PUNE, India, May 26, 2016 /PRNewswire/ --
The report "Black Start Generator Market by Type (Diesel and Others), by Power Ratings (Below 1,000 kW, 1,000 kW-2,000 kW, 2,000 kW-3,000 kW, and Above 3,000 kW), by Industry (Power, Manufacturing, Oil & Gas, and Others) and by Region - Trends & Forecasts to 2021"published by MarketsandMarkets, The market is expected to grow from an estimated USD 1.24 Billion in 2016 to USD 1.50 Billion by 2021, at a CAGR of 3.8% from 2016 to 2021.
Browse 60 market data Tables with 51 Figures spread through 154 Pages and in-depth TOC on "Black Start Generator Market"
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Increasing investment in power generation infrastructure and growth of manufacturing sector are driving the market for black start generators across the world.
Black start diesel generator to dominate the market during the forecast period
Amongst the three commonly used types of generators which are diesel, gas, and hybrid; diesel generators have the quickest response, easier fuel sourcing, lowest running cost, and longer running life which are also the factors driving the growth of the diesel generator segment in the Black Start Generator Market. Diesel generators held over 90% of the market during the forecast period and are expected to grow at a higher rate as compared to gas and hybrid generators for black start. Gas and hybrid generators are mostly preferred in countries having developed gas distribution network like the U.S, U.K., and Canada.
Power industry to hold the major share of the Black Start Generator Market during the forecast period
The Black Start Generator Market is segmented on the basis of industry which includes power plants, manufacturing, oil & gas, and others. The power industry is the major buyer of black start generators and is the key driver for the market. High urbanization and industrialization in emerging economies such as China, India, Indonesia, and Saudi Arabia among others has resulted in high demand for electricity leading to the growth of the power industry across globe, thereby driving the Black Start Generator Market. Developed economies such as Germany, the U.S., and Canada have a high power plant retirement rate and are also investing in constructing new power plants, which will further add to Black Start Generator Market.
Asia-Pacific would see the highest growth for the Black Start Generator Market
The report covers five regions namely Asia-Pacific, Europe, Middle East & Africa, North America, and South America. The Asia-Pacific region is expected to witness high growth in construction of thermal power plants from 2016 to 2021. Moreover, new policies favoring industry and huge foreign investments are likely to fuel the growth of industries, in this region.
The report also provides an in-depth understanding of the competitive landscape, along with profiles of the leading Black Start Generator Market players such as Caterpillar Inc. (U.S.), General Electric (U.S.), Mitsubishi Heavy Industries Limited (Japan), Cummins, Inc. (U.S.), and MTU Onsite Energy (Germany) among others. Dominant players are trying to penetrate the emerging economies and are adopting various methods such as signing contracts and agreements, expansions, mergers and acquisitions, and new product launches to increase their market share.
Market share analysis by revenue for key companies is included in the report. The scope accordingly aids market participants to identify high growth markets and helps managing key investment decisions. For this report, major players in the Black Start Generator Market have been identified using various primary and secondary sources, which include annual reports of top market players, interviews with key opinion leaders such as CEOs, directors, and marketing people. Based on this research, the market shares have been evaluated and validated.
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