Dublin, Feb. 08, 2024 (GLOBE NEWSWIRE) -- The "Generator Sales Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The latest comprehensive market research report on global generator sales signals substantial growth prospects for both established and emerging market players in the energy sector. With the growing exigencies for uninterrupted power supply across various industries, the generator sales market is envisaged to hit an impressive $24.93 billion by 2024, marking a compound annual growth rate (CAGR) of 4.1% from 2023.
This expansion is driven by an amalgamation of factors including the heightened demand for reliable emergency power sources due to power outage concerns, significant industrial activity, the rise in extreme weather incidences, and an uptick in global construction projects. The market is witnessing a paradigm shift due to technological advancements that are influencing sales and designs of generators.
Asia-Pacific Dominates with Pioneering Growth in Energy Solutions
Leading the way in regional dominance, Asia-Pacific has emerged as the foremost regional market for generator sales in 2023. This surge is attributed to the formidable industrial development and the urgency to replace aging energy infrastructure within the region.
The substantial growth trajectory is anticipated to persevere, with expectations for the market to reach a valuation of $29.45 billion by 2028, propelled by a CAGR of 4.3%. The report anticipates that surging energy consumption, requirement for energy efficient back-up solutions, and government initiatives will be significant contributors to this expansion.
Technological Innovation: A Chief Influencer in the Generator Sales Market
Innovation stands as a distinguishing trend, with leading players deploying advanced technologies to concoct generators that offer efficiency, sustainability, and reliability. A prime illustration is the project launched by Caterpillar Inc., presenting a hydrogen fuel cell generator that endows Microsoft data centers with a dependable and eco-friendly power supply.
The report encapsulates the various market segments including diesel, gas, and hybrid generators and delves into their applications in standby, prime & continuous, and peak shaving.
The application terrain extends through the industrial, commercial, and residential sectors, demonstrating the wide-reaching implications and needs for generator sales.
- Emergence of Smart Generators
- Adoption of Hybrid Power Systems
- Expansion of Microgrid Initiatives
- Integration of Telemedicine and Enhanced Connectivity
- Imperative of Regulatory Compliance
Telecommunications surge as a driving force for generator demand. The report cites a staggering projection of 350 million 5G subscriptions in India alone by 2026, elucidating the crucial role of generators in telecommunication infrastructures amidst escalating subscriber teledensity.
With the comprehensive insights and forward-looking assessments provided in this report, stakeholders and potential market entrants are better positioned to strategize and capitalize on future market trends. The global generator sales market remains poised for a proliferative phase, underscored by the convergence of energy requirements and innovative technological prowess.
Insightful and Data-Driven Analysis within the Generator Sales Arena
The generator sales market report presents an in-depth exploration of the current and future market scenarios, offering stakeholders a pivotal knowledge base for informed decision-making. The report provides extensive statistics and analysis on market size, regional shares, and competitive landscape including key players' market positioning.
Companies Profiled
- Kohler Co.
- Mitsubishi Heavy Industries Ltd.
- Rolls-Royce Holdings plc
- Siemens AG
- Toshiba Corporation
- Caterpillar Inc.
- Cummins Ltd.
- Generac Holdings Inc.
- AKSA Power Generation
- Briggs & Stratton Corporation
- Atlas Copco AB
- Aggreko PLC
- MAN Energy Solutions SE
- Ingersoll Rand Inc.
- American Honda Motor Corp.
- Inmesol S.L.U.
- Daihatsu Diesel Mfg. Co. Ltd.
- Wärtsilä Oyj Abp
- Zwart Techniek BV
- Wacker Neuson SE
- Kirloskar Oil Engines Limited
- Doosan Portable Power
- Yanmar Co. Ltd.
- Deere & Company
- Kirloskar Electric Company
- Sterling Generators Pvt. Ltd.
- Mahindra Powerol Ltd.
- Sudhir Power Ltd.
- Ashok Leyland Ltd.
- Perkins Engines Company Limited
For more information about this report visit https://www.researchandmarkets.com/r/v2qyuo
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