Power Generators Global Market Report 2022

2022-08-13 14:27:13 By : Ms. Kitty Xiao

March 30, 2022 05:29 ET | Source: ReportLinker ReportLinker

New York, March 30, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Power Generators Global Market Report 2022" - https://www.reportlinker.com/p06248548/?utm_source=GNW The global power generators market is expected to grow from $17.67 billion in 2021 to $19.72 billion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $26.65 billion in 2026 at a CAGR of 7.8%. The power generator manufacturing market consists of sales of generators which are machines that convert mechanical energy into electrical energy for applications in external circuits. A generator uses mechanical energy such as steam, gas, water to convert it into electrical energy for an uninterrupted power supply. The main types of power generator manufacturing market are the gas generator, diesel generator, CKD generator.The gas generator is an apparatus for generating gas. The capacity used is below 75kva, 75-375 kva, 375-750 kva, above 750 kva.The applications are standby, peak shaving, continuous. The various end-users are mining, oil & gas, construction, residential, marine, manufacturing, pharmaceuticals, commercial, and others. The generator manufacturing market covered in this report is segmented by type into the gas generator, diesel generator, and CKD generator.The generator manufacturing market in this report is segmented by capacity into below 75kva, 75-375 kva, 375-750 kva, and above 750 kva. The generator manufacturing market in this report is segmented by application into standby, peak shaving, and continuous. The generator manufacturing market in this report is segmented by end-user into mining, oil & gas, construction, residential, marine, manufacturing, pharmaceuticals, commercial, and others. Increasing demand from several industries such as mining, oil and gas, and pharmaceuticals is expected to contribute to the growth of the generator manufacturing market in the forecast period.Generators are used as a source of power backup in many industrial activities. However, in cases where grid infrastructure is absent, generators are used as the only source of power.For example, the majority of the mining sites are located in remote locations and require generators for their day-to-day power requirements. For instance, the mining market in India is expected to increase to $126 billion in 2022 at a CAGR of 4.63%. Economic growth in emerging markets is increasing the industrial activity which in turn will drive the market for generators in the forecast period. Government initiatives to promote building and maintaining a robust energy infrastructure will drive the demand for power generation systems which in turn is expected to restrain the market for generators in the forecast period.According to the International Energy Agency (IEA), in 2020, the global electricity industry attracted capital investments at below USD 760 billion in 2019. Asia Pacific investments in renewable energy generation by 2030 will double to $1.3 trillion from the previous decade, dwarfing fossil fuel power expenditures. Pipeline power generation projects in Europe and the Americas were valued at $921 billion and $931 billion, respectively. Governments in both developed and developing countries are focusing on building and maintaining robust energy infrastructure, and it is expected to limit the growth of the generator manufacturing market. Generator manufacturing companies are increasingly manufacturing portable generators.A Portable generator provides electricity by running a gas-powered/diesel-powered engine that turns an on-board alternator to generate electrical power. Rising demand for uninterrupted and reliable power supply is increasing the demand for portable generators.Portable generators offer several advantages such as flexibility and increased ease of use. The global portable generators market is expected to reach $2.5 billion by 2024 growing at a CAGR of 4.1% through 2019. In March 2021, Albion Acquisitions, London-based Private equity acquired Aggreko for the amount of $2.3 billion. This acquisition of Agrreko will deal with I Squared Capital and TDR Capital. Aggreko is a UK-based company that provides rental power, temperature control, and compressed air systems. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the power generator manufacturing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. Read the full report: https://www.reportlinker.com/p06248548/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________