US Electric Generators Market - Analysis of Growth, Trends and Forecasts (2022 - 2030)
SKU ID : INH-13100403 | Publishing Date : 08-Feb-2018 | No. of pages : 115
Heightened Power Blackouts – Driving the Market
Factors, such as frequent hurricanes and thunderstorms, cause disruption to the well-established, but aging electricity transmission network, in the country. While there exist backup generation facilities, they are not sufficient to fulfill the energy requirement of the technological super power. In such a scenario, the usage of electric generators is necessary, without which, the loss incurred is often in multi-billion dollars. Electrical power outages, surges, and spikes are estimated to cost more than USD 150 billion in annual damages to the US economy. The power outages in the recent years have drastically increased in the United States, owing to the aging power grid infrastructure. In 2016, approximately 18 million people were affected by 3,879 power outages lasting over 48 minutes on average, with California topping the list of states in the United States. Electric generators’ demand is expected to increase during the forecast period, to manage grid efficiency and ensure that electricity supply is in a constant balance with the power demand.
Natural Gas-fired Electric Generators to Register High Demand
In 2016, 42% of the operating electricity generating capacity in the United States was accounted by the natural gas-fired generators. Furthermore, an additional 11.2 GW and 25.4 GW of natural gas-fired generating capacity is scheduled for commissioning in 2017 and 2018, respectively. On a combined basis, these 2017-18 additions would increase natural gas capacity by 8% from the capacity in 2016. Depending on the utilization and timing of these plants, the new additions would further strengthen the status of natural gas as the primary energy source of power generation in the country, even if natural gas prices rise moderately. Moreover, US shale revolution has opened up vast reserves of natural gas for consumption, which blends perfectly with the nation’s ambition of power generation from environmental-friendly fuel. The benefits possessed by natural gas and nation ambition of clean energy-based power generation are expected to increase the demand for natural gas-fired generators across residential, commercial, and industrial sectors of the United States. The demand for natural gas-fired generators from the oil & gas production sites have seen an unprecedented increase during the past few years and is expected to increase further during the forecast period, 2018 - 2023.
Notable Developments in the Market
• May 2017: Caterpillar adds 12 kW model to its portable power range.
• February 2017: The US registers largest net change in its electric generation capacity since 2011, with a special focus on natural gas.
MAJOR PLAYERS: Briggs & Stratton Corporation, Caterpillar Inc., Cooper Corporation, Cummins Inc., Generac Holdings, Inc., Kohler Co., MTU Onsite Energy, amongst others.
Reasons to Purchase this Report
• Identify the drivers, restraints, and government rules and regulations supporting the demand for US electric generators.
• Analyze the various perspectives of the country’s market dynamics with the help of PESTLE analysis.
• Analyze the demand forecast of the market in terms of fuel and capacity type, with in-depth analysis.
• Identify the applications of electric generators across various sectors and forecast the market accordingly.
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3 months analyst support, along with the Market Estimate sheet (in excel).
Customization of the Report
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