South America Synchronous Condenser Market
No. of Pages: 134 | Report Code: TIPRE00020073 | Category: Electronics and Semiconductor
No. of Pages: 134 | Report Code: TIPRE00020073 | Category: Electronics and Semiconductor
The region is characterized by a mixed growth scenario, with several countries having complex political and macroeconomic environments. Despite several challenges, the positive initiatives taken by governments are helping economies to grow at a reasonable pace and invest in renewable sectors during the forecast period. Several countries in this region presently lack the infrastructure and resources required to further develop energy power plants across the region. The development of the energy sector across the region is also strengthening the overall use of renewable energy or non-conventional energy forms across the countries. For instance, 79% of Brazil’s domestic electricity is produced from renewable energy. Similarly, Argentina is also focusing on increasing the investment on renewable energy sources, thereby influencing the demand for synchronous condenser across the region. Moreover, the SAM region is highly focused on strategic partnerships with solution vendors to ensure the availability of advanced solutions in the region. Thus, the above-mentioned factors are contributing to the growth of the synchronous condenser market across the region. Other factors such as turning the existing synchronous generators into synchronous condensers is also expected to drive the SAM synchronous condenser market.
Moreover, 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.
Strategic insights for the South America Synchronous Condenser provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 15.23 Million |
| Market Size by 2027 | US$ 16.93 Million |
| Global CAGR (2020 - 2027) | 2.2 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Cooling Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America Synchronous Condenser refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The SAM synchronous condenser market is expected to grow from US$ 15.23 million in 2019 to US$ 16.93 million by 2027; it is estimated to grow at a CAGR of 2.2 % from 2020 to 2027. Burgeoning demand for renewable power generation is also expected to drive the SAM synchronous condenser market. The potential for rising demand for renewable energy, combined with the electrification of transportation and increased involvement of oil and gas companies in the electricity value chain, is accelerating the convergence of the above-mentioned industries. Rising initiatives among states, cities, and utilities to pursue DE carbonization plans over the years are increasing the demand for renewable energy across the SAM. The energy production of most countries around the SAM has been dominated by fossil fuels since the industrial revolution. This significantly affects both the SAM climate and human health. In order to reduce carbon dioxide emission across the SAM, the consumption of renewable energy has increased, leading to the high demand for the same. Thus, rising investments in renewable power generation by major economies across the SAM are expected to influence the adoption of synchronous condensers.
In terms of cooling type, the hydrogen-cooled segment accounted for the largest share of the SAM synchronous condenser market in 2019. In terms of reactive power rating, the above 200 MVAr segment held a larger market share of the SAM synchronous condenser market in 2019. Similarly, in terms of starting method, the static frequency converter segment held a larger market share of the SAM synchronous condenser market in 2019. Further, the electrical utilities and grid operators segment held a larger share of the SAM synchronous condenser market based on application in 2019.
A few major primary and secondary sources referred to for preparing this report on the SAM synchronous condenser market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ABB Ltd., Brush Group, Eaton Corporation plc, General Electric Company, Siemens AG (Siemens Energy), Voith GmbH & Co. KGaA, WEG ELECTRIC CORP.
The South America Synchronous Condenser Market is valued at US$ 15.23 Million in 2019, it is projected to reach US$ 16.93 Million by 2027.
As per our report South America Synchronous Condenser Market, the market size is valued at US$ 15.23 Million in 2019, projecting it to reach US$ 16.93 Million by 2027. This translates to a CAGR of approximately 2.2 % during the forecast period.
The South America Synchronous Condenser Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Synchronous Condenser Market report:
The South America Synchronous Condenser Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Synchronous Condenser Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Synchronous Condenser Market value chain can benefit from the information contained in a comprehensive market report.
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