PUNE, India, December 14, 2016 /PRNewswire/ --
The report "Generator Sales Market by Type (Diesel and Gas), by Power Rating (Below 100 kVA, 100-350 kVA, 350-1000 kVA, above 1000 Kva), by Application (Standby, Prime or Continuous Power, Peak Shaving), by End User (Industrial, Commercial, and Residential), & by Region - Global Forecast to 2020" published by MarketsandMarkets, the market is expected to grow at a CAGR of 5.85% from 2015 to 2020. It is projected to reach USD 23.36 Billion by 2020 from an estimated value of USD 17.59 Billion in 2015.
Browse 94 market data Tables and 57 Figures spread through 164 Pages and in-depth TOC on "Generator Sales Market"
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Large amount of investments is planned for the growth of industries, real estate, datacenters, telecom & IT, and power generation plants in all the regions. This will lead to an increase in demand for uninterrupted and reliable power sources. The rise in demand for reliable power source will boost the market for generator sales, which is estimated to grow at a CAGR of 5.85% from 2015 to 2020
Rise in real estate and Telecom & IT sector will drive the Generator Sales Market for power rating of 350-1000 kVA
The 350-1000 kVA power ratings generator is expected to lead the market due to rising demand from real estate, telecom & IT, and commercial sector markets. Houses and commercial establishments usually do not have high power consuming equipment, such as industries. Hence, the demand for 350-1000 kVA power rating generators is expected to be higher as compared to other power ratings generators.
Industrial generator to capture major share of the generator sales market
Industries require continuous supply of power to maintain the flow of process. Power outages and voltage drops not only affect the pace of the process, but also lead to malfunctioning of equipment, leading to monetary and operation loss. Hence, multiple generators of different power ratings are used in such industries to support specific equipment.
Asia-Pacific to dominate the global generator sales market
Rapid industrialization in China, India, and other developing countries, and switching to cleaner power sources for utility & backup power is expected to drive the market for diesel as well as gas generators in the region.
The report profiles leading players in the Generator Sales Market such as Caterpillar, Inc. (U.S.), MTU Onsite Energy (Germany), Cummins, Inc. (U.S.), Generac Holdings, Inc. (U.S.), and Mitsubishi Heavy Industries Ltd. (Japan), and others. These top five companies held a combined market share of 62%, with Caterpillar, Inc. (U.S.) emerging as the top-most player among all. Kohler Co. (U.S.) led the market with the most number of expansions from 2012 to 2015. Companies are increasingly focusing on introducing new products/technologies/services in the market to attract more customers, with a slew of product launches which meet key industry needs such as hazard protection or flexible fuel operation.
Electricity will continue to be the fastest growing form of end-use energy consumption, with the International Energy Outlook 2016 (IEO2016) Reference case forecasting world net electricity generation to increase by 69% by 2040, from 21.6 trillion kilowatt hours (kWh) in 2012 to 25.8 trillion kWh by 2020 and 36.5 trillion kWh by 2040. Even at this pace of growth, electricity demand is projected to stay ahead of supply, owing to gaps in transmission and distribution networks, project delays, and cost overruns. The market is set for comparatively slower growth in mature markets such as North America and Europe as consumption is already at peak levels and there have been manifold improvements in efficiency. In North America, the new U.S. administration assuming office in 2017 is perceived to be favorable toward traditional fossil fuel-fired power plants and the possible scrapping of the Clean Power Plan has the ability to dent growth in the renewables sector. However, the overall scenario for the Generator Sales Market remains highly positive and it is poised to grow at a healthy pace through to 2020.
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