Variable Speed Generator Market

Market Leader - Variable Speed Generator Market

The global variable speed generator market is projected to reach a market size of USD 8.36 Billion by 2022, growing at a CAGR of 7.63%. In 2017, the market in Asia Pacific is estimated to be the largest for variable speed generators, followed by North America. This trend is expected to continue till 2022. The growth of variable speed generator market is driven by the rising alternative energy programs, increasing government mandates over energy efficiency, and growing industrialization & urbanization.

The variable speed generator market is dominated by a few major players that have a wide regional presence and are established brand names. The leading players in the market include ABB (Switzerland), GE (US), Siemens (Germany), Wartsila (Finland), Cummins (US), and Rolls Royce (UK).

The major strategies adopted by leading market players include contracts & agreements, new product launches, expansions and investments, mergers & acquisitions, and joint ventures and collaborations. Contracts & agreements was the most commonly adopted strategy from January 2014 to December 2017. New product development was the second most widely followed strategy during the same period. Two of the leading market players are highlighted in the section below.

ABB is one of the leading technology companies providing electrification products, robotics and motion, industrial automation, and power grids serving customers in utilities, industry, and transport and infrastructure sectors globally. ABB offers variable speed generators under the discrete automation and motion division. The products and services under the discrete automation and motion division include robotics business, motors and generators business, drives and controls business, and power conversion business. The motors and generators business provides a wide range of electrical motors, generators, and mechanical power transmission products. This business unit manufactures synchronous motors, low- and high-voltage induction motors, and monitoring solutions for low voltage motors. The company also provides its Permanent Magnet (PM) technology, Doubly-Fed (DF), and Full Converter (FC) concepts. The discrete automation and motion division had approximately 29,100 employees as of December 31, 2016, and generated a revenue of USD 8.7 billion in 2016. It has a presence in more than 100 countries, with major manufacturing facilities in China, India, and Russia. In February 2017, ABB received a contract from Eastern Shipbuilding Group, Inc. to supply 1,700 kW variable speed shaft generator for DNV classed factory processor fishing Trawler F/T Araho for O’Hara Corporation.

Yanmar is one of the leaders in manufacturing and designing diesel engines. These engines are used in various applications such as seagoing vessels, construction equipment, agricultural equipment, and generator sets. The company operates its business through seven business segments, namely, industrial engines, large engines, agricultural operations business, marine business, energy system business, construction machinery business, and component business. The company offers variable speed generators under the marine and energy system business segment. The products under the marine business segment include marine propulsion and auxiliary diesel engines for ocean-going vessels, land-use diesel engines, gas engines, and gas turbines. In 2016, the revenue for the energy system business segment was USD 0.65 billion. In March 2015, the company introduced two hybrid variable speed generator sets HPS 1500DCV and HPS 3000DCV at the Middle East Electricity 2015. Both the hybrid gensets offer fuel savings of around 40% and extend maintenance periods by up to 1,000 hours, compared to conventional units.

Related 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

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Variable Speed Generator Market Size,  Share & Growth Report
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