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Global Variable Speed Generators Market to Reach $10.1 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Variable Speed Generators estimated at US$7.1 Billion in the year 2020, is projected to reach a revised size of US$10.1 Billion by 2027, growing at a CAGR of 5.2% over the analysis period 2020-2027. Renewable Power Generation, one of the segments analyzed in the report, is projected to record a 5.8% CAGR and reach US$3.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Hydroelectric Power Generation segment is readjusted to a revised 4.5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.9 Billion, While China is Forecast to Grow at 9.2% CAGR
The Variable Speed Generators market in the U.S. is estimated at US$1.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.1 Billion by the year 2027 trailing a CAGR of 9.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.1% and 5.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.3 Billion by the year 2027.



Marine & Shipbuilding Segment to Record 4% CAGR
In the global Marine & Shipbuilding segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$916.3 Million in the year 2020 will reach a projected size of US$1.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 5.1% CAGR through the analysis period.