About Dual Fuel Generator
Dual fuel generators are portable generators run on either liquid propane or gasoline. It is a compression-ignited diesel unit that can also run on some proportion of natural gas. Dual-fuel generators cost significantly more than traditional engines. The engine can run on a single fuel or a mix of fuels. These generators help in eliminating the need for large-scale on-site storage of expensive fuels, such as diesel. Dual-fuel generators help in lowering the maintenance costs by reducing storage costs.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the stiff market share occupied by leading players. The companies are implementing strategic activities such as acquisition and mergers along with collaboration with companies in other industries to help them in improving sustenance and maintaining their competitive advantages. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Dual Fuel Generator market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
DuroMax Power Equipment (United States), Sportsman Generator (United States), Champion Power Equipment (United States), Briggs & Stratton (United States), Kubota Engine America Corporation (United States), Westinghouse Electric Corporation (United States), Kohler Co. (United States), Pulsar Products, Inc. (United States), Caterpillar, Inc. (United States) and Tillotson Power Products (Ireland) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Cummins (United States), Generac Power Systems (United States), Firman Power Equipment (United States), BE Power Equipment (Canada) and Chongqing Zongshen General Power Machine Co., Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global Dual Fuel Generator market by , Application (Industrial, Commercial and Residential) and Region.
On the basis of geography, the market of Dual Fuel Generator has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. Direct Sales will boost the Dual Fuel Generator market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Power Output, the sub-segment i.e. ≥ 3KW will boost the Dual Fuel Generator market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fuel Type, the sub-segment i.e. Diesel and Natural Gas will boost the Dual Fuel Generator market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers:
Increasing Demand for Uninterrupted and Reliable Power Supply across Industries Such As Construction Sites, and Hospitals and Growing Infrastructure and Demand for High Output
Challenges:
Require High Maintenance owing to Parts Failure
Restraints:
High Cost and Limited Power Generation Capacity
Opportunities:
Reduction in Oil and Gas Prices and Upgradation in Research and Development Activities
Market Leaders and their expansionary development strategies
In July 2023, Cummins Inc. and Generac Power Systems announced a definitive merger agreement to create a global leader in power generation solutions. This combined entity will have a strong presence in the dual fuel generator market, particularly for commercial and industrial applications.
In November 2023, Volvo Penta joined forces with e-power® International and CMB.TECH to bring a 250kVA hydrogen dual fuel generator set to market. This pilot project showcases the potential of hydrogen as a clean and efficient fuel source for power generation.
Key Target Audience
Dual Fuel Generator Manufacturers, Parts and Accessories Suppliers, Distributors/Traders/Wholesalers/Retailers, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.