Asia Pacific Synchronous Condenser Market Size & Outlook
The synchronous condenser market in Asia Pacific is expected to reach a projected revenue of US$ 171.6 million by 2030. A compound annual growth rate of 3.1% is expected of Asia Pacific synchronous condenser market from 2025 to 2030.
Revenue, 2024 (US$M)
$143.4
Forecast, 2030 (US$M)
$171.6
CAGR, 2025 - 2030
3.1%
Report Coverage
Asia Pacific
Asia Pacific synchronous condenser market highlights
- The Asia Pacific synchronous condenser market generated a revenue of USD 139.5 million in 2023.
- The market is expected to grow at a CAGR of 3% from 2024 to 2030.
- In terms of segment, new synchronous condenser was the largest revenue generating product in 2023.
- New Synchronous Condenser is the most lucrative product segment registering the fastest growth during the forecast period.
Asia Pacific data book summary
| Market revenue in 2023 | USD 139.5 million |
| Market revenue in 2030 | USD 171.6 million |
| Growth rate | 3% (CAGR from 2023 to 2030) |
| Largest segment | New synchronous condenser |
| Fastest growing segment | New Synchronous Condenser |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | New Synchronous Condenser |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 20.5% of the global synchronous condenser market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 171.6 million by 2030.
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Synchronous Condenser Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Voith | View profile | 10001+ | Heidenheim An Der Brenz, Baden-Wurttemberg, Germany, Europe | https://voith.com/corp-en/index.html |
| Andritz AG | View profile | 29717 | Stattegger Strasse 18, Graz, Austria, 8045 | https://www.andritz.com |
| Weg SA ADR | View profile | 40793 | Avenida Prefeito Waldemar Grubba, No. 3300, Jaragua do Sul, SC, Brazil, 89256-900 | https://www.weg.net |
| Ansaldo Energia | View profile | 1001-5000 | Podere Liguria, Emilia-Romagna, Italy, Europe | https://www.ansaldoenergia.com/ |
| Siemens Energy AG ADR | View profile | 97000 | Otto-Hahn-Ring 6, Munich, BY, Germany, 81739 | https://www.siemens-energy.com |
| Ideal Power Inc | View profile | 11 | 5508 Highway 290 West, Suite 120, Austin, TX, United States, 78735 | https://www.idealpower.com |
| Fuji Electric Co Ltd | View profile | 30123 | Gate City Ohsaki, East Tower, 11-2, Osaki 1-chome, Shinagawa-ku, Tokyo, Japan, 141-0032 | http://www.fujielectric.co.jp |
| GE Vernova Inc | View profile | - | 58 Charles Street, Cambridge, MA, United States, | https://www.gevernova.com |
| ABB Ltd | View profile | 108700 | Affolternstrasse 44, Zurich, Switzerland, 8050 | https://www.abb.com |
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