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Generator Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Russia, UK, Germany, France, Italy, China, India, Japan, Indonesia, South Korea, South Africa, Brazil), Application Opportunities, Competitive Market Share and Forecast, 2016 – 2024
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Generator Market Trend and Forecast 2017-2024 Generator Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Russia, UK, Germany, France, Italy, China, India, Japan, Indonesia, South Korea, South Africa, Brazil), Application Opportunities, Competitive Market Share and Forecast, 2016 – 2024
Global Market Scenario of Generator • Global Generator Market size is anticipated to witness growth owing to increasing demand for continuous and stable power supply. Rapid industrialization and urbanization are responsible to encourage electricity demand. • Increasing demand for off grid infrastructure in remote areas will propel global generator market share. • In sub-Saharan Africa, more than 600 million people live without electricity access. • Rising concerns for environmental pollution coupled with strict regulatory framework may hamper the growth of global generator market. • Increased government regulations concerning with environmental pollution may also among the major restraint. Industry has witnessed several merger, acquisition and joint venture strategies to enhance their business presence. • In January 2017, Generac Power Systems has acquired Motor tech, a global supplier of gaseous fueled generators to expand their business.
Product Analysis:- • generator market can be segmented into single phase and three phase generators. Single phase generators is expected to witness growth owing to its wide application in small industries and residential sector. Three phase generators market is anticipated to witness growth on account of rapid industrialization along with increasing electricity demand. It finds wide application in commercial sector. • Based on fuel, generator market can be segmented into gasoline, natural gas, propane and diesel. Diesel generator may will witness significant growth due to excellent engine life, higher fire and personal safety features. Ease fuel availability may further complement the industry outlook. It finds application in numerous fields including aviation, healthcare, datacenters and marine. • Regional Trends:- • The U.S. generator market size will witness significant growth owing to increased industrial and military spending as the U.S. recovers from global financial crisis. In 2015, the U.S. spent around USD 600 billion on military. • Europe generator market is expected to witness substantial growth on account of increasing emphasis towards renewable energy technology adoption.
Competitive Trends: • Major participants in generator market include American Honda Motor, Cummins, General Electric, Yamaha and Perkins Engines, Siemens AG, Generac Power Systems, ABB and Hyundai Power Equipment.
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