Synchronous Generator Market Trends

Growth Drivers

• Rising Focus on Energy Efficiency – Manufacturers have been creating industrial synchronous generators with improved efficiency in response to the increased need for energy-efficient solutions, that can generate utility-grade electricity without the need for an external power grid.
• For instance, in power plants, synchronous generators operate at around 98% efficiency, which means only 1% of the energy is lost as waste heat.
• Growing Marine Industry- High efficiency and dependability are provided by synchronous generators in maritime facilities and are also used to share loads and bring generators in parallel.
• Increasing Usage as a Power Backup Source- Energy from mechanical sources can be transformed into electrical energy via a synchronous generator which is frequently employed in hospitals, data centers, telecom networks, and apartment buildings as backup power supplies.
• Surging Demand for Electric Vehicles- A type of alternating current (AC) motor renowned for its simplicity and excellent efficiency is the Synchronous Reluctance Motor (SynRM), which is gaining a lot of attention lately and is a respectable substitute for electric and hybrid cars.

Challenges

• Presence of Alternatives such as Renewable Energy Sources- Our climate, health, and environment all greatly benefit from renewable energy, which includes wind, solar, geothermal, hydropower, and biomass as they create less pollution, and their installations often require less maintenance compared to conventional generators, renewable energy. Moreover, noise pollution and carbon emissions are two major environmental effects of synchronous generators, as they are usually powered by common fossil fuels such as natural gas or coal.
• Strict environmental regulations may encourage the adoption of sustainable energy technologies
• Exorbitant initial cost compared to other generators which may limit the adoption of synchronous generator