Market Synopsis
Generators are dependable source of back up and they are perfect when you need power when it is hardest to get it. Most of the generators across the globe run on the diesel and gasoline. Combustion motor in generators releases the harmful fuels gases which has created the serious environmental issues. Most of the studies were undertaken to overcome this issue and developed the generators which runs on the bio fuel to reduce the harmful emissions.
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Multi-fuel generators are able to run on the more than one fuel type. One of the biggest reasons behind the high demand from consumer for these generators is convenience. Multi fuel generators are advantageous when switching job sides is necessary. Fuel availability changes from place to place. Multi fuel generators are more efficient than single fuel generator.
Market Growth Factors
Need of uninterrupted power supply in commercial and industrial sectors, is the major driving factor for this market. Increased in the price of the diesel and gasoline boosted the demand for multi fuel generator. Rapid urbanization in developing economies, rising demand for data centres & IT facilities and growing environmental regulations regarding emissions are some of the other growth factors for this market. Growing natural gas infrastructure across the globe will also push the demand for multi fuel generators.
Market Segmentation
Multi-fuel generator market is segmented on the basis of Fuel type, Power Ratings, Application type, Generator type and End user. On the basis of fuel type market is categorized as Dual Fuel and Tri-Fuel. Dual fuel generators run on the two types of fuel and tri- fuel generators run on Liquid Petroleum, Natural gas and traditional gasoline. Diesel is not often found in Dual or Tri fuel generator. On the basis of application market is classified as Standby Gensets, Continuous Gensets and Peak Shaving Gensets. Generators are available in two variants: Portable and Stationary. Portable generators are suitable residential applications. On the basis of power rating, multi fuel generators are classified as Below 350Kva, 351kVA to 1000kVA and above 1000Kva. End users for this market are classified as Residential, Commercial and Industrial. Rapid urbanization is propelling the demand for multi fuel generators in residential segment.
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Regional Analysis
In terms of geography market is divided into North America, Europe, Asia-Pacific and LAMEA. Asia Pacific is expected to be the largest market for multi-fuel generators because of the increased demand for interrupted power supply in emerging economies such as India and China.
Competitive Analysis
Key players in the multi-fuel generator market are Generac Holdings Inc., Kohler Co., Powerland, Honda Power Products, Briggs & Stratton, Yamaha Motor Corporation, Cummins Inc., DuroMax, Pulsar Products., Champion Power Equipments and others. Along with the top players market is comprises of the regional, mid-sized organizations.
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