Report ID :10335703 |
Published Date : 21 Oct 2022 |
Report Format : |
Delivery Timeline :48-72 Business Hours
North America Standby Generator Market Analysis Throughout 2025
An electrical power source, such as standby generator, keeps the power on during an outage. There is a significant increase in the adoption of such devices across several end-use sectors owing to the frequent power outages, wherein continuous power supply is of utmost importance for uninterrupted workflow. The North America standby generator market is anticipated to gain a CAGR of 3.7% throughout the forecast period, i.e. 2021-2025. Factors such as the growing demand for uninterrupted power supply, growing collaboration and partnerships of large manufacturing companies, increasing advancements in the development of advanced standby generators, and the growing number of new product launches are anticipated to promote the growth of the North America standby generator market. Additionally, factors such as the growing concerns for the rising natural calamities, increasing power outages, growing awareness for low emission power sources and rapid industrialization are anticipated to drive the growth of the North America standby generator market.
The North America standby generator market consists of various segments that are segmented by power capacity, fuel, cooling system, distribution channel, by application and by region. The market is further segmented by fuel into diesel, natural gas and gasoline, out of which, the diesel segment held the largest market share of around 46% in the year 2019 and is further anticipated to grow by attaining a CAGR of around 3% during the forecast period. The diesel generator uses a diesel fuelled engine to power the dynamo of the generator. They are usually low in price as compared to other fuel type generators. On the other hand, the natural gas segment is anticipated to grow with the highest CAGR of around 5% during the forecast period.
Some of the affluent industry leaders in the North America standby generator market are Cummins Inc., Briggs & Stratton Corporation, Taylor Power Systems, Inc., Generac Power Systems, Inc., Caterpillar, Inc., Rolls-Royce Power Systems AG, Gillette Generators, Inc., Mitsubishi Heavy Industries, Ltd., AKSA Power Generation and HIMOINSA S.L.
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