Induction Generator Market is Set to Grow US$ 5,981 Million By 2035, With An 5.8% CAGR | Fact.MR Report

Induction Generator Market grows with renewables boom; demand for cost-effective, durable power drives industrial electrification and energy transition trends.

ROCKVILLE, MD, UNITED STATES, May 14, 2025 /EINPresswire.com/ -- According to Fact.MR, a market research and competitive intelligence provider, the induction generator market was valued at USD 3,217 million in 2024 and is expected to grow at a CAGR of 5.8% during the forecast period of 2025 to 2035.

Induction generators are used significantly in recent power generation systems because they are rugged, simple, and inexpensive. They eliminate the need for separate excitation systems, and are a popular choice for small and medium sized applications, such as wind farms, micro-hydro plants, and backup power facilities. The compactness, the low maintenance, the high operating efficiency at variable speed, make them particularly attractive for renewable energy projects, rural electrification, and many more. Induction generators are preferred for generating power on decentralized basis in the case of industries particularly in areas where the grid is not present or difficult to reach of central electricity or places where there is no good supply of energy.

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The induction generator industry is growing commercially because people are turning towards sustainable energy generation and energy efficient power systems. OEM's and integrators are incorporating these generators with other energy sources such as solar, and biomass, and where possible, with battery storage to achieve continuous, constant output.

Mining, agriculture, and marine transport sectors are adopting induction generators in order to increase operational reliability and reduce emission. Due to their adjustability over voltage levels and capability to operate in conjunction with reactive compensation devices, such as capacitors, they can also be considered practically indispensable in the commercial standpoint, for the employment in different grid conditions.

There are good prospects for the market of an induction generator, due to the increasing transition to renewable energy and off-grid power generation systems. One of the drivers is global efforts to generate electricity in a sustainable fashion – particularly in the developing world – where low-cost, zero maintenance generation technologies, such as induction generators, is an extremely attractive solution (both on-grid and off-grid).

Key Takeaways from Market Study

The induction generator market is projected to grow at 8% CAGR and reach USD 5,981 million by 2035, The market created an absolute $ opportunity of USD 2,578 million between 2025 to 2035

North America is a prominent region that is estimated to hold a market share of 2% in 2035, North America is expected to create an absolute $ opportunity of USD 727.8 million

“Growing demand for reliable decentralized power generation, cost-effective renewable energy systems, and durable electrical machinery, along with stricter efficiency and sustainability standards in industrial, agricultural, and remote energy applications, will drive the induction generator market.” says a Fact.MR analyst.

Leading Players Driving Innovation in the Induction Generator Market:

Key players in the induction generator industry include ABB Ltd., Alstom SA, Caterpillar Inc., Doosan Heavy Industries & Construction Co., Ltd., Emerson Electric Co., Fuji Electric Co., Ltd., General Electric Company, Hyundai Electric & Energy Systems Co., Ltd., Kirloskar Electric Company Ltd., Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, Toshiba Corporation.

Market Development

Interesting trends and developments are gradually emerging even in the market for induction generators, with major players joining hands with specialist electrical engineering and advanced material technology firms. Key projects include continued development and commercialization of high-efficiency, surface-treated induction generators matched to renewables; customized systems for the microgrid; and the stipulation of power for aerospace auxiliary power needs.

Pack-based designs also cater to niche application in decentralized energy generation, mobile power solutions, and high-performance industrial electronics, as suppliers expand offerings to include more flexible and compact designs. Attention is directed towards the production of smart, filled and doped type systems for new functional requirements and regulations. Local markets are being standardized according to regional sustainability policies but are not neglecting global quality, durability and performance criteria.

For example, in December 2024, ABB announced its agreement to acquire the power electronics business of Gamesa Electric from Siemens Gamesa. This strategic acquisition includes key technologies such as Doubly-fed Induction Generator (DFIG) wind converters, industrial battery energy storage systems (BESS), and utility-scale solar inverters. The move aims to enhance ABB's renewable power conversion portfolio, adding significant market reach and expanding its serviceable installed base by approximately 40 GW. The transaction is expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the the Induction generator market, presenting historical data for 2020 to 2024 and forecast statistics for 2025 to 2035.

The study reveals essential insights on the basis of the Power Rating (<10 Kw, 10–100 Kw, 100–500 Kw), Application (Wind Energy Generation, Hydroelectric Power Plants, Industrial Drives, Alteative Energy Solutions) Phase Type (Single-Phase, Three-Phase), Type (Asynchronous Induction Generators, Synchronous Induction Generators), Across Major Regions of the World (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and Middle East & Africa).

Check out More Related Studies Published by Fact.MR

The global generator market will experience continuous growth throughout the forecast period, which will result in values reaching USD 37.78 billion in 2025 and USD 64.53 billion in 2035 at a stable compound annual growth rate (CAGR) 5.5%.

The global wind turbine generator market size has been calculated to increase from US$ 23.6 billion in 2024 to US$ 39.9 billion by the end of 2034. As per this latest research report by Fact.MR, the market is projected to expand at a CAGR of 5.4% from 2024 to 2034.

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