Stratview Research has published a new report titled ‘Variable Speed Generator Market’ to its database. It has segmented the market by Generator Type (Variable Speed Self-Excited Induction Generator, Doubly Fed Induction Generator, Wound Rotor Induction Generator, and Permanent Magnet Synchronous Generator), by Technology Type (Power Electronics-Based Variable Speed Generators, Mechanical Variable Speed Generators), by Power Rating Type (Up to 100 Kva, 100 Kva-1 Mva, 1-25 Mva,  and Above 25 Mva), by Prime Mover Type (Hydro Turbines, Wind Turbines, Steam & Gas Turbines, and Internal Combustion Engines), by End-User Type (Renewable Power Generation, Hydroelectric Power Generation, Marine & Shipbuilding, Oil, Gas, & Mining, Commercial & Residential, and Others), and by Region (North America, Europe, Asia-Pacific, and the Rest of the World).

Market Insights

The variable speed generator market was estimated at USD 6.18 billion in 2022 and is likely to grow at a CAGR of 8.89% during 2023-2028 to reach USD 10.35 billion in 2028.

A variable speed gnerator is used in optimizing turbine design. It helps in tuning the wind turbine for maximum energy without getting limited by the speed range of the narrow generator. The generator also can store energy with the help of the battery is there in the inverter.

Variable speed generators can be of various types such as variable speed self-excited induction generators, doubly-fed induction generators, wound rotor induction generators, and permanent magnet synchronous generators. The generator works based on two types and these are power electronics and mechanical variables. Hydroelectric power generation, oil, gas & mining, renewable power generation, marine & shipbuilding, and commercial are some of the industries where variable speed generators are being used.

Market Dynamics

The growth of the variable speed generator market is primarily driven by-

  • Rapid industrialization and urbanization.
  • Growing cognizance of renewable energy.
  • Imposing government directives on energy efficiency.

Market Segments' Analysis

The market researchers have studied the Variable Speed Generator Market minutely for better understanding. The report consists of segment-wise details to assist the users in making suitable decisions for better growth opportunities. Below is a short piece of information -

Based on the power rating type, the market is segmented as up to 100 KVA, 100 KVA-1 MVA, 1-25 MVA, and above 25 MVA. The 1-25 MVA segment is estimated to register the highest growth in the coming five years. The growing capacity addition in offshore wind projects is likely to drive the growth of this segment.  

Based on the prime mover type, the market is segmented into hydro turbines, wind turbines, steam & gas turbines, and internal combustion engines. The internal combustion engines is expected to have the highest growth during the forecast period. The extensive use of variable speed generators in aerospace and marine applications is the major factor that drives the growth of this segment.

Based on the end-user type, the market is segmented as renewable power generation, hydroelectric power generation, marine & shipbuilding, oil, gas, & mining, commercial & residential, and others. The commercial & residential segment is projected to have the highest growth in the coming five years. This growth is owing to the use of variable speed gensets for commercial & residential purposes.

In terms of regions, Asia-Pacific is expected to depict the highest growth in the variable speed generator market in the coming five years. China and India are the growth engines of the region. The market is sustained by increasing power consumption and government directives on energy efficiency. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Highlights of the report:

The report also highlights the following segments -

-        The market structure and forecasts for the coming years.

-        Drivers, restraints, opportunities, and current trends of the Variable Speed Generator Market.

-        Historical data and forecast.

-        Estimations for the forecast period 2026.

-        Developments and trends in the market.

Our market research experts have studied the Variable Speed Generator Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-chain, pricing trends, product preferences, consumer patterns & more. The findings are further validated through primary research with industry experts across the globe.

Key Players

Key players operating in the global Variable Speed Generator market are-

  • ABB Group
  • Siemens AG
  • Yanmar Co., Ltd.
  • General Electric Company
  • Wartsila
  • Cummins
  • Atlas Copco

Reasons to Invest in this Report:

-        The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period.

-        Segments include quantitative, qualitative, and value data.

-        Regional, and country level data includes the demand and supply forces along with their influence on the market.

-        The competitive landscape comprises share of key players, new developments, and strategies in the last three years.

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Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with insightful market data to aid strategic decision making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.