+1-888-308-5802     
News Contact Us

Generator Sets Market Expected to Witness the Highest Growth 2024

Author : Rahul Sankrityayan | Published Date : 2019-07-08 

Global Market Insights, Inc. has launched a report on Generator Sets Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.

Generator Sets Market size will surpass USD 35 Billion by 2024, as reported in the latest study by Global Market Insights, Inc.

Inadequate power supply along with accelerated demand for reliable and continuous power will stimulate the global generator sets market size. The industry is extensively driven on account of expanding population and urbanization on a global scale. Increasing intensity and frequency of weather-related disasters resulting in prolonged outages will further boost the product adoption.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/2381

440 pages

910 market data tables

32 figures & charts

The U.S. gensets market was valued over USD 4 billion in 2017. Aging electrical infrastructure along with deteriorating grid resiliency against natural calamities will propel the industry growth. For instance, Hurricane Irma, in September 2017, knocked out power to nearly two-thirds of the electricity customers of Florida. In addition, the inadequacy of the electrical grids to sustain an amplified demand load will further entail a wide-scale deployment of these units.

Growing adoption of backup power equipment to mitigate system downtimes, and loss of in-process information across datacenters will stimulate the global market growth. The installation of backup power has become paramount in the data centers with the increasing costs of outages. For instance, in 2016, the Delta Airlines data center suffered a loss of over USD 150 million as a result of an outage caused by an electrical failure.

Make an Inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2381

Growth drivers

 North America & Europe

  • Increasing intensity & frequency of weather related disasters
  • Escalating demand for data centers & rising costs of power outages

 Asia Pacific & Latin America

  • Rapid industrialization & infrastructure development
  • Burgeoning telecom infrastructure

 Africa

  • Unreliable grid infrastructure coupled with rapid population growth

 Industry pitfalls & challenges

  • High capital, installation & maintenance costs
  • Shifting trends toward renewable power generation

Gas gensets market is set to expand over 9 % by 2024. Increasing implications for energy security, concerns over fossil fuel consumption, along with growing focus toward cleaner fuel sources will propel the industry growth. Stringent emission compliances, most notably the EPA Emissions Standards and the EU Stage V limits will play an influential role in the industry expansion.

Europe gensets market is anticipated to grow over 6 % by 2024. Rising infrastructural investments along with recovering commercial & construction activities will provide an impetus to the industry. growth. Moreover, the ongoing proliferation of the IT infrastructure is further driving significant demand for gensets across the region. For instance, Amazon recently built a new data center in Frankfurt to comply with stringent German data protection laws.

The >1000 kVA generator sets market will continue to expand as the demand intensifies from industrial facilities with high-power requirements and remote areas where grid supply is inaccessible. Growing need for power solutions with quick and automatic start-up and optimum reliability will further expand the use of these units. Infrastructural development, robust industrialization, and booming construction activities will further favor the business outlook.

Nigeria market is projected to expand of over 13 % by 2024. Gensets constitute over three-quarters of the country’s primary electricity supply across households, businesses and public institutions. For instance, as per the 2017 Rural Electrification Agency (REA) audit, 7 federal universities rely on over 1000 generator sets as an alternative power source.

Notable industry participants across the gensets market include Caterpillar, Kirloskar, Briggs & Stratton, Generac, Honda, Kohler, Ingersoll Rand, Cummins, Yanmar, Manlift Group, Atlas Copco, John Deere, Mitsubishi amongst others.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

Related News

Marine Gensets Market Report by Type, Application and Regional Outlook 2025

Published Date: 2019-11-21         Author: Rahul Sankrityayan

Global Market Insights has recently published a study titled ‘Global Marine Gensets Market Research Report’. In this report, analysts have provided a detailed evaluation of the global Marine Gensets market. The report is inclusive of a completely comprehensive study of the Marine Gensets... Read More

Calcium Phosphate Market To Perceive Substantial Growth During 2025

Published Date: 2019-11-21         Author: Rahul Sankrityayan

Calcium Phosphate Market report provides a comprehensive landscape of the industry, accurate market estimates and forecast split by product, application, technology, region and end-use. All quantitative information is covered on a regional as well as country basis. The report provides valuable strat... Read More

Non-dairy Ice Cream Market Size, Analytical Overview, Growth Factors, Demand, Trends and Forecast to 2024

Published Date: 2019-11-21         Author: Rahul Sankrityayan

Non-dairy Ice Cream Market report provides a comprehensive landscape of the industry, accurate market estimates and forecast split by product, application, technology, region and end-use. All quantitative information is covered on a regional as well as country basis. The report provides valuable str... Read More

© 2019 Fractovia. All Rights Reserved