Dublin, Feb. 19, 2024 (GLOBE NEWSWIRE) -- The "Data Center Generator Market Size & Share Analysis - Growth Trends & Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
In recent years, the global need for continuous and reliable power sources has grown exponentially, leading to a notable surge in the Data Center Generator Market. This analysis provides an insightful overview of the market's current state, projected growth, and trends that are influencing its expansion. With an expected increase from USD 4.98 billion in 2023 to an impressive USD 6.46 billion by 2028, the market is forecast to progress at a compound annual growth rate (CAGR) of 5.35% during the period 2023-2028.
Key Highlights and Advancements in the Data Center Generator Market:
- Natural gas generators are gaining traction due to technological advances and corporate sustainability targets, as they are seen as more economically viable and environmentally responsible alternatives to diesel-powered units.
- Diesel generators continue to lead the market as the preferred choice for emergency power supply systems, especially for high-endure data centers requiring extended backup duration.
- The growing demand for edge data centers has spurred an increase in colocation services, which in turn contributes to the market growth.
- Although rising energy costs and the push for fuel cells present potential restraints, the market is expected to adapt to the evolving demands.
- Increased adoption of online services during the COVID-19 pandemic highlighted the critical nature of data centers, further accelerating market growth.
Emerging Trends in the Data Center Generator Space
Market Dominance of Diesel Generators: Diesel generators currently dominate the industry, with their reliability and easy maintenance contributing to the high levels of customer satisfaction. They remain the staple for uninterrupted data center operations, especially with Tier 4 data centers that cater to enterprises requiring non-stop server activity.
Asia Pacific Registers Robust Growth: The Asia Pacific region is experiencing a youthful upswing in the Data Center Generator Market, spurred by significant investments from mega cloud service providers and an increase in public and hybrid cloud services. The region's commitment to building green data centers has sparked interest in renewable energy sources, such as hydrogen fuel generators, which is further invigorating market dynamics.
Competitive Landscape
The Data Center Generator Market features a consolidated competitive spectrum, with a few key players holding a significant market share. These entities are continually refining their product offerings to incorporate smart digital controls, bi-fuel technologies, and other cutting-edge innovations. Strategic alliances and a focus on market expansion remain crucial for these companies to fortify their stature within the industry. Notable developments include advanced manufacturing expansions and the adoption of vegetable oil as an alternative to diesel for backup generators.
A selection of companies mentioned in this report includes:
- Caterpillar Inc.
- Atlas Copco
- Cummins Inc.
- Hitec Power Protection
- Himoinsa SL
- KOHLER Group
- Mitsubishi Motor Corporation
- Generac Power Systems Inc.
- Rolls Royce Power Systems AG
- Piller
For more information about this report visit https://www.researchandmarkets.com/r/gw3s21
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