Technavio Announces Top Three Emerging Trends Impacting the Global Industrial Gas Generator Market Through 2019
Technavio’s latest report on the global
industrial gas generator market provides an analysis on
the most important trends expected to impact the market outlook from
2015-2019. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.
Anju Ajaykumar, a lead analyst at Technavio for power
industry, says, “The need for an uninterrupted power supply during power
outages caused by natural calamities or faults in electric networks has
boosted the adoption of gas generators in the industrial sector. For
instance, natural disasters in the US and Japan in the last four years
left many industrial end users without an electricity supply for several
days, causing inconvenience and loss of revenue.”
The top three emerging trends driving the global industrial gas
generator market according to Technavio energy
research analysts are:
-
Remote monitoring system in power generators
-
End users focusing more on renting generator services
-
Energy delivery being revolutionized by bi-fuel technology
Remote monitoring system in power generators
According to Technavio analysts, remote monitoring system in power
generators is one of the fast-trending factors in the global industrial
gas generator market. For instance, HMS Industrial Networks, a Swedish
company pioneering in industrial communication, has developed Netbiter,
a remote management solution for power generators. Some of the basic
features of this remote management solution are:
-
Monitoring health and readiness
-
Remote control as well as operation
-
Alarm management
-
Generator fleet management
-
Configuration of generator controllers remotely
End users focusing more on renting generator services
Industrial end users often resort to the adoption of rental services
rather than owning large gas generators. This is more evident in
industries set up in developing nations where total cost of ownership is
an important aspect of the total revenue earned. The market that handles
this rental service is known as the power rental market. Revenue earned
is evaluated in terms of revenue earned either by renting power backup
equipment or from a temporary power plant. The power rental market, as
expected by Technavio, will be valued at USD 21.10 billion by 2020,
growing at a CAGR of over 12%.
“The main aspect that is driving the power rental market is the
unavailability of continuous power supply by the electric utilities due
to faults or breakdown in the network. As per World Energy Outlook,
approximately 1.3 billion people in the world are unable to access
electricity in 2014,” says Anju.
Energy delivery being revolutionized by bi-fuel technology
A significant portion of the operating cost for many industries, such as
the oil and gas industry, is represented by the fuel used in generators.
With the increasing price of diesel over the years, industrial users are
looking for a cheaper alternative, which serves the purpose and is cost
effective as well. The price of CNG is quite affordable and cheaper than
diesel. According to US Energy Information Administration, national
average price for CNG and diesel between April 1 and April 15, 2015 were:
-
Natural gas (CNG): USD 2.09/GGE
-
Diesel: USD 3.06/gallon
Small-sized generators using natural gas as the fuel source are also
quite affordable. However, when it comes to generators with higher
capacities (above 30 kW), diesel generators are priced more cheaply. End
users owning diesel generators have been trying to find a cheaper
alternative fuel rather than buying a new one. Thus many vendors have
now come up with engines that run both on diesel and CNG.
Browse Related Reports:
Purchase these three reports for the price of one by becoming a
Technavio subscriber. Subscribing to Technavio’s reports allows you to
download any three reports per month for the price of one. Contact enquiry@technavio.com
with your requirements and a link to our subscription platform.
About Technavio
Technavio is a leading global technology research and advisory company.
The company develops over 2000 pieces of research every year, covering
more than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
If you are interested in more information, please contact our media team
at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160324005030/en/
Copyright Business Wire 2016