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Backup Reciprocating Power Generating Engine Market Trends

Report ID: GMI5999
Published Date: Jun 2023
Report Format: PDF

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Backup Reciprocating Power Generating Engine Market Trends

Rising dependence on technology and the growing occurrence of power outages are augmenting the demand for backup power solutions. The industry is witnessing a shift toward cleaner and highly efficient power generation technologies, which aligns with the growing emphasis on environmental sustainability that leads to robust deployment of these systems. The increasing significance of emergency preparedness solutions in various end-user sectors will play a vital role in the business growth. Furthermore, the ongoing initiatives to electrify remote areas will serve as a strong driving force for the demand of these engines.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of backup reciprocating power generating engine was valued at USD 20.8 billion in 2023 and is poised to grow at over 4.2% CAGR from 2024 to 2032, driven by stringent environmental regulations to minimize carbon emissions globally.

The backup reciprocating power generating engine market size from the industrial application segment will garner over USD 11 billion in revenue by 2032 on account of rapid infrastructure development and industrialization in developing economies.

Asia Pacific market for backup reciprocating power generating engine was worth over USD 4 billion in 2022, attributed to ongoing refurbishment of power infrastructure coupled with rising electricity demand in the region.

Prominent backup reciprocating power generating engine industry players include MITSUBISHI HEAVY INDUSTRIES, HIMOINSA, Motorenfabrik Hatz GmbH & Co. KG, Clarke Energy, Yuchai International Imp & Exp (Beijing), Kirloskar, and Atlas Copco AB, among others.