 200 MVAR

8.3.2. Above 200 MVAR

8.4. South America Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

8.4.1. Utility

8.4.2. Industrial

8.5. South America Synchronous Condenser Market Size and Forecast, by Country (2024-2030)

8.5.1. Brazil

8.5.2. Argentina

8.5.3. Rest of South America

8.5.1.1 Brazil Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

8.5.1.2 Brazil Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

8.5.1.3 Brazil Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

8.5.1.4 Brazil Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

8.5.2.1 Argentina Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

8.5.2.2 Argentina Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

8.5.2.3 Argentina Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

8.5.2.5 Argentina Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

8.5.3.1 Rest of South America Synchronous Condenser Market Size and Forecast, By Cooling Type (2024-2030)

8.5.3.2 Rest of South America Synchronous Condenser Market Size and Forecast, By Starting Method (2024-2030)

8.5.3.3 Rest of South America Synchronous Condenser Market Size and Forecast, By Power Rating (2024-2030)

8.5.3.4 Rest of South America Synchronous Condenser Market Size and Forecast, By Application (2024-2030)

9. Synchronous Condenser Market: Competitive Landscape

9.1. JBI Competition Matrix

9.2. Competitive Landscape

9.3. Key Players Benchmarking

1. Company Name

2. Product Segment

3. End-User Segment

4. Revenue Details

5. Market Share

6. Company Locations

9.4. Market Categorisation

1. Market Leaders

2. Market Followers

3. Market Emerging Players

4. Mergers and Acquisitions Details

9.5. Company Profiles of Leading Market Players ((Company Overview, Product Portfolio, Financial Overview, SWOT Analysis, Strategies, Recent Developments, (Based on Availability)

1. Company Name

2. Product Segment

3. End-User Segment

4. Revenue Details

5. Market Share

6. Company Locations

9.5.1. Siemens Energy AG

9.5.2. General Electric (GE Vernova)

9.5.3. ABB Ltd.

9.5.4. Mitsubishi Electric Corporation

9.5.5. Eaton Corporation

9.5.6. Voith GmbH & Co. KGaA

9.5.7. Ansaldo Energia S.p.A.

9.5.8. WEG S.A.

9.5.9. Toshiba Energy Systems & Solutions Corporation

9.5.10. Hitachi Energy Ltd.

9.5.11. Bharat Heavy Electricals Limited (BHEL)

9.5.12. BRUSH Group

9.5.13. Shanghai Electric Group Co., Ltd.

9.5.14. Dongfang Electric Corporation

9.5.15. Harbin Electric Corporation

9.5.16. Doosan Škoda Power

9.5.17. Ideal Electric Power Co.

9.5.18. Power Systems & Controls, Inc.

9.5.19. Electromechanical Engineering Associates (EMEA)

9.5.20. Anhui Zhongdian Electric Co., Ltd.

10. Synchronous Condenser Market: Strategic Recommendations

11. Synchronous Condenser Market: Key Takeaways

12. Synchronous Condenser Market: Research Methodology

Note:

• The table of contents is as per our syndicate report aimed at a broader audience, can be modified as per requirements.

TOC can be amended before delivery as per research updates by the analysts.

Synchronous Condenser Market Summary

Global Synchronous Condenser Market was a value of USD 1.28 Bn in 2024 and expected it to hit USD 1.56 Bn by 2030, with a CAGR of 3.4% during (2025-2030).

Energy Management Systems Industry Trends and Analytical Insights -

North America Synchronous Condenser Market was the largest revenue generating region market in year 2024, with market share accounted for 36.3%.
In 2024, By Cooling Type, Hydrogen-cooled dominated the Synchronous Condenser Market, accounted for 38.2% market shares.
Leading Key players for Synchronous Condenser Market in 2024 was Siemens Energy AG, General Electric (GE Vernova), ABB Ltd., Mitsubishi Electric Corporation and Eaton Corporation.

Market Size & Forecast

Market Size 2024: USD 1.28 Billion
Projected Market Size 2030: USD 1.56 Billion
CAGR (2024-2030): 3.4%
North America: Dominated market in 2024

Synchronous Condenser Market Overview

Global Synchronous Condenser Industry showed significant growth at the beginning of 2024 as grid modernization efforts accelerate and as the amount of renewable energy generated by inverters grows. Utilities were the primary customers and were responsible for more than 70% of total installations. Transmission operators were increasing their focus on inertia, short circuit capacity and voltage regulation. As far as technology was concerned, systems over 200 MVAR accounted for approximately 55% to 60% of total installed capacity, demonstrated that there was a growing need for high-capacity solutions within renewable-dense or otherwise weak grids in Synchronous Condenser Market. Combined, hydrogen-cooled and water-cooled systems represented approximately 50% of total installations, indicated a strong preference for large, efficient units within transmission networks.

In terms of region, North America Synchronous Condenser Market had the largest market share in 2024. North America’s position was driven by the large-scale integration of renewable energy, decommissioning of traditional thermal generation plants and significant investment in grid strengthening throughout both the U.S. and Canada. Europe Synchronous Condenser Market had the second largest market due to strict grid codes, offshore wind integration, and synchronous condenser deployment in countries like the UK, Germany, and the Nordics. Both North America and Europe had over 65% of their new starts utilizing static frequency converters (SFCs), indicating a Synchronous Condenser Industry trend towards using newer, more flexible starting technologies.

Approximately 70 to 75% of the entire marketplace demand in 2024 was attributed to utility applications due to Capital Construction commitments associated with grid stability, fault level enhancement and renewable energy integration, represented the largest market segment. Systems rated greater than 200 MVAR accounted for nearly 60% of total installed capacity, demonstrated the move toward fewer, larger installations that provide support for weak or remote grids. Industrial applications have a smaller volume of total identified customers; however, there has been an increasing amount of penetration in industrial applications, especially in mining, steel, oil and gas and large manufacturing where the installation of synchronous condensers to power quality, reduce voltage flicker and promote operational reliability.

This extensive analysis by Jadhavar Business Intelligence Pvt Ltd provides consumers with a complete and actionable picture of the Global Synchronous Condenser Market, including market size, share, trends, and growth estimates from 2024 to 2030. It provides a complete overview of important locations and countries by Cooling Type, Starting Method, Power Rating and Application. Clients receive comprehensive market dynamics, business tool analysis (PORTER and PESTLE), a Technology roadmap, and regulatory updates. The study also includes country-specific projections, competitive benchmarking, Company profiles, and M&A activity, all of which aid in strategic planning, market entry analysis, and competitor positioning in Synchronous Condenser Industry.

Synchronous Condenser Market Dynamic’s

Major Factors Driving the Synchronous Condenser Industry in 2024 was the rapid decline in conventional thermal generation was the most important factor affected the growth of the synchronaous condenser market in 2024. In developed economies, more than 45% of coal- and gas-fired units connected to the power grid were over 30 years old. Therefore, thermal units experience reduced system inertia as a result of increasing age. On the other hand, inverter-based renewable energy resources (such as solar and wind) accounted for over 35% of new capacity added to the power system. Consequently, this increase in inverter-based renewable energy resources has created additional voltage recovery and short circuit fault current challenges within the power systems. As a result of these challenges, utilities had responded by increasing their capital investments in synchronous condensers, which represent nearly 60% of utility capital expenditures on grid support assets.

Synchronous condensers experienced significant challenges in 2024 due to their high capital intensity and lengthy project timelines. Large-capacity synchronous condenser systems typically cost USD 25–35 million to install, which significantly impacted the adoption of such systems within cost-sensitive grid systems. The long engineering, procuring, and commissioning processes (18–24 months) hindered the ability to deploy synchronous condenser systems quickly. The synchronous condenser market was to suffer as the market share was captured by competitors offering advanced power electronics for new reactive power compensation projects, more than 40% as reported. Other challenges were presented to asset owners due to the ongoing maintenance requirements and a shortage of skilled workers.

The synchronous condenser market had many significant opportunities in 2024, thanks to the investments made into strengthening the grids where renewable energy was developed. Currently, over 60% of all planned global transmission projects was used for renewable energy integration and continue to develop a demand and fault level support products. Aging generator retirements also allow for opportunities in converting existing assets which accounted for close to 30% of all announced projects since converted existing assets has lower redevelopment costs. The introduction of hybrid grid stabilising products using synchronous condensers and STATCOMs together has become increasingly popular with more than 20% of new RFQs requesting hybrid designs to allow for greater operating flexibility and increased resiliency of the overall system.

Expert Insight:

The Synchronous Condenser Industry in 2024 reflects a structurally resilient and utility-driven industry, positioned as a critical enabler of grid reliability amid accelerating renewable penetration. While power-electronic alternatives continue to gain traction, synchronous condensers retain a distinct strategic advantage in providing real inertia, fault current, and long-duration voltage support, particularly for transmission networks. Over the forecast period, market momentum is expected to remain steady rather than aggressive, shaped by selective high-capacity deployments, hybrid configurations, and asset conversion opportunities. Success for market participants will increasingly depend on technology differentiation, lifecycle cost optimization, and strong utility partnerships rather than volume-driven expansion.

Synchronous Condenser Market Segment Analysis

The Synchronous Condenser Market is segmented into Cooling Type, Starting Method, Power Rating and Application.

By Cooling Type

Based on Cooling Type segment the Synchronous Condenser Industry is segmented into Air-cooled, Water-cooled and Hydrogen-cooled. Hydrogen-cooled has the largest market share of Synchronous Condenser Market, accounted for 38.2% in 2024. This dominance was driven by the extreme thermal efficiencies, higher Power Density, and capabilities for utility-scale applications of +200 MVAR. Hydrogen Cooling has the potential to provide reduced Electrical Losses, leading to a smaller Machine Design, making it a great option for Transmission Networks and Renewable Heavy Grids that require long-term dependability at high performance levels. Water Cooling Systems followed closely behind hydrogen and Air-Cooling Units are limited in the area of size and x-industry use.

By Power Rating

Based on Power Rating Segment, the Synchronous Condenser Market is segmented into Up to 200 MVAR, Above and 200 MVAR. Within the Power Rating segment, Above 200 MVAR appears the dominated sub segment have market share, accounted for 60% in 2024 for Synchronous Condenser Market. This dominance driven by Utilities continued to support the deployment of high-capacity units at voltages over 345 kV for the purpose of supporting large amounts of renewable energy and for providing wide area, voltage control, increased inertia, fault level support, etc. Because of this, utilities had increased their reliance on large wattage units in order to aid in stabilising very weak grids and to facilitate integration of large amounts of wind and solar. This has resulted in the installation of fewer but much larger units in major markets.

Synchronous Condenser Market Region Analysis

North America‍‌‍‍‌‍‌‍‍‌ Synchronous Condenser Market was the dominant market in 2024 with a market share accounted for 36.3%. This dominance was driven by Rapid retirements of conventional thermal power plants, large amounts of renewable energy integration, and proactive grids reinstatements were supported the leadership of this region through the U.S. Synchronous Condenser Market and Canada Synchronous Condenser Market. The deployment of large-volume synchronous condensers by transmission system operators had increasing in response to declining system inertia and short circuit strength, especially in renewable-rich states such as California, Texas, and the Midwest. Regulatory structures that promote support and utility investments in grid stability resources have reinforced North America's position as a global leader.

Europe Synchronous Condenser Market held Market share of approximately 32%, with major contributors including strict grid codes, integration of offshore wind into the grid, and the modernization of transmission networks throughout the UK Synchronous Condenser Market, Germany Synchronous Condenser Market, and the Nordic region. The Asia-Pacific Synchronous Condenser Market accounted for an estimated 25% of total global sales, spurred by rapid development of transmission infrastructure and renewable energy evacuation projects across China Synchronous Condenser Market, India Synchronous Condenser Market, and Australia Synchronous Condenser Market. In addition to the above mentioned regions, Latin America and the Middle East & Africa Synchronous Condenser Market had combined sales approximated 8%–10%, due to increased investments in grid stability in countries such as Brazil, Chile, Saudi Arabia, and South Africa. These two markets had also a significant uptick in demand for grid resiliency and stabilization, although their growth was occurred from a lower initial level than that of North America, Europe, or Asia-Pacific.

Synchronous Condenser Market Competitive Analysis

Siemens Energy AG, GE Vernova, ABB Ltd., Hitachi Energy and Mitsubishi Electric held domination in the 2024 Synchronous Condenser Industry due to their dominant global presence, advanced hydrogen-cooled technology, and turnkey solutions for grid stabilization. They also benefited from established utility relationships, comprehensive service capabilities, and substantial experience on projects classified as large capacity (greater than 200 MVAR), which enabled these companies to successfully complete most of the complete high-value installations for transmission level.

Certain other manufacturers, including Voith, Ansaldo Energia, Toshiba, WEG, BHEL, and Shanghai Electric, held an economically viable position in the market by leveraging local strengths, offering products at a cost-effective price, and providing retrofit products. However, Ideal Electric, Power Systems & Controls, EMEA, and Anhui Zhongdian concentrated on specific needs, therefore creating a competitive but fragmented Synchronous Condenser Industry, although definitely moderate in fragmentation.

Synchronous Condenser Market Scope:

Synchronous Condenser Market Key Players –

Siemens Energy AG
General Electric (GE Vernova)
ABB Ltd.
Mitsubishi Electric Corporation
Eaton Corporation
Voith GmbH & Co. KGaA
Ansaldo Energia S.p.A.
WEG S.A.
Toshiba Energy Systems & Solutions Corporation
Hitachi Energy Ltd.
Bharat Heavy Electricals Limited (BHEL)
BRUSH Group
Shanghai Electric Group Co., Ltd.
Dongfang Electric Corporation
Harbin Electric Corporation
Doosan Škoda Power
Ideal Electric Power Co.
Power Systems & Controls, Inc.
Electromechanical Engineering Associates (EMEA)
Anhui Zhongdian Electric Co., Ltd.

Frequently Ask Questions –

1) Who are the major Key players of Synchronous Condenser Market?

Ans - The Major Key players of Synchronous Condenser Market are Siemens Energy AG, General Electric (GE Vernova), ABB Ltd., Mitsubishi Electric Corporation and Eaton Corporation.

2) Which Region accounted highest share of the Synchronous Condenser Market in 2024?

Ans – North America region accounted highest share of the Synchronous Condenser Market.

3) What was the market size of Synchronous Condenser Market in 2024?

Ans – In 2024, market size of the Synchronous Condenser Market is USD 1.28 Billion.

4) Which Segment is expected to lead the market during forecast period?

Ans – Cooling Type Segment was the top segment holds the largest share in Synchronous Condenser Market during forecast period.

5) What will be the market size of Synchronous Condenser Market in 2030?

Ans- The market size of Synchronous Condenser Market in 2030 will be USD 1.56 Billion.

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