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DUBLIN, May 17, 2021 /PRNewswire/ The
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The generator sales market is expected to grow from an estimated USD 19.9 billion in 2021 to USD 26.5 billion in 2026, at a CAGR of 5.9% during the forecast period.
Generators can be used in standby, prime, continuous, and peak shaving applications in various end-user sectors such as industrial, commercial, and residential. The main driver of the generator sales market is the rising demand for uninterrupted and reliable power supply from end-users and increased demand for IT infrastructure management. Rising adoption of energy storage technologies can act as a restraint for the generator sales market.
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The sequence of events recorder market is projected to reach USD 31 million by 2026 from an estimated USD 25 million in 2021, at a CAGR of 4.7% during the forecast period.
Growing focus on the effective use of power resources worldwide and increasing emphasis on reducing industrial downtime and the global energy costs are factors driving the growth of the sequence of events recorder market. Moreover, growing investments in data center infrastructures and ongoing replacement of aging power infrastructures with technologically advanced power equipment are factors expected to offer lucrative opportunities for the growth of the market from 2021 to 2026. However, the easy availability of substitutes of sequence of events recorders hinders the growth of the market.