Generator Sales Market Research Report and Growth Analysis 2022 by Type (Continuous, Stand By and Peak Shave), by Fuel (Diesel and Gas), by End-use (Residential, Commercial and Industrial), by Portability (Stationary and Portable), and Region – Global Forecast till 2030
Generator Sales Market Analysis:
Generator Sales Market is projected to be worth USD 33.54 billion by 2030, registering a CAGR of 6.67% during the forecast period (2021 – 2030).
Generators are equipment able to provide backup power to areas experiencing outages frequently or irregularly. Generator sales have multiplied due to rapid industrialization and urbanization. The global generator sales market report by Market Research Future (MRFR) provides insights to clients within the industry as well as new entrants planning to make an impact in the power generation sector. The COVID-19 pandemic and its effects on the generator sales industry are written in high detail.
These are key players of the global generator sales market.
Launch of new products and adherence to environmental agency regulations are major priorities of players.
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Generator Sales Market Scope
The COVID-19 pandemic has negatively affected the generator sales market owing to a huge dip in generator demand. National lockdowns initiated by governments has led to shutdown of large industries such as construction, tourism, hospitality, and oil & gas leading to sluggish demand. But the reopening of sectors can revive the industry over the forecast period.
The demand for continuous power is likely to drive the sales of generators worldwide. Rapid industrialization and establishment of power grid projects provide the market ample space to flourish. The oil & gas sector is one of the biggest benefactors of generators due to its requirement of power at peak hours and need in functioning of the value chain. For instance, Siemens has developed generators capable of operating at 5 MW.
Adoption of energy storage technologies and renewable energy can hamper the market growth.
Generator Sales Market Segmentation
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Generator Sales Market Regional Analysis:
North America, Europe, Asia-Pacific (APAC), and the Middle East & Africa (MEA) are regions considered for the global generator sales market.
APAC can account for the largest market share due to high demand for diesel and gas generators in China. New policies for subsidizing investments in India and influx of new cashflow can bode well for the generator sales market.
The MEA region is expected to follow APAC in demand owing to a flurry of investments in smart cities and new industries. Huge need for backup generators in sub-Saharan countries and popularity of hybrid generators can drive regional market growth.
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AFC Energy has partnered with Mace Group for development of diesel generators derived from ammonia.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and about what action to take based on these aspects.