Global Power Generator For The Military Market is Projected to Register a 3.5% CAGR : Says FMI

The power generator for the military market accounted for a 15% market share of the overall generator market. global power generator for the military market is projected to register a 3.5% CAGR and top a valuation of US$ 1.44 Bn by 2030.

Uninterrupted and dependable assets of electricity delivery are vital for a successful military operations. Power generators have applications throughout numerous segments of the military industry. Against this backdrop, Future Market Insights (FMI) foresees rewarding potentialities for power generator producers inside the army market.

Power generators are used for various tactical operations within military agencies. On account of changing landscape, the inclination toward compact and lightweight designs is higher. These generators are touted as advanced equipment that offers robust output at a low cost. Driven by the demand for improved fuel efficiency, sales of compact generators are expected to pick up in the coming years.According to FMI, the demand for advanced and fuel-efficient generators will accelerate in the coming years. Increasing budget allocation towards strengthening the defence sector will subsequently aid the expansion of the market. 

FMI’s report on the power generator for the military market highlights the specific needs of the defence and military sectors. It identifies hidden growth opportunities for the market players, besides cautioning them against potential threats.

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Some of the key takeaways from the report are:

  • Market players are likely to witness attractive growth opportunities as military agencies focus on establishing integrated power systems. This will invariably fuel the demand for generators
  • Hybrid generators are likely to comprise an exceptionally lucrative product category. Ensuring environmental safety is high on the agenda of military agencies. They are keen on investing in fuel-efficient technologies that will also offer significant cost reduction
  • Backed by increasing military spending, North America is forecast to emerge as the dominant market for power generators
  • While diesel will remain the preferred fuel type, tightening environmental laws will boost growth prospects for natural gases as potential sources of fuel
  • Demand for power generators will remain significantly high in field hospitals and field camps and accommodations

The COVID-19 Impact

The COVID-19 outbreak has sent shockwaves across the globe. Experts even presume it to be the worst crisis the world has witnessed in the recent past. The crisis was unprecedented, resultantly it crippled the manufacturing sector of some of the major economic powerhouses.

By the time the global economy recovers from the jolt, manufacturing is expected to be among the worst-hit sectors. The incredible slump in investment, subsequently revenue generated within the industry paints a gory picture.

The power sector is no stranger to the crisis. It is reeling from underpayment delays and deficits. Government-owned distribution companies are particularly hampered. Nationwide lockdowns have posed unique and devastating challenges. The liquidity crunch is threatening several companies within the industry.

Who is winning?

Leading companies operating in the power generator market have an impressive global presence backed by a strong distribution and sales network. Because the market is fairly consolidated, Tier 1 companies are expected to account for the lion’s share.

Market players will primarily focus on expanding their global footprint and product portfolio. Considering this, besides mergers and acquisitions, product launches will remain highly preferred strategic moves among competitors.

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FMI profiles some of the leading companies operating in the global market. These include Cummins Inc., Caterpillar Inc., Rolls-Royce Holdings plc, HIMOINSA, Harrington Generators International, Teknel SRL, GRUPEL S.A., VÝVOJ Martin, HITZINGER GmbH, Fischer Panda GmbH, Ascot Industrial S.r.l., GREEN POWER SYSTEMS S.r.l., Kohler Co., Kirloskar Oil Engines Ltd., and Ausonia S.r.l.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centres in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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