Generator Sets Market is estimated to surpass $ 25.0 Billion mark in 2018 and reach USD XX Billion by 2026, at a Compound Annual Growth Rate (CAGR) of XX % during the forecast period 2018-2026 globally.Growing demand for continuous and reliable power supply driven by inadequacy of electrical grid infrastructure will stimulate the Generator Sets Market size.
According to the International Energy Agency (IEA), electrical grid supply is reported to be unavailable for over 540 hours per year across the sub-Saharan Africa region.Generator Sets MarketGrowing digitization accompanied by exponential expansion across the data center infrastructure will drive the generator sets market growth.
According to the Ponemon Institute, an average data center outage cost has dramatically increased by over 38 percent from USD 505 thousand in 2010 to USD 740 thousand in 2015.
The burgeoning expansion of the data centers sector is invariably accompanied by significant growth in the global market.
These units are being increasingly installed in multiple industries including mining, oil & gas, a construction where grid access is limited.
For instance, in September 2017, Hurricane Maria, a Category 4 storm hit hard Puerto Rico leaving over 1.57 million electricity customers without power.