The Europe synchronous condenser market is expected to grow from US$ 154.52 million in 2019 to US$ 179.84 million by 2027; it is estimated to grow at a CAGR of 2.8 % from 2020 to 2027.
The Business Market Insights provides you regional research analysis on “Europe Synchronous Condenser Market” and forecast to 2027. The research report provides deep insights into the regional market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the Europe Synchronous Condenser market during the forecast period, i.e., 2020–2027.
Increment in high-voltage direct current (HVDC) network is expected to upsurge the Europe synchronous condenser market. Existing and planned enhancements and extension of the high-voltage direct current (HVDC) network are expected to increase the demand for power factor correction devices, such as synchronous condensers, in different regions. High investments by key market players across Europe to build a strong HVDC network among major countries are further fueling the demand for synchronous condensers. For instance, Siemens has received the contract for building the link between Great Britain and France. The HDVC link would offer power supply reliability across both the countries to promote integration of renewable energy sources in the power grids. Siemens would supply the two HVDC converter stations on both sides of the DC power line, which would be routed through the Channel Tunnel as a DC cable. Technological progress in HVDC transmission systems is expected to assist in minimizing wind and solar-based electricity transmission system operational problems, as the phase gap in the HVDC transmission line does not matter. Although traditional HVAC does not operate on this principle, transformers are required to fit the stage generated from a different source. This is also expected to provide a better opportunity for the HVDC transmission system to expand across European countries. Increased renewable energy penetration has accelerated the adoption of HVDC transmission networks. Thus, the above-mentioned factors are contributing to the growth of the Europe synchronous condenser market.
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The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the regional landscape. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Europe Synchronous Condenser market. The researcher provides an extensive analysis of the Europe Synchronous Condenser market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.
Major key players covered in this report:
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Europe Synchronous Condenser market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the Europe Synchronous Condenser market segments and regions.
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The research on the Europe Synchronous Condenser market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the Europe Synchronous Condenser market on the basis of end user, product type, application, and demography for the forecast period 2020–2027. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.
This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the Europe Synchronous Condenser market.
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