Synchronous Condenser Market Size and Growth Statistics 2032 https://dataintelo.com/report/synchronous-condenser-market The global synchronous condenser market is experiencing robust expansion, driven by the escalating integration of renewable energy sources and the pressing need for grid stability. Valued at approximately USD 1.2 billion in 2023, the market is projected to reach USD 2.4 billion by 2032, registering a Compound Annual Growth Rate (CAGR) of around 7.5% during the forecast period. Synchronous condensers play a pivotal role in modern power systems by providing essential reactive power support, voltage regulation, and inertia, thereby enhancing overall grid reliability. As the global energy landscape shifts towards sustainable sources, the demand for these devices is anticipated to surge.