Generator [Up to 100 kVA] Market Gain Valuation of US$ 919.5 Mn by 2031, Says Study by TMR
Increasing use of caterpillar energy & power systems in rural areas is fueling the growth of the market for generators [up to 100 kVA]
Albany NY, United States, May 11, 2022 (GLOBE NEWSWIRE) — The global generator [up to 100 kVA] market is estimated to register growth at a CAGR of 4.6% during the forecast period from 2021 to 2031, according to a study by Transparency Market Research (TMR).
In addition to providing products intended for commercial use, players in the generator [up to 100 kVA] market are offering gensets that can have a positive impact on environment, people, and local communities. Moreover, demand for caterpillar energy & power systems is increasing, owing to rise in its use across remote areas in order to support unmanned operations. Such initiatives are likely to boost growth opportunities in the generator [up to 100 kVA] market in the near future.
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In different rural areas across the globe, the demand for factory-made generators is increasing due to their ability to provide non-stop power. Furthermore, these generators are gaining impetus as they can be modified by equipment providers in order to fulfill particular site needs, notes the study on the generator [up to 100 kVA] market.
Several companies operating in the generator [up to 100 kVA] market are providing gensets that offer precise amount of power for different operations. Besides, modular sound-attenuated enclosures in generators are gaining traction due to their low noise levels.
The generator [up to 100 kVA] market in Asia Pacific is prognosticated to maintain its dominant position during the forecast period, owing to factors such as increased urbanization, improved purchasing power of end users, and swift infrastructure development in the region.
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Generator [Up to 100 kVA] Market: Key Findings
- Key vendors in the generator [up to 100 kVA] market are increasing cash in-flow toward R&Ds for product innovations and expansion of their product portfolios. Furthermore, several players in the generator [up to 100 kVA] market are developing innovative gensets with the ability to minimize operational expenditure (OPEX). These are some of the key growth factors of the generator [up to 100 kVA] market.
- Several manufacturers in the generator [up to 100 kVA] market are focused on the development of kits that include gensets and a large tank that can provide additional oil to the engine. Such initiatives are assisting in a notable decline in filter prices and downtime. These efforts, in turn, are expected to result into promising future of the generator [up to 100 kVA] market.
- With growing understanding on environmental concerns, there has been a surge in the adoption of renewable energy sources across the globe. This factor has resulted in increase in need for backup power facilities, which, in turn, is driving the generator [up to 100 kVA] market.
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Generator [Up to 100 kVA] Market: Growth Boosters
- Rise in trend of work-from-home culture is resulting in rapid growth of the generator [up to 100 kVA] market
- Increase in incidences of power outrages across many developing nations globally is boosting sales in the generator [up to 100 kVA] market
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Generator [Up to 100 kVA] Market: Key Players
Some of the key players profiled in the report are:
- Green Generac Power Systems Inc.
- KOEL
- HIMOINSA
- Caterpillar
- JAKSON
- Aggreko
- AGCO Power
- MAHINDRA POWEROL
- Greaves Cotton Limited
- Kohler Co.
- AKSA POWER GENERATION
- Multiquip Inc.
- Cummins Inc.
Generator [Up to 100 kVA] Market Segmentation
Power Rating
- Up to 10 KVA
- 10 KVA – 20 KVA
- 20 KVA – 30 KVA
- 30 KVA – 40 KVA
- Above 40 KVA
Type
- Stationary
- Portable
Application
- Prime & Continuous
- Standby
- Peak Shaving
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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