Global dual fuel generator market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 4% during the forecast period.
Global Dual Fuel Generator Market
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Dual-fuel generators are also called hybrid fuel generators. This generator has the capability to run on two or multiple types of fuel at the same time, generally propane and gasoline or sometimes natural gas. This generator offers more flexibility in operational costs, storage run and time.
A growing demand for reliable and continuous power supply across various industries such as construction sites, residential, hospital, industrial and many others is the major driving factor behind the growth of the market. A rising adoption of dual fuel generators by contractors who are working in remote job sites and increasing demand for dual fuel generators from healthcare industry are expected to improve growth of the market during the forecast period. Dual fuel generators provide some potential benefits such as ability to use the most suitable fuel as per users circumstances, dependability and reliability, simple switching between fuels, durability and effectiveness, which are ultimately propelling the growth of the market.
However, the major downside of a dual fuel generator is the reality that they tend to be bulkier than any other traditional generators, which could hamper the growth of the market.
Global Dual Fuel Generator Market: Segmentation Analysis
By application, industrial segment dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. Increasing demand for portable generators for various industrial applications owing to the requirement for high power supply to run industrial machines and tools is attributed to the growth of the market. Alternatively, commercial and domestic segments are projected to witness fast growth at a CAGR of X% during the forecast period. A rising demand of dual fuel generators in healthcare facilities for continuous power supply during power failure, especially in the applications such as life support machines is impelling the growth of the market.
Global Dual Fuel Generator Market: Regional Analysis
Region wise, Asia pacific held the largest market share in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. The economies such as China, Japan, South Korea, and India are the major key contributors behind the growth of the market. The growth is attributed to the massive production facilities and availability of raw materials with low costs.
Massive availability of natural gas, increasing frequency and severity of natural disasters, rising demand for noiseless gas generators and user-friendly features of dual fuel generators with an electrical starter are driving the growth of the market in the region.
Global Dual Fuel Generator Market: Key Development
• In 2017, DuroMax Power Equipment announced the arrival of its DuroMax XP15000E dual fuel generator.
The objective of the report is to present a comprehensive analysis of the Global Dual Fuel Generator Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Dual Fuel Generator Market dynamics, structure by analyzing the market segments and projects the Global Dual Fuel Generator Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Dual Fuel Generator Market make the report investor’s guide.
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The Scope of Global Dual Fuel Generator Market
Global Dual Fuel Generator Market, By Power Output
• Less than 3KW
• 3KW to 10KW
• Above 10KW
Global Dual Fuel Generator Market, By Fuel Type
• Diesel and Natural Gas
• Propane and Natural Gas
Global Dual Fuel Generator Market, By Application
Global Dual Fuel Generator Market, By Region
• North America
• Asia Pacific
• South America
• Middle East and Africa
Global Dual Fuel Generator Market, Key Players
• DuroMax Power Equipment
• Sportsman Generator
• Champion Power Equipment
• Briggs & Stratton
• Kubota Engine America Corporation
• Westinghouse Electric Corporation
• Kohler Co
• Tillotson Power Products
• Pulsar Products, Inc
• NorthStar Generators
• Smarter Tools, Inc
• Caterpillar, Inc
• WEN Products
• Generac Power Systems
• Perkins Engines
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