Induction generator is an asynchronous generator. An induction machine can work as an induction motor as well as an induction generator without any internal changes or modifications. Induction generators are uneven and rugged; thus, they do not require commutation and brush. Induction generators require large amount of reactive power. This can damage the entire system. This is one of the major disadvantages of induction generators. Induction generator works on the principle of induction motor to generate electricity by using an alternating current. It is used in wind power plants, macro or mini hydro power plants, wind turbines, etc. Induction generator is also used in converting high pressure gas stream to lower pressure, and thus recovering energy with marginal controls. When connected with a capacitor, induction generator can generate sufficient reactive power to operate on its own.
Induction generator has the ability to produce useful power at varying rotor speed. This makes it suitable for wind turbines and some micro and mini hydropower installations. Induction generators are simpler than other type of generators, i.e. mechanical and electrical. Rapid population growth, increase in demand for electricity, rise in number of power outages, growth in volume of off-grid power consumption, and implementation of strict government regulations to minimize harmful emissions are the primary drivers of the induction generator market. Demand for induction generator is also driven by the price of fuels such as diesel and natural gas. Rapid rise in adoption of renewable energy resources in residential, commercial, and industrial sectors is also expected to boost the global demand for induction generators through integration of generators with renewable energy systems.
The induction generator market can be divided based on type, application, and end-user industry. Based on type, the market can be segregated into squirrel cage induction generator and wound rotor induction generator. In terms application, the market can be bifurcated into on-grid and off-grid. In terms of end-user industry, the induction generator market can be split into wind power, paper mill, water utilities, and others. Squirrel cage induction generators has no separate field circuit. This is a key disadvantage. These induction generators are widely utilized in wind power generation. Wound rotor induction generator consists of a stator, which is same as the squirrel cage induction motor. However, the rotor is different when compared to squirrel cage induction motor and has insulated windings coupled with slip rings and brushes. Induction generator is being increasingly used as a means of recovering energy that would otherwise be lost. Power generated through the use of induction generator may be consumed on site or can be sold to on-grid utility. Wind and water driven induction generators are being used to convert that energy into electrical energy.
Year-on-year increase in wind energy based power generation across the globe is the prominent driver of the sales of induction generators. Developed countries such as the U.S., the U.K., and Germany have started adopting off-grid power systems to reduce dependence on utility-scale electricity. This has boosted the sales of induction generators in these countries. Countries in Asia Pacific, especially China, experience high demand for induction generator. This demand is anticipated to increase further in the next few years. The U.S. dominates the induction generator market in North America in terms of production and installation.
Rise in demand for electricity cannot be met by the existing grid infrastructure. This has created the need for efficient generators. These generators can be utilized during power outages. Increase in demand for electricity and efficient quality of power generating products are some of the factors propelling the induction generator market.
Key players operating in the induction generator market include Briggs & Stratton Corporation, Caterpillar Inc., Cummins Inc., Generac Holdings, Inc., Kirloskar Electric Company Ltd., and Wärtsilä Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.