Market Growth Factors:
The variable speed generator market is primarily driven by increasing investments in aerospace, marine, and shipbuilding industries. Also support from government for the use of renewable energy sources to generate power will the variable speed generator market in upcoming years. As number of industrialization as well as urbanization is rising in developing economies, the need of efficient energy sources also increasing which boost the variable speed generator market. The main restraint for variable speed generator market is spending high amount on distribution generation. Booming growth in HVAC systems will create opportunity for variable speed generators as, unlikely conventional fan motors these generators runs on different speeds which controls heated or cooled air flow to home. Modernization and up gradation of out-dated power generators creates great opportunity for this market. The major challenge is decreased investments in oil & gas sector.
The variable speed generator market is segmented on the basis of technology type as; Power electronics based variable speed generators and mechanical variable speed generators. As well as these generators differentiated according to the power ratings from few kilovolt amps to megavolt amps. Further classification is based on turbines used as, hydro turbines, wind turbines, steam & gas turbines and internal combustion engines. This classification is followed by end users such as, renewable power generation, hydroelectric power generation, marine & shipbuilding, oil & gas, mining, and commercial & residential.
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Geographically, variable speed generator market is analysed in regions like, North America, Europe, Asia Pacific, Middle East & Africa and LAMEA. Asia Pacific is expected to held largest share for variable speed generator market in upcoming years. As industrialization & urbanization is gradually increasing in such developing economies required large power sources. However, increasing use of renewable energy for power generation in European countries helps to grow market which is followed by North America.
The major key players for variable speed generator market are ABB, Siemens, Yanmar, GE, Whisperpower, Rolls Royce, Wartsila, Innovus Power, Cummins, Ausonia, Generac, Atlas Copco, and Fischer Panda. These key players are trying to grow market in developing economies and adopting new technologies to increase their market share in developed countries.
- On February, 2018, Fischer Panda UK Launches New Panda PMS 19i Variable Speed Generator. Ideal for mid to large sail or motor boats, as well as super yachts with varied power demands, the innovative systems offer lower fuel consumption, quieter operation, longer service intervals, extended engine life, space and weight savings and reduced exhaust emissions.
- Yanmar to debut new variable speed genset engines at Middle East Electricity show. They decided to develop a range of engines fine-tuned for variable speed generators, which can significantly reduce fuel cost per kW.
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