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Standby Generator Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

Research Nester has released a report titled “Standby Generator Market – Global Demand Analysis & Opportunity Outlook 2025” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.

Rising demand for electricity around the globe along with the growing concerns for the unreliability of power grid infrastructure and the insufficiency in meeting the demand for electricity from the grid power sources are some of the major factors that are anticipated to drive the growth of the global standby generator market. Such factors are raising the need amongst consumers to increasingly opt for alternative power sources, such as standby generators, which helps to provide electricity during the uncertainty of grid power source. Additionally, increasing power outages, growing concerns for the rising natural calamities, growing awareness for low emission power sources and rapid industrialization are some of the additional factors anticipated to drive the growth of the global standby generator market.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

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The global standby generator market is anticipated to gain a CAGR of 4.9% throughout the forecast period, i.e. 2021-2025. The market is thriving on the back of the growing need for emergency power backup sources, increasing advancements in the development of advanced standby generators, growing collaboration and partnerships of large manufacturing companies and the growing number of new product launches. The market is anticipated to grow by 1.3x during the forecast period to attain a value of USD 19345 million by the end of 2025 from a value of USD 17382.5 million in the year 2019. Additionally, the global standby generator market is also anticipated to gain an absolute $ opportunity of USD 3379.6 million during the forecast period.

The global standby generator market is segmented by power capacity into up to 50 kW, 50-150 kW, 151-250 kW, 251-350 kW, 351-450 kW, 451-750 kW, 751-1000 kW and above 1000 kW. Out of these, the up to 5o kW segment, which reached a value of USD 6639.9 million in the year 2019, also registered the largest market share of 38.20% in 2019. Generator sets of up to 5o kW are usually considered to be ideal for a home. Moreover, the growing residential sector across several developed and developing nations worldwide is also anticipated to drive the growth of the segment during the forecast period. Further, the segment in the global standby generator market is anticipated to attain an absolute $ opportunity of USD 1267.8 million by growing at 1.21x during the forecast period.

Geographically, the global standby generator market is segmented into five major regions including North America, Latin America, Europe, Asia Pacific, Turkey & Middle East and Africa. Among these regions, the market in North America, which held the largest market share of 33.87% in the year 2019, is expected to grow with a CAGR of 3.7% during the forecast period and gain an incremental $ opportunity of USD 209.4 million in the year 2025. Growing application of standby generators in different end-use applications, such as homes, corporate buildings, corporate sites, and others is anticipated to drive the North America standby generator market over the forecast period.

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However, concerns for the stringent norms for lowering carbon emissions in the environment and the increasing maintenance and installation cost of standby generators are some of the factors anticipated to restrict the growth of the global standby generator market.

This report also studies existing competitive scenario of some of the key players of the global standby generator market, which includes profiling of Cummins Inc. (NYSE: CMI), Briggs & Stratton Corporation (OTCMKTS: NGGSQ), AKSA Power Generation (IST: AKSEN), Caterpillar, Inc. (NYSE: CAT), Generac Power Systems, Inc., Rolls-Royce Power Systems AG, Mitsubishi Heavy Industries, Ltd. (TYO: 7011), HIMOINSA S.L., Atlas Copco AG (STO: ATCO-A) and Kohler Co.

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Standby GeneratorMarket – Global Demand Analysis & Opportunity Outlook 2025”, analyses the overall standby generator industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global standby generator market in the near future.

Browse Complete Summary of this report @https://www.researchnester.com/reports/standby-generator-market/2672

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