Electrical generator is an electromechanical equipment that aids in generating electrical energy from mechanical energy. They are the commonly utilized equipment when it comes to harnessing electric power from other sources of energy such as fossil fuel, wind and nuclear. Both Alternating Current (AC) and Direct Current (DC) can be generated from the electrical generators based on the requirements. With the growing working class population, rapid infrastructure development and industrialization, the demand for electric power has grown exponentially, which has positively influenced the growth of electrical generators market across the globe. The potential of kinetic energy, which can be derived from renewable sources of energy for the generation of electricity, has considerably increased over the years due to developments in this area that have shaped the need for special purpose electrical generators to further augment the growth of the electrical generators market in the upcoming years.
In a world largely run by electrical power, the requirement of electrical generators can be felt across various verticals and domains, especially in the power utilities sector. Expansion of power grid lines has directly impacted the need for large capacity electrical generators in order to transmit large amount of electrical power over the lines with minimal losses. Though renewable sources of energy can be considered as the primary power resources of the future, the use of diesel for electric power generation takes up significant market share in the present scenario due to cheaper costs involved with diesel procurement, instant generation of electricity and relatively less maintenance required for its running.
Gas based electrical generators are expected to be the fast growing power generation equipment and are projected to take up the market share held by the diesel run electrical generators, as these emit less volatile pollutants. A low impact restraint that can slightly harm the growth of the electrical generators market is the increasing use of solar cells for electricity generation, which involves very less moving parts.
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Though the rate of industrialization and urbanization in the Asia Pacific region is on par with the developments taking place in North America and Western Europe region, the availability of electric power from the power grid is quite low necessitating the utilization of electrical generators as a backup to curb power supply interruptions, thereby increasing its demand leading to the growth of the market. This is especially helpful when operations such as mining and construction activities taking place in remote locations rely on such electrical generators when the availability of electricity from the power grid lines is problematic.