Le Lézard
Classified in: Oil industry, Covid-19 virus
Subject: MRR

Dual Fuel Generator Market to grow by USD 176.83 Million growth; North America to account for significant market share - Technavio


NEW YORK, Nov. 22, 2022 /PRNewswire/ -- The "Dual Fuel Generator Market by End-user and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. The report expects the market size to grow by USD 176.83 million between 2021 and 2026. However, the growth momentum is expected to decelerate at a CAGR of 4.1% during the forecast period. Learn about the global trends impacting the future of market research. Download a Free PDF Report Sample

Regional Analysis

The market will observe significant growth in North America during the forecast period. The demand for electricity in APAC is increasing due to the ever-increasing population. Poor power infrastructure in Asian countries causes power outages, which also increases the demand for generators for power backup. Furthermore, the growth of the dual fuel generator market in the region can be attributed to the increasing demand from the residential, commercial, and several small-scale industries. Due to power shortages and lack of access to the grid, power backup sources have become a necessity in the region. The market in the region is expected to register tremendous growth during the forecast period.

Major Revenue-generating Segment

By end-user, the market is analyzed across segments such as industrial, commercial, and residential. Industrial end-users will exhibit significant demand for dual fuel generators during the forecast period. Industries are increasingly opting for dual fuel generators to capitalize on the reliability benefits of both diesel and natural gas, as they can run on either gas or diesel depending on which fuel is available at the time. The deployment of dual fuel generators in the industrial sector ensures that there is a continuous supply of power in the event of failure of the grid systems, which reduces the risk of downtime.

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Key Growth Driver

The market is driven by the growing benefits of dual fuel generators. Unlike a traditional generator, the dual fuel generators deploy an advanced dual fuel control system that runs on both gas and diesel, which makes them more flexible when it comes to supplying emergency power. Dual fuel generators can operate on a wide range of gas/diesel supply combinations ranging from 100%/0% to 30%/70%, which reduces the overall spending on fuel. In addition, they are economical to operate and save electricity costs, flexible as the control of diesel and gas metering offers optimal performance in all operating conditions, and are capable of maintaining diesel power and traditional transient response and torque even in substitution mode. Many such benefits are driving their demand among end-users, which is driving the growth of the market. Get detailed insights into the impact of drivers, trends, and challenges on the growth of the market. Buy Now!

As per Technavio, the tri-fuel generator technology will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth.

Dual Fuel Generator Market: Tri-fuel Generator Technology

The advent of tri-fuel generator technology is the major trend in the market. Tri-fuel generators are expected to emerge as the next best alternative to dual fuel generators in the coming years. In general, the four main fuel choices to run a generator include gasoline, diesel, liquid propane, and natural gas. Dual fuel generators are powered by gasoline or liquid propane, while a tri-fuel generator can run on three different types of fuel sources such as gasoline, liquefied petroleum (LPG or propane), and natural gas (NG). These generators are being increasingly adopted by preppers or survivalists who need to be prepared for any sort of emergency situation. In addition, there is always a high possibility that one of the three fuels may become scarce at any time during an emergency, and therefore, most people tend to purchase a generator that can be operated using three different fuels. This trend is expected to have a positive impact on the growth of the market in focus.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Related Reports:

Dual Fuel Generator Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 4.1%

Market growth 2022-2026

USD 176.83 million

Market structure

Fragmented

YoY growth (%)

4.45

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

North America at 36%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

All Power America, Briggs and Stratton LLC, Caterpillar Inc., Champion Power Equipment Inc., Cummins Inc., DuroMax Power Equipment, Electrogene Ltd., Firman Power Equipment, Generac Power Systems Inc., Island Generator Co., Kohler Co., MAN Energy Solutions SE, North tool and Equipment, Pulsar Products Inc., Qianjiang Group, Smarter Tools Inc., Sportsman Series, Tillotson Ltd., WEN Products, and Westinghouse Electric Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by End-user

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

SOURCE Technavio


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