Generator Sets Market Size Worth USD 34 Billion by 2024

Market Study Report Release Global Generator Sets Market Size, Status and Forecast 2024 new report to its research database provided with 440 pages including table and figures in it.

Inadequate power supply, unreliable grid infrastructure coupled with escalating demand for invariable power will stimulate Generator Sets Market. The industry is extensively driven by the rapidly expanding global population and urbanization worldwide. Strengthening need for self-generating power to combat chronic power shortages will further boost the product penetration.

Request a sample copy of Generator Sets Market Research Report @ https://www.marketstudyreport.com/request-a-sample/797209/?utm_source=opr-SK

Generator Sets Market will exceed USD 34 Billion by 2024; according to a new research report.

The U.S. market is set to witness a growth of over 4% by 2024. Rapid recurrences of natural adversities resulting in prolonged power outages has entailed an extensive installation of gensets. In September 2017, Hurricane Maria, a Category 4 storm vandalized nearly 80 percent of Puerto Rico power transmission lines. The storm led to the longest outage in the U.S. history leaving more than 1.57 million electricity customers without power.

Sizeable government investments in backup power generation to mitigate the risks of blackouts and support load shedding during peak times will augment the market. In 2017, the Government of Australia announced an energy plan worth USD 550 million to bring online temporary back-up power generators to reinforce the country’s power reliability.

Gas generator sets market is predicted to expand over 9 % by 2024. Natural gas is being increasingly used as an alternative energy source to replace conventional fossil fuels including diesel and gasoline. The growing inclination toward natural gas as a fuel source is attributed to stringent government regulations restricting the use of other counterparts.

Enquire about this report @ https://www.marketstudyreport.com/enquiry-before-buying/797209/?utm_source=opr-SK

Growing dependency on digitization along with steady upsurge in data center outages cost will significantly boost the gensets adoption. According to 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, construction where grid access is limited. Rapid industrialization along with increasing investments toward infrastructural development will propel the global market.

Polyphase gensets will witness an appreciable growth owing to their operational suitability in wide ranging applications. The product is predominantly deployed across commercial and industrial sectors on account of their high flexibility, material efficiency and ability to support high power requirements.

High electricity costs, poor transmission & distribution networks along with rapid population growth across developing economies will positively impact the market growth. Increasing energy consumption coupled with inadequate installed capacity will further complement the business outlook.

Key participants in the market include, Generac, Kirloskar, Cummins, Briggs & Stratton, Kohler, Caterpillar, Yanmar, Sterling, John Deere, Mahindra Powerol, Mitsubishi, America Honda Motor.

For more information on this report, please visit @ https://www.marketstudyreport.com/reports/generator-sets-market/?utm_source=FR-SK

Related Reports: -
Global Generator Sets Market Research Report 2017
In this report, the global Generator Sets market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Geog...
https://www.marketstudyreport.com/reports/global-generator-sets-market-research-report-2017/?utm_source=RR-SK

About Us:
Centralize market research purchases across your entire organization in one place. Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.

Market Study Report
The Green Suite #4594,
Dover, DE 19901
United States
Phone: 1-201-355-0868
US Toll Free: 1-866-764-2150
Email: sales@marketstudyreport.com
Website: https://www.marketstudyreport.com
News: https://www.marketstudyreport.com/category/news-releases/

This release was published on openPR.