Rapid power generation and oil & gas activities are some major factors propelling the growth of global diesel generator monitoring system market.
According to TechSci Research report, “Global Diesel Generator Monitoring System Market By Components (Sensor, Tracking Device, Power Supply, Monitoring Station and Others), By End User (Residential, Commercial, Industrial, Telecom and Others), By Region, Forecast & Opportunities, 2025”, the market is anticipated to undergo a significant rate of growth during the forecast period. Key factors driving the growth of global diesel generator monitoring system market are rapid power generation and oil & gas activities due to increasing global energy demand and rising industrialization in developing nations. According to International Energy Agency (IEA), in 2018, energy demand grew by 4% (900TWh) worldwide which was fulfilled through coal and natural gas. The growing concerns pertaining to rise in carbon emissions from energy generation creates the need for clean, eco-friendly and sustainable energy generation. This acts as a major growth factor for diesel generator monitoring system market.
Additionally, various government around the world are introducing strict policies and regulations in an effort to lessen the carbon emissions and their harmful impact on environment. With more countries adopting these strict regulations, global diesel generator monitoring system market is expected to grow substantially over the next five years. Furthermore, growing awareness pertaining to pollution, climate change and environment degradation is creating the demand for diesel generator monitoring systems. Also, a large number of companies are investing heavily on environment friendly power generation technologies which is further supporting the growth of global diesel generator monitoring system market.
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“Global Diesel Generator Monitoring System Market”
The global diesel generator monitoring system market can be segmented based on components, end user and region. Based on component, the market can be categorized into sensor, tracking device, power supply, monitoring station and others. Among them, power supply segment is expected to hold a significant share during the forecast period owing to growing power demand and consumption around the world.
Based on end user, global diesel generator monitoring system market can be split into residential, commercial, industrial, telecom and others. Out of them, the commercial segment is expected to undergo fastest CAGR during the forecast period. The reasons can be attributed to the wide usage of diesel generators in data centers, educational institutions & government centers and growing implementation of diesel generator monitoring systems to follow the regulations in order to reduce carbon emissions.
Major players operating in the global diesel generator monitoring system market are General Electric Company, Zoho Corporation Pvt. Ltd, Eaton Corporation, ABB Ltd, Maven System Pvt. Ltd., Goodall Industrial, Honeywell International and Cummins Inc., among others. Companies are investing on innovations and technologies to introduce advanced products in the global market. Moreover, they are also undergoing inorganic growth strategies such as mergers & acquisitions, strategic collaborations, partnerships and joint ventures in order to increase their revenue share in global diesel generator monitoring system market.
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“In terms of demand, North America is a dominant region for diesel generator monitoring system market owing to increasing oil and gas activities in offshore regions of United States. However, increasing maritime security activities and significant rise in offshore oil and gas production activities in countries like India, China and Japan are expected to make Asia Pacific fastest growing market for diesel generator monitoring system companies in the coming years, ” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Diesel Generator Monitoring System Market By Components (Sensor, Tracking Device, Power Supply, Monitoring Station and Others), By End User (Residential, Commercial, Industrial, Telecom and Others), By Region, Forecast & Opportunities, 2025”has evaluated the future growth potential of diesel generator monitoring system market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global diesel generator monitoring system market.
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