DUBAI, UAE, Sept. 28, 2020 /PRNewswire/ -- Future Market Insights (FMI) anticipates the global power generator for military market to surge at a moderate CAGR of 3.4% during the assessment period 2020-2030. The steadily surging demand for better access to power sources along with a portable generator from military agencies is poised to support growth foreseen in the market.
"The COVID-19 outbreak has crippled the power sector of some prominent economic powerhouses and is likely to witness an improbable slump in investment, liquidity crunch and other devastating challenges," says an analyst at FMI.
Power Generator for Military Market - Key Takeaways
Based on capacity, the up to 60 KW category accounts for the prominent market share due to the fuel efficiency and compact design of these generators.
In terms of output, the AC generator holds close to 3/4th overall market share.
Diesel fuel type holds a prominent market share as they are more suitable and reliable across multiple applications.
Based on installation type, mobile and portable generators gain prominence among others as they are more compatible with several military operations.
Based on application, Camps/accommodation and hospitals stay prominent in the market over the assessment period.
Power Generator for Military - Key Trends
Surging demand for distributed power in key government organizations such as the military is a major growth-promoting aspect for the global market.
Power generator installments are the favored method for enhancing energy-security performance, environment, and economy thus catalyzing the market growth.
As troops deployments are rising overseas, together with the requirement for several modern warfare equipments, governments are investing in fortifying their defense systems by investing in robust power generation equipment in the approaching years.
Driven by the need to reduce carbon footprint, demand for hybrid generators will increase generating a lucrative growth prospect.
Power Generator for Military - Regional Analysis
North America will remain the most lucrative region for power generators for the military due to escalating military spending.
Europe will witness steady growth and will remain one of the extremely lucrative markets over the forecast period.
The Asia Pacific market will record the fastest growth at the leading space as growing demand from nations such as China, Japan, and India will bolster expansion prospects in the region.
Power Generator for Military - Competitive Landscape
Market players operating in the market are incessantly striving to provide advanced power generation systems with low operational cost and high output. Players are anticipated to focus more on the production of hybrid generators in addition to product launches, expanding product lines, and increasing market impressions. Mergers & acquisitions make key strategic moves implemented by the players to attain a competitive advantage. For instance
Cummins Inc. initiated the HSK78G natural gas generator series which offers innovative gas technologies and scope of advanced capabilities.
Leading players identified in the global power generator for the military market are Caterpillar Inc., Cummins Inc., Rolls-Royce Holdings plc, Harrington Generators International, HIMOINSA, Teknel SRL, VÝVOJ Martin, GRUPEL S.A., HITZINGER GmbH, Ascot Industrial S.r.l., Fischer Panda GmbH, GREEN POWER SYSTEMS S.r.l., Kirloskar Oil Engines Ltd., Kohler Co., and Ausonia S.r.l.
Get Valuable Insights into the Power Generator for Military Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global power generator for military market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the power generator for military market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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