Global Variable Speed Generator Market is expected to grow at a robust CAGR
Global Variable
Speed Generator Market is expected to grow owing to lack of fuel economy and
the management of variable loads throughout the forecast period.
According to
TechSci Research report, “Variable
Speed Generator Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast 2018-2028”, the Global Variable Speed Generator
Market is expected to register robust growth during the forecast period owing to
the need for improved fuel efficiency and the ability to handle variable loads.
Increasing energy demands and reliance on imported fossil fuels have paved the
way for innovation in the field of variable speed generators. This technology
enables applications with varying power requirements to benefit from a new
approach that maintains constant frequency and voltage while adjusting the
generator stator speed to match the power demand.
Variable
speed generators are being utilized more and more to incorporate renewable
energy sources, like solar and wind, into the power grid. These generators can
adapt their speed and output to align with the variable nature of renewable
energy production, guaranteeing a steady and dependable power supply. The
capacity of variable speed generators to operate efficiently across diverse
loads aids in minimizing fuel consumption and emissions, aligning with goals
for environmental sustainability.
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The Global Variable
Speed Generator Market is segmented based on type, rating type, technology,
prime mover, end-use and region. Based on type, the market is bifurcated into variable
speed-self excited induction generator, doubly fed induction generator, wound
rotor induction generator and permanent magnet synchronous generator. Based on rating
type, the market is bifurcated into up to 100 kva, 100 kva-1 mva, 1 mva-25mva
and above 25 mva. Based on technology, the market is bifurcated into power
electronics-based variable speed generators and mechanical variable speed
generators. Based on prime mover, the market is bifurcated into internal
combustion engines, hydro turbines and others. Based on end-use, the market is
bifurcated into marine and shipbuilding, commercial & residential and
others. Based on region, the market is further bifurcated into North America,
Asia-Pacific, Europe, South America, Middle East & Africa.
Based on type, Doubly Fed Induction
Generator segment is expected to dominate the market during the forecast
period. Doubly Fed Induction Generators (DFIGs) are widely utilized in wind
turbines to efficiently harness wind energy. DFIGs provide independent control
over active and reactive power, offering flexibility to meet grid requirements
and enhance grid functionality. Ongoing advancements in power electronics
technology are enhancing the efficiency and performance of DFIG systems. The
utilization of advanced power converters enables improved control of generator
operation. Furthermore, enhancements in rotor design and drive train components
contribute to increased reliability and durability of DFIG systems, thereby
reducing maintenance requirements. Integration of DFIG systems with energy
storage technologies presents opportunities for hybrid power solutions that
optimize energy management, enhance grid support, and ensure energy
reliability.
Based on prime
mover, Internal Combustion Engines segment is projected to dominate the market
throughout the forecast period. Internal
Combustion Engines (ICE) play a crucial role in the global variable speed
generator market, especially in applications where continuous and reliable
power generation is imperative. These engines can operate on various fuels,
including diesel, natural gas, and gasoline, providing versatility and
durability for a wide range of applications. ICE generators are renowned for
their rapid startup and deployment, making them well-suited for applications
that necessitate immediate power supply, such as disaster relief efforts and
temporary events. The integration of IoT technologies enables remote monitoring
and control of ICE generators, facilitating predictive maintenance and
optimizing operational performance.
Key market
players in the Global Variable Speed Generator Market are:-
- Cummins Inc.
- Siemens AG
- Ausonia SRL
- General Electric Company
- ABB Group
- Yanmar co. Ltd.
- Innovus Power Inc.
- Generac Power Systems Inc.
- Fischer Panda Gmbh
- Whisper Power B.V.
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“Asia Pacific is
expected to dominate the market during the forecast period. The industrial
growth in the region, especially in sectors such as manufacturing,
construction, and technology, necessitates dependable power generation
solutions capable of adapting to fluctuating load demands. Variable speed
generators are now integrated into smart grid systems, facilitating seamless
communication, real-time data exchange, and optimized load management.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Variable Speed Generator Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By
Type (Variable Speed-Self Excited Induction Generator, Doubly Fed Induction Generator,
Wound Rotor Induction Generator and Permanent Magnet Synchronous Generator), By
Rating Type (Up to 100 KVA, 100 KVA-1 MVA, 1 MVA-25MVA and Above 25 MVA), By
Technology (Power Electronics-based Variable Speed Generators and Mechanical
Variable Speed Generators), By Prime Mover (Internal Combustion Engines, Hydro
Turbines and Others), By End-Use (Marine and Shipbuilding, Commercial &
Residential and Others), By Region, Competition,” has evaluated the
future growth potential of Global Variable Speed Generator Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Variable Speed Generator Market.
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