The global synchronous generator market size is expected to reach US$ 6.5 billion in 2024. Sales of synchronous generators are predicted to increase at a CAGR of 5.4% between 2024 and 2034 and are projected to achieve a valuation of US$ 11 billion by 2034.
The rising need for dependable and effective power production, growing energy consumption, the demand for grid stability, and the increasing focus on integrating renewable energy are driving the market expansion.
Government initiatives and technological advancements that promote sustainable power solutions further fuel the market outlook. The industrial synchronous generator is essential to support a robust and sustainable power infrastructure as the world moves toward cleaner energy sources.
Attributes | Details |
---|---|
Market Value for 2024 | US$ 6.5 billion |
Market Value for 2034 | US$ 11 billion |
Market CAGR from 2024 to 2034 | 5.4% |
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From 2019 to 2023, the demand for synchronous generators expanded rapidly due to the rising need for dependable power production. Its trajectory has been accelerated by market forces such as developing industrial sectors, growing integration of renewable energy, and technological advancements.
Attributes | Details |
---|---|
Market Value for 2019 | US$ 4.7 billion |
Market Value for 2023 | US$ 6.1 billion |
Market CAGR from 2019 to 2023 | 7.0% |
Projections for steady market expansion of synchronous generators between 2024 and 2034 are high, driven by ongoing innovation, government programs, and a global transition to sustainable energy sources. By adjusting to changing energy landscapes and maintaining a solid presence in the dynamic power generation systems industry, the AC generator industry has the potential to capitalize on emerging opportunities.
The segmented market analysis of synchronous generators is included in the following subsection. Based on comprehensive studies, the gas turbine sector is leading the prime mover category, and the 10 to 20 MVA segment is commanding the power rating category.
Attributes | Details |
---|---|
Top Prime Mover | Gas Turbine |
CAGR % 2019 to 2023 | 6.8% |
CAGR % 2024 to 2034 | 5.1% |
Attributes | Details |
---|---|
Top Power Rating | 10 to 20 MVA |
CAGR % 2019 to 2023 | 6.5% |
CAGR % 2024 to 2034 | 4.9% |
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The synchronous generator market can be observed in the subsequent tables, which focus on the leading economies in the United States, United Kingdom, South Korea, Japan, and China. A comprehensive evaluation demonstrates that South Korea synchronous generator market exhibits a robust CAGR through 2034.
Attributes | Details |
---|---|
South Korea Market Size (2034) | US$ 650.8 million |
CAGR % 2019 to 2023 | 11.3% |
CAGR % 2024 to 2034 | 7.2% |
Attributes | Details |
---|---|
United Kingdom Market Size (2034) | US$ 444.3 million |
CAGR % 2019 to 2023 | 10.0% |
CAGR % 2024 to 2034 | 6.7% |
Attributes | Details |
---|---|
China Market Size (2034) | US$ 1.8 billion |
CAGR % 2019 to 2023 | 9.1% |
CAGR % 2024 to 2034 | 6.2% |
Attributes | Details |
---|---|
Japan Market Size (2034) | US$ 1.2 billion |
CAGR % 2019 to 2023 | 9.7% |
CAGR % 2024 to 2034 | 6.4% |
Attributes | Details |
---|---|
United States Market Size (2034) | US$ 2.0 billion |
CAGR % 2019 to 2023 | 7.8% |
CAGR % 2024 to 2034 | 5.7% |
Key synchronous generator manufacturers compete fiercely in an attempt to dominate the market. To obtain a competitive advantage, well-established businesses concentrate on technological innovations, strategic alliances, and global expansion. Emerging market players prioritize innovation and economic approaches to gain traction in the market.
The growing need for dependable power sources and the integration of renewable energy is propelling the industry. Prominent vendors are constantly vying for market share, innovation, and efficiency, which characterizes the market dynamic.
Notable Breakthroughs and Advancements
Company | Details |
---|---|
ABB | ABB received its first order for in-line permanent magnet shaft generator systems from COSCO Shipping, the biggest shipping company in China, in November 2022. |
Menzel Elektromotoren | In November 2022, Menzel Elektromotoren provided test fields with complete rotary converter sets, including its own-produced motors and generators, frequency converters, transformers, all accessories, controls, and internally programmed software. |
WEG | At Vadalivilai, near the beneficial Aralvaimozhi Pass, WEG installed an advanced gearless wind turbine generator in October 2022 for INR 88 crore. |
ABB | ABB offers ship operators the efficiency, performance, and dependability benefits of permanent magnet technology by launching their newest in-line shaft generator in April 2022. |
The synchronous generator industry to secure a valuation of US$ 6.5 billion in 2024.
The synchronous generator sector is estimated to reach US$ 11 billion by 2034.
Through 2034, the synchronous generator industry is anticipated to expand at a 5.4% CAGR.
From 2019 to 2023, the synchronous generator market recorded a 7.0% CAGR.
The gas turbine sector is to register a CAGR of 5.1% from 2024 to 2034.
The 10 to 20 MVA sector is to register a CAGR of 4.9% from 2024 to 2034.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Prime Mover
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Prime Mover, 2019 to 2023
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Prime Mover, 2024 to 2034
5.3.1. Gas Turbine
5.3.2. Steam Turbine
5.4. Y-o-Y Growth Trend Analysis By Prime Mover, 2019 to 2023
5.5. Absolute $ Opportunity Analysis By Prime Mover, 2024 to 2034
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Power Rating
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Power Rating, 2019 to 2023
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Power Rating, 2024 to 2034
6.3.1. 10-20 MVA
6.3.2. 2-5 MVA
6.3.3. 20-30 MVA
6.3.4. 30-50 MVA
6.3.5. 5-10 MVA
6.4. Y-o-Y Growth Trend Analysis By Power Rating, 2019 to 2023
6.5. Absolute $ Opportunity Analysis By Power Rating, 2024 to 2034
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-User
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End-User, 2019 to 2023
7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End-User, 2024 to 2034
7.3.1. Energy & Power
7.3.2. Manufacturing
7.3.3. Oil & Gas
7.4. Y-o-Y Growth Trend Analysis By End-User, 2019 to 2023
7.5. Absolute $ Opportunity Analysis By End-User, 2024 to 2034
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2019 to 2023
8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034
8.3.1. North America
8.3.2. Latin America
8.3.3. Western Europe
8.3.4. Eastern Europe
8.3.5. South Asia and Pacific
8.3.6. East Asia
8.3.7. Middle East and Africa
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
9.2.1. By Country
9.2.1.1. USA
9.2.1.2. Canada
9.2.2. By Prime Mover
9.2.3. By Power Rating
9.2.4. By End-User
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Prime Mover
9.3.3. By Power Rating
9.3.4. By End-User
9.4. Key Takeaways
10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Prime Mover
10.2.3. By Power Rating
10.2.4. By End-User
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Prime Mover
10.3.3. By Power Rating
10.3.4. By End-User
10.4. Key Takeaways
11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. UK
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Western Europe
11.2.2. By Prime Mover
11.2.3. By Power Rating
11.2.4. By End-User
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Prime Mover
11.3.3. By Power Rating
11.3.4. By End-User
11.4. Key Takeaways
12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
12.2.1. By Country
12.2.1.1. Poland
12.2.1.2. Russia
12.2.1.3. Czech Republic
12.2.1.4. Romania
12.2.1.5. Rest of Eastern Europe
12.2.2. By Prime Mover
12.2.3. By Power Rating
12.2.4. By End-User
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Prime Mover
12.3.3. By Power Rating
12.3.4. By End-User
12.4. Key Takeaways
13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
13.2.1. By Country
13.2.1.1. India
13.2.1.2. Bangladesh
13.2.1.3. Australia
13.2.1.4. New Zealand
13.2.1.5. Rest of South Asia and Pacific
13.2.2. By Prime Mover
13.2.3. By Power Rating
13.2.4. By End-User
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Prime Mover
13.3.3. By Power Rating
13.3.4. By End-User
13.4. Key Takeaways
14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
14.2.1. By Country
14.2.1.1. China
14.2.1.2. Japan
14.2.1.3. South Korea
14.2.2. By Prime Mover
14.2.3. By Power Rating
14.2.4. By End-User
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Prime Mover
14.3.3. By Power Rating
14.3.4. By End-User
14.4. Key Takeaways
15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
15.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
15.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
15.2.1. By Country
15.2.1.1. GCC Countries
15.2.1.2. South Africa
15.2.1.3. Israel
15.2.1.4. Rest of MEA
15.2.2. By Prime Mover
15.2.3. By Power Rating
15.2.4. By End-User
15.3. Market Attractiveness Analysis
15.3.1. By Country
15.3.2. By Prime Mover
15.3.3. By Power Rating
15.3.4. By End-User
15.4. Key Takeaways
16. Key Countries Market Analysis
16.1. USA
16.1.1. Pricing Analysis
16.1.2. Market Share Analysis, 2023
16.1.2.1. By Prime Mover
16.1.2.2. By Power Rating
16.1.2.3. By End-User
16.2. Canada
16.2.1. Pricing Analysis
16.2.2. Market Share Analysis, 2023
16.2.2.1. By Prime Mover
16.2.2.2. By Power Rating
16.2.2.3. By End-User
16.3. Brazil
16.3.1. Pricing Analysis
16.3.2. Market Share Analysis, 2023
16.3.2.1. By Prime Mover
16.3.2.2. By Power Rating
16.3.2.3. By End-User
16.4. Mexico
16.4.1. Pricing Analysis
16.4.2. Market Share Analysis, 2023
16.4.2.1. By Prime Mover
16.4.2.2. By Power Rating
16.4.2.3. By End-User
16.5. Germany
16.5.1. Pricing Analysis
16.5.2. Market Share Analysis, 2023
16.5.2.1. By Prime Mover
16.5.2.2. By Power Rating
16.5.2.3. By End-User
16.6. UK
16.6.1. Pricing Analysis
16.6.2. Market Share Analysis, 2023
16.6.2.1. By Prime Mover
16.6.2.2. By Power Rating
16.6.2.3. By End-User
16.7. France
16.7.1. Pricing Analysis
16.7.2. Market Share Analysis, 2023
16.7.2.1. By Prime Mover
16.7.2.2. By Power Rating
16.7.2.3. By End-User
16.8. Spain
16.8.1. Pricing Analysis
16.8.2. Market Share Analysis, 2023
16.8.2.1. By Prime Mover
16.8.2.2. By Power Rating
16.8.2.3. By End-User
16.9. Italy
16.9.1. Pricing Analysis
16.9.2. Market Share Analysis, 2023
16.9.2.1. By Prime Mover
16.9.2.2. By Power Rating
16.9.2.3. By End-User
16.10. Poland
16.10.1. Pricing Analysis
16.10.2. Market Share Analysis, 2023
16.10.2.1. By Prime Mover
16.10.2.2. By Power Rating
16.10.2.3. By End-User
16.11. Russia
16.11.1. Pricing Analysis
16.11.2. Market Share Analysis, 2023
16.11.2.1. By Prime Mover
16.11.2.2. By Power Rating
16.11.2.3. By End-User
16.12. Czech Republic
16.12.1. Pricing Analysis
16.12.2. Market Share Analysis, 2023
16.12.2.1. By Prime Mover
16.12.2.2. By Power Rating
16.12.2.3. By End-User
16.13. Romania
16.13.1. Pricing Analysis
16.13.2. Market Share Analysis, 2023
16.13.2.1. By Prime Mover
16.13.2.2. By Power Rating
16.13.2.3. By End-User
16.14. India
16.14.1. Pricing Analysis
16.14.2. Market Share Analysis, 2023
16.14.2.1. By Prime Mover
16.14.2.2. By Power Rating
16.14.2.3. By End-User
16.15. Bangladesh
16.15.1. Pricing Analysis
16.15.2. Market Share Analysis, 2023
16.15.2.1. By Prime Mover
16.15.2.2. By Power Rating
16.15.2.3. By End-User
16.16. Australia
16.16.1. Pricing Analysis
16.16.2. Market Share Analysis, 2023
16.16.2.1. By Prime Mover
16.16.2.2. By Power Rating
16.16.2.3. By End-User
16.17. New Zealand
16.17.1. Pricing Analysis
16.17.2. Market Share Analysis, 2023
16.17.2.1. By Prime Mover
16.17.2.2. By Power Rating
16.17.2.3. By End-User
16.18. China
16.18.1. Pricing Analysis
16.18.2. Market Share Analysis, 2023
16.18.2.1. By Prime Mover
16.18.2.2. By Power Rating
16.18.2.3. By End-User
16.19. Japan
16.19.1. Pricing Analysis
16.19.2. Market Share Analysis, 2023
16.19.2.1. By Prime Mover
16.19.2.2. By Power Rating
16.19.2.3. By End-User
16.20. South Korea
16.20.1. Pricing Analysis
16.20.2. Market Share Analysis, 2023
16.20.2.1. By Prime Mover
16.20.2.2. By Power Rating
16.20.2.3. By End-User
16.21. GCC Countries
16.21.1. Pricing Analysis
16.21.2. Market Share Analysis, 2023
16.21.2.1. By Prime Mover
16.21.2.2. By Power Rating
16.21.2.3. By End-User
16.22. South Africa
16.22.1. Pricing Analysis
16.22.2. Market Share Analysis, 2023
16.22.2.1. By Prime Mover
16.22.2.2. By Power Rating
16.22.2.3. By End-User
16.23. Israel
16.23.1. Pricing Analysis
16.23.2. Market Share Analysis, 2023
16.23.2.1. By Prime Mover
16.23.2.2. By Power Rating
16.23.2.3. By End-User
17. Market Structure Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Market Share Analysis of Top Players
17.3.1. By Regional
17.3.2. By Prime Mover
17.3.3. By Power Rating
17.3.4. By End-User
18. Competition Analysis
18.1. Competition Deep Dive
18.1.1. YLDJ
18.1.1.1. Overview
18.1.1.2. Product Portfolio
18.1.1.3. Profitability by Market Segments
18.1.1.4. Sales Footprint
18.1.1.5. Strategy Overview
18.1.1.5.1. Marketing Strategy
18.1.1.5.2. Product Strategy
18.1.1.5.3. Channel Strategy
18.1.2. Fangyou
18.1.2.1. Overview
18.1.2.2. Product Portfolio
18.1.2.3. Profitability by Market Segments
18.1.2.4. Sales Footprint
18.1.2.5. Strategy Overview
18.1.2.5.1. Marketing Strategy
18.1.2.5.2. Product Strategy
18.1.2.5.3. Channel Strategy
18.1.3. Junneng
18.1.3.1. Overview
18.1.3.2. Product Portfolio
18.1.3.3. Profitability by Market Segments
18.1.3.4. Sales Footprint
18.1.3.5. Strategy Overview
18.1.3.5.1. Marketing Strategy
18.1.3.5.2. Product Strategy
18.1.3.5.3. Channel Strategy
18.1.4. Sumtor
18.1.4.1. Overview
18.1.4.2. Product Portfolio
18.1.4.3. Profitability by Market Segments
18.1.4.4. Sales Footprint
18.1.4.5. Strategy Overview
18.1.4.5.1. Marketing Strategy
18.1.4.5.2. Product Strategy
18.1.4.5.3. Channel Strategy
18.1.5. Schneider
18.1.5.1. Overview
18.1.5.2. Product Portfolio
18.1.5.3. Profitability by Market Segments
18.1.5.4. Sales Footprint
18.1.5.5. Strategy Overview
18.1.5.5.1. Marketing Strategy
18.1.5.5.2. Product Strategy
18.1.5.5.3. Channel Strategy
18.1.6. Siemens
18.1.6.1. Overview
18.1.6.2. Product Portfolio
18.1.6.3. Profitability by Market Segments
18.1.6.4. Sales Footprint
18.1.6.5. Strategy Overview
18.1.6.5.1. Marketing Strategy
18.1.6.5.2. Product Strategy
18.1.6.5.3. Channel Strategy
18.1.7. Jiangsu Wheatstone electric Technology Co. Ltd.
18.1.7.1. Overview
18.1.7.2. Product Portfolio
18.1.7.3. Profitability by Market Segments
18.1.7.4. Sales Footprint
18.1.7.5. Strategy Overview
18.1.7.5.1. Marketing Strategy
18.1.7.5.2. Product Strategy
18.1.7.5.3. Channel Strategy
18.1.8. Nidec
18.1.8.1. Overview
18.1.8.2. Product Portfolio
18.1.8.3. Profitability by Market Segments
18.1.8.4. Sales Footprint
18.1.8.5. Strategy Overview
18.1.8.5.1. Marketing Strategy
18.1.8.5.2. Product Strategy
18.1.8.5.3. Channel Strategy
18.1.9. Panasonic
18.1.9.1. Overview
18.1.9.2. Product Portfolio
18.1.9.3. Profitability by Market Segments
18.1.9.4. Sales Footprint
18.1.9.5. Strategy Overview
18.1.9.5.1. Marketing Strategy
18.1.9.5.2. Product Strategy
18.1.9.5.3. Channel Strategy
18.1.10. PowerTEC Industrial Motors
18.1.10.1. Overview
18.1.10.2. Product Portfolio
18.1.10.3. Profitability by Market Segments
18.1.10.4. Sales Footprint
18.1.10.5. Strategy Overview
18.1.10.5.1. Marketing Strategy
18.1.10.5.2. Product Strategy
18.1.10.5.3. Channel Strategy
19. Assumptions & Acronyms Used
20. Research Methodology
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