The variable speed generator market is projected to grow at a CAGR of 7.63%, from 2017 to 2022
The global variable speed generator market Provides the current trends, swot analysis, competitive landscape, type, Prime Mover, Technology, Power, size is estimated at USD 5.79 billion in 2017 and variable speed generator market is projected to grow at a CAGR of 7.63% to reach USD 8.36 billion by 2022.
Variable Speed Generator market spread across 154 pages, profiling 14 companies and supported with 69 tables and 36 figures Download sample @ www.rnrmarketresearch.com/contacts…ple?rname=1340186
Asia Pacific is expected to account for the largest market share of the global variable speed generator market in 2017. This trend is projected to continue till 2022.The increasing urbanization and industrialization in this region is leading to the higher demand for power.
To cater to this demand and meet the energy efficiency mandates, APAC countries are focusing on power generation through renewable energy sources.
Offshore wind forms an integral part of the renewable-based power generation. Therefore, countries such as China and Japan are moving toward offshore wind energy.
Countries such as South Korea, Taiwan, and Japan are looking for alternative sources of energy to diversify their energy mixes to reduce CO2 emissions. Technological advances and clean energy consumption would further propel wind power deployment and open up opportunities in the emerging APAC markets.
Moreover, favorable supportive schemes, investments in grid infrastructure to maximize power generation from wind, and foreign direct investment would attract investors to the wind power industry.
1 Ranking of Players & Industry Concentration, 2016
2 Competitive Scenario
3 Contracts & Agreements
4 New Product Launches
5 Mergers & Acquisitions
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This growth is primarily due to the increasing emphasis on alternative energy production, increasing government mandates over energy efficiency, and growing industrialization and urbanization. Although some cost bearing constraints in the installation of variable speed generators are being observed, still emerging economies are expected to create better opportunities for the variable speed generator market for hybrid energy systems and HVAC systems.
Decreasing green field investments is expected to be a major challenge for the growth of this market.
Useful Of this Key Audience follow:
- 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
The overall Variable Speed Generator market was dominated by Prominent players in the market include ABB (Switzerland), GE (US), Siemens (Germany), Wartsila (Finland), Cummins (US), and Rolls Royce (UK).
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At the Asia Clean Energy Summit in Singapore, in 2017, it was noted that South-East Asia is a suitable market for renewable energy development as it offers a favorable climate for solar and wind energy generation. According to the International Energy Agency, energy demand in South-East Asia has grown by 60% over the last 15 years.
Hence, increase in the consumption of energy followed by an increase in investments in renewable energy, rapid growth of data centers, and growth of IT hubs and commercial sectors such as malls and hospitals are driving the variable speed generator market in Asia Pacific.
Key Point from Table of Content
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
Above 25 MVA
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