May 19, 2021 (AmericaNewsHour) -- Research Nester has released a report titled "North America Standby GeneratorMarket - Regional Demand Analysis & Opportunity Outlook 2025" which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter's five force model.
Increasing population, rapid industrialization and the growing infrastructure developments are some of the significant factors that is raising the need for uninterrupted and reliable power sources across end users including residential, commercial and industries. The deployment of standby generators in a scenario of power outage significantly helps to solve the problem. As a result, there is a rising demand for these generator sets amongst users. On the other hand, rising natural calamities in North America is also anticipated to be a major factor in driving the growth of the North America standby generator market.
The North America standby generator market is anticipated to gain a CAGR of 3.7% throughout the forecast period, i.e. 2021-2025. The market is thriving on the back of the rising need for energy and constant power supply, and the increasing incidences of natural calamities in the form of hurricanes that hampers power supply. Moreover, growing collaboration and partnerships of large manufacturing companies, increasing advancements in the development of advanced standby generators, along with the growing number of new product launches are some of the additional factors anticipated to promote towards the growth of the North America standby generator market. The market is anticipated to grow by 1.55x during the forecast period to attain a value of USD 6339.0 million by the end of 2025 from a value of USD 5886.6 million in the year 2019. Additionally, the North America standby generator market is also anticipated to gain an absolute $ opportunity of USD 850.1 million during the forecast period.
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The North America standby generator market is segmented by power capacity into up to 50 kW, 50-150 kW, 151-250 kW, 251-350 kW, 351-450 kW, 451-750 kW, 751-1000 kW and above 1000 kW. Among these segments, the up to 5o kW segment, which registered the largest market share of 34.61% in 2019, is anticipated to grow by a CAGR of 3.3% during the forecast period on the back of the growing residential sector in the region. The up to 5o kW segment is further anticipated to gain an incremental $ opportunity of USD 64.2 million in the year 2025 as compared to the previous year and attain an absolute $ opportunity of USD 264.3 million during the forecast period.
However, concerns regarding the increasing stringent government norms for lowering carbon emissions, coupled with the high maintenance and installation cost of standby generators are some of the factors anticipated to hamper the growth of the North America standby generator market.
This report also studies existing competitive scenario of some of the key players of the North America standby generator market, which includes profiling of Cummins Inc. (NYS:CMI) , Briggs & Stratton Corporation (otcmkts:NGGSQ), AKSA Power Generation (ist:AKSEN), Caterpillar, Inc. (NYS:CAT) , Generac Power Systems, Inc., Rolls-Royce Power Systems AG, Mitsubishi Heavy Industries, Ltd. (tyo:7011), HIMOINSA S.L., Taylor Power Systems, Inc., and Gillette Generators, Inc.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled "North America Standby Generator Market - Regional Demand Analysis & Opportunity Outlook 2025", analyses the overall North America standby generator industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the North America standby generator market in the near future.
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