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Global Variable Speed Generator Market Share, Trends, Analysis, Growth, Forecast: By Generator Type: Variable Speed Self Excited Induction Generator, Wound Rotor Induction Generator, Others; By Technology Type; By Prime Mover Type; By End Use; Regional Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028

Global Variable Speed Generator Market Outlook

The global variable speed generator market would likely grow at a CAGR of 6.2% during 2023-2028. Asia, North America and Europe are likely to be key markets. 

 

Global Market Likely to be Driven by Need for Solutions that Enable Fuel Savings and Offer Superior Performance

In FC concept, the entire power generated passes through a full-size converter which offers full variable speed operation with improved grid code compliance. Benefits include full speed range, advanced grid compliance, and separation of drive train from grid disturbances.

 

Variable Speed Diesel Generators (VSDGs) enable diesel engine operation at optimal speed according to the electrical load but need extra electrical equipment and regulation to maintain power output to electrical standards. 

 

Advantages Afforded by Variable Speed Generators Likely to Boost Market Growth

Economic necessity has led commercial ship operators to focus on exploring cost-optimized solutions to run their vessels. Solution providers such as Rolls-Royce have been seeking ways to deliver appropriate technologies to fulfil operators’ particular needs. Recent years have witnessed greater interest in variable speed units as drivers of particular commercial vessels. 

 

Variable speed technology enables regulation and adjustment of engine speed in accordance with connected load, making it more cost-effective to operate. As compared to conventional, constant speed units, variable units provide many advantages, including up to fifteen percent reduction in fuel consumption; up to twenty percent increase in time between overhauls; lesser noise emissions; and more power density with less installation space. Variable speed units are especially useful in running modes with a high proportion of low loads. Such advantages are expected to drive the global variable speed generator market.  

 

Leading Companies Offer Sophisticated Solutions

Today, variable speed hybrid generator sets are available that decrease fuel consumption by forty percent and prolong maintenance periods up to 1000 hours. For example, HIMOINSA offers hybrid generator sets HPS 1500DCV and HPS 3000DCV with a variable speed engine that ensures fuel consumption savings of forty percent as compared to a standard generator set and twenty percent as compared to other fixed speed, hybrid gensets that are available on the market.

 

Atlas Copco offers QAS 60/35 VSG Variable Speed Generator, which offers operational savings, and better performance and reliability. It removes inherent risks linked with low-load generator operation, like bore polishing, cylinder glazing, high oil consumption, heavy carbon build-up, fuel waste, and low combustion temperatures. Such solutions are expected to boost the global variable speed generator market.

 

In 2022, Volvo Penta launched a new series of variable-speed generator sets for marine vessels. The generator sets were intended to serve as a ‘key enabler’ for electric propulsion for marine ships.

 

Market Segmentation

By generator type, the market is divided into:

  • Variable Speed Self Excited Induction Generator
  • Permanent Magnet Synchronous Generator
  • Wound Rotor Induction Generator
  • Doubly Fed Induction Generator

 

By technology type, the global variable speed generator market is classified into:

  • Mechanical
  • Power Electronics-Based

 

By prime mover type, the market is divided into:

  • Hydro Turbines
  • Wind Turbines
  • Steam and Gas Turbine
  • Internal Combustion Engine

 

By end use, the market is classified into:

  • Renewable Power Generation
  • Marine and Shipbuilding
  • Oil, Gas, and Mining
  • Hydroelectric Power Generation
  • Others

 

By region, the market is segmented into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Key Industry Players in the Market

The report offers an extensive assessment of major players in the global variable speed generator market; it evaluates their capability, observes latest occurrences such as mergers and acquisitions, capacity expansions, and plant turnarounds:

 

  • ABB Ltd
  • General Electric Company
  • Siemens Energy
  • Wärtsilä Corporation
  • Innovus Power, Inc.
  • Cummins Inc.
  • Atlas Copco
  • Yanmar Holdings Co., Ltd
  • Whisper Power Bv
  • Fischer Panda GmbH
  • Others

 

Using SWOT analysis and Porter’s Five Forces model, the EMR report offers deep insights into the industry.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Generator Type
  • Technology Type
  • Prime Mover Type
  • End Use
  • Region
Breakup by Generator Type
  • Variable Speed Self Excited Induction Generator
  • Wound Rotor Induction Generator
  • Permanent Magnet Synchronous Generator
  • Doubly Fed Induction Generator
Breakup by Technology Type
  • Mechanical
  • Power Electronics-Based
Breakup by Prime Mover Type
  • Hydro Turbines
  • Wind Turbines
  • Steam and Gas Turbine
  • Internal Combustion Engine
Breakup by End Use
  • Renewable Power Generation
  • Marine and Shipbuilding
  • Oil, Gas, and Mining
  • Hydroelectric Power Generation
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • ABB Ltd
  • General Electric Company
  • Siemens Energy
  • Wärtsilä Corporation
  • Innovus Power, Inc.
  • Cummins Inc.
  • Atlas Copco
  • Yanmar Holdings Co., Ltd
  • Whisper Power Bv
  • Fischer Panda GmbH
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Variable Speed Generator Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Variable Speed Generator Historical Market (2018-2022) 
    8.3    Global Variable Speed Generator Market Forecast (2023-2028)
    8.4    Global Variable Speed Generator Market by Generator Type
        8.4.1    Variable Speed Self Excited Induction Generator
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Wound Rotor Induction Generator
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Permanent Magnet Synchronous Generator
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Doubly Fed Induction Generator
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2022)
            8.4.4.3    Forecast Trend (2023-2028)
    8.5    Global Variable Speed Generator Market by Technology Type
        8.5.1    Mechanical
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Power Electronics-Based
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
    8.6    Global Variable Speed Generator Market by Prime Mover Type
        8.6.1    Hydro Turbines
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Wind Turbines 
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Steam and Gas Turbine
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
        8.6.4    Internal Combustion Engine
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2018-2022)
            8.6.4.3    Forecast Trend (2023-2028)
    8.7    Global Variable Speed Generator Market by End Use
        8.7.1    Renewable Power Generation
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Marine and Shipbuilding
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Oil, Gas, and Mining
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022)
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Hydroelectric Power Generation
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022)
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Others
    8.8    Global Variable Speed Generator Market by Region
        8.8.1    North America
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2022) 
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Europe
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022) 
            8.8.2.3    Forecast Trend (2023-2028)
        8.8.3    Asia Pacific
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2022) 
            8.8.3.3    Forecast Trend (2023-2028)
        8.8.4    Latin America
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2018-2022) 
            8.8.4.3    Forecast Trend (2023-2028)
        8.8.5    Middle East and Africa
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2018-2022) 
            8.8.5.3    Forecast Trend (2023-2028)
9    North America Variable Speed Generator Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Variable Speed Generator Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Variable Speed Generator Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Variable Speed Generator Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Variable Speed Generator Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    ABB Ltd
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    General Electric Company
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Siemens Energy
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Wärtsilä Corporation
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Innovus Power, Inc.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Cummins Inc.
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Atlas Copco
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Yanmar Holdings Co., Ltd
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Whisper Power Bv
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Fischer Panda GmbH
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Variable Speed Generator Market: Key Industry Highlights, 2018 and 2028
2.    Global Variable Speed Generator Historical Market: Breakup by Generator Type (USD Million), 2018-2022
3.    Global Variable Speed Generator Market Forecast: Breakup by Generator Type (USD Million), 2023-2028
4.    Global Variable Speed Generator Historical Market: Breakup by Technology Type (USD Million), 2018-2022
5.    Global Variable Speed Generator Market Forecast: Breakup by Technology Type (USD Million), 2023-2028
6.    Global Variable Speed Generator Historical Market: Breakup by Power Rating (USD Million), 2018-2022
7.    Global Variable Speed Generator Market Forecast: Breakup by Power Rating (USD Million), 2023-2028
8.    Global Variable Speed Generator Historical Market: Breakup by Prime Mover Type (USD Million), 2018-2022
9.    Global Variable Speed Generator Market Forecast: Breakup by Prime Mover Type (USD Million), 2023-2028
10.    Global Variable Speed Generator Historical Market: Breakup by End Use (USD Million), 2018-2022
11.    Global Variable Speed Generator Market Forecast: Breakup by End Use (USD Million), 2023-2028
12.    Global Variable Speed Generator Historical Market: Breakup by Region (USD Million), 2018-2022
13.    Global Variable Speed Generator Market Forecast: Breakup by Region (USD Million), 2023-2028
14.    North America Variable Speed Generator Historical Market: Breakup by Country (USD Million), 2018-2022
15.    North America Variable Speed Generator Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Europe Variable Speed Generator Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Europe Variable Speed Generator Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Asia Pacific Variable Speed Generator Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Asia Pacific Variable Speed Generator Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Latin America Variable Speed Generator Historical Market: Breakup by Country (USD Million), 2018-2022
21.    Latin America Variable Speed Generator Market Forecast: Breakup by Country (USD Million), 2023-2028
22.    Middle East and Africa Variable Speed Generator Historical Market: Breakup by Country (USD Million), 2018-2022
23.    Middle East and Africa Variable Speed Generator Market Forecast: Breakup by Country (USD Million), 2023-2028
24.    Global Variable Speed Generator Market Structure

Key Questions Answered in the Report

The market is estimated to grow at a CAGR of 6.2% in the forecast period of 2023 and 2028.

The major drivers of the market include the increasing demand for maritime vessels to facilitate international trade, thriving oil and gas industry, and growing expansion of the power generation sector.

The increasing investments towards enhancing naval capabilities and rapid transition towards using engine components with lower noise levels, are the key trends in the market.

Variable speed self excited induction generator, wound rotor induction generator, permanent magnet synchronous generator, and doubly fed induction generator are the different generator types of variables speed generators.

Mechanical and power electronics-based are the various technology types for variables speed generators.

The major players in the variable speed generator market are ABB Ltd, General Electric Company, Siemens Energy, Wärtsilä Corporation, Innovus Power, Inc., Cummins Inc., Atlas Copco, Yanmar Holdings Co., Ltd, Whisper Power Bv, and Fischer Panda GmbH, among others.

Speed of the variable speed generator is controlled by applying braking torque.

Variable speed generators run at a constant speed which is usually 3600 rpm.

Underloading can cause cylinder clogging which can bring the cylinder to a halt.

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