Variable Speed Generator Market is expected to grow at a CAGR of 9.2% during the next five years, according to a newly added report by Stratview Research. Rapid industrialization and urbanization, growing cognizance of renewable energy, and imposing government directives on energy efficiency are the prime factors that are underpinning the variable speed generator market globally.
The report offers detailed insights in relevant market segments, their growth rates, latest market trends, forecasts, and other important details. The market has been segmented in six ways and the report has more than 150 figures and tables providing the most comprehensive information about the market segments and their growth prospects for the forecast period of 2020-2025.
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As per the report, among different power rating types, The 1-25 Mva segment is estimated to register the highest growth in the coming five years. The growing capacity addition in offshore wind projects is likely to drive the growth of this segment.
Based on the prime mover type, the market is segmented as hydro turbines, wind turbines, steam & gas turbines, and internal combustion engines. The internal combustion engines segment is expected to have the highest growth during the forecast period. The extensive use of variable speed generators in aerospace and marine applications are the major factors that drive the growth of this segment.
Based on the end-user type, the market is segmented as renewable power generation, hydroelectric power generation, marine & shipbuilding, oil, gas, & mining, commercial & residential, and others. The commercial & residential segment is projected to have the highest growth in the coming five years. This growth is owing to the use of variable speed gensets for commercial & residential purposes.
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Asia-Pacific is expected to depict the highest growth in the variable speed generator market in the coming five years. China and India are the growth engines of the region. The market is sustained by increasing power consumption and government directives on energy efficiency. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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The report further mentions about the key manufacturing players ABB Group, Siemens AG, Yanmar Co., Ltd., General Electric Company, Wartsila, Cummins, and Atlas Copco. who are emerging fast and their roles in the growing market. It also portraits the important mergers, acquisitions, and other current happenings in the Variable Speed Generator Market that can be helpful for the interested clients in analysing the market and taking right decisions accordingly.
Salient Features of the Report
The report on Variable Speed Generator Market is a well-researched work after analysing of various data from different reliable sources. The report included some of the salient features such as:
· Market structure,
· Market environment analysis,
· Market trend and forecast analysis,
· Market segment trend and forecast,
· Competitive landscape and dynamics,
· Attractive market segments and associated growth opportunities,
· Emerging trends,
· Strategic growth opportunities for the existing and new players,
· Key success factors
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