Global Generator Control Panel Market By Power Type (Single Phase, and Three Phase), By Rated Power (15-40 kVA, 50-100 kVA, 130-160 kVA, Above 150 kVA), By Fuel (Diesel, Gas), By Fitting (Standalone, Wall-Mounted, Shelf-Mounted), and By Region, Competition Forecast and Opportunities, 2027
New York, Oct. 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Generator Control Panel Market - Competition Forecast and Opportunities, 2027" - https://www.reportlinker.com/p06325910/?utm_source=GNW
The global generator control panel market is anticipated to grow at a steady CAGR in the forecast period, 2023-2027.Factors such as the increasing demand for uninterrupted and stable power supply, and improved living standards are expected to drive the demand for the global generator control panel market.
Rapid occurrence of power outages and failures, which can adversely affect normal functioning, makes the concerned authorities take the step to improve and stabilize the power supply by having requirement of backup power devices.Especially the demand from developing economies like China and India and the increase in the revolution of data centers have boosted the installation of gensets on the premises.
The growing need to install power backup devices and increase in investments by private and public players to ensure constant power supply is expected to boost the global generator control panel market growth in the coming years.
Rapid Urbanization and Booming Construction Industry Drives the Market Growth
Improvement in the economic condition of the developing countries is increasing the per capita income of consumers.People are shifting to cities and live comfortably in homes equipped with all basic amenities.
The government of different countries focuses on fulfilling the requirements of consumers by investing in infrastructure development and constructing residential, industrial, and commercial buildings.Also, there is increased emphasis on the construction of energy-efficient buildings, which are expected to boost the demand for generators.
They are required to ensure that the power is supplied to the construction site in a case where there is no power line established to buildings. Introduction of the plan by the leading authorities such as in India, the government is undertaking initiatives like ‘Housing for All’ and ‘Smart Cities Mission’ and allocated Rs. 13,750 crores (USD 1.89 billion) to AMRUT and Smart Cities Mission are expected to fuel the demand for power back-up devices. In March 2021, the Parliament passed a bill to set up the National Bank for Financing Infrastructure and Development (NaBFID) to fund infrastructure projects in India. Therefore, the growing demand for generators for different purposes is expected to propel the growth of the global generator control panel market over the next five years.
Advancements in Technology Supports the Market Growth
Several original equipment manufacturers are introducing hybrid generators that are basically internal combustion engines combined with a battery.Hybrid generators lower the running time of generators, fuel consumption, and noise and find wide applications in mining and urban area construction centers.
Similarly, bi-fuel generators provide advantages over both gas and diesel generators.Many generator manufacturers are adopting bi-fuel technology to comply with the diesel emission standards and lower operational costs.
Inverter technology is a novel technology that makes the use of advanced electronic circuits and high-tech magnets.They are majorly used to run current sensitive appliances.
The continuous advancements in technology and innovations are expected to fuel the demand for generators which in turn is expected to accelerate the generator control panel market growth in the next five years.
The global generator control panel market is segmented into component, fuel, fitting, regional distribution, and competitive landscape.Based on component, the market is divided into control module, terminal rail, current transformer, circuit breaker.
Based on fuel, the market is divided into diesel and gas.Based on fitting, the market is divided into standalone, wall-mounted, shelf-mounted.
The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North American region, Asia-Pacific region, European region, South American region, and Middle East & African region.In terms of country, the United States is expected to hold a significant market share over the forecast period, 2023-2027.
A surge in investments by the public and private market players to support industrial development in the country and stringent government policies to ensure energy security drives the market growth in the country.
ABB limited, Advanced Diesel Engineering Ltd., Siemens AG, WoodWard, Delcot Engineering Private Limited, Highvolt Power & Control Systems Pvt. Ltd., A. P. Associates, Rajshree International Manufacturing Pvt. Ltd., General Power, Shiv Power Corporation are the leading players operating in the global generator control panel market.
In this report, global generator control panel market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Generator Control Panel Market, By Power Type:
o Single Phase
o Three Phase
• Generator Control Panel Market, By Rated Power:
o 15-40 kVA
o 50-100 kVA
o 130-160 kVA
o Above 150 kVA
• Generator Control Panel Market, By Fuel:
• Generator Control Panel Market, By Fitting:
• Generator Control Panel Market, By Region:
o North America
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global generator control panel market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06325910/?utm_source=GNW
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