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Global Synchronous Generator Market to reach USD XX billion by the end of 2030.

Global Synchronous Generator Market Size study & Forecast, by Speed (1,500 RPM, 3,000 RPM), by Prime Mover (Steam Turbine, Gas Turbine, Others), by Power Rating (2-5 MVA, 5-10 MVA, 10-20 MVA, 20-30 MVA, 30-50 MVA), by End User (Renewable Power Generation, Oil & Gas, Conventional Power Generation, Industrial Manufacturing, Others) and Regional Analysis, 2023-2030

Product Code: EPPGS-41505041
Publish Date: 15-11-2023
Page: 200

Global Synchronous Generator Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. A synchronous generator, also known as a synchronous alternator or AC generator, is a device that converts mechanical energy into electrical energy. The synchronous generators are critical components in various applications where precise control of voltage and frequency is essential for a stable and reliable electrical power supply. The key factors driving the market growth are growing electricity demand and replacement of aging infrastructure, rising adoption of offshore wind farms, cohesive initiatives and increasing oil and gas demand that anticipated to support the market growth during the forecast period 2023-2030.

Moreover, the growth of the Synchronous Generator Market can be influenced by increasing electricity demand. As electricity demand increases, power utilities and independent power producers often need to expand their generation capacity. Synchronous generators are a common choice for large-scale power generation due to their reliability and ability to provide stable and synchronized electricity. This leads to increased orders and investments in synchronous generators. Thus, the growing electricity demand is anticipated to support the market growth. According to the Statista in 2023, Global electricity consumption has steadily increased over the past 50 years, reaching around 25,300 terawatt-hours in 2021. China stands out as the largest consumer of electricity worldwide, with consumption exceeding 7.8 terawatt hours in 2021. Additionally, the ability of synchronous generators to provide an uninterrupted and stable power supply is anticipated to create a lucrative opportunity for the market over the forecast period. However, the environmental concerns associated with synchronous generators stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Synchronous Generator Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increased production and investments in the power industry, growing industrial activities, and rising wind turbine capacity that is anticipated to support regional growth. Whereas, the Asia Pacific is expected to grow with the highest CAGR over the forecast period, owing to factors such as the rising investments in hydroelectric and combined-cycle power plants, growing focus on domestic manufacturing for power equipment, rising use of efficient equipment in thermal and nuclear power plants.

Major market player included in this report are:
ABB Group (Switzerland)
Siemens Energy AG (Germany)
WEG S.A. (Brazil)
Menzel Elektromotoren GmbH (Germany)
Ingeteam (Spain)
CG Power and Industrial Solutions Ltd (India)
NIDEC Industrial Solutions (Japan)
Marelli Motori (Italy)
Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC) (Japan)
Ideal Electric Company (US)
Recent Developments in the Market:
Ø In November 2022, Menzel Elektromotoren offers comprehensive rotary converter systems for testing facilities, featuring their own line of motors and generators. They also provide in-house programming for frequency converters, transformers, controls, software, and all necessary accessories to ensure a turnkey solution.
Global Synchronous Generator Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Speed, Prime Mover, Power Rating, End User, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Speed:
1,500 RPM
3,000 RPM

By Prime Mover:
Steam Turbine
Gas Turbine

By Power Rating:
2-5 MVA
5-10 MVA
10-20 MVA
20-30 MVA
30-50 MVA

By End User:
Renewable Power Generation
Oil & Gas
Conventional Power Generation
Industrial Manufacturing

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Synchronous Generator Market, by Region, 2020-2030 (USD Billion)
1.2.2. Synchronous Generator Market, by Speed, 2020-2030 (USD Billion)
1.2.3. Synchronous Generator Market, by Prime Mover, 2020-2030 (USD Billion)
1.2.4. Synchronous Generator Market, by Power Rating, 2020-2030 (USD Billion)
1.2.5. Synchronous Generator Market, by End User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Synchronous Generator Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Synchronous Generator Market Dynamics
3.1. Synchronous Generator Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Growing electricity demand and replacement of aging infrastructure Rising adoption of offshore wind farms Cohesive initiatives
3.1.2. Market Challenges Environmental concerns associated with synchronous generators
3.1.3. Market Opportunities Ability of synchronous generators to provide uninterrupted and stable power supply Growing technological advancement
Chapter 4. Global Synchronous Generator Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Synchronous Generator Market, by Speed
5.1. Market Snapshot
5.2. Global Synchronous Generator Market by Speed, Performance – Potential Analysis
5.3. Global Synchronous Generator Market Estimates & Forecasts by Speed 2020-2030 (USD Billion)
5.4. Synchronous Generator Market, Sub Segment Analysis
5.4.1. 1,500 RPM
5.4.2. 3,000 RPM
Chapter 6. Global Synchronous Generator Market, by Prime Mover
6.1. Market Snapshot
6.2. Global Synchronous Generator Market by Prime Mover, Performance – Potential Analysis
6.3. Global Synchronous Generator Market Estimates & Forecasts by Prime Mover 2020-2030 (USD Billion)
6.4. Synchronous Generator Market, Sub Segment Analysis
6.4.1. Steam Turbine
6.4.2. Gas Turbine
6.4.3. Others
Chapter 7. Global Synchronous Generator Market, by Power Rating
7.1. Market Snapshot
7.2. Global Synchronous Generator Market by Power Rating, Performance – Potential Analysis
7.3. Global Synchronous Generator Market Estimates & Forecasts by Power Rating 2020-2030 (USD Billion)
7.4. Synchronous Generator Market, Sub Segment Analysis
7.4.1. 2-5 MVA
7.4.2. 5-10 MVA
7.4.3. 10-20 MVA
7.4.4. 20-30 MVA
7.4.5. 30-50 MVA
Chapter 8. Global Synchronous Generator Market, by End User
8.1. Market Snapshot
8.2. Global Synchronous Generator Market by End User, Performance – Potential Analysis
8.3. Global Synchronous Generator Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
8.4. Synchronous Generator Market, Sub Segment Analysis
8.4.1. Renewable Power Generation
8.4.2. Oil & Gas
8.4.3. Conventional Power Generation
8.4.4. Industrial Manufacturing
8.4.5. Others
Chapter 9. Global Synchronous Generator Market, Regional Analysis
9.1. Top Leading Countries
9.2. Top Emerging Countries
9.3. Synchronous Generator Market, Regional Market Snapshot
9.4. North America Synchronous Generator Market
9.4.1. U.S. Synchronous Generator Market Speed breakdown estimates & forecasts, 2020-2030 Prime Mover breakdown estimates & forecasts, 2020-2030 Power Rating breakdown estimates & forecasts, 2020-2030 End User breakdown estimates & forecasts, 2020-2030
9.4.2. Canada Synchronous Generator Market
9.5. Europe Synchronous Generator Market Snapshot
9.5.1. U.K. Synchronous Generator Market
9.5.2. Germany Synchronous Generator Market
9.5.3. France Synchronous Generator Market
9.5.4. Spain Synchronous Generator Market
9.5.5. Italy Synchronous Generator Market
9.5.6. Rest of Europe Synchronous Generator Market
9.6. Asia-Pacific Synchronous Generator Market Snapshot
9.6.1. China Synchronous Generator Market
9.6.2. India Synchronous Generator Market
9.6.3. Japan Synchronous Generator Market
9.6.4. Australia Synchronous Generator Market
9.6.5. South Korea Synchronous Generator Market
9.6.6. Rest of Asia Pacific Synchronous Generator Market
9.7. Latin America Synchronous Generator Market Snapshot
9.7.1. Brazil Synchronous Generator Market
9.7.2. Mexico Synchronous Generator Market
9.8. Middle East & Africa Synchronous Generator Market
9.8.1. Saudi Arabia Synchronous Generator Market
9.8.2. South Africa Synchronous Generator Market
9.8.3. Rest of Middle East & Africa Synchronous Generator Market

Chapter 10. Competitive Intelligence
10.1. Key Company SWOT Analysis
10.1.1. Company 1
10.1.2. Company 2
10.1.3. Company 3
10.2. Top Market Strategies
10.3. Company Profiles
10.3.1. ABB Group (Switzerland) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.3.2. Siemens Energy AG (Germany)
10.3.3. WEG S.A. (Brazil)
10.3.4. Menzel Elektromotoren GmbH (Germany)
10.3.5. Ingeteam (Spain)
10.3.6. CG Power and Industrial Solutions Ltd (India)
10.3.7. NIDEC Industrial Solutions (Japan)
10.3.8. Marelli Motori (Italy)
10.3.9. Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC) (Japan)
10.3.10. Ideal Electric Company (US)
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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