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Generator Market Analysis Report & Forecast, 2017 – 2024

05-03-2017 11:16 AM CET | Energy & Environment

Press release from: Global Market Insights, Inc

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.

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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.

Based on type, 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.

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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.

Based on applications, generator market can be segmented into commercial, military, residential, industrial, marine and others. Industrial and commercial segment is anticipated to experience significant growth owing to increasing investment in infrastructure sector by Asia, Africa and Latin America. In 2016, Argentina announced to spend USD 26 billion to revamp its power sector.

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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. Generators find wide ranging applications in military including refrigeration facilities, tent cooling and shore power. Increased industrial spending will further boost industry growth.

Europe generator market is expected to witness substantial growth on account of increasing emphasis towards renewable energy technology adoption. Intermittent availability of renewable resources including wind and solar has led the demand for generator as power backup system. Increased adoption of solar energy in countries including UK, Germany and France will boost industry outlook.

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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.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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