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With rapid urbanization and industrialization, the shortage of power and energy has become predominant, which has further led to the increased demand for power generators to provide uninterrupted power supply during the times of power outage. Consequently, residential users are rapidly adopting the use of stationary generators to confirm continuous supply of electricity.
Technavio’s market analysts expect the global residential stationary generator market to grow tremendously, posting a CAGR of close to 7% during the forecast period. Among residential users, countries such as US, China, India, and Brazil show immense growth potential for the adoption of these generators. Vendors are advancing into developing countries where the demand for these generators is witnessing a healthy growth.
Following the increased use of smart equipment at home, continuous supply of electricity is the most important aspect for the households. At present, the market for the generators with a capacity of 61 to 1,000 kW accounts for the majority of share with 51% due to advantages like longer run time than low power rating generators and less costly than generators with power rating more than 1000 Kw.
The APAC region dominated the residential stationary generator market in 2014, accounting for a share of over 36%. Technavio’s research analysts expect the stationary generator market in the APAC region to witness a significant growth during the forecast period, which is driven by the increasing number of power outages and growth in the construction industry. The increasing demand will mostly emerge from countries such as India, China, Indonesia, and Philippines.
The residential stationary generator market is dominated by large and international vendors, however, many local and regional vendors are evolving in the market with low-cost options for residential and commercial users. Therefore, several market vendors are in the course of developing advanced generators with increased features and functionalities to sustain themselves in this competitive business environment.
The major vendors in this market are –
Other prominent vendors included in this report are APR Energy, Broadcrown, Dresser-Rand, F.G. Wilson, Himoinsa, Kirloskar Oil Engines, Mitsubishi Heavy Industries, MQ Power, MTU Onsite Energy, Perkins, Pramac, Wacker Neuson, Wuxi Kipor Power, Wartsila, and Yanmar.
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Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
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DATA ANALYSIS
Data Synthesis
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