MArketandMarkets’ report, "Variable Speed Generator Market by Type, Prime Mover, Technology, Power, End-User, Region - Global Forecast to 2022", indicates that the global market for variable-speed (VS) generators is projected to reach $8.36 billion by 2022. The market is expected to grow from an estimated $5.79 billion in 2017 to $8.36 billion by 2022, registering a CAGR of 7.63% during the forecast period. Growth is primarily due to the increasing emphasis on alternative energy production, increasing government mandates over energy efficiency, and growing industrialization and urbanization.
- Based on end user, the renewable power generation segment is expected to hold the largest share of the market
- The internal combustion engine segment is expected to be the fastest-growing segment of the market
- Asia Pacific: A leading market for variable speed generators
- To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Variable Speed Generator Market. These players include ABB (Switzerland), GE (US), Siemens (Germany), Wartsila (Finland), Cummins (US), and Rolls Royce (UK). The leading players are trying to make inroads in the markets in the developed economies and are adopting various strategies to increase their market shares.
Need more VS data to get up to speed? If so, you can browse the "Variable Speed Generator Market - Global Forecast to 2022" report.