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North America will Continue to Dominate Global Generator Market || Key Players: Doosan Corporation, Cooper Corporation, and AKSA Power Generation.
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For boosting their sales and acquire a competitive edge, manufacturers of generators are leveraging this requirement of industries for reducing their operations downtime because of power outage. One of the most significant challenges hindering the market expansion is mounting regulations on use of diesel generators. With growing emphasis on green technologies and reduction of GHG emissions, diesel-powered generators may witness a decline in demand. Focus on using renewable energy resources such as wind and solar energy will further create barriers to adoption of generators in the near future.
A new report by Fact.MR has slated that the generator market will ride on an average 4.5% CAGR, in terms of volume, during the forecast period (2017-2026). In terms of value, sales of generator across the globe are poised to reach approximately US$ 39,000 Mn in revenues by 2026-end.
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There has been a substantially high demand for generators in North America for use in commercial establishments and industries, for reducing operation downtimes and increasing productivity. In addition, robust economic vigour of the region further facilitates the commercial, industrial and residential sector in adoption of this expensive equipment. North America will continue to dominate the global generator market, in terms of revenues. Asia-Pacific excluding Japan will remain fastest expanding market for generator, in terms of value.
Rapid industrialization worldwide is stoking demand for power supply. Industries are increasingly adopting power storage and supply equipment such as generators, in order to sustain themselves during power cuts fuelled by supply demand unbalance and poor grid maintenance. In terms of value, industrial end use of generators will account for the largest share of the global market, followed by commercial end use.
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Key market players identified by Fact.MR’s report include Yamaha Motor Corporation, SDMO, Mitsubishi Heavy Industries Ltd., Kubota Corporation, Kirloskar Oil Engines Limited, General Electric Corporation, Doosan Corporation, Cooper Corporation, and AKSA Power Generation.
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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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