The variable speed generator market is growing rapidly. Variable speed generators offer attributes, such as rugged built, lightweight, cost efficiency & work efficiency, and reliably low after-sale maintenance, increasing the market demand.
According to Market Research Future (MRFR), the global variable speed generator market is estimated to grow to USD 14.15 BN by 2032, registering a 9.03% CAGR during the forecast period (2023-2032).
With the continual rise in end-use industries, such as renewable power generation and others, the market is projected to witness significant traction over the next few years.
The introduction of innovative technologies that can enhance safety & performance while declining component prices has exponentially increased the sales of variable speed generators. Conversely, non-suitable applications where these motors need a high load to start are major applications projected to impede the market growth. Nevertheless, future technological upgrades would support market growth throughout the forecast period.
Players leading the global variable speed generator market are
· Cummins Inc. (U.S.)
· Siemens AG (Germany)
· Ausonia srl (Italy)
· GENERAL ELECTRIC (U.S.)
· ABB (Switzerland)
· YANMAR CO. LTD. (Japan)
· Innovus Power Inc. (U.S.)
· Generac Power Systems Inc. (U.S.)
· HIMOINSA (Spain)
· Fischer Panda GmbH (Germany)
· WhisperPower B.V. (The Netherlands)
Global Variable Speed Generator Market – Segments
Variable Speed Generator Type Outlook
· Variable Speed-Self Excited Induction Generator
· Doubly Fed Induction Generator
· Wound Rotor Induction Generator
· Permanent Magnet Synchronous Generator
Variable Speed Generator Rating Type Outlook
· Up to 100 KVA
· 100 KVA-1 MVA
· 1 MVA-25MVA
· Above 25 MVA
Variable Speed Generator Technology Outlook
· Power Electronics-based Variable Speed Generators
· Mechanical Variable Speed Generators
Variable Speed Generator Prime Mover Outlook
· Internal Combustion Engines
· Hydro Turbines
· Steam & Gas Turbines
· Wind Turbines
Variable Speed Generator End-User Outlook
· Hydroelectric Power Generation
· Renewable Power Generation
· Oil & Gas And Mining
· Aerospace And Telecommunications
· Marine And Shipbuilding
· Commercial And Residential
Variable Speed Generator Market – Regional Analysis
The Asia Pacific region dominates the global Variable frequency generator market size. Factors such as increasing government mandates to propel energy efficiency, a slew of renewable energy sources, and modernization of hydropower plants drive the market growth. Besides, the high demand and production rate of variable speed generators substantiate the market size.
Global Variable Speed Generator Market – Competitive Analysis
Highly competitive, the variable speed generator market appears to be fragmented due to several well-established players accounting for a substantial market share. Players incorporate strategic approaches such as mergers & acquisitions, collaborations, expansions, and product & technology launches to gain substantial competitive advantage.
Industry/ Innovation/ Related News
June 07, 2021 --- The two generating units of the 132 MW Torrejon pumped-storage hydroelectric facility in Spain will be modernised, according to a deal signed by Iberdrola and Indar (Spain), a global leader in rotating electrical equipment, motors, and generators. The plant would be upgraded to operate at full power and variable speed as part of the upgrading.
Due to INDAR's high level of operational flexibility, hydropower plants are being used more flexibly and the stability of Europe's electric power networks is rising.