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A generator is a mechanical device that converts mechanical energy into electrical energy. Commercial standby generator sets are group of generators that are employed to substitute the main power supply for providing backup in case of any emergency. Standby generators are used in critcal situations as in case of an electrical outage. The generator sets have become relevant in addressing the power deficits and providing backup power supply. Standby generator sets used in various end-use industries including health care centers, educational institutes, commercial buildings, agricultures and others. These generators come with define power output levels for different applications ranging from 100 kilovolt amperes to 1000 kilovolt amperes.
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has severely affected the global commercial standby generator sets market.
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.
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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Key Market Segments
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