Variable Speed Generator Market | Covid-19 Impact Analysis

Variable Speed Generator Market Insights

Variable speed generator market is likely to witness an impressive CAGR of 9.2% during the forecast period. Rapid industrialization and urbanization, growing cognizance of renewable energy, and imposing government directives on energy efficiency are the prime factors that are underpinning the variable speed generator market globally.

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Market Share Analysis

Variable Speed Generator Market Share: By Power Rating Type 

 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.  

Variable Speed Generator Market Share: By Prime Mover Type

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

Variable Speed Generator Market Share: By End-User Type

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.

Variable Speed Generator Market Share: By Region

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.

Some of the variable speed generator manufacturers are-

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

Market Scope & Segmentation

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

Variable Speed Generator can be of various types such as variable speed self-excited induction generator, doubly-fed induction generator, wound rotor induction generator, and permanent magnet synchronous generator. The generator works based on two types and these are power electronics and mechanical variable. 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.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The variable speed generator market is segmented into the following categories. 

Variable Speed Generator Market Size, Share, Trend, & Forecast, by Generator Type:

• Variable Speed Self-Excited Induction Generator (SEIG) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

• Doubly Fed Induction Generator (DFIG) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Wound Rotor Induction Generator (WRIG) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Permanent Magnet Synchronous Generator (PMSG) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Variable Speed Generator Market Size, Share, Trend, & Forecast, by Technology Type:

• Power Electronics-Based Variable Speed Generators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Mechanical Variable Speed Generators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Variable Speed Generator Market Size, Share, Trend, & Forecast, by Power Rating Type:

• Up to 100 Kva (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• 100 Kva–1 Mva (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• 1–25 Mva (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Above 25 Mva (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Variable Speed Generator Market Size, Share, Trend, & Forecast, by Prime Mover Type:

• Hydro Turbines (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Wind Turbines (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Steam & Gas Turbines (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Internal Combustion Engines (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Variable Speed Generator Market Size, Share, Trend, & Forecast, by End-User Type:

• Renewable Power Generation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Hydroelectric Power Generation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Marine & Shipbuilding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Oil, Gas, & Mining (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Commercial & Residential (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Variable Speed Generator Market Size, Share, Trend, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the technology types by end-user type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].