Key
Players
The key players of Synchronous Condensers Market are
ABB Ltd. (Switzerland), Eaton Co. Plc. (Ireland), Electro-Mechanical Engineering Associates (USA), Fuji Electric Co.,
Ltd. (Japan), General Electric (USA), Hyundai Ideal Electric Co. (USA), Power
Systems and Control (USA), Siemens AG (Germany), Sustainable Power Systems LLC.
(USA), Toshiba Corporation (Japan), Voith GmbH (Germany) and WEG Industries
(Brazil).
Synchronous
condenser – Insights
A synchronous condenser is also known as synchronous
compensator or synchronous capacitor. It is powered by direct current. It acts
an excited synchronous motor as its shaft isn’t restrained by anything allowing
it to spin freely. It serves the purpose of adjusting conditions of the
electric power transmission grid. Lately, the demand for these machines has
soared. This has brought about positive results for the Global Synchronous
Condenser Market.
The electric field of a synchronous condenser is
controlled by a voltage regulator. It helps in either generating or absorbing
the reactive power. This is done in order to adjust the entire grid’s voltage
or to enhance the power factor. The installation process & operation of
this system is similar to that of huge generators & electric motors.
The main benefit of using this machine is the
convenience that it offers. The user can easily adjust the power levels
according to their individualistic requirements. Kinetic energy accumulated in
the rotor of the machine can aid in stabilizing the power system during
emergencies. Many a times, a large synchronous condenser is used in connotation
with high-voltage direct current. The combination of these two systems can
supply reactive power to the interchanging current grid.
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Latest
Industry News
General Electric recently reported its first-quarter
earnings that outpaced Wall Street expectations and reaffirmed its financial
outlook for the year. Shares of GE rose as high as 7% in early trading, before
sliding to trade 3% up on the day.
First-quarter total revenue rose 7 percent to $28.66 billion as per the
expectations of Thomson Reuters who were surveying
GE.
NamPower has made an official
announcement about its plan to spend over N$7 billion during the next five to
seven years on the implementation of its Transmission Infrastructure Expansion
Programme. Namibia’s overall current peak demand
for electricity is 650 MWs. However, Ruacana Hydro Power Station the
main energy provider in Namibia has an
installed capacity of 347MW. This power supply is supplemented by the ANIXAS Power Station (diesel-powered station at
Walvis Bay in the west of Namibia), with an installed capacity of 22.4 MW. The
Van Eck Power Station in Windhoek, with its installed capacity of 120 MW, is
undergoing refurbishment. It is being used
in Synchronous Condenser Operation mode to
stabilize the transmission grid.
Market
Segmentation
The Global Synchronous Condenser Market is segmented
on the basis of cooling type, reactive power rating, starting method, end-user,
product type, and region.
By
Cooling Type, the market is segmented into ait,
water, and hydrogen.
By
Reactive Power Rating, the market is segmented into up to 100MVAr, between 100-200 MVAr, and above
MVAr.
By
Starting Method, the market is segmented into static
frequency converter, pony motor, and others.
By
End-User, the market is segmented into industries and
electrical utilities.
By
Product Type, the market is divided between
refurbished and new.
The global
division of the market segments it into North America, Europe, Asia Pacific and
the Rest of the World.
Regional
Analysis.
North America accounts for the most significant
region in the global synchronous condenser market and is followed by Europe.
There is a high demand for and growing
use of renewable power in these regions. These regions have supportive
government policies with regards to the use of renewable power generation.
Moreover, the growing HVDC network in Europe drives the regional market.
The Asia Pacific is a prominent market due to the
presence of several leading market players. Japan is among the leading
countries in the region, and APAC has
gradually become a manufacturing hub, with electrical and other machine
components being abundantly and cheaply available. Moreover, the growing need
for continuous flowing power in the
rapidly urbanizing region which has a high concentration of emerging economies
further drives the demand and use of synchronous condensers to assist in
normalizing the fluctuation of power.
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