Power Generator For Military Market to Witness Strong Demand for Fuel-Efficient & Advanced Generators During 2020-2030, Says Future Market Insights
DUBAI, UAE, Sept. 28, 2020 /PRNewswire/ -- Future Market Insights (FMI) anticipates the global power generator for military market to surge at a moderate CAGR of 3.4% during the assessment period 2020-2030. The steadily surging demand for better access to power sources along with a portable generator from military agencies is poised to support growth foreseen in the market.
"The COVID-19 outbreak has crippled the power sector of some prominent economic powerhouses and is likely to witness an improbable slump in investment, liquidity crunch and other devastating challenges," says an analyst at FMI.
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Power Generator for Military Market - Key Takeaways
- Based on capacity, the up to 60 KW category accounts for the prominent market share due to the fuel efficiency and compact design of these generators.
- In terms of output, the AC generator holds close to 3/4th overall market share.
- Diesel fuel type holds a prominent market share as they are more suitable and reliable across multiple applications.
- Based on installation type, mobile and portable generators gain prominence among others as they are more compatible with several military operations.
- Based on application, Camps/accommodation and hospitals stay prominent in the market over the assessment period.
Power Generator for Military - Key Trends
- Surging demand for distributed power in key government organizations such as the military is a major growth-promoting aspect for the global market.
- Power generator installments are the favored method for enhancing energy-security performance, environment, and economy thus catalyzing the market growth.
- As troops deployments are rising overseas, together with the requirement for several modern warfare equipments, governments are investing in fortifying their defense systems by investing in robust power generation equipment in the approaching years.
- Driven by the need to reduce carbon footprint, demand for hybrid generators will increase generating a lucrative growth prospect.
Power Generator for Military - Regional Analysis