Asynchronous Squirrel Cage Induction Generators Market Size, Share, Growth and Industry Analysis by Price (Low Pressure Generators, and, High Pressure Generators), By Application (Chemical, Metallurgy and Mining, Water and Wastewater Treatment Petrochemical, Food and Drink, Automotive and Transportation, General Purpose Machinery, and, Other), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

REPORT OVERVIEW

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The global Asynchronous squirrel cage induction generators market size is anticipated to be worth USD 13940 million in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 16940 million by 2028 with a CAGR of 3.3% during the forecast period. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Asynchronous squirrel cage induction generators are widely used in renewable energy systems. These generators don't require separate field excitation and operate without slip rings or brushes. Instead, they rely on electromagnetic induction between the stator and rotor to produce electricity. These generators are robust, low-maintenance, and suitable for wind and hydroelectric applications.

Their simplicity and reliability make them a preferred choice for converting mechanical energy into electrical power, contributing to the growth of sustainable energy production. All of these factors have played an important role in increasing asynchronous squirrel cage induction generators market growth.

COVID-19 impact: Resilience Demonstrated by Renewable Energy Sector During Pandemic Increased Market Growth

The pandemic of COVID-19 had an adverse impact on all the industries and sectors throughout the world.  The COVID-19 pandemic impacted the production and distribution of asynchronous squirrel cage induction generators. Manufacturing disruptions, supply chain limitations, and reduced workforce availability led to delays in production and project timelines.

Lockdowns and restrictions affected both the manufacturing hubs and transportation, causing difficulties in sourcing components and delivering the generators to installation sites. Despite these challenges, the renewable energy sector demonstrated resilience, with some projects adapting to new conditions and timelines. As the situation gradually stabilizes, the demand for sustainable energy solutions, including asynchronous squirrel cage induction generator, remains significant, contributing to the recovery of the industry.

LATEST TRENDS

"Usage of Advanced Control Algorithms in these Generators to Fuel Market Growth"

Recent innovations in asynchronous squirrel cage induction generators market focus on efficiency and integration. Advanced control algorithms optimize generator performance by adapting to varying load conditions, improving energy conversion. Integration with smart grid technology enables better synchronization with the power grid and enhances grid stability during fluctuations.

Additionally, research into new materials and manufacturing techniques aims to reduce losses and increase overall generator efficiency. Innovations also explore the incorporation of sensor technology for real-time monitoring, enabling predictive maintenance and reducing downtime. These advancements collectively enhance the reliability, performance, and compatibility of asynchronous squirrel cage induction generators in modern energy systems.

SEGMENTATION

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• By Type:

The market can be divided on the basis of price into the following segments:

Low pressure generators, and, high pressure generators. The low-pressure generators segment is projected to hold the dominant market share through 2028 the forecasting period.

• By Application:

The market can be divided on the basis of application into the following segments:

Chemical, metallurgy and mining, water and wastewater treatment petrochemical, food and drink, automotive and transportation, general purpose machinery, and, other. The chemical segment is predicted to dominate the market through 2028.

DRIVING FACTORS

"Ability of these Equipments to Operate Without Slip Rings or Brushes to Amplify Market Growth"

Driving the adoption of asynchronous squirrel cage induction generators market share are several key factors. Their robust and simple construction minimizes maintenance needs, reducing operational costs. Widely understood technology and established manufacturing processes enhance their accessibility and affordability.

These generators exhibit high reliability, making them suitable for remote and challenging environments. As the world focuses on renewable energy, their compatibility with various renewable sources like wind and hydroelectric power makes them a favored choice. Moreover, their ability to operate without slip rings or brushes ensures low maintenance requirements and longer operational lifespans. These driving factors collectively contribute to the continued prominence of asynchronous squirrel cage induction generators in the energy landscape.

"Their Inherent Ability to Start and Operate Under Varying Loading Conditions to Drive Market Growth"

In addition to their robustness and compatibility, other driving factors for asynchronous squirrel cage induction generators include their proven track record in various industrial applications. Their inherent ability to start and operate under varying load conditions without external excitation enhances their adaptability.

Furthermore, their simple design and lack of brushes or slip rings reduce maintenance complexity, ensuring prolonged operational lifespans. These generators also align with sustainability goals due to their use in renewable energy systems. As the global emphasis on energy efficiency and reliability grows, asynchronous squirrel cage induction generators remain a preferred choice, driving their demand across industries.

RESTRAINING FACTOR

"Relatively Lower Efficiency Compared to Newer Generator Technologies to Deteriorate Market Growth"

Despite their benefits, asynchronous squirrel cage induction generators face certain restraining factors. One limitation is their relatively lower efficiency compared to newer generator technologies like synchronous generators. This efficiency gap can impact overall energy production and increase operating costs.

Additionally, their inherent speed limitations limit their application in certain scenarios. Grid synchronization can be challenging, and reactive power compensation might be required. Moreover, while their robustness is an advantage, it can also lead to oversizing and underutilization in specific setups. These factors underline the importance of a well-informed generator selection process that considers specific operational needs and efficiency requirements.

Regional Insights

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"Europe to Dominate Market in Upcoming Years "

Europe stands out as a leading region for asynchronous squirrel cage induction generators. With a strong focus on renewable energy and sustainable practices, European countries have heavily invested in wind and hydroelectric power.

 Their established grid infrastructure and regulatory support for clean energy contribute to the widespread adoption of these generators. Countries like Germany, Denmark, and Spain have been pioneers in utilizing asynchronous squirrel cage induction generators in wind farms. The region's commitment to reducing carbon emissions and transitioning to cleaner energy sources ensures the continued prominence of these generators in Europe's energy landscape.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profile

• ABB (Switzerland)
• Siemens (Germany)
• Siemens (Germany)
• Wolong (China)
• Teco (Taiwan)
• Xemc (China)
• Nidec Motor Corporation (Japan)
• Hitachi (Japan)
• Shandong Huali Electric Motor Group (China)
• Toshiba (Japan)
• Tatung Co (Taiwan)
• Anhui Wannan Electric Machine (China)
• Jiangsu Dazhong Electromotor Stock (China)
• Jiangxi Tezhong Motor (China)
• Yaskawa Electric (Japan)
• NORD (Germany)
• Regal-Beloit (USA)
• SEW-Eurodrive (Germany)
• Zhejiang Jinlong Electric (China)
• Fujian Yuandong Electric Motor (China)

Report Coverage

The report provides an insight into industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. The report also lists the key industry players to understand the competition.