Today’s industry has an increasing demand for continuous error-free power supplies to maintain high energy density and dynamic stability, which will become the main driving factor for three phase generator market growth. In the view of the ASEAN Economic Community (AEC), if the Comprehensive Regional Economic Partnership (RCEP) is successfully implemented, it will be a positive step toward the expansion of the Asia-Pacific Free Trade Area (FTAAP). It can serve as an appropriate intergovernmental forum. Free trade promotes the growth of various industries and supplements the development of manufacturing in the region, thereby increasing the demand for three phase generators in the region.
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The generators emit nitrogen oxides, carbon monoxide and particulate matter; these emissions harm the environment and residents. The United Arab Emirates has pledged to limit emissions and increase the share of clean energy in its energy mix to 24%. By the end of 2021, it will be higher than the 2014 figure by 0.2% which is a major challenge for the market.
Emerging industries such as hospitals, data centers, offices, homes, and processors that require additional power to avoid large losses will drive market growth. Smart grid application systems will drive market growth. The high noise level of these generators will cause serious problems for market development. However, many companies have also worked on and controlled the sound emission on the generator.
New product launches to flourish the market
- During mid of 2020, Caterpillar Inc. one of the key players of the market had launched a new range of Cato GC generator sets fabricated for stationary installations with a power rating between 250 kW to 600 kW. All the model of this series of generators were designed to integrate with the Cat Connect Remote Asset Monitoring technology to deliver easy management and data visualization.
- In LAMEA region, during 2019, one of the government announced its plans to deploy diesel-based generators to power one of its city. The project was set to be executed in cooperation with one of the subsidiary Kolher Power System, Inc. and TRAGADEL along with economic support by the Middle East financial organization.
- During late 2018, Rolls Royce delivered its MTU catalog generator in order to take over the previous power sourcing division of ship.
- Many companies also worked on the size and they are offering the three-phase generator in a portable module whose weight is lighter compared with the available similar products.
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Key Benefits of the Report
- This study presents the analytical depiction of the three phase generator industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Three Phase Generator market share.
- The current market is quantitatively analyzed from 2020 to 2030 to highlight the three phase generator market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed three phase generator market analysis based on competitive intensity and how the competition will take shape in coming years.
COVID-19 Impact analysis
- At the beginning of 2020, the COVID-19 disease began to spread globally. Millions of people around the world were infected with the COVID-19 disease. Major countries in the world issued permanent bans and work suspension orders. Most of the life support industries have been hit hard, and the three phase generator market also was affected.
- Due to the lockdown in major parts of the world, the manufacturing unit faced lack of manpower for production work.
- Due to the COVID-19 scenario, various device manufacturer companies across the globe have shut down their manufacturing facilities and services as countries practiced partial or full lockdown, which resulted in electricity demand for industries being reduced significantly due to the COVID-19 pandemic, which leads to the impact on this market.
- However, apart from industrial use, medical institutions need a constant power supply, and which can bring in the demand of Three Phase generator in the market.
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