According to
Tech Sci Research report, “North America
Synchronous Condenser Market By Cooling Type, By Starting
Method, By End-User, By Reactive Power Rating, By Region, Competition, Forecast
& Opportunities, 2025”, the North America synchronous
condenser market is expected to grow at a steady pace during the next 5 years owing
to increasing demand for power factor correction, retiring conventional power
plants, and growing network of High-Voltage Direct Current (HVDC). Moreover,
some other factors responsible for the growth of this market include rising
government initiatives in order to replace nuclear power generation capacity
with renewables. This increase in renewable energy generation is accredited to
benefits it offers such as declining dependence on fossil fuels, the
diversification of energy supply and reduction in greenhouse gas emissions. However,
the high manufacturing and maintenance cost when compared to its alternatives might
restrain the growth of North America synchronous condenser market through 2025.
Browse XX market data Tables and XX Figures spread through XXX Pages and an in-depth TOC on " North America Synchronous Condenser Market"
North
America synchronous condenser market can be segmented based on cooling type,
starting method, end user, reactive power rating and region. On basis of starting
method, the market can be segmented into static frequency converter, pony motor
and others. Among them, static frequency converter segment is anticipated to
hold the largest share in the North America synchronous condenser market during
the forecast period as it is independent of supply voltage and load variations along
with low installation cost. Additionally, its features such as high reliability,
low volume and low noise characteristics makes it a popular choice.
Siemens
AG, ABB Ltd, Sustainable Power Systems Inc, Eaton Corporation PLC, Power
Systems and Control Inc, WEG SA, Fuji Electric Co. Ltd, General Electric
Company, Electromechanical Engineering Associates Inc., Hyundai Ideal Electric
Co etc. are some of the leading players operating in North America synchronous
condenser market.
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“North America synchronous
condenser market is expected to witness significant growth during the forecast
period which can be attributed to surging demand for synchronous condensers in
Canada. Additionally, rising trend to convert old power plants to synchronous
condensers in country like in the United States is further anticipated to propel
market growth in this region until 2025.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“North America Synchronous Condenser Market By
Cooling Type, By Starting Method, By End-User, By Reactive Power Rating, By
Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of North
America synchronous condenser market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities in North
America synchronous condenser market.
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