Global Dual Fuel Generator Market 2019-2023 | Evolving Opportunities with Caterpillar and Cummins | Technavio
LONDON--(BUSINESS WIRE)--Jan 17, 2020--
The global dual fuel generator market is poised to grow by USD 156.47 million during 2019-2023, progressing at a CAGR of more than 4% during the forecast period. Request Free Sample Pages
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Technavio has announced its latest market research report titled global dual fuel generator market 2019-2023. (Graphic: Business Wire)
Read the 129-page research report with TOC on “Dual Fuel Generator Market Analysis Report by End-users (Industrial, Commercial, and Residential), by Geography (Americas, APAC, and EMEA), and Segment Forecasts, 2019 - 2023”.
The presence of unreliable grid infrastructure along with fluctuations in crude oil price are factors anticipated to boost the growth of the market.
The overall power consumption is increasing due to rapid urbanization in developing countries, industrial development, and rapidly expanding population. One of the prime reasons for power outage around the world is the unreliability of grid infrastructure as it is inadequate in catering to the rising demand of electricity. All these factors are driving consumers to adopt dual fuel generators for backup power supply to counter power outage and power shortage issues. Dual fuel generators not only reduce gas emissions but also save electricity costs and are economical to operate. In addition, they eliminate the need for excessive fuel storage and offer optimal performance in all operating conditions. Thus, the need for dual fuel generators resulting from unreliable grid infrastructure will drive market growth during the forecast period.
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Major Five Dual Fuel Generator Market Companies:
Caterpillar is headquartered in the US and operates the business under various segments such as Construction industries, Energy and transportation, Resource industries, and Financial products. The company offers 3516B WITH DYNAMIC GAS BLENDING, which is specifically designed for the oilfields.
Cummins is headquartered in the US and offers products through the following business units: Engine, Distribution, Components, and Power systems. The company offers RS Quiet Connect Series, a series of dual fuel standby power generators with different power ratings.
DuroMax Power Equipment
DuroMax Power Equipment is headquartered in the US and operates under the Dual fuel generators business segment. The company provides dual-fuel generators with different power ratings under the brand name DuroMax. DuroMax XP5500EH, DuroMax XP2000EH, DuroMax XP4850EH, DuroMax XP12000EH, DuroMax XP4400EH, DuroMax XP10000EH, and DuroMax XP15000EH are the various models available in the market.
Generac Power Systems
Generac Power Systems is headquartered in the US and offers products through the following business segments: Domestic and International. The company offers 500kW Bi-Fuel Generator and 600kW Bi-Fuel Generator.
Kohler is headquartered in the US and offers Dual fuel generators. The company offers natural gas and propane-fueled industrial generators that are EPA-certified with a power rating ranging from 180 kW to 400 kW.
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Dual Fuel Generator End-Users Outlook (Revenue, USD Million, 2019 - 2023)
Dual Fuel Generator Regional Outlook (Revenue, USD Million, 2019 - 2023)
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INDUSTRY KEYWORD: ENGINEERING TECHNOLOGY OIL/GAS MANUFACTURING ENERGY HARDWARE
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PUB: 01/17/2020 05:30 AM/DISC: 01/17/2020 05:30 AM