Growing Need for Incessant Electricity Supply is Furthering Generator Market
In a world increasingly dependent upon energy, technology, and data, it is a priority to have a reliable, and sustainable supply of electricity. However, frequent power cuts interrupt routine at domestic, commercial, industrial, and social levels. A generator has been the favourite trouble shooter in an effective, and sustainable way. Generators are the lifeblood that keeps the world going amid lack of electricity supply. They are becoming more popular, thanks in part to their wide range of functions. Sans them, the modern-day amenities seem absurd. For example, for an integrated aquaculture farm, power is necessary to keep their life support systems operating. Even 15-30 minutes without oxygen can be lethal to the fish in their rearing tanks. The global market for generator is thus on a constant rise.
With global population swelling, industrialisation on the rise especially in developing nations, and new technologies emerging faster than ever, the quest for uninterrupted electricity is reaching unprecedented levels. The global electricity consumption continues to increase faster than the world population. The global electricity demand is projected to increase by 57% by 2050, roughly nearing 38,700 terawatt-hours from 25,000 terawatt-hours recorded in 2017. With huge demand-supply mismatch (causing peak power deficits, which can lead to scheduled, and unscheduled load shedding or brownouts), there exists an immense promise for generators. The virtues of generators go beyond what meets the eye - electricity supply no matter what. A generator allows to easily generate electricity by our self, which will keep driving the growth of the global generator market.
A Wide Range of Generators Available on Market
The ubiquitous, utilitarian machines are available in different electrical and physical configurations for use in different applications. Physical includes portable generators, inverter generators, standby generators, and industrial generators. In electrical configurations, there are AC (alternating current) and DC (direct current) generators based on how loads receive electric power. Generators for home use deliver AC power, whereas cars use generator engines that produce DC power. The key difference between AC and DC generators is that in the former, the electrical current reverses direction occasionally, while in the latter, the electric current flows progressively in one direction. Today, the alternators are a more popular option for power generation.
Drawbacks of generators are a standby generator can put a lot of stress on appliances when it automatically switches from the main power supply to backup. Whereas, portable generators take time to install as they have to be hooked up. Moreover, the generator’s control panel has to be monitored to know that it is working properly. Generator fuel needs to be stored on-site so the generator can be put into operation immediately whenever necessary. To contend with exhaust fumes, generators should be ideally set up outdoors. In addition, when in operation, the machine produces a fair amount of noise. These are some of the key challenges facing the generator market participants.
Emission Regulations on Generator Storage and Exhaust Systems
Generator fuel tanks and generator fuel systems must meet several code requirements and approvals before they can be installed, be it for residential or commercial use. In the US, the National Fire Protection Association Codes and Standards (NFPA), particularly sections NFPA 30 and NFPA 37, are important to meet. Moreover, an approval from the State Fire Department is required further. The fumes emitted by generators are similar to the exhaust given off by other gas- or diesel- powered engines. Some generators are subject to federal emission controls (federal regulations, state and local emissions standards). The generator emissions monitored are Nitrogen Oxide (NOx), Hydrocarbons, Carbon Monoxide (CO), and Particulate Matter.
Permanently installed prime generators and standby generators (that run for more than 100 hours per year) come under three rules of the Environmental Protection Agency (EPA).
Rolling Towards Cleaner and More Efficient Technologies
Newer gensets already meet generator emissions standards on the back of improved manufacturing. The latest advancements include direct power installation technology, wireless monitoring system, power management systems, carbon monoxide (CO) sensing and auto shutdown technology, generator controllers, and nonessential loads. Emerging technologies that can potentially power the future include the use of sodium and solar energy - thermoelectric generators (TEGs), radio waves recycling, and energy generation through friction. Diesel gensets that meet NFPA 110 standards, and protective-relay-grade microprocessor devices that can significantly improve manual and automatic synchronizing systems are also the promising ones in the generator market.
A&I Power has received a patent for its technology - a generator with a static core, wrapped in an electrical wire, to provide oscillations that when transferred to the stators, will generate electricity. Mainspring Energy’s linear generator (it uses a non-combustion reaction of air and fuel) runs on gas or hydrogen, making it lower-carbon.
Companies Focus on New Product Developments, Emphasizing Energy Efficiency and Sustainability
Some of the key players in the global generator market include AIPOWERGROUP, KOEL Green, Caterpillar Inc., Aggreko PLC, Atlas Copco, Briggs & Stratton, Caterpillar (CAT), Champion Power Equipment, Cummins Inc., Ford Power Equipment UK, Generac Power Systems, Inc., American Honda Motor Co., Inc, Hyundai Power Equipment, Kohler Co., Mitsubishi Power, Ltd., PR INDUSTRIAL srl, Powermate, Siemens AG, Solaray Corporation, Yamaha Generators, Westinghouse Electric Corporation, WINCO, ATIMA, and Energizer.
Companies are focusing on new product developments, with emphasis on sustainability and energy efficiency. The market witnessed multiple acquisition deals in April, 2021. Generac Power Systems, Inc. announced 8 acquisitions, and 2 investments, whereas Solaray Corporation acquired Hawaii emergency power specialist Generator and Power Systems.
Regional Classification of the Global Generator Market is Listed Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability.
Key Elements Included In The Study: Global Generator Market
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