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Generator sales market to grow at CAGR of 5.85 per cent
- 7 years ago (2016-12-23)
- David Flin
MarketsandMarkets (M&M) has produced a report, “Generator Sales Market by Type (Diesel and Gas) – Global Forecast to 2020”, which projects that the generator sales market will grow at a CAGR of 5.85 per cent from 2015 to 2020, from $17.59 billion in 2015 to $23.36 billion in 2020. The report says that the market is dominated by a few international players, which hold more than 50 per cent share of the market. Major players include Caterpillar, MTU Onsite Energy, Cummins, Generac Holdings, and Mitsubishi Heavy Industries. M&M said that there is a large amount of investment planned for datacentres, telecom and IT, and power generation plants in all regions, leading to an increase in demand for uninterrupted and reliable power sources. The report says that Asia-Pacific will dominate the global generator sales market. Rapid industrialisation in China, India, and other developing countries, and switching to cleaner power sources for utility and backup power is expected to drive the market for diesel as well as gas generators in the region.
