Energy and Power Variable Speed Generator Industry | Page 2

End users segment comprises hydroelectric power generation, renewable power generation,
marine and shipbuilding, oil & gas mining, commercial and residential, aerospace and
telecommunications, and others.
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. The region acquires
the lion’s share due to rapid industrialization and urbanization, which are triggering the demand
for variable speed generators. To meet the increasing demand for energy, countries in the APAC
region are highly focusing on power generation with the help of renewable energy sources.
Consumption of clean energy will augment the development of wind power, further creating new
growth opportunities in the regional market. Moreover, the rapid development in the commercial
sectors like, hospitals and institutions are propelling the growth of the variable speed generator
market in the APAC.
Industry Updates
The Italian shipyard in Genoa has recently launched the impressive 50-meter Tankoa S501 hybrid.
The model has been based on the Vertige, which was the first in the boat builder's 50-meter series.
Twin MTU diesel engines have been used by the superyacht's hybrid system, which produces two
300 kW electric motors and 895 kW, fed by two 250 kW variable speed generators.
Competitive Dashboard
The players dominating the global variable speed generator market include Innovus Power Inc.
(U.S.), Siemens AG (Germany), Cummins Inc. (U.S.), GENERAL ELECTRIC (U.S.), Ausonia
Srl (Italy), YANMAR CO., LTD. (Japan), ABB (Switzerland), Generac Power Systems, Inc.
(U.S.), Fischer Panda GmbH (Germany), HIMOINSA (Spain), WhisperPower B.V. (The
Netherlands), and others.
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