HOME Top Market Reports Variable Speed Generator Market by Type (Permanent Magnet, Doubly Fed Induction, Self-Excitation Induction, Wound Rotor Induction), Prime Mover (Wind, Hydro, Steam & Gas Turbine, Ic Engine), Technology, Power, End-User, Region – Global Forecast to 2022

Variable Speed Generator Market by Type (Permanent Magnet, Doubly Fed Induction, Self-Excitation Induction, Wound Rotor Induction), Prime Mover (Wind, Hydro, Steam & Gas Turbine, Ic Engine), Technology, Power, End-User, Region – Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: February 2018
Report Code: EP 5962

 

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The global variable speed generator market was valued at USD 5.24 Billion in 2016 and is projected to reach USD 8.36 Billion by 2022, at a CAGR of 7.63% during the forecast period. The years considered for the study are as follows:

  • Base Year: 2016
  • Estimated Year: 2017
  • Projected Year: 2022
  • Forecast Period: 2017 - 2022

The base year considered for company profiles is 2016. Whenever information was unavailable for the base year, the prior year has been considered.

Objectives of the Study

  • To define and segment the variable speed generator market with respect to generator type, technology type, prime mover, power rating, end user, and region
  • To provide detailed information on the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the variable speed generator market with respect to individual growth trends, future expansions, and contributions to the market
  • To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
  • To forecast the growth of the variable speed generator market with respect to the major regions (Asia Pacific, Europe, North America, South America, and the Middle East & Africa)
  • To strategically profile key players and comprehensively analyze their market rankings and core competencies
  • To analyze competitive developments, such as new product launches, mergers & acquisitions, expansions and investments, and contracts & agreements in the variable speed generator market

Research Methodology

This research study involved the use of extensive secondary sources, directories, journals on power generation technologies, and other related rental markets; newsletters and databases such as D&B, Bloomberg, Businessweek, and Factiva, among others, to identify and collect information useful for a technical, market-oriented, and commercial study of the global variable speed generator market. The primary sources include several industry experts from the core and related industries, vendors, preferred suppliers, technology developers, alliances, and organizations related to all the segments of this industry’s value chain. The research methodology has been explained below.

  • Study of annual revenues and market developments of the major players providing variable speed generators
  • Assessment of future trends and growth of end users
  • Assessment of the variable speed generator market with respect to the prime mover and power rating based on various end users

After arriving at the overall market size, the total market was split into several segments and subsegments. The figure given below illustrates the breakdown of primary interviews conducted during the research study based on company type, designation, and region.

Variable Speed Generator Market

To know about the assumptions considered for the study, download the pdf brochure

Major players operating in the market include ABB (Switzerland), GE (US), Siemens (Germany), Wartsila (Finland), Cummins (US), and Rolls Royce (UK).

Target Audience:

  • Banks, venture capitalists, financial institutions, and other investors
  • Companies related to electric power generation
  • Energy associations
  • Environment associations
  • Energy efficiency consultants
  • Government and industry associations
  • Government and research organizations
  • Manufacturing industry
  • Power plant project developers
  • State and national regulatory authorities

Scope of the Report:

  • By Generator Type
    •  Variable Speed-Self Excited Induction Generator (SEIG)
    • Doubly Fed Induction Generator (DFIG)
    • Wound Rotor Induction Generator (WRIG)
    • Permanent Magnet Synchronous Generator (PMSG)
  • By Technology Type
    • Power Electronics Based Variable Speed Generator
    • Mechanical Variable Speed Generator
  • By Power Rating
    • Up To 100 kVA
    • 100 kVA–1 MVA
    • 1–25 MVA
    • Above 25 MVA
  • By Prime Mover
    • Wind Turbine
    • Hydro Turbine
    • Steam and Gas Turbine
    • Internal Combustion Engine
  • By End User
    • Renewable Power Generation
    • Hydroelectric Power Generation
    • Marine and Shipbuilding
    • Oil & Gas and Mining
    • Commercial and Residential
    • Others (Defense, Aerospace, Co-Generation, Telecommunications, and Industrial Standby Generators)
  • By Region
    • Asia Pacific
    • North America
    • Europe
    • Middle East & Africa
    • South America

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

  • More companies can be profiled along with their competitive situation in each region
  • Additional country markets for regions such as the Asia Pacific and Europe
  • Cross segmentation of markets


Table of Contents

1 Introduction (Page No. - 13)
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Regional Scope
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Limitations
    2.5 Research Assumptions

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 31)
    4.1 Attractive Opportunities in the Variable Speed Generator Market
    4.2 Asia Pacific Variable Speed Generator Market Size, By Plant Type & By Country
    4.3 Variable Speed Generator Market, By Country
    4.4 Variable Speed Generator Market, By Power Rating
    4.5 Variable Speed Generator Market, By Generator

5 Market Overview (Page No. - 35)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growing Share of Renewable Power Generation and Increasing Government Mandates
                    5.2.1.2 Rising Need for Energy Efficiency
                    5.2.1.3 Increasing Urbanization and Industrialization
           5.2.2 Restraints
                    5.2.2.1 Reluctance to Spend on Distributed Generation
           5.2.3 Opportunities
                    5.2.3.1 Robust Growth in Hvac Systems
                    5.2.3.2 Renovation, Modernization and Uprating of Outdated Power Infrastructure
                    5.2.3.3 Applications in Hybrid Energy Systems
           5.2.4 Challenges
                    5.2.4.1 Decreasing Greenfield Investments in Mining and Oil & Gas Industry

6 Variable Speed Generator Market, By Generator Type (Page No. - 43)
    6.1 Introduction
    6.2 Variable Speed Self Excited Induction Generator (Seig)
    6.3 Doubly Fed Induction Generator (Dfig)
    6.4 Wound Rotor Induction Generator (Wrig)
    6.5 Permanent Magnet Synchronous Generator (Pmsg)

7 Variable Speed Generator Market, By Technology Type (Page No. - 48)
    7.1 Introduction
    7.2 Power Electronics-Based Variable Speed Generators
    7.3 Mechanical Variable Speed Generators

8 Variable Speed Generator Market, By Power Rating (Page No. - 52)
    8.1 Introduction
    8.2 Up to 100 Kva
    8.3 100 Kva–1 Mva
    8.4 1–25 Mva
    8.5 Above 25 Mva

9 Variable Speed Generator Market, By Prime Mover (Page No. - 57)
    9.1 Introduction
    9.2 Hydro Turbines
    9.3 Wind Turbines
    9.4 Steam & Gas Turbines
    9.5 Internal Combustion Engines

10 Variable Speed Generator Market, By End-User (Page No. - 63)
     10.1 Introduction
     10.2 Renewable Power Generation
     10.3 Hydroelectric Power Generation
     10.4 Marine & Shipbuilding
     10.5 Oil, Gas, & Mining
     10.6 Commercial & Residential
     10.7 Others

11 Variable Speed Generator Market, By Region (Page No. - 71)
     11.1 Introduction
     11.2 North America
             11.2.1 US
             11.2.2 Canada
             11.2.3 Mexico
     11.3 Asia Pacific
             11.3.1 China
             11.3.2 Japan
             11.3.3 India
             11.3.4 South Korea
             11.3.5 Australia
             11.3.6 Rest of Asia Pacific
     11.4 Europe
             11.4.1 Germany
             11.4.2 UK
             11.4.3 France
             11.4.4 Spain
             11.4.5 Sweden
             11.4.6 Norway
             11.4.7 Russia
             11.4.8 Rest of Europe
     11.5 South America
             11.5.1 Brazil
             11.5.2 Argentina
             11.5.3 Chile
             11.5.4 Rest of South America
     11.6 Middle East & Africa
             11.6.1 Saudi Arabia
             11.6.2 UAE
             11.6.3 South Africa
             11.6.4 Rest of the Middle East & Africa

12 Competitive Landscape (Page No. - 107)
     12.1 Overview
     12.2 Ranking of Players & Industry Concentration, 2016
     12.3 Competitive Scenario
             12.3.1 Contracts & Agreements
             12.3.2 New Product Launches
             12.3.3 Mergers & Acquisitions
             12.3.4 Partnerships

13 Company Profiles (Page No. - 113)
     13.1 Benchmarking
     13.2 ABB
     13.3 Siemens
     13.4 Yanmar
     13.5 GE
     13.6 Whisperpower
     13.7 Rolls Royce
     13.8 Wartsila
     13.9 Innovus Power
     13.10 Cummins
     13.11 Ausonia
     13.12 Generac
     13.13 Atlas Copco
     13.14 Fischer Panda

14 Appendix (Page No. - 146)
     14.1 Insights of Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Introducing RT: Real-Time Market Intelligence
     14.5 Available Customizations
     14.6 Related Reports
     14.7 Author Details


List of Tables (69 Tables)

Table 1 Variable Speed Generator Market Snapshot
Table 2 Comparison Between Constant Speed Generators & Variable Speed Generators
Table 3 Global Weighted Average Renewable Investment Costs, 2015 & 2025
Table 4 Urban Population, Proportion Urban, & Average Annual Rate of Change of the Proportion Urban, By Region, 1990, 2014, 2050
Table 5 Variable Speed Generator Market Size, By Generator Type, 2015–2022 (USD Million)
Table 6 Seig: Market Size, By Region, 2015–2022 (USD Million)
Table 7 Dfig: Market Size, By Region, 2015–2022 (USD Million)
Table 8 Wrig: Market Size, By Region, 2015–2022 (USD Million)
Table 9 Pmsg: Market Size, By Region, 2015–2022 (USD Million)
Table 10 Variable Speed Generator Market Size, By Generator Type, 2015–2022 (USD Billion)
Table 11 Power Electronics-Based Variable Speed Generators Market Size, By Region, 2015–2022 (USD Million)
Table 12 Mechanical Variable Speed Generators Market Size, By Region, 2015–2022 (USD Million)
Table 13 Variable Speed Generator Market Size, By Power Rating, 2015–2022 (USD Billion)
Table 14 Up to 100 Kva: Market Size, By Region, 2015–2022 (USD Million)
Table 15 100 Kva–1 Mva: Market Size, By Region, 2015–2022 (USD Million)
Table 16 1–25 Mva: Market Size, By Region, 2015–2022 (USD Million)
Table 17 Above 25 Mva: Market Size, By Region, 2015–2022 (USD Million)
Table 18 Variable Speed Generator Market Size, By Prime Mover, 2015–2022 (USD Million)
Table 19 Hydro Turbines: Market Size, By Region, 2015–2022 (USD Million)
Table 20 Wind Turbines: Market Size, By Region, 2015–2022 (USD Million)
Table 21 Steam & Gas Turbines: Variable Speed Generator Market Size, By Region, 2015–2022 (USD Million)
Table 22 Internal Combustion Engines: Market Size, By Region, 2015–2022 (USD Million)
Table 23 Internal Combustion Engines: Market Size, By Power Rating, 2015–2022 (USD Million)
Table 24 Internal Combustion Engines: Market Size, By End-User, 2015–2022 (USD Million)
Table 25 Variable Speed Generator Market Size, By End-User, 2015–2022 (USD Million)
Table 26 Renewable Power Generation: Market Size, By Region, 2015–2022 (USD Million)
Table 27 Hydroelectric Power Generation: Market Size, By Region, 2015–2022 (USD Million)
Table 28 Marine & Shipbuilding: Market Size, By Region, 2015–2022 (USD Million)
Table 29 Oil, Gas, & Mining: Market Size, By Region, 2015–2022 (USD Million)
Table 30 Commercial & Residential: Market Size, By Region, 2015–2022 (USD Million)
Table 31 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 32 Variable Speed Generator Market Size, By Region, 2015–2022 (USD Million)
Table 33 North America: Market Size, By Country, 2015–2022 (USD Million)
Table 34 North America: Internal Combustion Engine-Based Market Size, By Country, 2015–2022 (USD Million)
Table 35 North America: Internal Combustion Engine-Based Market Size, By End-User, 2015–2022 (USD Million)
Table 36 US: Variable Speed Generator Market Size, By End-User, 2015–2022 (USD Million)
Table 37 Canada: Market Size, By End-User, 2015–2022 (USD Million)
Table 38 Mexico: Market Size, By End User, 2015–2022 (USD Million)
Table 39 Asia Pacific: Market Size, By Country, 2015–2022 (USD Million)
Table 40 Asia Pacific: Internal Combustion Engine-Based Market Size, By Country, 2015–2022 (USD Million)
Table 41 Asia Pacific: Internal Combustion Engine-Based Market Size, By End-User, 2015–2022 (USD Million)
Table 42 China: Market Size, By End-User, 2015–2022 (USD Million)
Table 43 Japan: Market Size, By End-User, 2015–2022 (USD Million)
Table 44 India: Market Size, By End-User, 2015–2022 (USD Million)
Table 45 South Korea: Market Size, By End-User, 2015–2022 (USD Million)
Table 46 Australia: Market Size, By End-User, 2015–2022 (USD Million)
Table 47 Rest of Asia Pacific: Market Size, By End-User, 2015–2022 (USD Million)
Table 48 Europe: Market Size, By Country, 2015–2022 (USD Million)
Table 49 Europe: Internal Combustion Engine-Based Market Size, By Country, 2015–2022 (USD Million)
Table 50 Europe: Internal Combustion Engine-Based Market Size, By End-User, 2015–2022 (USD Million)
Table 51 Germany: Market Size, By End-User, 2015–2022 (USD Million)
Table 52 UK: Market Size, By End-User, 2015–2022 (USD Million)
Table 53 France: Market Size, By End-User, 2015–2022 (USD Million)
Table 54 Spain: Market Size, By End-User, 2015–2022 (USD Million)
Table 55 Sweden: Market Size, By End-User, 2015–2022 (USD Million)
Table 56 Norway: Market Size, By End-User, 2015–2022 (USD Million)
Table 57 Russia: Market Size, By End-User, 2015–2022 (USD Million)
Table 58 Rest of Europe: Market Size, By End-User, 2015–2022 (USD Million)
Table 59 South America: Market Size, By Country, 2015–2022 (USD Million)
Table 60 Brazil: Market Size, By End-User, 2015–2022 (USD Million)
Table 61 Argentina: Market Size, By End-User, 2015–2022 (USD Million)
Table 62 Chile: Market Size, By End-User, 2015–2022 (USD Million)
Table 63 Rest of South America: Market Size, By End-User, 2015–2022 (USD Million)
Table 64 Middle East & Africa: Market Size, By Country, 2015–2022 (USD Million)
Table 65 Saudi Arabia: Market Size, By End-User, 2015–2022 (USD Million)
Table 66 UAE: Market Size, By End-User, 2015–2022 (USD Million)
Table 67 South Africa: Market Size, By End-User, 2015–2022 (USD Million)
Table 68 Rest of the Middle East & Africa: Market Size, By End-User, 2015–2022 (USD Million)
Table 69 Market Developments Between 2014 & 2017


List of Figures (36 Figures)

Figure 1 Research Design
Figure 2 Bottom-Up Approach
Figure 3 Top-Down Approach
Figure 4 Asia Pacific is Estimated to Hold the Largest Share of the Variable Speed Generator Market in 2017
Figure 5 THE Renewable Power Generation Segment is Expected to Dominate the Market During the Forecast Period
Figure 6 THE Internal Combustion Engine Segment is Expected to Grow at the Highest Cagr During the Forecast Period
Figure 7 THE 100 Kva–1mva Segment is Expected to Dominate the Variable Speed Generator Market During the Forecast Period
Figure 8 THE Permanent Magnet Synchronous Generator is Expected to Dominate the Variable Speed Generator Market During the Forecast Period
Figure 9 THE Power Electronics-Based Variable Speed Generator is Expected to Dominate the Market During the Forecast Period
Figure 10 Rise in Alternative Energy Programs is Expected to Drive the Variable Speed Generator Market During the Forecast Period
Figure 11 THE Renewable Power Generation Segment & the Chinese Market Held the Maximum Share of the Variable Speed Generator Market in Asia 32
Figure 12 THE US Held the Largest Share in 2016
Figure 13 THE 100 Kva–1 Mva Segment is Expected to Have the Largest Market Share By 2022
Figure 14 THE Permanent Magnet Synchronous Generator is Expected to Lead the Variable Speed Generator Market During THE Forecast Period
Figure 15 Variable Speed Generators: Drivers, Restraints, Opportunities, & Challenges
Figure 16 Residential & Commercial Buildings Total Energy End-Use (2015)
Figure 17 The Permanent Magnet Synchronous Generators Segment is Expected to Hold the Largest Market Share By 2022
Figure 18 THE Power Electronics-Based Variable Speed Generators Segment is Expected to Hold the Largest Market Share By 2022
Figure 19 THE 100 Kva–1 Mva Variable Speed Generator Segment is Expected to Hold the Largest Market Share By 2022
Figure 20 THE Wind Turbines Segment is Expected to Hold the Largest Market Share By 2022
Figure 21 Renewable Power Generation is Expected to Hold the Largest Market Share By 2022
Figure 22 Regional Snapshot: the Market in Europe is Expected to Grow at the Highest Cagr During the Forecast Period
Figure 23 Variable Speed Generator Market Share, By Region, 2016
Figure 24 Asia Pacific: Market Snapshot
Figure 25 Europe: Market Snapshot
Figure 26 Key Developments in the Variable Speed Generator Market, 2014–2017
Figure 27 General Electric Led the Variable Speed Generator Market in 2016
Figure 28 ABB: Company Snapshot
Figure 29 Siemens: Company Snapshot
Figure 30 Yanmar: Company Snapshot
Figure 31 GE: Company Snapshot
Figure 32 Rolls Royce: Company Snapshot
Figure 33 Wartsila: Company Snapshot
Figure 34 Cummins: Company Snapshot
Figure 35 Generac: Company Snapshot
Figure 36 Atlas Copco: Company Snapshot

The global variable speed generator market is projected to reach USD 8.36 Billion by 2022, growing at a CAGR of 7.63%, from an estimated USD 5.79 Billion in 2017. This growth can be attributed to the increasing emphasis on alternative energy production across the globe, increasing government mandates over energy efficiency, and growing industrialization and urbanization.

On the basis of end user, the variable speed generator market is segmented into renewable power generation, hydroelectric power generation, marine and shipbuilding, oil & gas and mining, commercial and residential, defense, aerospace, co-generation, telecommunications, and industrial standby power. The commercial and residential segment is expected to grow at the highest CAGR during the forecast period. This segment is primarily driven by the growing demand for efficient variable speed standby gensets for commercial and residential applications in Europe, Asia Pacific, and North America.

The variable speed generator market, by prime mover, is segmented into wind turbine, hydro turbine, gas and steam turbine, and internal combustion (IC) engine. The IC engine segment is expected to grow at the highest CAGR during the forecast period. The increasing implementation of variable speed generators for aerospace and marine applications is expected to drive the market.

The variable speed generator market, by power rating, is segmented 100 kVA, 100 kVA–1 MVA, 1 MVA–25 MVA, and above 25 MVA. The 1 MVA–25 MVA segment is expected to grow at the highest CAGR from 2017 to 2022. The increasing capacity addition in offshore wind projects and commercialization of high power rated permanent magnet synchronous generators will create new revenue pockets for this segment.

Variable Speed Generator Market

In this report, the variable speed generator market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Asia Pacific is estimated to grow at the highest CAGR during the forecast period. Factors such as increased power consumption; government mandates on energy efficiency; rising influx of renewable sources in the energy mix; and renovation, modernization, and upgradation of aging hydropower plants are to drive the variable speed generator market in the region.

High capital investment and limited re-investment could act as restraints for the variable speed generator market. The leading players in the market include ABB (Switzerland), GE (US), Siemens (Germany), Wartsila (Finland), Cummins (US), and Rolls Royce (UK). Contracts & agreements was the most commonly adopted strategy by the top players. This was followed by new product launches, expansions and investments, and mergers & acquisitions.

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