Permanent Magnet Generators Market: Snapshot
Energy consumption has observed a rapid rise over the years due to the constant increase in the global population. Swift industrialization and urbanization are also responsible for expansive energy consumption. Hence, the alarming need to find alternative sources of energy is increasing as the days pass.
Wind energy is a prominent source of clean and green energy. Wind turbines require permanent magnet generators for a smooth mechanism of energy production. Thus, the permanent magnet generators market may gain considerable growth during the forecast period of 2020-2030. Permanent magnet generators are utilized on a large scale in wind turbine systems and hydro turbine systems.
This report displays extensive growth factors to the stakeholders and CXOs that help them achieve substantial growth in the permanent magnet generators market. The exhaustive analysis of each aspect related to the permanent magnet generators market’s growth will be presented in this report. A detailed analysis of TMRs (Trends, Manufacturers, and Regions) associated with the permanent magnet generators market is included in the report.
It also includes points about the COVID-19 impact on the permanent magnet generators market and the vital threats that the permanent magnet generators market may face between 2020 and 2030.
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Permanent Magnet Generators Market: Competitive Analysis
The permanent magnet generators market is a vast arena with substantial players in the ring for achieving a prominent position among the end-user base. The players consider diverse factors during the production of permanent magnet generators to make their products stand out from others. Research and development activities form an important factor in developing these generators.
Mergers and acquisitions also play a crucial role in inviting growth. For instance, USA Rare Earth, LLC, recently acquired permanent magnet manufacturing equipment from Hitachi Metal America, Ltd. Some well-established players in the permanent magnet generators market are Windstream Power LLC, Hyosung Power & Industrial Systems PG, THE SWITCH, RAMME Electric Machines GmbH, and PM-Generator, Germany.
Permanent Magnet Generators Market: Recent Developments
A range of developments have taken place across the permanent magnet generators market in recent times. These developments have the potential to add extra stars of growth to the permanent magnet generators market. Some of the major developments are as follows:
- China recently developed a 10MW permanent magnet generator for offshore wind turbine
- Enercon announces supply of E-160 EP5 E2 wind turbines powered with a 5.5 MW permanent magnet generator to Vietnam’s largest wind power plant
- A permanent magnet generator concept by Greenspur Renewables could assist the developers in designing massive 25 MW offshore wind turbines
- Germany plans to test 20 MW wind turbines soon, for which the German energy ministry has funded $13.7 mn
Permanent Magnet Generators Market: Geographical Insights
The permanent magnet generators market in Asia Pacific may generate promising growth across the forecast period of 2020-2030. China and India are scaling up their renewable energy mechanisms. Huge investments and supportive government policies in terms of renewable energy may increase the demand for permanent magnet generators in the region.
Furthermore, India aims to achieve a target of 175 GW of renewable energy installations by 2022. This aspect highlights the bright future of the permanent magnet generators market in Asia Pacific. North America and Europe may also record substantial growth due to large-scale renewable energy projects across numerous countries.
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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.