{"id":129281,"date":"2024-03-01T11:12:27","date_gmt":"2024-03-01T16:12:27","guid":{"rendered":"https:\/\/v2fr5er78d.funnewsdaily.com\/books\/straits-research-forecasts-the-global-generator-sets-market-to-achieve-a-size-of-usd-57-28-billion-by-2030-driven-by-a-significant-compound-annual-growth-rate-cagr-of-8-23\/"},"modified":"2024-03-01T11:12:27","modified_gmt":"2024-03-01T16:12:27","slug":"straits-research-forecasts-the-global-generator-sets-market-to-achieve-a-size-of-usd-57-28-billion-by-2030-driven-by-a-significant-compound-annual-growth-rate-cagr-of-8-23","status":"publish","type":"post","link":"https:\/\/v2fr5er78d.funnewsdaily.com\/books\/straits-research-forecasts-the-global-generator-sets-market-to-achieve-a-size-of-usd-57-28-billion-by-2030-driven-by-a-significant-compound-annual-growth-rate-cagr-of-8-23\/","title":{"rendered":"Straits Research forecasts the Global Generator Sets Market to achieve a size of USD 57.28 billion by 2030, driven by a significant compound annual growth rate (CAGR) of 8.23%"},"content":{"rendered":"
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New York, United States, Feb. 28, 2024 (GLOBE NEWSWIRE) — Gas or fuel-powered generators use spinning motion to temporarily generate electricity. Mechanical energy comes from steam turbines, gas turbines, and internal combustion. Their uses include industrial, agricultural, defense, and daily life. AC and DC generators are common. A generator’s output can be adjusted based on demand. They’re also frequent in locations lacking steady power. The global market for generator sets is expected to develop due to rapid industrialization and residential and commercial growth. Digitization has increased industry’s electricity use.<\/p>\n
Global industrialization, especially in China and India, drives generator demand. Generators maintain a consistent flow of electricity, which is vital for industry. In addition to bad weather, tough environmental rules, and infrastructure improvements will push the genset market.<\/p>\n
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Download Free Sample Report PDF @<\/strong>\u00a0https:\/\/straitsresearch.com\/report\/generator-sets-market\/request-sample<\/u><\/a><\/p>\n IT Improvements and Digitization<\/strong><\/p>\n According to Straits Research, \u201cThe global generator sets market\u00a0revenue\u00a0was valued at USD 28.11 billion in 2021 and is predicted to reach at USD 57.28 billion by 2030, increasing at a CAGR of 8.23% from 2022 to 2030.\u201d<\/i><\/b> Technological developments in IT and data center growth will boost the company’s progress. Digitalization and end-user awareness of power interruptions will improve the industry’s prospects. These units are appropriate for mining operations because of their endurance, capacity, and low volatility.\u00a0Increasing demand for dependable power supply in key areas like automotive and pharmaceuticals underpins industry statistics. These enterprises use automatic gensets to provide backup power in case of electrical outages. They avoided substantial financial, reputational, and product losses.<\/p>\n Oil And Gas Industry Advancements Increase Demand<\/strong><\/p>\n Most mining and oil and gas exploration occurs in remote areas. Because highly combustible materials are mined, enough lighting and power are required. Rising investments are growing the oil and mining industries in the U.S., Australia, and numerous African countries.\u00a0China, Australia, and other Asian countries will likely open new mines. This will increase demand for power-renting options. Since hydraulic fracturing, the U.S. has remained a leading oil producer. Exxon Mobil plans to invest $50 billion in the U.S. by 2025. This includes digging oil & gas wells and building pipelines to bring output to the Gulf Coast, where it’s increasing downstream. This trend should benefit rental generator sets soon.\u00a0<\/p>\n Innovation Boosts Sales by Creating New Growth Opportunities<\/strong><\/p>\n Because generators are used in so many industries, competition is fierce. Businesses are incorporating cutting-edge ideas to build their brand’s prominence. Inmesol introduced silent generators last October. These rental goods have a working sound pressure level of 50 db. (A).\u00a0The company’s newest silent generator line will have 85- to 130-kVA power. Product advancements like this are expected to boost the generator business in the next years. This will boost the global generator set market.<\/p>\n Regional Overview<\/strong><\/p>\n North America, Europe, Asia-Pacific (APAC Region), Latin America, and Middle East & Africa\u00a0make up the\u00a0Global Generator Sets Market<\/u><\/a>.<\/p>\n Asia Pacific<\/strong>\u00a0held approximately 37% of the market’s revenue in 2021 and is expected to grow the most. The region has the fastest-growing economies. China brings in the most regional revenue. Increased construction projects, production facilities, and commercial office space growth are expected to fuel the market.<\/p>\n North America<\/strong>\u00a0had the second-largest market share in 2021, at 25%, and it is expected to develop rapidly throughout the projection period. The US is likely to drive the region’s growth. The growth of data centers and other business services has fueled the need for generator sets in the region. The growing vulnerability of the electric grid to weather-related outages has increased demand for energy backup options.<\/p>\n Key Highlights<\/strong><\/p>\n Major Players in Global Generator Sets Market<\/strong><\/p>\n List of\u00a0Top 14\u00a0competitor companies in the Generator Sets Market across the globe are:<\/p>\n Recent Developments<\/strong><\/p>\n Global Generator Sets Market: Segmentation<\/strong><\/p>\n By Fuel Type<\/strong><\/p>\n By Power Rating<\/strong><\/p>\n By Application<\/strong><\/p>\n By Region<\/strong><\/p>\n Get Detailed Market Segmentation @\u00a0<\/strong>https:\/\/straitsresearch.com\/report\/generator-sets-market\/segmentation<\/u><\/a><\/p>\n About Straits Research Pvt. Ltd.<\/strong><\/p>\n Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.<\/p>\n Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client\u2019s purchase. We overcome our clients\u2019 issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.<\/p>\n For more information on your target market, please contact us below:<\/p>\n Phone:<\/strong>\u00a0+1 646 905 0080 (U.S.)<\/p>\n +91 8087085354 (India)<\/p>\n +44 203 695 0070 (U.K.)<\/p>\n Email:\u00a0<\/strong>sales@straitsresearch.com<\/u><\/a><\/p>\n Follow Us:\u00a0<\/strong>LinkedIn<\/u><\/a>\u00a0|\u00a0<\/strong>Facebook<\/u><\/a>\u00a0|\u00a0<\/strong>Instagram<\/u><\/a>\u00a0|\u00a0<\/strong>Twitter<\/u><\/a><\/p>\n \n
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