North America Synchronous Condenser Market Trends, Size, Segment and Growth by Forecast to 2030

Market Overview and Dynamics
The North America synchronous condenser market is projected to grow from US$ 189.95 million in 2019 to US$ 199.92 million by 2027, at a CAGR of 1.5% from 2020 to 2027. A key driver of this growth is the transition of existing synchronous generators into synchronous condensers—a cost-effective solution to support grid stability as aging traditional power plants are decommissioned.

The decline in demand for conventional power generation—driven by aging infrastructure, stringent environmental regulations, and rising competition from gas turbines and renewables—is leading to the closure of numerous coal-fired plants across North America. These closures reduce the availability of reactive power, prompting utilities to retrofit former generation units as synchronous condensers. This trend is creating new growth opportunities across the region.

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Key Market Segments

• Cooling Type: The hydrogen-cooled segment held the largest market share in 2019.
• Reactive Power Rating: Units rated above 200 MVAr dominated the market.
• Starting Method: The static frequency converter segment led the market in 2019.
• Application: The electrical utilities and grid operators segment accounted for the largest share.

Key Companies Profiled
Major companies contributing to the market include:

• ABB Ltd.
• Brush Group
• Eaton Corporation plc
• FUJI ELECTRIC CO., LTD.
• General Electric Company
• IDEAL ELECTRIC POWER CO.
• Mitsubishi Electric Power Products, Inc. (Mitsubishi Electric Corporation)
• Siemens AG (Siemens Energy)
• Voith GmbH & Co. KGaA
• WEG ELECTRIC CORP.

Sources Referenced
The report draws on a range of sources, including company websites, annual and financial reports, government publications, and statistical databases.

Reasons to Buy This Report

• Gain a comprehensive understanding of the North America synchronous condenser market and its key segments.
• Stay competitive by tracking evolving market dynamics and trends.
• Identify the most promising segments for mergers, acquisitions, or strategic partnerships.
• Make informed business decisions through detailed analysis of market performance.
• Access revenue forecasts by segment from 2020 to 2027 within the North American region.

Market Introduction

Synchronous condensers play a critical role in modern power systems by continuously generating or absorbing adjustable reactive power, enhancing short-circuit strength, and contributing to frequency stability through the provision of synchronous inertia. These systems are not designed to convert electricity into mechanical energy or vice versa but are instead utilized for their capabilities in voltage regulation and grid stability.

Since the Industrial Revolution, fossil fuels have been the dominant source of energy, resulting in significant environmental and health consequences. In response, there has been a global shift toward renewable energy sources to reduce carbon dioxide emissions. This transition has led to an increasing demand for technologies that support grid reliability—such as synchronous condensers—thereby fueling market growth in North America.

North America stands as the largest market for synchronous condensers, with rising adoption in countries like the US and Canada across sectors including electrical utilities, grid operations, mining, marine, and oil and gas. Government and private sector investments in renewable energy are further accelerating this trend. For example, in 2019, the US invested approximately US$ 301.7 billion in renewable energy. These investments are enabling companies to develop and deploy advanced power generation solutions across both local and regional markets. Additionally, initiatives to repurpose existing synchronous generators into synchronous condensers are expected to further propel market growth in the region.

The COVID-19 pandemic, however, had a notable impact on North America, particularly the United States. As one of the most technologically advanced regions with strong government support for innovation and infrastructure, the disruption caused by the pandemic affected a wide range of industries. The closure of production facilities and challenges within the supply chain and logistics sectors hampered manufacturing activities, including those related to synchronous condensers. Despite these challenges, the high demand for power—especially from the healthcare sector—highlighted the critical need for reliable energy, thereby reinforcing the importance of renewable energy solutions. Nonetheless, supply chain disruptions during lockdowns in key economies such as the US and Canada adversely affected the availability of essential components, temporarily impacting the growth trajectory of the synchronous condenser market.

In summary, while the pandemic posed temporary setbacks, the long-term outlook for the North American synchronous condenser market remains strong, driven by the growing emphasis on renewable energy and grid stability.

North America Synchronous Condenser Strategic Insights

Strategic insights for the North America Synchronous Condenser provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

key company profiles

  ABB Ltd.

  Brush Group

  Eaton Corporation plc

  FUJI ELECTRIC CO., LTD.

  General Electric Company

  IDEAL ELECTRIC POWER CO.

  Mitsubishi Electric Power Products, Inc. (Mitsubishi Electric Corporation)

  Siemens AG (Siemens Energy)

  Voith GmbH & Co. KGaA

  WEG ELECTRIC CORP.

North America Synchronous Condenser Market – Regional Insights

The geographic scope of the North America Synchronous Condenser market encompasses the distinct regions where businesses operate and compete. Understanding regional differences—such as variations in customer preferences (e.g., demand for specific plug configurations or battery backup capabilities), economic conditions, and regulatory frameworks—is essential for developing tailored market strategies. By identifying underserved areas and adapting products or services to meet local needs, companies can enhance their market penetration. A focused regional approach enables more efficient resource allocation, customized marketing efforts, and stronger competitive positioning, ultimately driving growth across key areas of the North American market.

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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights