888-776-0942 from 8 AM - 10 PM ET

LONDON , Dec. 3, 2021 /PRNewswire/ -- According to Brandessence market research, the generator sales market size is Valued at USD 21.43 Billion in 2020 and expected to reach USD 31.78 Billion by 2027. The generator sales market size is expected to grow at 5.79% CAGR during the 2021-2027 period. Growing demand for portable generators in various industrial sectors including IT/Telecom, Power, Marine, Oil & Gas, healthcare, mining, and others remains a strong driver of growth.

According to Brandessence market research, the generator market is likely to promise major growth during the 2021-2028 period, as demand for electricity for applications like electric vehicle promises major uptake. Even during the pandemic, the demand for electric vehicle outstripped estimates, and rose against the tide of falling vehicle sales for key manufacturers. Today, '100kva generators for sale' ads are common for mid-range applications like at offices, restaurants, and residential buildings. However, in near future the 100kva generators for sale can be a necessity for households, as increased number of home appliances, their growing electricity consumption, and incessant demand for connectivity, with major power consumption of electric vehicles are likely to drive growth for the generator sales market. The 100kVa generator is known for its diesel-based, rugged, efficient, and high-block load capacity application. Such generators may be essential to power next-gen homes in the near future.

"Factors such as amendment of norms and issuing of favorable regulations and policies regarding gas and diesel generators, increasing awareness about the environment and growing demand for IT facilities and data centers are driving the generator sales market"

Get Sample Copy of This [email protected] https://brandessenceresearch.com/requestSample/PostId/1340

As Covid-19 wanes, and industrial output resurges, the demand for power generation continues to pick up robust pace. According to the International Energy Agency, the demand for electricity in residential areas has increased in most economies around the world. As a result of increased lockdowns, consumers increasingly spend time at home, with more time to undertake hobbies, and other activities like watching the Tele. In the first week of April 2020 , residential demand in some European countries reached its peak at 40% higher than in the same period in 2019. The increased prospect of a covid-free economy, relatively stable industrial activity, and increased demand in residential sector are likely to remain key drivers of growth in generator sales market.

According to the World Bank, the typical outages in firms around the world averaged to 6.19 per month. Moreover, in 2020, over 53% firms experienced power outages per month, according to the World Bank data. This number is significantly high for firms who are looking to compete and gain a competitive advantage over global rivals. This is partially the reason why firms in India , and China register a strong demand for portable diesel generators. The growing demand for power generation to tackle intermittent supply issues has driven firms to experiment with different generator sets, with increased focus on renewable energy. 

The increased access to electricity is also likely to be a major driver of growth for players in the generator sales market. In 2012, the percentage of global population with electricity access remained at 84.73%. On the other hand, it increased to 90.08% in 2019. The growing access to electricity is likely to lead to increased demand for power generation, resulting in more pressure on already constrained supply in developing countries. Furthermore, the increased shift towards renewables is also expected to put more pressure on power generation, as consistency of supply will likely be an issue in the near future.

The demand for renewable generator remains strong in the generator sales US market. It is estimated that the demand for power backups in key states like California remain at an all-time high, with nearly 90% of new sales registering as diesel generators. In Areas like Bay Area, and South Coast, the number of generators have jumped by 34% and 22% over the 2018-2021 period. Furthermore, the generators remain key to pumping power for major companies in the area, and this remains the most promising prospect for growth for players in the generator sales market around the world.

Diesel fuel generator use remains important even in developed countries, with remote places in states like Alaska relying solely on diesel generators to produce electricity. Furthermore, many industrial facilities, hospitals, institutional facilities, and large buildings rely on diesel generators to produce electricity. The application of these for emergency power, and backup remain strong driver of growth in the generator sales market. However, despite their major implication renewable energy sources are replacing diesel generators in various sectors like agriculture, industrial, and others, due to their low-cost electricity generation, and hybrid application. In 2020, the US generated 4,009 billion kilowatthours of electricity from utility-scale generators. Moreover, additional 41.7 billion kWh was produced using small photovoltaic systems. Furthermore, while 60% of total electricity generation came from fossil fuels, nearly 20% was generated using renewable energy sources. Similar trends are being witnessed globally, as countries chase the horizons of sustainable energy future around the world.

Get Methodology @ https://brandessenceresearch.com/requestMethodology/PostId/1340

Global Generator Sales Market Segmentation –

Generator Sales Market: Competitive Analysis

The global generator sales market is a competitive, complex, and challenging landscape. The landscape remains fragmented as the barriers to entry remain relatively low, and new entrants from all regions continue to engage in advancements in manufacturing technology in the generator sales market. The growing fragmentation in the market has given significant rise to acquisitions, mergers, and attempts to launch new products to meet a diversified end-use globally. Key players in the generator sales market continue to focus on catering to new industries, as increased product advancements, and growing demand for sustainability expands application for renewable generators globally. Some key players in the global generator sales market are

Generator Sales Market: Regional Analysis

European generator sales market remains a promising prospect for growth globally. The large numbers of local suppliers in the European generator sales market continue to drive major innovation globally. Growing sustainability drive in the region also promises key innovation in the manufacturing of generators, promising new advancements to meet seasonal demands locally, as well, as globally. The growing demand for diesel generators to meet industrial demand in Asia Pacific , and residential demand in European region remain promising prospect for growth in the global generator sales market.

Get Full Access of Report: https://brandessenceresearch.com/heavy-industry/generator-sales-market-industry-analysis

i-Factor: Live Market intelligence platform

I-Factor is our guaranteed seal to keep our clients ahead of the competition, always. This knowledge platform delivers real-time updates on key economic indicators, competitive landscape, changing demand, trends, customized regional insights, and more. The platform visualizes key data points to help make decision making agile, trustworthy, and holistic.  Register for free trail here @ https://brandessenceresearch.com/i-factor/login/userRegister

Brandessence Market Research & Consulting Pvt ltd.

Brandessence market research publishes market research reports & business insights produced by highly qualified and experienced industry analysts. Our research reports are available in a wide range of industry verticals including aviation, food & beverage, healthcare, ICT, Construction, Chemicals and lot more. Brand Essence Market Research report will be best fit for senior executives, business development managers, marketing managers, consultants, CEOs, CIOs, COOs, and Directors, governments, agencies, organizations and Ph.D. Students. We have a delivery center in Pune, India and our sales office is in London .

Mr. Vishal Sawant Email: [email protected] Email: [email protected]     Corporate Sales: +44-2038074155 Asia Office : +917447409162

SOURCE Brandessence Market Research And Consulting Private Limited

More news releases in similar topics

Cision Distribution 888-776-0942 from 8 AM - 9 PM ET