Synchronous Generator Market Outlook:
Synchronous Generator Market size was over USD 5 billion in 2024 and is anticipated to exceed USD 9.4 billion by the end of 2037, witnessing over 5% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of synchronous generator is evaluated at USD 5.2 billion.
The global synchronous generator market growth is being driven due to rising demands for reliable grids and more renewable energy. Investment from players is moving toward flexible and modular generation units designed for use in hybrid and microgrids. In July 2024, ABB introduced a 20 MW modular synchronous generator that can be equipped with a flywheel system to help stabilize the flow of electricity. This can help reduce the need to use expensive power at peak times. Businesses are adjusting their products to meet new regulations and efforts to reduce emissions. Meanwhile, developing countries are turning to synchronous generators to improve their old infrastructure. Such transitions demonstrate a wide range of opportunities for different regions and sectors.
Many countries are reviewing their electricity grid policies and standards to support the use of synchronous generators, mainly in small-scale power grids. In February 2023, ANDRITZ Hydro was awarded a contract by TEPCO Renewable Power, Inc. to supply a hydropower generation system for the Tashirogawa Daiichi Power Plant in Japan. With electrification advancing in maritime, rail, and industrial systems, more demand is being seen for compact, rugged, and fuel-neutral synchronous generators. At the same time, digital control technology and easy-to-maintain products are becoming common. At the international level, governments are updating regulations to help improve standards.
