Pune, India -- (SBWIRE) -- 12/17/2018 -- Generator Sales Global Market – Overview
The global generator sales market is a very dynamic market and is expected to witness high growth over the forecast period. The increased application of Generator Sales across various sectors is majorly influenced by the growing demand for uninterrupted & reliable power supply. Also, the increasing number of power outages and power failure in the developing and underdeveloped countries across the world is creating a huge demand for power backup devices, which is catered through Generator Sales. As per the study conducted by Market Research Future, the global market for Generator Sales is likely to grow at the CAGR of around 5%.
Electricity has become a vital prerequisite for augmenting economic activity and improving quality of life. The growing demand for uninterrupted and reliable power supply has become a necessity in today's world. So as to support this growing need, a reliable source of power generation is required. Generator Sales provide a continuous, prime and standby source of power generation at industrial, commercial and residential level. In the last decade, several technological advancements have helped upgrading Generator Sales which have improved their fuel efficiency, subsequently their diesel engine technology. Diesel engines have emerged as preferred choice among enterprises owing power backup equipment. The easy availability of Generator Saless and their affordable price have fuelled their demand in turn positively impacting the global generator market. Also numerous modifications are made in fuel systems, besides incorporating control and digital monitoring system.
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These changes have upgraded Generator Saless. They now offer higher performance efficiency, which is a key factor boosting the utilization of Generator Sales globally. The rising attention towards the renewable energy power generation is substantially gaining huge investment across the world. Renewable energy systems provide sustainable and low cost power generation, but with a fluctuating power output. So, a hybrid solution can be installed with the renewable energy system, to obtain a continuous power generation from renewable energy systems. Hybrid renewable energy systems mostly utilise Generator Saless as power generating unit. These are brought into operations when there is huge fluctuation in power generation through renewable systems. The economic benefit of hybrid renewable energy systems, is higher than that of conventional power plants as they utilizes Generator Saless, which supplies excess load and recharges the battery during overcasts. Recently, in May 2017, Aggreko signed a 10 year deal to provide solar-diesel hybrid power to Nevsun in Eritrea. Aggreko, Glasgow-based Company will supply 22 MW of diesel and 7.5 MW of solar-generated power for the Nevsun's copper and zinc operations. Aggreko's solar-diesel hybrid power package combines cost-effectiveness and green renewable energy with the reliability of diesel-generated power to provide uninterrupted power round the clock. The Generator Sales market is segmented based on end-user into residential, commercial, and industrial segments. The industrial end-user segment is expected to grow at the highest rate. The key driving factor will be favourable government policies for the growth of industries in various countries such as Mexico, China, Brazil, and India.
Geographically, the global Generator Sales market has been divided into Europe, Asia Pacific and Rest of the World. Among these regions, Asia Pacific is the largest market by size and is estimated to grow at the highest rate due to high demand for power products in China. China's high economic growth rate has created increased demand for power generation equipment, such as diesel and gas generators, in the country. Along with this, new policy reforms in India that support the growth of industries have made the country a very lucrative market for OEM manufacturers. This is also likely to create a huge demand for generators in the region.
Generator Sales Global Market – Segmentation
The scope of global Generator Sales market is segmented into three major segments which are explained below:
By Type
o Continuous
o Stand By
o Peak Shave
? By Fuel
o Diesel
o Gas
By End-User
o Industrial
o Commercial
o Residential
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Generator Sales Global Market - Competitive Analysis
The global market for generator sales seems to be highly competitive. To maintain the market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, product launch, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.