Variable Speed Generator Market Scenario
The
Global Variable Speed Generator Market is poised to touch a valuation of USD
9,600 million by 2023, according to Market Research Future (MRFR). It stood at
USD 5,370 million in 2017. The rising energy crunch faced by economies
worldwide have elicited the need for alternative energy sources. Increasing
demand for generators which provide high quality voltage while saving on energy
expenses is likely to induce demand for variable speed generators. A detailed analysis report of COVID-19
impact on Variable Speed Generation Market is provided with the report.
Government
policies committed to minimizing carbon emissions have given way for the
construction of projects of renewable sources of energy. This can prove to be favourable
for the market owing to rising demand for these generators to increase the
rotational speed of wind turbines. Rising number of applications in hybrid
energy systems which can improve energy savings of industries can augur well
for the market. Modernization of power grids by replacing legacy equipment in
the face of development of smart cities is likely to open up new avenues for
the market.
Segmentation
The variable speed generator market can be segmented
on the basis of generator type, rating type, technology, prime mover, and
end-user.
By generator type, the market is segmented into
permanent magnet synchronous generator, variable speed self-excited induction
generator, wound induction generator, and doubly fed induction generator.
By rating type, the market categorizes generators into
the following segments - up to 100 KVA, 100 KVA-1 MVA, 1 MVA-25 MVA, and above
25 MVA.
By technology, the market comprises mechanical and
power electronics-based variable speed generators.
The various prime movers which can integrate speed
generators include hydro turbines, wind turbines, internal combustion engine,
and combustion engines.
End-users discussed in the variable speed generator
market include marine and shipbuilding, renewable power generation, oil &
gas mining, hydroelectric power generation, aerospace and telecommunications,
commercial and residential, and others.
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Report at: https://www.marketresearchfuture.com/reports/variable-speed-generator-market-6658
Regional Analysis
Region-wise, the variable speed generator market spans
North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW).
The APAC region accounted for the lion’s share in 2017
and expects to grow robustly over the forecast period. Increasing
industrialization and urbanization are fueling the demand for variable speed
generators. The passing of energy mandates by nations to capture and store
power via renewable sources of energy is likely to boost the market growth over
the forecast period. This is likely to attract foreign investors and culminate
in favorable schemes.
Key Players
Prominent players in the variable speed generator
market include GENERAL ELECTRIC (U.S.), Ausonia srl (Italy), Cummins Inc.
(U.S.), Innovus Power Inc. (U.S.), Fischer Panda GmbH (Germany), Generac Power
Systems, Inc. (U.S.), ABB (Switzerland), Siemens AG (Germany), YANMAR CO., LTD.
(Japan), WhisperPower B.V. (The Netherlands), HIMOINSA (Spain), and others.
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