Synchronous Generator Market by Product Type, End-Users, and Geography (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2030

Description

The global Synchronous Generator Market analysis by Persistence Market Research provides an insightful examination of the dynamics, trends, challenges, and growth drivers shaping the synchronous generator industry. This report offers exclusive data and forecasts covering the market trajectory from 2023 to 2030.

The global synchronous generator market is forecast to expand at a CAGR of 5.1% and thereby increase from a value of US$5.8 Bn in 2023, to US$8.3 Bn by the end of 2030.

Key Insights:

Synchronous Generator Market Size (2023E): USD 5.8 Billion

Projected Market Value (2030F): USD 8.3 Billion

Global Market Growth Rate (CAGR 2023 to 2030): 5.1%

Historical Market Growth Rate (CAGR 2018 to 2022): 3.2%

Synchronous Generator Market - Report Scope:

Synchronous generators are pivotal components in power generation systems, particularly in hydroelectric, thermal, and renewable energy plants. These generators play a crucial role in converting mechanical energy into electrical power, ensuring grid stability and reliability. The market is driven by increasing electricity demand, renewable energy integration, and industrialization in emerging economies. Technological advancements, grid modernization initiatives, and growing investments in power infrastructure propel market evolution. Moreover, the transition towards sustainable energy sources and the electrification of transportation foster demand for synchronous generators across various applications.

Market Growth Drivers:

The global synchronous generator market is propelled by the rising demand for reliable and efficient power generation solutions. Rapid urbanization, industrialization, and infrastructure development drive electricity consumption, necessitating the expansion and modernization of power generation facilities. Synchronous generators offer high efficiency, grid stability, and synchronization capabilities, making them indispensable in conventional and renewable energy projects. Moreover, advancements in generator design, materials, and control systems enhance performance, reduce maintenance costs, and enable seamless integration with smart grid technologies.

Market Restraints:

Despite favorable market dynamics, synchronous generator manufacturers face challenges related to supply chain disruptions, raw material shortages, and regulatory uncertainties. Fluctuations in commodity prices, geopolitical tensions, and trade policies impact the availability and pricing of key components like copper, steel, and rare-earth magnets. Additionally, stringent environmental regulations and emissions standards pose compliance challenges for generator manufacturers, necessitating investments in emission control technologies and sustainable practices. Moreover, the emergence of alternative power generation technologies and distributed energy resources presents competitive pressures and market uncertainties.

Market Opportunities:

The synchronous generator market presents lucrative opportunities driven by the expansion of renewable energy capacity, particularly in wind and solar power projects. Synchronous generators play a vital role in wind turbines, enabling grid synchronization, frequency control, and reactive power support. With the increasing deployment of wind and solar farms, there is a growing demand for synchronous generators equipped with advanced control and monitoring systems. Moreover, the integration of energy storage solutions and hybrid power systems creates new avenues for synchronous generator applications, facilitating grid stability, load balancing, and energy management.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the synchronous generator market globally?
How are technological advancements reshaping the competitive landscape of the synchronous generator industry?
What are the key challenges and market constraints faced by synchronous generator manufacturers?
Which regions and end-user segments are expected to witness significant growth in the synchronous generator market?
What strategies are leading market players adopting to gain a competitive edge and expand their market presence?

Competitive Intelligence and Business Strategy:

Leading players in the global synchronous generator market, including Siemens AG, General Electric Company, and ABB Ltd., focus on product innovation, strategic partnerships, and geographical expansion to strengthen their market positions. These companies invest in research and development to develop high-efficiency, low-emission synchronous generators tailored to specific applications and customer requirements. Strategic collaborations with OEMs, utilities, and engineering firms enable market players to expand their product portfolios, penetrate new markets, and address evolving customer needs. Moreover, emphasis on aftermarket services, predictive maintenance, and digitalization enhances customer value proposition and fosters long-term customer relationships.

Key Companies Profiled:
ABB
WEG
Siemens Energy
Meidensha Corporation
Andritz
General Electric

Mitsubishi Electric Corporation

Caterpillar Inc
Leroy-Somer
Mecc Alte Spa

Synchronous Generator Market Research Segmentation:

Synchronous generators cater to a wide range of applications across various industries and sectors. The market segmentation includes variations in Prime Mover, power rating, and end-user segments.

By Prime Mover:
Gas Turbine
Steam Turbine
By Power Rating:
10 to 20 MVA
2 to 5 MVA
20 to 30 MVA
30 to 50 MVA
5 to 10 MVA
By End User:
Energy and Power
Manufacturing
Oil and Gas
By Region:
North America
Europe
East Asia
South Asia & Oceania
Latin America
Middle East & Africa

Product Code: PMRREP33721

1. Executive Summary

1.1. Global Synchronous Generator Market Snapshot, 2023 and 2030
1.2. Market Opportunity Assessment, 2023 - 2030, US$ Mn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Industry Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Power Mover Lifecycle Analysis
2.4. Synchronous Generator Market: Value Chain
- 2.4.1. List of Raw Material Supplier
- 2.4.2. List of Manufacturers
- 2.4.3. List of Distributors
- 2.4.4. List of Applications
- 2.4.5. Profitability Analysis
2.5. Porter Five Force's Analysis
2.6. Geopolitical Tensions: Market Impact
2.7. Macro-Economic Factors
- 2.7.1. Global Sectorial Outlook
- 2.7.2. Global GDP Growth Outlook
- 2.7.3. Global Parent Market Overview
2.8. Forecast Factors - Relevance and Impact
2.9. Regulatory and Technology Landscape

3. Global Synchronous Generator Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

3.1. Key Highlights
- 3.1.1. Market Volume (Units) Projections
- 3.1.2. Market Size and Y-o-Y Growth
- 3.1.3. Absolute $ Opportunity
3.2. Market Size (US$ Mn) Analysis and Forecast
- 3.2.1. Historical Market Size Analysis, 2013-2016
- 3.2.2. Current Market Size Forecast, 2018-2026
3.3. Global Synchronous Generator Market Outlook: Power Mover
- 3.3.1. Introduction / Key Findings
- 3.3.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Power Mover, 2018 - 2022
- 3.3.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Mover, 2023 - 2030
  - 3.3.3.1. Gas Turbine
  - 3.3.3.2. Steam Turbine
3.4. Market Attractiveness Analysis: Power Mover
3.5. Global Synchronous Generator Market Outlook: Power Rating
- 3.5.1. Introduction / Key Findings
- 3.5.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Power Rating, 2018 - 2022
- 3.5.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Rating, 2023 - 2030
  - 3.5.3.1. 10 to 20 MVA
  - 3.5.3.2. 2 to 5 MVA
  - 3.5.3.3. 20 to 30 MVA
  - 3.5.3.4. 30 to 50 MVA
  - 3.5.3.5. 5 to 10 MVA
3.6. Market Attractiveness Analysis: Power Rating
3.7. Global Synchronous Generator Market Outlook: End User
- 3.7.1. Introduction / Key Findings
- 3.7.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By End User, 2018 - 2022
- 3.7.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By End User, 2023 - 2030
  - 3.7.3.1. Energy and Power
  - 3.7.3.2. Manufacturing
  - 3.7.3.3. Oil and Gas
3.8. Market Attractiveness Analysis: End User

4. Global Synchronous Generator Market Outlook: Region

4.1. Key Highlights
4.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Region, 2018 - 2022
4.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By Region, 2023 - 2030
- 4.3.1. North America
- 4.3.2. Europe
- 4.3.3. East Asia
- 4.3.4. South Asia and Oceania
- 4.3.5. Latin America
- 4.3.6. Middle East & Africa (MEA)
4.4. Market Attractiveness Analysis: Region

5. North America Synchronous Generator Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

5.1. Key Highlights
5.2. Pricing Analysis
5.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 5.3.1. By Country
- 5.3.2. By Power Mover
- 5.3.3. By Power Rating
- 5.3.4. By End User
5.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 5.4.1. U.S.
- 5.4.2. Canada
5.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Mover, 2023 - 2030
- 5.5.1. Gas Turbine
- 5.5.2. Steam Turbine
5.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Rating, 2023 - 2030
- 5.6.1. 10 to 20 MVA
- 5.6.2. 2 to 5 MVA
- 5.6.3. 20 to 30 MVA
- 5.6.4. 30 to 50 MVA
- 5.6.5. 5 to 10 MVA
5.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By End User, 2023 - 2030
- 5.7.1. Energy and Power
- 5.7.2. Manufacturing
- 5.7.3. Oil and Gas
5.8. Market Attractiveness Analysis

6. Europe Synchronous Generator Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

6.1. Key Highlights
6.2. Pricing Analysis
6.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 6.3.1. By Country
- 6.3.2. By Power Mover
- 6.3.3. By Power Rating
- 6.3.4. By End User
6.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 6.4.1. Germany
- 6.4.2. France
- 6.4.3. U.K.
- 6.4.4. Italy
- 6.4.5. Spain
- 6.4.6. Russia
- 6.4.7. Turkiye
- 6.4.8. Rest of Europe
6.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Mover, 2023 - 2030
- 6.5.1. Gas Turbine
- 6.5.2. Steam Turbine
6.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Rating, 2023 - 2030
- 6.6.1. 10 to 20 MVA
- 6.6.2. 2 to 5 MVA
- 6.6.3. 20 to 30 MVA
- 6.6.4. 30 to 50 MVA
- 6.6.5. 5 to 10 MVA
6.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By End User, 2023 - 2030
- 6.7.1. Energy and Power
- 6.7.2. Manufacturing
- 6.7.3. Oil and Gas
6.8. Market Attractiveness Analysis

7. East Asia Synchronous Generator Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

7.1. Key Highlights
7.2. Pricing Analysis
7.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 7.3.1. By Country
- 7.3.2. By Power Mover
- 7.3.3. By Power Rating
- 7.3.4. By End User
7.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 7.4.1. China
- 7.4.2. Japan
- 7.4.3. South Korea
7.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Mover, 2023 - 2030
- 7.5.1. Gas Turbine
- 7.5.2. Steam Turbine
7.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Rating, 2023 - 2030
- 7.6.1. 10 to 20 MVA
- 7.6.2. 2 to 5 MVA
- 7.6.3. 20 to 30 MVA
- 7.6.4. 30 to 50 MVA
- 7.6.5. 5 to 10 MVA
7.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By End User, 2023 - 2030
- 7.7.1. Energy and Power
- 7.7.2. Manufacturing
- 7.7.3. Oil and Gas
7.8. Market Attractiveness Analysis

8. South Asia & Oceania Synchronous Generator Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

8.1. Key Highlights
8.2. Pricing Analysis
8.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 8.3.1. By Country
- 8.3.2. By Power Mover
- 8.3.3. By Power Rating
- 8.3.4. By End User
8.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 8.4.1. India
- 8.4.2. Southeast Asia
- 8.4.3. ANZ
- 8.4.4. Rest of South Asia & Oceania
8.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Mover, 2023 - 2030
- 8.5.1. Gas Turbine
- 8.5.2. Steam Turbine
8.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Rating, 2023 - 2030
- 8.6.1. 10 to 20 MVA
- 8.6.2. 2 to 5 MVA
- 8.6.3. 20 to 30 MVA
- 8.6.4. 30 to 50 MVA
- 8.6.5. 5 to 10 MVA
8.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By End User, 2023 - 2030
- 8.7.1. Energy and Power
- 8.7.2. Manufacturing
- 8.7.3. Oil and Gas
8.8. Market Attractiveness Analysis

9. Latin America Synchronous Generator Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

9.1. Key Highlights
9.2. Pricing Analysis
9.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 9.3.1. By Country
- 9.3.2. By Power Mover
- 9.3.3. By Power Rating
- 9.3.4. By End User
9.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 9.4.1. Brazil
- 9.4.2. Mexico
- 9.4.3. Rest of Latin America
9.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Mover, 2023 - 2030
- 9.5.1. Gas Turbine
- 9.5.2. Steam Turbine
9.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Rating, 2023 - 2030
- 9.6.1. 10 to 20 MVA
- 9.6.2. 2 to 5 MVA
- 9.6.3. 20 to 30 MVA
- 9.6.4. 30 to 50 MVA
- 9.6.5. 5 to 10 MVA
9.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By End User, 2023 - 2030
- 9.7.1. Energy and Power
- 9.7.2. Manufacturing
- 9.7.3. Oil and Gas
9.8. Market Attractiveness Analysis

10. Middle East & Africa Synchronous Generator Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

10.1. Key Highlights
10.2. Pricing Analysis
10.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 10.3.1. By Country
- 10.3.2. By Power Mover
- 10.3.3. By Power Rating
- 10.3.4. By End User
10.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 10.4.1. GCC
- 10.4.2. Egypt
- 10.4.3. South Africa
- 10.4.4. Northern Africa
- 10.4.5. Rest of Middle East & Africa
10.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Mover, 2023 - 2030
- 10.5.1. Gas Turbine
- 10.5.2. Steam Turbine
10.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Rating, 2023 - 2030
- 10.6.1. 10 to 20 MVA
- 10.6.2. 2 to 5 MVA
- 10.6.3. 20 to 30 MVA
- 10.6.4. 30 to 50 MVA
- 10.6.5. 5 to 10 MVA
10.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By End User, 2023 - 2030
- 10.7.1. Energy and Power
- 10.7.2. Manufacturing
- 10.7.3. Oil and Gas
10.8. Market Attractiveness Analysis

11. Competition Landscape

11.1. Market Share Analysis, 2022
11.2. Market Structure
- 11.2.1. Competition Intensity Mapping By Market
- 11.2.2. Competition Analog IC
- 11.2.3. Apparent Power Mover Capacity
11.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 11.3.1. ABB
  - 11.3.1.1. Overview
  - 11.3.1.2. Segments and Power Mover
  - 11.3.1.3. Key Financials
  - 11.3.1.4. Market Developments
  - 11.3.1.5. Market Strategy
- 11.3.2. WEG
  - 11.3.2.1. Overview
  - 11.3.2.2. Segments and Power Mover
  - 11.3.2.3. Key Financials
  - 11.3.2.4. Market Developments
  - 11.3.2.5. Market Strategy
- 11.3.3. Siemens Energy
  - 11.3.3.1. Overview
  - 11.3.3.2. Segments and Power Mover
  - 11.3.3.3. Key Financials
  - 11.3.3.4. Market Developments
  - 11.3.3.5. Market Strategy
- 11.3.4. Meidensha Corporation
  - 11.3.4.1. Overview
  - 11.3.4.2. Segments and Power Mover
  - 11.3.4.3. Key Financials
  - 11.3.4.4. Market Developments
  - 11.3.4.5. Market Strategy
- 11.3.5. Andritz
  - 11.3.5.1. Overview
  - 11.3.5.2. Segments and Power Mover
  - 11.3.5.3. Key Financials
  - 11.3.5.4. Market Developments
  - 11.3.5.5. Market Strategy
- 11.3.6. General Electric
  - 11.3.6.1. Overview
  - 11.3.6.2. Segments and Power Mover
  - 11.3.6.3. Key Financials
  - 11.3.6.4. Market Developments
  - 11.3.6.5. Market Strategy
- 11.3.7. Mitsubishi Electric Corporation
  - 11.3.7.1. Overview
  - 11.3.7.2. Segments and Power Mover
  - 11.3.7.3. Key Financials
  - 11.3.7.4. Market Developments
  - 11.3.7.5. Market Strategy
- 11.3.8. Caterpillar Inc
  - 11.3.8.1. Overview
  - 11.3.8.2. Segments and Power Mover
  - 11.3.8.3. Key Financials
  - 11.3.8.4. Market Developments
  - 11.3.8.5. Market Strategy
- 11.3.9. Leroy-Somer
  - 11.3.9.1. Overview
  - 11.3.9.2. Segments and Power Mover
  - 11.3.9.3. Key Financials
  - 11.3.9.4. Market Developments
  - 11.3.9.5. Market Strategy
- 11.3.10. Mecc Alte Spa
  - 11.3.10.1. Overview
  - 11.3.10.2. Segments and Power Mover
  - 11.3.10.3. Key Financials
  - 11.3.10.4. Market Developments
  - 11.3.10.5. Market Strategy

12. Appendix

12.1. Research Methodology
12.2. Research Assumptions
12.3. Acronyms and Abbreviations