How big is the synchronous condenser market?

The global synchronous condenser market size was estimated at USD 695.98 million in 2024 and is expected to reach USD 713.8 million in 2025.

What is the synchronous condenser market growth?

The global synchronous condenser market is expected to grow at a compound annual growth rate (CAGR) of 2.7% from 2025 to 2030 to reach USD 818.3 million by 2030.

Which segment accounted for the largest synchronous condenser market share?

Electrical utilities end use accounted for the largest revenue share of 77.71% in 2024 as they help stabilize voltage fluctuations and improve the overall reliability of electrical grids.

Who are the key players in synchronous condenser market?

Some key players operating in the synchronous condenser market include ABB, Siemens Energy, IDEAL ELECTRIC POWER CO., Ansaldo Energia S.p.A., GE Vernova Inc., Andritz AG, Voith, Fuji Electric, WEG, and BRUSH.

What are the factors driving the synchronous condenser market?

The key factors that are driving the synchronous condenser market growth is the growing complexity and variability in power generation across the globe.