Synchronous Generator Market Size, Share, & COVID-19 Impact Analysis, By End User (Renewable Power Generation, Industrial Manufacturing, and Others), By Prime Mover (Steam Turbine and Gas Turbine), and Regional Forecast, 2024-2032

A synchronous generator is an electromechanical energy conversion device that converts mechanical energy into alternate electric power through electromagnetic induction. Synchronous generators are also called AC generators or alternators. It consists mainly of two parts, the stator, which is a stationary part and carries the winding in which the voltage is generated, and the rotor, which is the rotating part and produces the main field flux. When the rotor is rotated at a constant speed, the magnetic field generated by the rotor induces a voltage in the stator windings. Synchronous generators are commonly used in power plants, coupled to turbines driven by steam, water, or gas to produce electricity. They are also found in various applications, such as diesel-electric locomotives and marine vessels, such as larger ships and yachts.

• For instance, ABB is a leading synchronous generator supplier that performs highly in marine, utilities, and industrial processes. ABB's synchronous generators deliver high efficiency and reliability in marine installations. They are also known for their excellent voltage and frequency regulation and durability in harsh marine environments.

The rising population, urbanization, and industrialization is increasing the electricity demand and driving the need for the synchronous generator as a power backup source, especially in areas with poor grid infrastructure. They are critical for efficient, reliable power generation across various applications, including gas turbines and steam.

The environment is impacted due to synchronous generators as it emits carbon and creates noise pollution. They are often powered by natural gas or coal, releasing greenhouse gases into the air. The noise created by synchronous generators can be highly problematic, especially in urban areas, which are already high on noise pollution.

IMPACT OF COVID- 19 ON THE SYNCHRONOUS GENERATOR MARKET

The COVID-19 pandemic impacted the synchronous generator market by causing supply chain and manufacturing disruptions due to factory closures and reduced workforce. As these generators require complex manufacturing processes, disruptions can delay delivery and increase lead time. The pandemic also decreased demand for synchronous generators in certain sectors, such as large-scale industrial operations and infrastructural projects. Economic uncertainties and reduced business activities resulted in the delay of the projects and impacted the demand for synchronous generators.

SEGMENTATION

KEY INSIGHTS

The report will cover the following key insights:

• Recent advancements in the synchronous generator market


• Key industry trends


• Regulatory landscape for the synchronous generator market


• Key industry developments


• Impact of COVID–19 on the market

ANALYSIS BY END USER

By end-user, the market is segmented into renewable power generation, industrial manufacturing, and others. The renewable power generation segment is projected to be the fastest growing segment during the forecast period as synchronous generators are extensively used in hydroelectric power plants to generate electricity. It is mostly used in large-scale hydroelectric projects. Synchronous generators offer other advantages, such as grid synchronization, stability, and stable frequency output.

ANALYSIS BY PRIME MOVER

By prime mover, the synchronous generator market is segmented into steam and gas turbines. Gas turbines are expected to dominate the market as they have a faster start-up time than the other generators, enabling them to react faster to disruptions or fluctuations. They are also well-suited for distributed generation systems are cogeneration applications. Gas turbines also have a lightweight design and are well-suited to limited space.

REGIONAL ANALYSIS

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The synchronous generator market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is projected to grow significantly due to the growing economy in these countries, especially India, China, and Japan. As natural gas is the primary energy source, power generation is experiencing significant development opportunities for gas turbine synchronous generators. A new plant using thorium as the primary fuel is under study, where its progress can lead to the revival of thermal power plants and is expected to create immense opportunities for synchronous generator manufacturers in this region. North America is expected to have the second-largest growth during the forecast period in the synchronous generator market. The growth of the power generation industry is due to the expansion of the renewable energy sector and technological advancements. The development of new technology has contributed to improving the efficiency of synchronous generators.

KEY PLAYERS COVERED

The report includes profiles of key players such as ABB, Siemens Energy, WEG, MEIDENSHA CORPORATION, ANDRITZ, Alconza Berango S.L, PARTZSCH Unternehmensgruppe, CG Power and Industrial Solutions Limited, TMEIC, Ansaldo Energia, among others.

KEY INDUSTRY DEVELOPMENTS:

• November 2022 - ABB announced that it secured its first order from COSCO Shipping, China's largest shipping company, for an in-line permanent magnet shaft generator system.


• November 2022 - Menzel Elektromotoren announced that it would supply complete rotary converter sets for the test fields, with generators from its production, transformers, frequency converters, and all controls, accessories, and in-house programming software.


• October 2022 - WEG announced that it would install India's first 4.20 MW wind turbine generator at Vadalivilai, Tamil Nadu. So far, 3,000 windmills have been installed, generating power up to 2 MW.


• March 2022 - ABB announced its latest in-line shaft generator that will ship operators to benefit from reliability, efficiency, and performance. The new generator is easy for installation to various vessels, including liquid natural gas tankers and ferries transporting passengers and cars.