The Asia-Pacific region holds the major share of the global commercial standby generator sets market due to the rapid urbanization and increases in power supply in the emerging economies such as India and China. The presence of numerous industries and the rapid development in the manufacturing and agricultural sectors of the region have driven the growth of the market in this region. The market in the North America region is expected to grow significant owing to the growing infrastructural developments in the developed nations like the U.S.
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In the present world, where the demand for power has been increasing at a significant pace, having a reliable source of power is of utmost importance. The increasing frequency of natural calamities leading to power outages which is creating the need of standby generator sets. A steady and uninterrupted flow of electricity is a prime concern for all industries especially for the manufacturing sector and the health care industry. The need of uninterrupted power supply manufacturing industry is creating a space for the utilization of generator sets leading to growth of this market. The standby generators are the main source of power in any kind of social event and are also used in construction activities.
Moreover, advancements in the research and developments aim towards reducing the emissions of greenhouse gases from the generators into the environment. As a result natural gas powered generators and gaining popularity among the different sectors of businesses. Standby generators also play a vital role in the industries of the utility sector that provide the basic amenities such as water treatment plants, sewage services and others for emergency power supply. In addition, the usage of standby generator sets in the agricultural sector for pumps and other irrigation systems has also escalated the growth for the global commercial standby generator sets market.
Key benefits of the report:
- This study presents the analytical depiction of the global commercial standby generator sets 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 global commercial standby generator sets market share.
- The current market is quantitatively analyzed from 2020 to 2029 to highlight the global commercial standby generator sets market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global commercial standby generator sets market analysis based on competitive intensity and how the competition will take shape in coming years.
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COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has severely affected the global commercial standby generator sets market.
- Due to the strict lockdowns imposed by the governments of different nations, the business activities of various sectors such as offices, educational institutions, commercial and public places have come to a halt. As a result t he demands for standby generator sets decreased exponentially and thereby affecting the market.
- Major applications of standby generators sets were in construction industry and in different events and live shows. But amidst the pandemic, there is a sharp decrease in construction work and the live shows & events are all been canceled. This have caused severe downfall in the demand for standby generators in market.
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