Generator Sets Market – Analysis and Forecast (2016-2024)
Generator Sets Market is estimated to surpass $ 25.0 Billion mark in 2019 and reach USD 38.0 Billion by 2024, at a Compound Annual Growth Rate (CAGR) of 9.6% during the forecast period 2016-2024 globally.
Growing demand for continuous and reliable power supply driven by inadequacy of electrical grid infrastructure will stimulate the Generator Sets Market size. The industry is primarily driven by rapid industrialization, expanding population base and rising frequency of chronic power shortages. According to the International Energy Agency (IEA), electrical grid supply is reported to be unavailable for over 540 hours per year across the sub-Saharan Africa region.Generator Sets Market Growing digitization accompanied by exponential expansion across the data center infrastructure will drive the generator sets market growth.
REQUEST FOR FREE SAMPLE REPORT: https://www.maximizemarketresearch.com/request-sample/11256
Rapid deployment of gensets as a backup source of power across the financial services firms, insurance companies, and IT services will positively impact the business scenario. Ability to effectively backup power interruptions including electrical outages or voltage fluctuations will accelerate the deployment of generator sets. Growing dependency on digitization along with a steady upsurge in data center outages cost will significantly boost the gensets adoption. According to the Ponemon Institute, an average data center outage cost has dramatically increased by over 38 percent from USD 505 thousand in 2010 to USD 740 thousand in 2015. The burgeoning expansion of the data centers sector is invariably accompanied by significant growth in the global market.
The ongoing deployment of gensets across the industrial sector as a source of prime power generation will fuel the industry growth. These units are being increasingly installed in multiple industries including mining, oil & gas, a construction where grid access is limited. Rapid industrialization along with increasing investments toward infrastructural development will propel the global market.
Generator Sets Market2DC generators sets market is predicted to expand over 6% by 2024. Simple design and construction, optimum fuel efficiency, and ease of parallel operation are some of the defining features supporting the industry growth. Operational ability to provide integrated power solutions with renewables including wind and solar power will further boost the product penetration.
North America Generator Sets Market accounted for the highest revenue in 2017 and is projected to grow at a significant rate during the forecast period. U.S. generator sets market, in 2017 was valued over USD 4 billion. Increasing severity and frequency of weather-related disasters have significantly necessitated the adoption of generator sets across the country. For instance, in September 2017, Hurricane Maria, a Category 4 storm hit hard Puerto Rico leaving over 1.57 million electricity customers without power. As per the Edison Electric Institute, weather-related events account for over 70 percent of power outages in the U.S.
Maximize Market Research has comprehensively analyzed Generator Sets Market emphasising on each segment keeping global and regional dynamics in perspective. The driving forces, as well as considerable restraints, have been explained in depth to attain a balanced scenario. The report classifies Global Generator Sets Market into various segments such as Current, Fuel, Power Rating, Application, End-Use and Regions providing the thorough understanding of the Generator Sets Ecosystem. Importantly, the report delivers forecasts of the market, giving an insight into the future opportunities that exist in the Global Generator Sets Market.
DO INQUIRY BEFORE PURCHASING REPORT HERE: https://www.maximizemarketresearch.com/inquiry-before-buying/11256
The scope of the Generator Sets Market:
Generator Sets Market By Current:
DC, AC (Single Phase, Poly Phase)
Generator Sets Market By Fuel:
Gasoline, Diesel, Gas
Generator Sets Market By Power Rating:
<50 kVA, 50-300 kVA, 300-1000 kVA, >1000 kVA
Generator Sets Market By Application:
Backup, Prime Power
Generator Sets Market By End-Use:
Residential, Commercial, Industrial
Generator Sets Market By Geography:
North America, Europe, Asia Pacific, Middle East & Africa and Latin America
Key Players of the Generator Sets Market
AKSA Power Generation
Briggs & Stratton Corporation
Caterpillar Inc.
Cooper Corporation
Cummins Inc.
Doosan Corporation
Generac Power Systems
General Electric Corporation
Honda Power Equipment
Kirloskar Oil Engines Limited
Kohler
Ingersoll Rand
Yanmar
Sterling
Success Stories: Key Industry Players:
Briggs & Stratton Corporation
Caterpillar Inc.
Cooper Corporation
Cummins Inc.
Kohler
MAJOR TOC OF THE REPORT
Chapter One: Generator Sets Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Generator Sets Market Competition, by Players
Chapter Four: Global Generator Sets Market Size by Regions
Chapter Five: North America Generator Sets Revenue by Countries
Chapter Six: Europe Generator Sets Revenue by Countries
Chapter Seven: Asia-Pacific Generator Sets Revenue by Countries
Chapter Eight: South America Generator Sets Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Generator Sets by Countries
Chapter Ten: Global Generator Sets Market Segment by Type
Chapter Eleven: Global Generator Sets Market Segment by Application
Chapter Twelve: Global Generator Sets Market Size Forecast (2019-2026)
Browse Full Report with Facts and Figures of Generator Sets Market Report at: https://www.maximizemarketresearch.com/market-report/generator-sets-market/11256/
About Us:
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Contact info:
Name: Lumawant Godage
Organization: MAXIMIZE MARKET RESEARCH PVT. LTD.
Email: [email protected]
Contact: +919607065656/ +919607195908
Website: www.maximizemarketresearch.com
