The global generator market in the healthcare sector was valued at around $13 billion in 2015 and is expected to surpass $14 billion by 2020, says Technavio.
Technavio has announced its latest market research report on the generator market in the healthcare sector to its engineering tools portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global generator market in the healthcare sector during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include Caterpillar, Cummins, Generac Power Systems, and Kohler.
In terms of geographical analysis, APAC will be the largest region in the global market, reaching revenues of about $8 billion by 2020. China, India, Australia and South Korea will emerge as the key revenue-generators.
“The manufacturers are focusing on the development of bi-fuel portable generators using various advanced technologies. These consist of portable units that provide significant fuel savings and environmental benefits. Generators using bi-fuel technology can operate on about 70% natural gas, which includes scrubbed and cleaned well-head gas. These portable generators come inside a compact enclosure that offers excellent protection from harsh operating environments,” says Gaurav Mohindru, a lead analyst at Technavio for research on engineering tools.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Power blackouts due to natural disasters
The increasing need for supplementary power sources during power outages caused by catastrophic natural events or faults in electric networks will lead to the growth of this market. These systems are used in emergency facilities like hospitals, communication services, and emergency call centers that require an uninterrupted power supply for efficiently providing their services during critical periods. The market is also witnessing an increased use of these generators by various industrial establishments as their auxiliary source of energy due to the growing frequency of power outages. Power outages are also becoming common across the globe due to earthquakes, storms, and floods and it disrupts continuous power supply due to power grid instability. The constant need for power and the unreliable power supply situation is expected to rise the demand for these generators.
Increasing instances of power grid failure
Electricity is used to operate transportation systems, computer databases, everyday equipment, including ovens, washing machines, TVs, lights, fans, and almost every electrical or electronic equipment used daily. Rapid urbanization and increase in industrial development has raised the overall power consumption across the global and is leading to the growing frequency of power grid failures. Therefore, to overcome power outage and power shortage issues, consumers are increasingly adopting diesel generators for continuous power supply.
Rising popularity of gas generators
The use of technologies such as drilling and fracking in the production of gas-powered generators due to its increased adoption in residential and commercial applications will fuel the market during the forecast period. These generators produce less noise and have affordable prices for fuel system installation, compared to diesel generators. Thay are also environment-friendly have low risk of leakage and fire accidents.
Other prominent vendors identified in this report are APR Energy, Atlas Copco, JCB Broadcrown, FG Wilson, Guangdong Westinpower, Himoinsa, Kirloskar Oil Engines, Mitsubishi Heavy Industries, MQ Power, MTU Onsite Energy, Wacker Neuson, and Yanmar.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Generator Market in the Healthcare Sector 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Generator Market for Telecom Sector 2016-2020
- Global Generation Management Systems Market 2016-2020
- Global Signal Generator Market 2016-2020
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