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Unlocking Growth: Exploring Trends and Opportunities in the Global Generator Sales Market
Generator Sales
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the generator sales industry. This report on generator sales market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The generator sales market size has grown steadily in recent years. It will grow from $23.96 billion in 2023 to $24.93 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to power outages and grid reliability, aging infrastructure, industrial growth, extreme weather events, increased construction.
The generator sales market size is expected to see steady growth in the next few years. It will grow to $29.45 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to aging generators replacements, energy storage systems, off-grid solutions, telemedicine and connectivity, regulatory compliance.
Major trends in the forecast period include smart generators, hybrid power systems, microgrid development, grid-interactive generators, increased generator rental services, data-centered generators.
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Key Market Players:
Kohler Co., Mitsubishi Heavy Industries Ltd., Rolls-Royce Holdings PLC, Siemens AG, Toshiba Corporation, Caterpillar Inc., Cummins Ltd., Generac Holdings Inc.
Market Drivers:
According to the Generator Sales Market Report 2024 by The Business Research Company, The increasing demand for telecommunications is expected to propel the growth of the generator sales market. The demand for telecommunications is growing due to various reasons such as growing demand for communications and collaborations, rising spending, growth of electronic devices, advancements in technology, push from the government, and others. This rise in demand for telecommunications will create a significant need for generators as telecommunication infrastructures such as telecom stations, and data centers as well as telecom equipment such as electronic machines, and computers need a continuous power supply and backup for effective operation. For instance, according to a report by the Indian Brand Equity Foundation (IBEF), an Indian Government export promotion agency, the rural subscriber teledensity increased to 60.33% in July 2021 from 59.14% in July 2020. Additionally, it is expected 350 million 5G subscriptions in India will exist, making up about 27% of all mobile subscriptions by 2026. Therefore, the increasing demand for telecommunications will drive the growth of the generator sales market.
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Market segments for generator sales include:
1) By Fuel Type: Diesel, Gas, Other Types
2) By Sales Channel: Direct, Indirect
3) By Application: Standby, Prime And Continuous, Peak Shaving
4) By End User: Industrial, Commercial, Residential
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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