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Dual Fuel Generator Market: Significantly More Than Traditional Engines
Generator is an electro-mechanical device designed to converts motive power (mechanical energy) into electrical power for use in an external circuit in domestic
Generator is an electro-mechanical device designed to converts motive power (mechanical energy) into electrical power for use in an external circuit in domestic, commercial, and industrial applications. Generators available around the globe runs on variety of fuels which includes gasoline, diesel, natural gas, LPG, and other fuel types. However, dual fuel generators are portable generators designed to run on either liquid propane or gasoline. In other words, Dual-fuel generators (DFGs) are defined as compression-ignited diesel units that can also run on some proportion of natural gas. Dual-fuel generators cost significantly more than traditional engines. However, the engine is capable of running on a single fuel or a mix of fuels, it is less costly to run over time. There are numerous advantages of duel fuel generators over traditional ones. These generators helps in eliminating the need for large-scale on-site storage of expensive fuels, such as diesel. These are designed in such a way that it can run efficiently on other fuels too. Dual-fuel generators helps in lowering the maintenance costs by reducing storage costs.
The dual-fuel generator market is expected to expand at a significant growth rate in the forecast period owing to the increasing demand for uninterrupted and reliable power supply across diverse industries such as residential, industrial, construction sites, hospital and among others is a key force expected to drive the global dual-fuel generator market over the forecast period. However, high cost and limited power generation capacity compared to standalone generators are some of the factor that is going to hinder the growth of the market. Furthermore, slowdown in oil & gas prices is creating ample opportunity window for dual-fuel generator manufactures to capture anticipatory market share. Additionally, Efforts are being taken by many companies to upgrade their research and development activities to analyze further application that is expected to generate profitable growth opportunities for the market in the forecast period.
The global dual-fuel generator market is segmented on the basis of power output, fuel type, end use and region. On the basis of power output, the market has been segmented into less than 3KW, 3KW to 10KW and above 10KW. The demand of 3KW-10KW dual-fuel generator is expected to be high owing to the demand from domestic and commercial industry for providing emergency backup to household, small business, and on-site places. On basis of fuel type, the market bifurcated into Diesel and Natural Gas, and Propane and Natural Gas. By end user, the market has been segmented into domestic, commercial and industrial applications. High demand of portable generators for industrial application due to need for higher power supply to run machines and industrial tools is expected to contribute towards growth of the market.
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In the region wise study, the global dual-fuel generator market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific which comprises China, India, South Korea, Australia and other rising economies captured significant market share followed by North America and Europe in 2017. Asia Pacific showed the fastest growth rate during the forecast period due to the emerging economies. China represents huge potential for the dual-fuel generators with the low cost of raw materials and huge production facilities in the country. However, The U.S is expected to exhibit high market growth over the forecast period owing to its early technological advancement and high capital expenditure.
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