The global synchronous condenser market size was USD 662.6 million in 2022 and is expected to register a rapid revenue CAGR of 2.5% during the forecast period. Increasing use of renewable and sustainable energy sources and rising requirement of Power Factor Correction (PFC) and investments in developing Transmission And Distribution (T&D) infrastructures and capacity additions are key factors driving market revenue growth.
In view of the current COVID-19 pandemic, the growth of the Synchronous Condenser industry is expected to be significantly affected, especially due to movement restrictions and lockdowns affecting supply and demand. There has been a significant impact of the COVID-19 pandemic on several sectors of the global market. The Synchronous Condenser sector is expected to be affected too. The economic slowdown and dynamic changes in the demands will also adversely affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall Synchronous Condenser industry.
Key Companies Profiled in the Report:
ABB, General Electric, Mitsubishi Electric Corporation, Schneider Electric, Siemens, ANDRITZ, Ansaldo Energia, Voith GmbH & Co. KGaA, Fuji Electric Co., Ltd., Bharat Heavy Electricals Limited (BHEL), IDEAL ELECTRIC POWER CO., WEG, and Eaton CorporationBrowse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/synchronous-condenser-market