Hydrogenerators are used to convert mechanical power into electric power by means of turbines. They are especially utilized in sectors such as army, commercial, residential, and commercial. They allow cost-effective hydrogen supply directly on-site for fleets by the usage of fuel cells. The hydrogenerators market is anticipated to witness growth in the near future. Growing demand for energy, rising manufacturing activity in developing countries, and technological improvements are anticipated to drive the hydrogenerators market growth during the forecast period. The speed of the generator and subsequent production of power vary accordingly. Large hydrogenerators are stationery in nature while portable types are increasingly becoming crucial for small-size industries. Increasing fuel cell demand for economic, residential, and automotive industries is expected to stimulate the market growth.
COVID–19 scenario analysis
The world has to suffer the effect of this pandemic, which likely to bring about considerable demand & supply gap, manufacturing delay, and low consumer demand for end products throughout industries. Many countries have witnessed drop in the economic activity due to the lockdown. For example, in India, the power consumption has suffered a fall of 26% in energy consumption since 18th March. In addition, according to Power System Operation Corporation (POSOCO), the overall country’s energy consumption has dropped by 3.5K GWh in a day. These factors are hampering the product demand due to the outbreak. However, the market is anticipated to regain its importance after the end of the pandemic.
Top impacting factors: Market scenario analysis, trends, and drivers
Improvement in the hydro-generators market is propelled through the need for adoption of excess depletion of fossil fuels, cleaner fuel sources, and increased electricity demand. This is expected to reinforce the hydrogenerators market in the coming years. Rapid increase in the industrial application of hydrogen gas is expected to increase the demand for hydrogenerators worldwide. Furthermore, with growing urbanization across the globe, power consumption has accelerated extensively over the years. This is predicted to boost the demand for hydrogenerators across the globe over the forecast period. The demand for high-quality hydrogenerators and requirement of improved productivity of hydrogen can be generating market opportunities for the global hydrogenerators market. The maintenance and operating cost of a hydrogenerator is considerably high, which is expected to restrain the growth of the hydrogenerators market over the forecast period. Furthermore, a few hydrogenerators have restricted energy generation capacity. This is expected to have a negative impact on the sales of hydrogenerators and derail the growth of the hydrogenerators market.
The growth and research on compact hydrogenerators guarantees a prime opportunity in the hydrogenerators market. This is probable to drive new consumer demand with advanced performance association. Moreover, developing cost-effective storage capacities are anticipated to boost the growth of the hydrogenerators market. Furthermore, rising product demand in IT and healthcare is probable to drive the market growth. Additionally, growing private and public partnerships in regards to energy generation, use of digital technology to monitor efficient energy use, and automation are anticipated to drive considerable growth for the hydrogenerators market. The growing technological improvements and futuristic technologies, such as Big Data, are predicted to drive the growth of the hydrogenerators market.
Regional insights
Region-wise, the global hydro-generator market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The demand for hydro-generators is expected to increase extensively in the Asia-Pacific region due to growing government investments in setting up power plants and increasing electrification in rural and remote areas. North America is also predicted to grow substantially over the forecast duration due to large demand for power, widespread research investment for renewable energy, and guidelines such as net-zero carbon footprints.
Key benefits of the report:
- This study presents the analytical depiction of the global hydrogenerators market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global hydrogenerators market share.
- The current market is quantitatively analyzed to highlight the global hydrogenerators market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Hydrogenerators Market Report Highlights
| Aspects | Details |
 By Capacity |
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 By End Use |
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 By Region |
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 Key Market Players | Toshiba Corporation, Ingeteam Corporation S.A., General Electric, Cummins Inc., Wartsila Corporation, Arizona Hydrogen Manufacturing Inc., Pentaflo Hydro Pvt. Ltd., Andritz Hydro GmbH, Mitsubishi Heavy Industries Ltd., Kirloskar Electric Company Ltd. |
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