Hydrogen-cooled Segment to Dominate SAM Synchronous Condenser Market during 2019–2027

According to a new market research study on “SAM Synchronous Condenser Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Cooling Type, Reactive Power Rating, Starting Method, and Application,” is expected to reach US$ 16.93 million by 2027 from US$ 15.23 million in 2019. The market is estimated to grow at a CAGR of 2.2% % from 2020 to 2027. The report provides trends prevailing in the SAM synchronous condenser market along with the drivers and restraints pertaining to the market growth. Mounting need for power factor correction (PFC) and surging high-voltage direct current (HVDC) network are the major factor driving the growth of the SAM synchronous condenser market. However, costly equipment and maintenance hinder the growth of SAM synchronous condenser market.

In case of COVID-19, Brazil has the largest number of cases in SAM, followed by Ecuador, Chile, Peru, and Argentina amongst others. The pandemic has led to the closure of all economic activities across the region, in order to combat the spread of the virus. With the closure of transportation both within and outside the countries across the region, the supply chain of synchronous condenser market has been highly impacted. Moreover, the temporary shutdown of manufacturing plants has also affected the production process of the same during the pandemic which has affected the SAM synchronous condenser market badly. Additionally, the reduction in demand of power from the commercial sector of the country is also expected to impact the market. Thus, based on the above-mentioned factors the synchronous condenser market is expected to be negatively affected over the years in the region.

The SAM synchronous condenser market is segmented based on cooling type, reactive power rating, starting method, application, and country. Based on cooling type, the SAM synchronous condenser market is segmented as hydrogen-cooled, air-cooled, and water-cooled. The hydrogen-cooled segment dominated the market in 2019 and is expected to be fastest growing during forecast period. Based on reactive power rating, the market is segmented as up to 100 MVAr, 100-200 MVAr, and above 200 MVAr. The above 200 MVAr segment dominated the market in 2019 and is expected to be fastest growing during forecast period. Based on starting method, the market is segmented into static frequency converter, pony motor, and others. The static frequency converter segment dominated the market in 2019 and is expected to be fastest growing during forecast period. Based on application, the market is segmented as electrical utilities and grid operators, metal and mining, marine, oil and gas and others. The electrical utilities and grid operators segment dominated the market in 2019 and is expected to be fastest growing during forecast period                 

ABB Ltd., Brush Group, Eaton Corporation plc, General Electric Company, Siemens AG (Siemens Energy), Voith GmbH & Co. KGaA, WEG ELECTRIC CORP. are among the leading companies in the SAM synchronous condenser market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2017, Voith Hydro Canada had collaborated with Stuart Olson Industrial Constructors Inc. for building four stations at the Riel Converter Station. The installation process had been begun at Riel Converter Station. Additionally, four Synchronous Condenser units are installed at the station. The station is part of Manitoba Hydro’s Bipole III Transmission Line Project. 

The report segments the SAM Synchronous Condenser Market as follows:

SAM Synchronous Condenser Market – By Cooling Type

• Air-cooled              
• Hydrogen-cooled              
• Water-cooled

SAM Synchronous Condenser Market – By Reactive Power Rating

• Up to 100 MVAr
• 100-200 MVAr
• Above 200 MVAr

SAM Synchronous Condenser Market – By Starting Method

• Pony Motor
• Static Frequency Converter
• Others

SAM Synchronous Condenser Market – By Application

• Metal and Mining
• Electrical Utilities and Grid Operators
• Marine                              
• Oil and Gas        
• Others                        

SAM Synchronous Condenser Market – By Country

• Brazil
• Argentina    
• Rest of SAM