Global Generator Market in the Healthcare Sector 2016-2020
Generators convert mechanical energy into electrical energy. The source of mechanical energy varies, from an internal combustion engine, a hand crank to compressed air to a reciprocating steam engine. An internal combustion engine uses either diesel, gasoline, propane gas, or natural gas to produce mechanical energy. This energy is then transformed into electrical energy with the help of a generator assembly. Generators are designed to provide temporary alternating current (AC) or direct current (DC) power. They serve as a source of backup or emergency power for residential, commercial, and industrial applications. A typical generator is powered by fuel engines.
Technavio’s analysts forecast the global generator market in the healthcare sector to grow at a CAGR of 1.7% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global generator market in the healthcare sector for 2016-2020. To calculate the market size, the report considers the revenue generated from the demand for healthcare-specific generators from across all geographies.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Generator Market in the Healthcare Sector 2016-2020
Technavio recognizes the following companies as the key players in the global generator market in the healthcare sector: Caterpillar, Cummins, Generac Power Systems, and Kohler.
Other Prominent Vendors in the market 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.
Commenting on the report, an analyst from Technavio’s team said: “Diesel as a fuel type dominates the overall generator market. For several decades, the generators, especially those used in the industrial sector, have been resorting to diesel as the most preferred fuel type, due to its lower cost and easy availability. However, there is a growing trend toward the use of natural gas and other alternative environment-friendly, non-diesel fuel sources. Despite this fact, diesel will continue to lead the fuel type segment for many years to come. Diesel generators will account for about 65%-70% of the market by the end of 2020.”
According to the report, rising popularity of gas generators will be a key driver for market growth. Diesel generators produce more noise than gas generators and are not suitable for use in many residential and commercial applications. Thus, many large end-users have started adopting gas generators, which has led to an upsurge in the production of gas-powered generators due to technologies such as drilling and fracking. End-users opt for gas generators as the work of filling a generator with diesel during a power outage is minimized.
Further, the report states that increasing awareness of emission regulations has impacted diesel generator manufacturers significantly. These manufacturers are now facing a key challenge to developing generators that have high-performance levels as well as meet the required compliance with strict legislations on emissions. The challenge lies in the reduction of NOx at the source itself to avoid further cost-intensive measures.
Caterpillar, Cummins, Generac Power Systems, Kohler, 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.