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About this market
The gradually increasing number of benefits and applications of dual fuel generators over the traditional single fuel generators is one of the key growth drivers for the global dual fuel generator market. Unlike traditional generators. the dual fuel generators deploy an advanced dual fuel control system that runs on both gas and diesel. which makes them more flexible when it comes to supplying emergency power. Moreover. fuel prices have been volatile in the last decade: the cost of fuel accounts for a considerable share of the total operating cost for end-users. The prices of oil and gas also increase and decrease periodically depending on the demand and supply dynamics. Diesel as a fuel source for generators is gradually losing its popularity as compared to natural gas as the latter is a cleaner fuel source. analysts have predicted that the dual fuel generator market will register a CAGR of more than 4%by 2023.
Market Overview
Unreliable power grid infrastructure
The factors are encouraging consumers worldwide to increasingly adopt dual fuel generators for backup power supply and counter power outage and power shortage issues. The increasing frequency of power grid failures is likely to accelerate the demand for dual fuel generators across the end-use industries during the forecast period.
Availability of alternatives
Power packs are ideal for residential applications and are expected to pose a considerable challenge to the portable gas generator segment. Therefore, the dual fuel generator market specifically, in the residential sector will face stiff competition from the power pack market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the dual fuel generator market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
The gradually increasing number of benefits and applications of dual fuel generators over the traditional single fuel generators is one of the key growth drivers for the global dual fuel generator market. Unlike traditional generators. the dual fuel generators deploy an advanced dual fuel control system that runs on both gas and diesel. which makes them more flexible when it comes to supplying emergency power. Moreover. fuel prices have been volatile in the last decade: the cost of fuel accounts for a considerable share of the total operating cost for end-users. The prices of oil and gas also increase and decrease periodically depending on the demand and supply dynamics. Diesel as a fuel source for generators is gradually losing its popularity as compared to natural gas as the latter is a cleaner fuel source. analysts have predicted that the dual fuel generator market will register a CAGR of more than 4%by 2023.
Market Overview
Unreliable power grid infrastructure
The factors are encouraging consumers worldwide to increasingly adopt dual fuel generators for backup power supply and counter power outage and power shortage issues. The increasing frequency of power grid failures is likely to accelerate the demand for dual fuel generators across the end-use industries during the forecast period.
Availability of alternatives
Power packs are ideal for residential applications and are expected to pose a considerable challenge to the portable gas generator segment. Therefore, the dual fuel generator market specifically, in the residential sector will face stiff competition from the power pack market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the dual fuel generator market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
