The variable speed generator market is segmented on the basis of rating, generator type, prime mover, technology, and end user.

By generator type, the variable speed generator market is segmented into doubly fed induction generator, variable speed-self excited induction generator, permanent magnet synchronous generator, and wound rotor induction generator.

By rating type, the variable speed generator market is segmented into up to 100 KVA, 100 KVA-1MVA, 1MVA-25MVA, and above 25 MVA.

By technology, the market is segmented into mechanical variable speed generators and power electronics-based variable speed generators.

Based on prime mover, the market is bifurcated into hydro turbines, internal combustion engines, wind turbines, and steam & gas turbines.

End users segment comprises hydroelectric power generation, renewable power generation, marine and shipbuilding, oil & gas mining, commercial and residential, aerospace and telecommunications, and others.

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Global Variable Speed Generator Market Overview

The global variable speed generator market is anticipated to surpass a valuation of USD 9,600 million, attaining a CAGR of 9.03% during the forecast period (2018-2023), Market Research Future (MRFR) unveils in a detailed report. Variable speed generators can be defined as electronic devices, which can provide the power source energy to move at optimal speeds. The rising emphasis on alternative energy production is accelerating the growth of the market across the globe.

Market Potential and Pitfalls

The global Variable Speed Generator Market has witnessed a tectonic surge over the past few years, mainly due to the increased energy crunch faced by economies across the globe. This has elicited the demand for alternative energy sources. The surging demand for generators, offering high-quality voltage, besides saving on energy expenses is predicted to trigger the demand for variable speed generators worldwide. Increasing applications in hybrid energy systems that can improve the energy savings of industries are likely to encourage the market growth. Moreover, the modernization of power grids by replacing legacy equipment, with the development of smart cities will generate new growth opportunities for the market. Policies made by the government on alternative energy is considered a major driver for the market. Rising operational expenditure savings due to the implementation of variable speed generators is predicted to propel the market demand in the foreseeable future.

Regional Frontiers

Geographically, the variable speed generator market spans across Europe, North America, Asia Pacific, and Rest of the World (RoW).

Considering the global scenario, the Asia Pacific led the market globally in 2017. The region is expected to retain its growth due to the rising government mandates imposed on energy efficiency, modernization of hydropower plants, and a slew of renewable energy sources.

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