Generator Market SWOT Analysis Of Top Key Player Forecasts To 2024 Generator Market - Global Industry Analysis, Size, | страница 2

generator market in Asia Pacific is expected to expand at the fastest rate during the
forecast period.
The Middle East & Africa generator market is currently witnessing strong generator
sales in countries such as Saudi Arabia, the UAE, South Africa, Kenya, Iran, Nigeria,
and Qatar. Remote areas that still remain cut off from regular power supply carry a
high economic potential for companies in the generator market.
Asia Pacific held the third-largest market share of the global generator market,
accounting for 22.2% in 2015. The market in Asia Pacific is expected to expand at a
CAGR of 6.39% from 2016 to 2024 to account for US$6.19 bn in revenues in 2024.
Countries such as China, India, Malaysia, Thailand, and Australia are showing a swift
increase in energy consumption. However, emerging countries in APAC are still
plagued by an underdeveloped electricity transmission and distribution
infrastructure and frequent power outages, creating a lucrative target market for
sales of generator. Europe and Latin America collectively accounted for 23.7% of the
global generator market in 2015.
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Spotlight will Remain on Use of Generators for Prime Continuous Power
By application, the global generator market can be segmented into standby backup
power, prime continuous power, and peak shaving power. Of these, prime
continuous power held the largest market share (48.91%) in 2015. Enterprises are
primarily investing in generators to ensure prime continuous power – this trend will
continue to drive generator sales, leading the prime continuous power segment to
expand at a CAGR of 4.39% from 2016 to 2024. By end-user, the market has been
segmented into residential and commercial and industrial. Of these, commercial and
industrial held the largest market share (58.50%) in 2015; the segment is expected
to expand at a CAGR of 5.22% from 2016 to 2024.
Key players in the generator market include Briggs & Stratton Corporation,
Caterpillar Inc., Cummins Inc., Generac Holdings, Inc., Kirloskar Electric Company
Ltd., Kohler Co., Mitsubishi Heavy Industries, Ltd., Multiquip Inc., Wärtsilä
Corporation, and Yanmar Co., Ltd.
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