The global generator (up to 20Kva) market is expected to surge in demand and volume owing to the recent developments in heavy power industries and household power consumption. The global players in the market coexist with a range of regional and local players, which makes the market highly fragmented. Moreover, the consolidated position of the global players is hugely challenged by the local players who dispel the products at a lower price. The growth of local players in recent times has become a palpable concern for the global market giants who are now focusing on innovative product option to outstrip the local players. A number of players have made concerted efforts to produce engine that alleviate carbon emission as a means to attract the consumers in the market. Further, a range of players are also focusing on producing engines that optimize the output of power in order to reap the perks of data center trends. The leading players in the market or global generators (up to 20Kva) include Yamaha Motor Corporation, Kohler Co., Caterpillar Inc., Mahindra Powerol, Honda Siel Power Products Ltd., Generac Holdings Cummins Inc., Honda Siel Power Products Ltd., and KOEL Green.
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Transparency market research produced a report that prognosticates the market prospects stating that the global market is anticipated to expand at a CAGR of 7.10% over the forecast period from 2017 to 2025. This robust growth rate is estimated to take the market value to US$3,341.4 mn by the end of 2025 as compared to a value of US$1,814.3 mn in 2017. In terms of the type of fuel, the highest market share was captured by diesel based generators of up to 20 Kva. This type has reaped the benefits of its low costs and high power outputs to gain greater market demand. On a geographical footing, Asia Pacific has been the leader of the market capturing 34.3% of the market share in 2017. The reign of the region is attributable to the rising demand in emerging economies, the need to compensate for power blockages in these regions, and initiatives to bolster the telecommunications sector.
Mushrooming Data Centers to Strengthen the Market
The rising number of data centers across the globe has been on a rise, which has furthered the demand for the generator (upto 20kva) market. Data centers require continuous supply of power to function smoothly, which makes it integral for them to equip the site with effective and non-disruptive power-supplying engines. Power management products have spurred in popularity across various industrial longitudes, thus, escalating the demand for these engines. Furthermore, SMEs have exhibited a trend of forming industrial hubs where a large number of companies within an industry establish their roots at a common location. This has accentuated the demand within the market and has given an impetus to the sale of the generators (up to 20kva).
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Global Need for Perpetual Power Supply Upticks Demand
Technological advancements have also been an important booster for the market because they have helped in enhancing the performance of power generators. The fuel efficiency of these generators has substantially increased which has led companies to resort to their usage. Moreover, diesel powered engines and generators have gained traction because of their stupendous power generation capacity. This is also an affluent contributor to the consolidation of the market, providing growth opportunities for the market players. A global analysis reveals that the power sector within several economies is threatened by the scantiness of resources, which has persuaded governments to look for efficient power generators. This has furnished positive results for the global market for generators (up to 20Kva).
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