According to the new market research report “Generator Sales Market by Type (Diesel, Gas), Application (Standby, Peak Shaving, Continuous), Power Rating (<100 KVA, 100-350 KVA, 350-1000-2500 KVA, 2500-5000 KVA, >5000 KVA), End-User (Residential, Commercial, Industrial)- Global Forecast to 2024″ published by MarketsandMarkets™, the global generator sales market is expected to grow at a CAGR of 5.60% during the forecast period. It is estimated to be USD 22.3 in 2019 and is projected to reach USD 29.3 by 2024. The major factors driving the generator sales market include the growing demand for uninterrupted and reliable power as some of the best power grids are also subject to downtime, growth of healthcare infrastructure, rising demand for IT infrastructure management, and rapid urbanization in developing countries.
The other fuel type segment which includes propane, LPG, and bio-diesel is expected to be the fastest growing fuel segment of the generator sales market from 2019 to 2024. Countries around the world have set emission reduction targets and are working toward achieving these targets, which has resulted in the increased share of environmentally friendly fuel for power production. Countries such as the US, Brazil, Canada, Germany, France, and the UK are expected to increase their focus on environmentally friendly technologies, driving the market for propane, LPG, and bio-diesel-powered generators during the forecast period.
Browse and in-depth TOC on “Generator Sales Market”
82 – Tables
35 – Figures
148 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=47544335
The industrial segment is expected to be the fastest growing generator sales market, by end-user, during the forecast period. The industrial end-user segment includes the utility/power generation, oil & gas, and other industries such as mining, marine, chemicals, military, and manufacturing. Growth of the oil & gas sector in China, Mexico, the US, Canada, and African countries is creating a new market for generator sets. Also, the growth of the manufacturing sector in Asia Pacific is expected to drive the demand for generators.
The 1,000–2,500 kVA power rating segment is expected to be the fastest growing segment of the generator sales market during the forecast period. 1,000–2,500 kVA generators are mainly used for CHP plants, large manufacturing units, power plants, and marine applications. The above 1,000–2,500 kVA generators are economical and can be deployed for continuous power applications. The adoption of natural gas and other renewable gases for the 1,000–2,500 kVA generators is the major reason for the fastest growth projection of the segment during the forecast period.
Request Sample Pages of the Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=47544335
Asia Pacific is expected to be the fastest growing market for generator sales from 2019 to 2024, followed by the Middle East & Africa. Countries such as the US, China, Canada, Saudi Arabia, Russia, Germany, and India are the largest markets for generator sales. India and China are rapidly developing large economies. Both countries are implementing policies to boost their industrial sectors. Inadequate power transmission & distribution networks in developing countries in Asia Pacific are also expected to create a demand for generator sets. Due to these factors, Asia Pacific is projected to grow at the highest CAGR during the forecast period.
The leading players in the generator sales market include Caterpillar (US), Cummins (US), Rolls-Royce (UK), Mitsubishi (Japan), Yanmar (Japan), and Kohler (US).
Please Explore Relevant Report:
Portable Generator Marketby Fuel (Gasoline, Diesel, Gas), Application (Emergency, Prime/Continuous), Power Rating (below 5 kW, 5–10 kW, 10–20 kW), End-User (Residential, Commercial, Industrial), and Region- Global Forecast to 2024
Power Rental Marketby Fuel (Diesel & Gas), Power Rating, Equipment, End Users (Utilities, Oil & Gas, Events, Construction, Mining, Manufacturing, Shipping, Data Center), Application (Peak Shaving, Base Load, Standby), Region – Global Forecasts to 2023
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.