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Global Synchronous Condensers Market to Reach $712 Million by 2027
In the changed post COVID-19 business landscape, the global market for Synchronous Condensers estimated at US$614.3 Million in the year 2020, is projected to reach a revised size of US$712 Million by 2027, growing at a CAGR of 2.1% over the analysis period 2020-2027. Hydrogen Cooled, one of the segments analyzed in the report, is projected to record a 2.6% CAGR and reach US$265.9 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Air Cooled segment is readjusted to a revised 2% CAGR for the next 7-year period.

The U.S. Market is Estimated at $167.9 Million, While China is Forecast to Grow at 3.6% CAGR
The Synchronous Condensers market in the U.S. is estimated at US$167.9 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$130.6 Million by the year 2027 trailing a CAGR of 3.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.2% and 1.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$87.2 Million by the year 2027.



Water Cooled Segment to Record 1.8% CAGR
In the global Water Cooled segment, USA, Canada, Japan, China and Europe will drive the 1.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$148.6 Million in the year 2020 will reach a projected size of US$167.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 1.8% CAGR through the analysis period.