Synchronous Condenser Market Trends

Synchronous Condenser Industry Trends

The use of synchronous condensers has been influenced by the introduction of grids supported by renewable energy sources coupled with the growing trend of implementing utility-scale projects. The deployment opportunities for this condensing technology have been significantly enhanced on account of growing concerns toward climate change, the decreasing costs of renewable technologies, and government policies and incentives promoting clean energy. Additionally, there is a positive outlook for renewable energy integration supported by regulatory measures aimed at establishing a sustainable energy mix will drive industry growth.