DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Generator Sales Market by Type (Diesel, Gas), Application (Standby, Peak Shaving, Continuous Power), Power Rating (<100, 100-350, 351-1,000, >1,000 kVA), End-User (Residential, Commercial, and Industrial), and Region - Global Forecast to 2021" report to their offering.
The generator sales market is projected to reach USD 24.45 billion by 2021, growing at a CAGR of 5.7% from 2016 to 2021.
Generators can be used in standby, prime, continuous, and peak shaving applications in various end-use sectors such as the industrial, manufacturing, and residential sectors. Increasing demand for uninterrupted and reliable power supply, growth of healthcare infrastructure, rising demand for data centers and IT facilities, and rapid urbanization in developing countries is expected to drive the generator sales market. Limited power generation capacity is a major restraint for the generator sales market. Also, increasing transmission and distribution expenditure in major developing countries can adversely affect the growth of the generator sales market during the forecast period.
Based on end-users of the generator sales market, the industrial end-user segment is estimated to be the fastest growing market from 2016 to 2021. The industrial end-user segment includes utility/power generation, the oil & gas industry, and others, which includes industries such as mining, marine, chemical, military, and manufacturing. Growth of the industrial sector in the Asia-Pacific region and the Middle East & Africa region is expected to drive the generator sales market.
Asia-Pacific is currently the largest market for generator sales followed by North America, the Middle East & Africa, and Europe. The market in the Asia-Pacific region is projected to grow at a higher rate, with China expected to dominate the market. The growth of the industrial and manufacturing sectors in countries such as India, China, and Taiwan are expected to fuel the generator sales market.
- Growing Demand for Uninterrupted and Reliable Power Supply
- Growth of Healthcare Infrastructure
- Rising Demand for Data Centers and IT Facilities
- Rapid Urbanization in Developing Countries
- Limited Power Generation Capacity
- High Maintenance and Operating Cost
- Rise in T&D Expenditure
- Rural and Remote Area Electrification in Developing Countries
- Bi-Fuel Generator and Inverter Generator
- Rise in Captive Power Plants
- Stringent Government Regulation
- Improving Energy Storage Systems
- Remote Management
- Generator Paralleling Technology
- Hybrid Generators
- Briggs & Stratton Corporation
- Caterpillar, Inc.
- Cummins, Inc.
- Generac Holdings, Inc.
- General Electric
- Honda Motor Co., Ltd.
- Kirloskar Electric Company Ltd.
- Kohler Co.
- MQ Power Corporation
- Mitsubishi Heavy Industries, Ltd.
- Rolls-Royce Holdings PLC. (MTU Onsite Energy)
- Wacker Neuson
- Wärtsilä Corporation
- Yanmar Co., Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/7k9dt2/generator_sales