LONDON--(BUSINESS WIRE)--The global stationary generator market is expected to post a CAGR of more than 6% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global stationary generator market size is the rising demand for uninterrupted power. With the growing focus on economic development, there have been significant investments related to industrialization, which have led to an increase in demand for energy across the world. There is a high need to mitigate power interruptions, which will boost the demand for stationary power generators leading to market growth.
As per Technavio, technological advances in generators will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global stationary generator market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global stationary generator market: Technological advances in generators
The stationary generator market is witnessing a range of technological advances that include the development of dual-fuel and tri-fuel systems. These systems allow engines to operate on CNG without incorporating any prominent and permanent changes in the engines. Installing dual-fuel systems in existing generators has enabled operators to switch between diesel fuel and natural gas. While dual-fuel generators are powered by gasoline or liquid propane, tri-fuel generators can run on three different types of fuel sources such as gasoline, liquefied petroleum, and natural gas. Such advances are likely to boost the stationary generator market during the forecast period.
“Apart from the technological advances in generators, factors such as the growing investments in smart grids, and the rising preference for gas as a clean fuel for generators will have a significant impact on the growth of the stationary generator market during the forecast period,” says a senior analyst at Technavio.
Global stationary generator market: Segmentation analysis
This market research report segments the global stationary generator market by product (diesel, and gas), type (less than 300 KW, 301 KW to 800 KW, and greater than 800 KW) and geographic regions (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America respectively. The demand for electricity has increased significantly in APAC owing to rapid industrialization and increasing per capita electric power consumption. As a result, the existing power infrastructure has come under immense pressure to ensure adequate supply to meet the required power demand. Thus, the demand for generators is increasing rapidly in this region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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