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Prime Power Generators Market Trends

Report ID: GMI5998
Published Date: Jun 2024
Report Format: PDF

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Prime Power Generators Market Trends

The generator sets industry will be positively influenced by the industrial sector encompassing manufacturing plants, data centers, and construction sites. The increasing focus on fuel efficiency is driving the adoption of hybrid power systems providing greater reliability and flexibility in power generation. In addition, the rise in power outages, natural disasters, and the demand for dependable backup power sources will further enhance the industry prospects. The key product features including improved fuel efficiency, advanced control systems, remote monitoring capabilities and enhanced automation features will further accelerate the business potential.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of prime power generators was worth USD 16 billion in 2023 and is projected to expand at 8.2% CAGR from 2024 to 2032, owing to the increasing demand for a continuous and reliable power supply across various applications.

The > 200 kVA - 330 kVA power rating segment is projected to exceed USD 6 billion by 2032 due to the extensive investments in the construction sector and infrastructure projects.

The diesel fuel segment in the prime power generators industry is projected to grow at over 7.5% CAGR between 2024 and 2032, on account of the rising need for reliable, accessible, and uninterrupted power.

Asia Pacific prime power generators market is projected to surpass USD 18 billion by 2032, due to the rising investments in new infrastructure projects by both public and private players in line with the growing real estate sector.