Pune, India, April 11, 2022 (GLOBE NEWSWIRE) -- The global Stationary Generator Market size is anticipated to reach USD 35.41 billion by 2029 and exhibit a CAGR of 6.3% during the forecast period. The globally escalating electricity demand due to soaring urbanization and population growth are expected to be the key factors driving the market’s growth. Fortune Business Insights has presented this information in its report titled, “Stationary Generator Market, 2022-2029. The market size stood at USD 21.53 billion in 2021 and USD 23.04 billion in 2022.
Additionally, the increasing exploration and mining activities to cater to the ever-increasing global demand for energy are predicted to stimulate growth for the market.
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/stationary-generators-market-102564
Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2021-2029 |
| Forecast Period 2021 to 2029 CAGR | 6.3% |
| 2028 Value Projection | USD 35.41 billion |
| Base Year | 2021 |
| Market Size in 2020 | USD 21.53 billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 257 |
| Segments covered | Fuel Type, By End-User, Application and Region |
| Growth Drivers | Escalating Electricity Demand to Fuel Market Growth |
| Asia Pacific to Bestride Global Market Due to Surging Infrastructural Development |
Drivers & Restraints-
Escalating Electricity Demand to Fuel Market Growth
Stationary generators are helpful in avoiding frequent power outages and offer an uninterrupted power supply. The globally increasing demand for electricity due to consistent population growth, industrialization, and urbanization upticks the product demand and is expected to expand the global stationary generator market growth.
The increasing developments in technology and rising consumer goods exchange fuel the development of industrial, commercial, transportation, and infrastructure sectors. The unreliable and inadequate power supply from power grids boosts the product adoption and is likely to foster the growth of the market.
The tremendous development of the airport, rail, and road infrastructure across developing and developed nations are expected to create lucrative growth opportunities for the market.
However, the growing adoption of clean energy technology and rising investments in the utility sector may hamper the market’s growth during the forecast period.
Blockades in Industry Operations Have Harmed Market Growth amid COVID-19
The damage inflicted by the rapid coronavirus spread across almost every industry, including mining, construction, oil & gas, and others. The demand and production of stationary generator declined during the pandemic. The temporary shutdowns of manufacturing facilities have affected the market’s growth. A reduction in investments further aggravated the scenario. Nonetheless, the resuming operations of various industries are helping the market recover. The market is likely to expand with astonishing growth in the coming years.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/stationary-generators-market-102564
Regional Insights-
Asia Pacific to Bestride Global Market Due to Surging Infrastructural Development
Asia Pacific is anticipated to bestride the global stationary generator market share. The high investments toward infrastructural development in developing nations are expected to favor the growth of the market. The exponential demand for energy and the expanding population of the region is projected to bolster the region’s market growth. China and India are estimated to lead the region’s market growth.
The consistently rising oil and gas exploration is anticipated to bolster growth in the Middle East & Africa.
North America is predicted to gain prominent growth due to the rising data centers and the presence of leading technology companies that require tremendous and uninterrupted energy supply.
Segments-
On the basis of fuel type, the market is divided into gas, diesel, and others. On the basis of power rating, the market is categorized into above 750kVA, 375-750kVA, 75-375kVA, and below 75kVA. On the basis of application, the market is trifurcated into standby load, peak load, and continuous load. On the basis of end-user, the market is fragmented into data centers, electric utility, telecom, commercial, pharmaceuticals, manufacturing, marine, residential, construction, oil & gas, mining, and others. Geographically, the market is classified into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa.
Report Coverage-
- It offers a holistic market assessment.
- It assesses various restraints and drivers for the market’s growth.
- It highlights a list of the key players operating in the market.
- It provides information on the latest industry developments.
- It showcases a detailed analysis of the COVID-19 pandemic’s impact on the market.
Quick Buy - Stationary Generator Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102564
Competitive Landscape-
Key Players Take On Innovative Strategies to Acquire Growth
The market is extremely consolidated. The major market players emphasize high investments in technology and innovation. They focus on business expansion by introducing durable, efficient, and economic stationary generators. The marketplace features healthy competition with key players emphasizing new product launches, research and development, innovation, technological developments, partnerships, mergers, collaborations, and others to amplify their growth in the market. For instance, in March 2021, Briggs & Stratton unveiled its plans for doubling stationary generator production to cater to the record power outages that occurred in the nation.
Industry Development-
August 2021- Aggreko was named the Official Modular Energy Solutions Supporter for the Birmingham 2022 Commonwealth Games. The games will see athletes compete in 19 sports at 14 locations, including the brand-new Aquatics Centre in Sandwell, all powered by Aggreko’s innovative temporary power solutions.
Companies Operating in the Market:
- Caterpillar Inc. (U.S.)
- Himoinsa (Spain)
- Cummins Inc. (U.S.)
- FG Wilson (U.K.)
- Briggs & Stratton (U.S.)
- Generac Power Systems (U.S.)
- Aggreko (U.K.)
- Ingersoll Rand (Ireland)
- PRAMAC (Italy)
- John Deere (U.S.)
- Kirloskar Electric Co. Ltd (India)
- Kohler-SDMO (France)
- American Honda Motor Company, Inc. (U.S.)
- Yamaha Motor Corporation, USA (U.S.)
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/stationary-generators-market-102564
Global Stationary Generator Market Segmentation:
By Fuel Type:
- Diesel
- Gas
- Others
By Power Rating:
- Below 75KVA
- 75-375kVA
- 375-750kVA
- Above 750kVA
By Application:
- Continuous Load
- Peak Load
- Standby Load
By End-User:
- Mining
- Oil & Gas
- Construction
- Residential
- Marine
- Manufacturing
- Pharmaceuticals
- Commercial
- Telecom
- Electric Utility
- Data Centers
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/stationary-generators-market-102564
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd
US: +1 424 253 039
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
