Synchronous condensers play a vital role in modern electrical grids, particularly in enhancing the stability and reliability of renewable energy integration. As renewable sources such as wind and solar are inherently variable, synchronous condensers provide essential reactive power support to stabilize grid voltage. This capability helps mitigate voltage fluctuations and improves overall power quality, facilitating increased penetration of renewables without compromising grid performance. Moreover, synchronous condensers contribute to grid resilience during contingencies by offering inertia and fault current support, ensuring reliable operation even under fluctuating conditions in the power system. Their ability to regulate reactive power without mechanical load makes them versatile tools for maintaining grid stability in dynamic energy environments.
Global Synchronous Condenser Market was valued at USD 2.65 billion in 2023 and is expected to reach USD 3.63 billion by 2031, with a growing CAGR of 4.1% during the forecast period 2024 to 2031.
To know more, visit https://www.databridgemarketresearch.com/de/reports/global-synchronous-condenser-market
Below are the Top Synchronous Condenser Companies with a Significant Market Share:
|
Rank
|
Company
|
Overview
|
Product Portfolio
|
Sales Geographical Coverage
|
Developments
|
|
1.
|
General Electric
|
GE offers synchronous condensers as part of its power generation and grid solutions portfolio. Known for robust engineering and reliability, GE's synchronous condensers are utilized globally to stabilize grid voltage and support renewable energy integration.
|
|
South America, North America, Middle East and Africa, Asia-Pacific, and Europe
|
In November 2023, General Electric announced that a consortium comprising GE Vernova’s Power Conversion business and Eiffage Énergie Systèmes (consortium manager) has been selected by EDF SEI to provide and install a turnkey synchronous condenser system at the EDF SEI TAC Jarry Sud plant in Guadeloupe, France. This solution played a crucial role in stabilizing the island's electrical grid, addressing the growing challenges of grid instability amidst global efforts to reduce carbon emissions through increased renewable energy reliance. This benefited company to strengthen its relationship with government.
|
|
2.
|
ABB
|
ABB is a leading provider of power and automation technologies, including synchronous condensers. Their solutions are known for high efficiency and advanced control systems, optimizing grid stability and reactive power management in various global markets.
|
|
Middle East and Africa, North America, South America, Asia-Pacific, and Europe
|
In March 2023, ABB announced the turnkey project for Statkraft, Europe's largest renewable power generator, for the stable operation of the UK power grid. This project has featured two high-inertia synchronous condenser systems installed at the Lister Drive Greener Grid Park in Liverpool. This will help the company increase the grid reliability by 3.5 times and gain the market's popularity.
|
|
3.
|
Eaton
|
Eaton manufactures synchronous condensers under its electrical products segment. Their offerings emphasize grid reliability and energy efficiency, leveraging Eaton's expertise in power distribution and control solutions to enhance grid stability and support renewable energy deployment.
|
|
Americas, Middle East and Africa, Asia-Pacific, and Europe
|
In April 2023, Eaton announced the acquisition of a 9% stake in Jiangsu Ryan Electrical Co. Ltd., which manufactures power distribution and sub-transmission transformers in China. This acquisition helped the company to concentrate on electrical products and services. Moreover, it accelerates the company's global distribution, especially in Asia-Pacific.
|
|
4.
|
Baker Hughes Company
|
Baker Hughes continues to provide advanced technology solutions for the energy sector, including synchronous condensers. Their offerings typically integrate advanced digital controls and monitoring systems to optimize grid performance and support renewable energy integration initiatives.
|
|
North America, South America, Middle East and Africa, Asia-Pacific, and Europe
|
In August 2022, Baker Hughes Company acquired the power generation division of the brush group to enhance its electric machinery portfolio. This acquisition will help the company rebuild technologies, expand core electrification capabilities and scope, and further enhance the supply chain. This step helped the company reach new industrial customers with broader turbomachinery and climate technology solutions offerings.
|
|
5.
|
Siemens Energy
|
Siemens Energy offers advanced synchronous condensers designed to enhance grid stability and reliability. Their solutions focus on providing efficient reactive power compensation, crucial for managing voltage fluctuations and optimizing grid performance in evolving energy landscapes.
|
|
North America, South America, Middle East and Africa, Asia-Pacific, and Europe
|
In November 2023, Siemens has introduced a hybrid grid stabilization solution at Shannonbridge B in Ireland. This innovative system combines a synchronous condenser with flywheel technology alongside a 160 MWh battery. This marks the first integration of these two technologies into a unified grid connection solution. The primary objective is to enhance grid stability while maximizing the utilization of renewable energy sources. By leveraging this advanced hybrid system, Siemens aims to address grid challenges effectively and facilitate the transition towards a more sustainable energy infrastructure.
|
Conclusion
In the synchronous condenser market, companies such as General Electric, ABB, Eaton, Baker Hughes Company, and SIEMENS ENERGY play pivotal roles with their advanced technologies and solutions. These firms are crucial in supporting grid stability and reliability, particularly amidst increasing renewable energy integration. Their synchronous condenser offerings not only improve power quality by managing voltage fluctuations but also enhance grid resilience during contingencies. As the demand for renewable energy grows, these companies continue to innovate, providing essential tools that facilitate the transition to a more sustainable energy future while ensuring robust and efficient grid operations worldwide.
