““The synchronous condenser market is expected to reach a value of USD 532.6 million by 2020, at a CAGR of 2.4% from 2015 to 2020”.
The increasing electrical power consumption and rising need to maximize transmission capacity are becoming more and more important. Along with this, growing renewable-based power generation to the energy mix, retiring conventional power plants, and growing network of High-Voltage Direct Current (HVDC) system has considerable effect on transmission grid stability. Synchronous condensers play a vital role by generating lagging and leading reactive power and help to stabilize the transmission grid. It also offers several advantages over the other substitutes such as no harmonics, short-circuit power capability, and inertia to the transmission grid among others.
Electricity generated by conventional power plant is transmitted via synchronous generators, which helps to maintain grid stability. Whereas renewable energy sources such as wind and solar use asynchronous generating technology, and requires additional equipment to control/maintain reactive power of the system. Growing renewable energy-based power generation to the energy mix coupled with retirement of conventional power plants and growing HVDC network are expected to drive the demand of synchronous condenser market across the globe.
“Synchronous condensers rated above 200 MVAr dominate the global market”
Synchronous condensers rated above 200 MVAr held the largest market share in 2014, and is expected to be the fastest growing segment in the synchronous condensers market from 2015 to 2020. This growth is attributed to the rising demand for uninterrupted power supply and increasing diversity in the generation mix, especially in North America and European countries.
“North America to lead the global synchronous condensers market in terms of growth rate”
The synchronous condensers market in North America is projected to grow at the fastest rate during the forecast period. Gradual phasing out of thermal power plants and increasing renewable power generation are driving the synchronous condensers market in the region. North America is followed by Europe. Demand for synchronous condensers in Europe is mainly driven by rising HVDC network in the region.
Breakdown of Primaries
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants among other experts to obtain & verify critical qualitative and quantitative information as well as assess future market prospects. Distribution of primary interviews is as follows:
By Company Type: Tier 1—69%, Tier 2—22%, and Tier 3—9%
By Designation: C-Level—35%, Director Level—38%, and Others*—27%
By Region: North America—52%, Europe—29%, Asia-Pacific—8%, and RoW—11%
Note: *Others include sales managers, marketing managers, and product managers
The tier of the companies is defined on the basis of their total revenue, as of 2013: Tier 1 = >USD 10 billion, Tier 2 = from USD 1 billion to USD 10 billion, and Tier 3 =
“TABLE OF CONTENTS
1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 MARKET SCOPE 15
1.3.1 MARKETS COVERED 15
1.3.2 YEARS CONSIDERED FOR THE STUDY 16
1.4 CURRENCY 16
1.5 LIMITATIONS 17
1.6 STAKEHOLDERS 17
2 RESEARCH METHODOLOGY 18
2.1 RESEARCH DATA 18
2.1.1 SECONDARY DATA 19
2.1.1.1 Key data from secondary sources 19
2.1.2 PRIMARY DATA 20
2.1.2.1 Key data from primary sources 20
2.1.2.2 Key industry insights 21
2.1.2.3 Breakdown of primaries 21
2.2 MARKET SIZE ESTIMATION 22
2.2.1 BOTTOM-UP APPROACH 22
2.2.2 TOP-DOWN APPROACH 23
2.3 MARKET BREAKDOWN & DATA TRIANGULATION 24
2.4 RESEARCH ASSUMPTIONS & LIMITATIONS 25
2.4.1 ASSUMPTIONS 25
2.4.2 LIMITATIONS 26
3 EXECUTIVE SUMMARY 27
3.1 INTRODUCTION 27
3.1.1 CURRENT SCENARIO 27
3.2 FUTURE OUTLOOK 29
3.3 CONCLUSION 31
4 PREMIUM INSIGHTS 32
4.1 ATTRACTIVE OPPORTUNITIES IN THE SYNCHRONOUS CONDENSER MARKET 32
4.2 NORTH AMERICA ACCOUNTED FOR THE LARGEST MARKET SHARE IN 2014 33
4.3 SYNCHRONOUS CONDENSER MARKET: BY COOLING TYPE 34
4.4 SYNCHRONOUS CONDENSER MARKET IN NORTH AMERICA 35
4.5 GLOBAL SYNCHRONOUS CONDENSER MARKET BY REACTIVE POWER RATING 36
4.6 SYNCHRONOUS CONDENSER MARKET: BY STARTING METHOD 37
5 MARKET OVERVIEW 38
5.1 INTRODUCTION 39
5.2 MARKET SEGMENTATION 39
5.3 MARKET DYNAMICS 39
5.3.1 DRIVERS 41
5.3.1.1 Increasing renewable power generation 41
5.3.1.2 Long service life 41
5.3.1.3 Rising need for power factor correction 41
5.3.2 RESTRAINTS 42
5.3.2.1 High maintenance and equipment cost 42
5.3.3 OPPORTUNITIES 42
5.3.3.1 Growing HVDC network 42
5.3.3.2 Phase out of conventional power plants 42
5.3.4 CHALLENGES 43
5.3.4.1 Availability of low-cost alternatives 43
5.4 IMPACT OF MARKET DYNAMICS 44
5.5 VALUE CHAIN ANALYSIS 45
5.6 PORTER’S FIVE FORCES ANALYSIS 46
5.6.1 THREAT OF NEW ENTRANTS 47
5.6.1.1 Initial capital investment is high 47
5.6.1.2 Established players 47
5.6.2 THREAT OF SUBSTITUTES 47
5.6.2.1 Substitutes available 47
5.6.3 BARGAINING POWER OF SUPPLIERS 48
5.6.3.1 Reluctance to integrate backward 48
5.6.4 BARGAINING POWER OF BUYERS 48
5.6.4.1 Limited customer base 48
5.6.5 INTENSITY OF COMPETITIVE RIVALRY 49
5.6.5.1 Few equally sized competitors and low switching cost 49
6 SYNCHRONOUS CONDENSER MARKET, BY COOLING TYPE 50
6.1 INTRODUCTION 51
6.2 HYDROGEN-COOLED SYNCHRONOUS CONDENSER MARKET 52
6.3 AIR-COOLED SYNCHRONOUS CONDENSER MARKET 53
6.4 WATER-COOLED SYNCHRONOUS CONDENSER MARKET 53
7 SYNCHRONOUS CONDENSER MARKET, BY REACTIVE POWER RATING (MVAR) 54
7.1 INTRODUCTION 55
7.2 SYNCHRONOUS CONDENSER WITH REACTIVE POWER RATING UP TO 100 MVAR 56
7.3 SYNCHRONOUS CONDENSER WITH REACTIVE POWER RATING BETWEEN 100 AND
200 MVAR 56
7.4 SYNCHRONOUS CONDENSER WITH REACTIVE POWER RATING ABOVE 200 MVAR 57
8 SYNCHRONOUS CONDENSER MARKET, BY STARTING METHOD 58
8.1 INTRODUCTION 59
8.2 STATIC FREQUENCY CONVERTER 60
8.3 PONY MOTOR 61
8.4 OTHERS 61
9 SYNCHRONOUS CONDENSER MARKET, BY END-USER 62
9.1 INTRODUCTION 63
9.2 ELECTRICAL UTILITIES 64
9.3 INDUSTRIES 65
10 SYNCHRONOUS CONDENSER MARKET, BY REGION 66
10.1 INTRODUCTION 67
10.2 NORTH AMERICA 69
10.2.1 BY COOLING TYPE 70
10.2.2 BY STARTING METHOD 70
10.2.3 BY REACTIVE POWER RATING (MVAR) 71
10.2.4 BY END-USER 71
10.2.5 BY COUNTRY 72
10.2.5.1 Canada 72
10.2.5.1.1 By cooling type 72
10.2.5.1.2 By reactive power rating (MVAr) 73
10.2.5.2 U.S. 73
10.2.5.2.1 By cooling type 73
10.2.5.2.2 By reactive power rating (MVAr) 74
10.3 EUROPE 74
10.3.1 BY COOLING TYPE 76
10.3.2 BY REACTIVE POWER RATING 76
10.4 BY STARTING METHOD 77
10.4.1 BY END-USER 77
10.4.2 BY COUNTRY 78
10.4.2.1 Denmark 78
10.4.2.1.1 By cooling type 79
10.4.2.1.2 By reactive power rating (MVAr) 79
10.4.2.2 Italy 80
10.4.2.2.1 By cooling type 80
10.4.2.2.2 By reactive power rating (MVAr) 80
10.4.2.3 Norway 81
10.4.2.3.1 By cooling type 81
10.4.2.3.2 By reactive power rating (MVAr) 81
10.4.2.4 Germany 82
10.4.2.4.1 By cooling type 82
10.4.2.4.2 By reactive power rating (MVAr) 83
10.4.2.5 Rest of Europe 83
10.4.2.5.1 By cooling type 83
10.4.2.5.2 By reactive power rating (MVAr) 84
10.5 SOUTH AMERICA 84
10.5.1 BY COOLING TYPE 84
10.5.2 BY REACTIVE POWER RATING (MVAR) 85
10.5.3 BY STARTING METHOD 85
10.5.4 BY END-USER 86
10.5.5 BY COUNTRY 86
10.5.5.1 Brazil 87
10.5.5.1.1 By cooling type 87
10.5.5.1.2 By reactive power rating (MVAr) 87
10.5.5.2 Rest of South America 88
10.5.5.2.1 By cooling type 88
10.5.5.2.2 By reactive power rating (MVAr) 88
10.6 REST OF THE WORLD 89
10.6.1 BY COOLING TYPE 89
10.6.2 BY REACTIVE POWER RATING (MVAR) 89
10.6.3 BY STARTING METHOD 90
10.6.4 BY END-USER 90
10.6.5 BY COUNTRY 91
10.6.5.1 Australia 91
10.6.5.1.1 By cooling type 91
10.6.5.1.2 By reactive power rating (MVAr) 92
10.6.5.2 Other countries of RoW 92
10.6.5.2.1 By cooling type 93
10.6.5.2.2 By reactive power rating (MVAr) 93
11 COMPETITIVE LANDSCAPE 94
11.1 OVERVIEW 95
11.2 COMPETITIVE SITUATION & TRENDS 96
11.3 CONTRACTS & AGREEMENTS 98
11.4 EXPANSIONS 98
12 COMPANY PROFILES 99
(Company at a Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
12.1 INTRODUCTION 99
12.2 ABB LTD. 100
12.3 SIEMENS AG 103
12.4 EATON CORPORATION PLC. 107
12.5 GENERAL ELECTRIC COMPANY 110
12.6 FUJI ELECTRIC CO. LTD. 113
12.7 TOSHIBA CORPORATION 115
12.8 VOITH GMBH 117
12.9 HYUNDAI IDEAL ELECTRIC CO. 119
12.10 SUSTAINABLE POWER SYSTEMS, INC. 120
12.11 WEG SA 121
12.12 ELECTROMECHANICAL ENGINEERING ASSOCIATES, INC. 123
*Details on company at a glance, recent financials, products & services, strategies & insights, & recent developments might not be captured in case of unlisted companies.
13 APPENDIX 124
13.1 INSIGHTS OF INDUSTRY EXPERTS 124
13.2 DISCUSSION GUIDE 125
13.3 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 129
13.4 AVAILABLE CUSTOMIZATIONS 130
13.5 RELATED REPORTS 131
“
“LIST OF TABLES
TABLE 1 SERVING LIFE OF POWER FACTOR CORRECTION EQUIPMENT 41
TABLE 2 EXISTING COAL-FIRED CAPACITY RETIREMENTS IN U.S. IN 2012 42
TABLE 3 U.S.: COAL-FIRED ELECTRIC GENERATOR ANNOUNCEMENTS SINCE
NOVEMBER, 2013 43
TABLE 4 SYNCHRONOUS CONDENSERS ALTERNATIVES 43
TABLE 5 IMPACT OF MARKET DYNAMICS 44
TABLE 6 SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE,
2013–2020 (USD MILLION) 52
TABLE 7 HYDROGEN-COOLED SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION, 2013–2020 (USD MILLION) 52
TABLE 8 AIR-COOLED SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION,
2013–2020 (USD MILLION) 53
TABLE 9 WATER-COOLED SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION,
2013–2020 (USD MILLION) 53
TABLE 10 SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2013–2020 (USD MILLION) 55
TABLE 11 SYNCHRONOUS CONDENSER WITH REACTIVE POWER RATING UP TO
100 MVAR MARKET SIZE, BY REGION, 2013–2020 (USD MILLION) 56
TABLE 12 SYNCHRONOUS CONDENSER WITH REACTIVE POWER RATING BETWEEN
100 AND 200 MVAR MARKET SIZE, BY REGION, 2013–2020 (USD MILLION) 56
TABLE 13 SYNCHRONOUS CONDENSER WITH REACTIVE POWER RATING ABOVE
200 MVAR MARKET SIZE, BY REGION, 2013–2020 (USD MILLION) 57
TABLE 14 SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD,
2013–2020 (USD MILLION) 60
TABLE 15 STATIC FREQUENCY CONVERTER: SYNCHRONOUS CONDENSER MARKET SIZE,
BY REGION, 2013–2020 (USD MILLION) 60
TABLE 16 PONY MOTOR: SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION,
2013–2020 (USD MILLION) 61
TABLE 17 OTHERS: SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION,
2013–2020 (USD THOUSAND) 61
TABLE 18 SYNCHRONOUS CONDENSER MARKET SIZE, BY END-USER,
2013–2020 (USD MILLION) 63
TABLE 19 ELECTRICAL UTILITIES: SYNCHRONOUS CONDENSER MARKET SIZE,
BY REGION, 2013–2020 (USD MILLION) 64
TABLE 20 INDUSTRIES: SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION,
2013–2020 (USD MILLION) 65
TABLE 21 SYNCHRONOUS CONDENSER MARKET SIZE, BY REGION,
2013–2020 (USD MILLION) 68
TABLE 22 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 2013–2020 (USD MILLION) 70
TABLE 23 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 2013–2020 (USD MILLION) 70
TABLE 24 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING, 2013–2020 (USD MILLION) 71
TABLE 25 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY END-USER, 2013–2020 (USD MILLION) 71
TABLE 26 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY COUNTRY, 2013–2020 (USD MILLION) 72
TABLE 27 CANADA: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE,
2013–2020 (USD MILLION) 72
TABLE 28 CANADA: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING, 2013–2020 (USD MILLION) 73
TABLE 29 U.S.: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE,
2013–2020 (USD MILLION) 73
TABLE 30 U.S.: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING, 2013–2020 (USD MILLION) 74
TABLE 31 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE,
2013–2020 (USD MILLION) 76
TABLE 32 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2013–2020 (USD MILLION) 76
TABLE 33 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 2013–2020 (USD MILLION) 77
TABLE 34 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY END-USER,
2013–2020 (USD MILLION) 77
TABLE 35 EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY COUNTRY,
2013–2020 (USD MILLION) 78
TABLE 36 DENMARK: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE,
2013–2020 (USD MILLION) 79
TABLE 37 DENMARK: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2013–2020 (USD MILLION) 79
TABLE 38 ITALY: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE,
2013–2020 (USD MILLION) 80
TABLE 39 ITALY: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2013–2020 (USD MILLION) 80
TABLE 40 NORWAY: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE,
2013–2020 (USD MILLION) 81
TABLE 41 NORWAY: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2013–2020 (USD MILLION) 81
TABLE 42 GERMANY: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE,
2013–2020 (USD MILLION) 82
TABLE 43 GERMANY: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2013–2020 (USD MILLION) 83
TABLE 44 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 2013–2020 (USD MILLION) 83
TABLE 45 REST OF EUROPE: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2013–2020 (USD MILLION) 84
TABLE 46 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE, 2013–2020 (USD MILLION) 84
TABLE 47 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2013–2020 (USD MILLION) 85
TABLE 48 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD, 2013–2020 (USD MILLION) 85
TABLE 49 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY END-USER, 2013–2020 (USD MILLION) 86
TABLE 50 SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE, BY COUNTRY, 2013–2020 (USD MILLION) 86
TABLE 51 BRAZIL: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE,
2013–2020 (USD MILLION) 87
TABLE 52 BRAZIL: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2013–2020 (USD MILLION) 87
TABLE 53 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY COOLING TYPE, 2013–2020 (USD MILLION) 88
TABLE 54 REST OF SOUTH AMERICA: SYNCHRONOUS CONDENSER MARKET SIZE,
BY REACTIVE POWER RATING (MVAR), 2013–2020 (USD MILLION) 88
TABLE 55 ROW: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE,
2013–2020 (USD MILLION) 89
TABLE 56 ROW: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2013–2020 (USD MILLION) 89
TABLE 57 ROW: SYNCHRONOUS CONDENSER MARKET SIZE, BY STARTING METHOD,
2013–2020 (USD MILLION) 90
TABLE 58 ROW: SYNCHRONOUS CONDENSER MARKET SIZE, BY END-USER,
2013–2020 (USD MILLION) 90
TABLE 59 ROW: SYNCHRONOUS CONDENSER MARKET SIZE, BY COUNTRY,
2013–2020 (USD MILLION) 91
TABLE 60 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET SIZE, BY COOLING TYPE,
2013–2020 (USD MILLION) 91
TABLE 61 AUSTRALIA: SYNCHRONOUS CONDENSER MARKET SIZE, BY REACTIVE POWER RATING (MVAR), 2013–2020 (USD MILLION) 92
TABLE 62 OTHER COUNTRIES OF ROW: SYNCHRONOUS CONDENSER MARKET SIZE,
BY COOLING TYPE, 2013–2020 (USD MILLION) 93
TABLE 63 OTHER COUNTRIES OF ROW: SYNCHRONOUS CONDENSER MARKET SIZE,
BY TYPE, 2013–2020 (USD MILLION) 93
TABLE 64 CONTRACTS & AGREEMENTS, 2014–2015 98
TABLE 65 EXPANSIONS, 2014 98
“
“LIST OF FIGURES
FIGURE 1 SYNCHRONOUS CONDENSER MARKET: RESEARCH DESIGN 18
FIGURE 2 BOTTOM-UP APPROACH 22
FIGURE 3 TOP-DOWN APPROACH 23
FIGURE 4 DATA TRIANGULATION METHODOLOGY 24
FIGURE 5 ASSUMPTIONS OF THE RESEARCH STUDY 25
FIGURE 6 LIMITATIONS OF THE RESEARCH STUDY 26
FIGURE 7 NORTH AMERICA OCCUPIED THE LARGEST MARKET SHARE (VALUE) IN 2014 28
FIGURE 8 SYNCHRONOUS CONDENSER MARKET SHARE (VALUE),
BY COOLING METHOD, 2014 29
FIGURE 9 SYNCHRONOUS CONDENSER MARKET SIZE (VALUE), BY REACTIVE POWER RATING (MVAR), 2015 & 2020 30
FIGURE 10 ELECTRICAL UTILITIES TO REMAIN THE LARGEST END USER OF SYNCHRONOUS CONDENSER DURING 2015 T0 2020 31
FIGURE 11 RISING SHARE OF RENEWABLE ENERGY GENERATION IS EXPECTED TO DRIVE THE DEMAND FOR SYNCHRONOUS CONDENSERS DURING THE FORECAST PERIOD 32
FIGURE 12 NORTH AMERICAN SYNCHRONOUS CONDENSER MARKET IS EXPECTED TO HAVE
A DECENT GROWTH DURING THE FORECAST PERIOD 33
FIGURE 13 HYDROGEN COOLING IS EXPECTED TO HOLD THE LARGEST MARKET SHARE DURING THE FORECAST PERIOD 34
FIGURE 14 THE SYNCHRONOUS CONDENSER MARKET IN CANADA CAPTURED THE LARGEST SHARE IN NORTH AMERICA DURING 2015 TO 2020 35
FIGURE 15 SYNCHRONOUS CONDENSER WITH REACTIVE POWER RATING ABOVE 200 MVAR ACCOUNTED FOR THE LARGEST MARKET SHARE IN 2014 36
FIGURE 16 STATIC FREQUENCY CONVERTER SEGMENT IS ESTIMATED TO HOLD THE LARGEST SHARE IN THE SYNCHRONOUS CONDENSER MARKET IN 2015 37
FIGURE 17 SYNCHRONOUS CONDENSER MARKET SEGMENTATION 39
FIGURE 18 INCREASING FOCUS ON RENEWABLE ENERGY PRODUCTION TO PROPEL
MARKET GROWTH 40
FIGURE 19 VALUE CHAIN ANALYSIS 45
FIGURE 20 PORTER’S FIVE FORCES ANALYSIS: INTENSITY OF COMPETITIVE RIVALRY IS HIGH IN THE SYNCHRONOUS CONDENSER MARKET 46
FIGURE 21 HYDROGEN-COOLED SYNCHRONOUS CONDENSER SEGMENT IS EXPECTED TO DOMINATE THE MARKET FROM 2015 TO 2020 51
FIGURE 22 SYNCHRONOUS CONDENSERS WITH REACTIVE POWER RATING ABOVE 200 MVAR IS EXPECTED TO DOMINATE THE MARKET 55
FIGURE 23 SYNCHRONOUS CONDENSERS STARTED USING STATIC FREQUENCY CONVERTER TO DOMINATE THE MARKET FROM 2015 TO 2020 59
FIGURE 24 ELECTRICAL UTILITIES-BASED END-USER SEGMENT IS EXPECTED TO DOMINATE THE SYNCHRONOUS CONDENSER MARKET, BY END-USER, FROM 2015 T0 2020 63
FIGURE 25 REGIONAL SNAPSHOT: NORTH AMERICA, EUROPE, AND ASIA-PACIFIC ARE EXPECTED TO BE THE MAJOR MARKETS FOR SYNCHRONOUS CONDENSERS, DURING 2015–2020 67
FIGURE 26 U.S.: AN ATTRACTIVE MARKET FOR SYNCHRONOUS CONDENSERS 68
FIGURE 27 NORTH AMERICA: SYNCHRONOUS CONDENSER MARKET OVERVIEW (2014) 69
FIGURE 28 EUROPE: SYNCHRONOUS CONDENSER MARKET OVERVIEW (2014) 75
FIGURE 29 COMPANIES ADOPTED CONTRACTS & AGREEMENTS AS THE KEY GROWTH STRATEGIES DURING 2012–2015 95
FIGURE 30 MARKET EVALUATION FRAMEWORK: SYNCHRONOUS CONDENSER 96
FIGURE 31 BATTLE FOR MARKET SHARE: CONTRACTS & AGREEMENTS WAS THE KEY STRATEGY FROM 2012 TO 2015 97
FIGURE 32 REGION-WISE REVENUE MIX OF THE TOP 5 PLAYERS 99
FIGURE 33 ABB LTD.: COMPANY SNAPSHOT 100
FIGURE 34 ABB LTD.: SWOT ANALYSIS 102
FIGURE 35 SIEMENS AG: COMPANY SNAPSHOT 103
FIGURE 36 SIEMENS AG: SWOT ANALYSIS 106
FIGURE 37 EATON CORPORATION PLC: COMPANY SNAPSHOT 107
FIGURE 38 EATON CORPORATION PLC.: SWOT ANALYSIS 109
FIGURE 39 GENERAL ELECTRIC COMPANY: COMPANY SNAPSHOT 110
FIGURE 40 GENERAL ELECTRIC COMPANY: SWOT ANALYSIS 112
FIGURE 41 FUJI ELECTRIC CO. LTD.: COMPANY SNAPSHOT 114
FIGURE 42 TOSHIBA CORPORATION: COMPANY SNAPSHOT 115
FIGURE 43 VOITH GMBH: COMPANY SNAPSHOT 117
FIGURE 44 WEG SA: COMPANY SNAPSHOT 121
“
