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At 5.79% CAGR, Generator Sales Market to hit USD 31.78 Bn by 2027, says Brandessence Market Research

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According to Brandessence market research, the generator sales market size is Valued at USD 21.43 Billion in 2020 and expected to reach USD 31.78 Billion by 2027. The generator sales market size is expected to grow at 5.79% CAGR during the 2021-2027 period. Growing demand for portable generators in various industrial sectors including IT/Telecom, Power, Marine, Oil & Gas, healthcare, mining, and others remains a strong driver of growth.

According to Brandessence market research, the generator market is likely to promise major growth during the 2021-2028 period, as demand for electricity for applications like electric vehicle promises major uptake. Even during the pandemic, the demand for electric vehicle outstripped estimates, and rose against the tide of falling vehicle sales for key manufacturers. Today, ‘100kva generators for sale’ ads are common for mid-range applications like at offices, restaurants, and residential buildings. However, in near future the 100kva generators for sale can be a necessity for households, as increased number of home appliances, their growing electricity consumption, and incessant demand for connectivity, with major power consumption of electric vehicles are likely to drive growth for the generator sales market. The 100kVa generator is known for its diesel-based, rugged, efficient, and high-block load capacity application. Such generators may be essential to power next-gen homes in the near future.

“Factors such as amendment of norms and issuing of favorable regulations and policies regarding gas and diesel generators, increasing awareness about the environment and growing demand for IT facilities and data centers are driving the generator sales market”

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As Covid-19 wanes, and industrial output resurges, the demand for power generation continues to pick up robust pace. According to the International Energy Agency, the demand for electricity in residential areas has increased in most economies around the world. As a result of increased lockdowns, consumers increasingly spend time at home, with more time to undertake hobbies, and other activities like watching the Tele. In the first week of April 2020, residential demand in some European countries reached its peak at 40% higher than in the same period in 2019. The increased prospect of a covid-free economy, relatively stable industrial activity, and increased demand in residential sector are likely to remain key drivers of growth in generator sales market.

Generator Sales Market Trends

According to the World Bank, the typical outages in firms around the world averaged to 6.19 per month. Moreover, in 2020, over 53% firms experienced power outages per month, according to the World Bank data. This number is significantly high for firms who are looking to compete and gain a competitive advantage over global rivals. This is partially the reason why firms in India, and China register a strong demand for portable diesel generators. The growing demand for power generation to tackle intermittent supply issues has driven firms to experiment with different generator sets, with increased focus on renewable energy.

The increased access to electricity is also likely to be a major driver of growth for players in the generator sales market. In 2012, the percentage of global population with electricity access remained at 84.73%. On the other hand, it increased to 90.08% in 2019. The growing access to electricity is likely to lead to increased demand for power generation, resulting in more pressure on already constrained supply in developing countries. Furthermore, the increased shift towards renewables is also expected to put more pressure on power generation, as consistency of supply will likely be an issue in the near future.

The demand for renewable generator remains strong in the generator sales US market. It is estimated that the demand for power backups in key states like California remain at an all-time high, with nearly 90% of new sales registering as diesel generators. In Areas like Bay Area, and South Coast, the number of generators have jumped by 34% and 22% over the 2018-2021 period. Furthermore, the generators remain key to pumping power for major companies in the area, and this remains the most promising prospect for growth for players in the generator sales market around the world.

Diesel fuel generator use remains important even in developed countries, with remote places in states like Alaska relying solely on diesel generators to produce electricity. Furthermore, many industrial facilities, hospitals, institutional facilities, and large buildings rely on diesel generators to produce electricity. The application of these for emergency power, and backup remain strong driver of growth in the generator sales market. However, despite their major implication renewable energy sources are replacing diesel generators in various sectors like agriculture, industrial, and others, due to their low-cost electricity generation, and hybrid application. In 2020, the US generated 4,009 billion kilowatthours of electricity from utility-scale generators. Moreover, additional 41.7 billion kWh was produced using small photovoltaic systems. Furthermore, while 60% of total electricity generation came from fossil fuels, nearly 20% was generated using renewable energy sources. Similar trends are being witnessed globally, as countries chase the horizons of sustainable energy future around the world.

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Global Generator Sales Market Segmentation –

By Type

  • Diesel Generator Sales
  • Gas Generator Sales
  • Other Generator Sales

By Power Rating

  • Below 100 kVA
  • 100kva-350 kVA
  • 351-1,000 kVA
  • Above 1,000 kVA

By Application

  • Standby Gensets
  • Prime Or Continuous Gensets
  • Peak Shaving Gensets

By End-User

  • Residential
  • Commercial
  • Industrial
  • Others

Generator Sales Market: Competitive Analysis

The global generator sales market is a competitive, complex, and challenging landscape. The landscape remains fragmented as the barriers to entry remain relatively low, and new entrants from all regions continue to engage in advancements in manufacturing technology in the generator sales market. The growing fragmentation in the market has given significant rise to acquisitions, mergers, and attempts to launch new products to meet a diversified end-use globally. Key players in the generator sales market continue to focus on catering to new industries, as increased product advancements, and growing demand for sustainability expands application for renewable generators globally. Some key players in the global generator sales market are

  • Rolls-Royce Holdings (UK),
  • Caterpillar, Inc.
  • Cummins, Inc.
  • Generac Holdings, Inc.
  • Kohler Co.
  • Mitsubishi Heavy Industries, Ltd.
  • Briggs & Stratton Corporation
  • Kirloskar Electric Company Ltd.
  • MQ Power Corporation
  • Rolls-Royce Holdings PLC. (MTU Onsite Energy)
  • Wärtsilä Corporation
  • Wacker Neuson
  • Yanmar Co., Ltd.
  • General Electric
  • Honda Motor Co., Ltd

Generator Sales Market: Regional Analysis

European generator sales market remains a promising prospect for growth globally. The large numbers of local suppliers in the European generator sales market continue to drive major innovation globally. Growing sustainability drive in the region also promises key innovation in the manufacturing of generators, promising new advancements to meet seasonal demands locally, as well, as globally. The growing demand for diesel generators to meet industrial demand in Asia Pacific, and residential demand in European region remain promising prospect for growth in the global generator sales market.

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Sweden
  • Netherland
  • Turkey
  • Switzerland
  • Belgium
  • Rest of Europe

Asia-Pacific

  • South Korea
  • Japan
  • China
  • India
  • Australia
  • Philippines
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Rest Of APAC

South America

  • Mexico
  • Colombia
  • Brazil
  • Argentina
  • Peru
  • Rest of South America

Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest Of MEA

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Artificial Intelligence

SQream’s No-Code Platform Panoply Earns 21 G2 Badges in Key Customer Satisfaction Categories for Spring 2024 Report

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These badges demonstrate Panoply’s Continuously Unparalleled Excellence in data warehousing and data extraction based on compiled user reviews
NEW YORK, April 16, 2024 /PRNewswire/ — SQream, the GPU accelerated data processing and analytics company, announced today the remarkable achievement that its no-code ELT and analytics platform Panoply, has received 21 prestigious G2 badges for Spring 2024. These accolades highlight Panoply’s continued commitment to excellence and innovation in the data warehouse and ELT (Extract, Load, Transform) space, and underscores Panoply’s dedication to their customers, particularly in the realm of ease of use, and marks the highest number of badges awarded to the company in one report to date.

G2, a prominent authority in business software and service evaluations, leverages the collective knowledge of its user community to aid individuals in making well-informed choices regarding software and services for their enterprises. The G2 Spring 2024 Report rankings underscore Panoply’s significance to small- and medium-sized businesses grappling with data extraction challenges and highlight the exceptional simplicity of Panoply’s no-code approach.
“We are truly honored to receive 21 G2 badges, which reflect Panoply’s year-on-year growth in customer satisfaction. Simplifying data management in the no-code ELT space is at the core of our commitment to our customer base, and we are thrilled to see that Panoply’s exceptional solutions driving data transformation consistently receive this trusted stamp of approval,” said Ami Gal, CEO and Co-Founder of SQream. “We look forward to advancing our strategy of delivering robust data management solutions across all business types—from SMBs leveraging Panoply for streamlined cloud-based warehousing to enterprises implementing GPU-accelerated analytics with SQream, both in the cloud and on-prem. Our commitment remains to empower every organization to maximize their data potential and drive business success.”
Panoply has consistently set the industry standard for delivering user-friendly solutions that empower organizations to harness the full potential of their data. In the Spring 2024 G2 reports, Panoply earned badges in a wide array of categories, both for their data warehouse capabilities and ETL tools, showcasing its exceptional performance and dedication to simplifying complex data processes, including:
Data Warehouse Category: 
Best Estimated ROIBest Estimated ROI – Mid-MarketBest Support – Small BusinessEasiest AdminEasiest Admin – Mid-MarketEasiest Admin – Small BusinessEasiest Setup – Mid-MarketEasiest to Do Business With – Small BusinessEasiest to UseEasiest to Use – Small BusinessFastest Implementation – Small BusinessHigh PerformerHigh Performer – Asia PacificHigh Performer – EMEAHigh Performer – Mid-MarketHigh Performer – Small BusinessETL Tools Category: 
Easiest AdminEasiest SetupHigh PerformerHigh Performer – Mid-MarketHigh Performer – Small BusinessPanoply’s no-code approach to data management provides greater visibility into business performance by aggregating data from multiple data sources to deliver deeper insights. With Panoply, organizations can automatically store raw data in analysis-ready tables, create core business logic to keep metrics consistent, and explore and visualize their data within the platform’s workbench. Deploying a consolidated storage solution like Panoply also centralizes access to data assets to provide a single source of truth.
If you want to learn more about how Panoply can help you gain fast data insights, visit https://panoply.io and schedule a demo.
About Panoply by SQream
Panoply’s managed data warehouse plus ELT and dashboards make it easy for users to sync, store, access, and visualize their data without complex code. Panoply is a product line of SQream, specializing in data processing and analytics acceleration, revolutionizing the way organizations approach big data analytics and AI/ML workloads with its unique GPU-patented SQL engine. SQream’s solutions are designed to meet the needs of enterprises grappling with massive or complex datasets, offering unparalleled performance, scalability, and cost-efficiency. Tailored for industries ranging from finance to telecommunications, SQream empowers businesses to unlock actionable insights from their data with unprecedented speed and efficiency.
SQream is trusted by leading enterprises including LG Electronics, Samsung Display, Sinch, Orange, AIS, and more. To learn more, visit sqream.com or follow us on Twitter @sqreamtech.
Media Contact:Raz KaplanSenior Marketing Manager at SQream+972 [email protected]
Logo – https://mma.prnewswire.com/media/2068670/4641094/SQream_Logo.jpg
 
 

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Artificial Intelligence

TeachAI Announces Foundational Policy Ideas for AI in Education, a New Resource for Education Leaders and Policymakers

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SEATTLE, April 16, 2024 /PRNewswire/ — Today, TeachAI, an initiative led by Code.org, ETS, the International Society of Technology in Education, Khan Academy, and the World Economic Forum, announced the launch of a groundbreaking resource for education leaders and policymakers around the world – Foundational Policy Ideas for AI in Education. The development of this resource was led by AASA, CCSSO, Code.org, CoSN, COSSBA, Education Commission of the States, ExcelinEd, ETS, InnovateEDU, NASBE, NSBA, NEA, SEAMEO, and SETDA. It is designed to help education leaders and policymakers navigate the evolving landscape of artificial intelligence (AI) in education.

The resource, which has been informed by over 70 organizations representing industry, government, non-profits, and educator associations, offers policy ideas, informational briefs, talking points, and a customizable presentation. These materials propose five key policy ideas essential for the safe, effective, and responsible use of AI in education.
Foster Leadership: Establish an AI in Education Task Force to oversee policy development and implementation.Promote AI Literacy: Integrate AI concepts and skills into existing curriculum and instruction.Provide Guidance: Equip schools with guidance on the safe and responsible use of AI.Build Capacity: Provide funding and programs to support professional development on AI.Support Innovation: Promote the research and development of safe and effective AI in education practices, curricula, and tools.”These tools serve as practical resources, aiding leaders in understanding AI’s implications for education,” says Michele Blatt, State Superintendent of Schools, West Virginia. “It is critical that we ensure appropriate supports and guardrails are in place for our teachers and students to effectively use generative artificial intelligence. We must remember that AI is an additional technology tool that can increase productivity and support innovation while recognizing the importance of the teacher in the process.”
As AI becomes increasingly embedded in society and the workforce, education systems across the globe recognize the opportunity and the challenge posed by these advancements. From enhancing student engagement and addressing learning loss to transforming and redefining the essential skills of the workforce, AI offers possibilities for improving educational and career outcomes. This potential hinges on the responsible and ethical use of AI, taught through a framework that addresses critical concerns such as bias, misinformation, and the preparation of students for a world transformed by AI.
Nicolás Cataldo Astorga, Minister of Education, Chile, notes: “As educational systems, we must act swiftly to address a world where artificial intelligence is rapidly emerging. For public policy, this entails collaborating with communities, particularly educators, to creatively, critically, and safely harness these tools for learning, equity, and inclusion.”
“Artificial Intelligence will soon augment nearly every sector of our workforce, and our education system must prepare our students for that future,” says Chris Reykdal, Washington State Superintendent of Public Instruction. “Our mission is to embrace AI in our classrooms to enhance student learning; centering student inquiry, student reflection, and critical thinking.”
TeachAI invites education leaders and policymakers to explore these foundational policy ideas as a step towards embracing the transformative potential of AI in education while also addressing its challenges with foresight and responsibility.
Catherine Truitt, State Superintendent of Public Instruction, North Carolina, says: “By equipping educators and students with the knowledge and skills of AI, we are ensuring they are better prepared for their future. This valuable resource can help create policies and practices to responsibly incorporate AI into education.”
Visit www.teachai.org/policy to see the Foundational Policy Ideas for AI in Education.
About TeachAI
TeachAI brings together education leaders and technology experts to assist governments and education authorities in teaching with and about AI. The initiative is led by Code.org, ETS, the International Society for Technology in Education, Khan Academy, and the World Economic Forum and advised by a diverse group of 100+ organizations, governments, and individuals. TeachAI’s goals include guiding policy, building community and capacity, and increasing awareness. To learn more about TeachAI, please visit www.teachai.org/about.
 

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Artificial Intelligence

SeeTrue’s AI Automated Threat Detection Solution Expands to Pafos Airport After Successful Implementation at Larnaka Airport

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Hermes Airports Boosts Security and Operational Efficiency with SeeTrue’s Solution
FRANKFURT, Germany, April 16, 2024 /PRNewswire/ — SeeTrue, the leading provider of AI Automated Threat Detection software solutions, announces today that it will now be implemented at Pafos Airport after a successful implementation at Larnaka Airport by Hermes Airports Group. This expansion marks a significant step in enhancing security measures at Pafos Airport and providing a smoother passenger journey with a fast and secure screening process.

Hermes, the operator of both Larnaka and Pafos International Airports, which set a record by serving 11.6 million passengers in 2023, aims to enhance the security screening process and overall passenger experience at each location. To this end, SeeTrue’s solution has been installed across all passenger terminal checkpoints at the airports.
This pioneering move has significantly enhanced the airport’s ability to expedite passenger flow through checkpoints, offering a superior experience characterized by smoother operations and consistent security standards. The implementation of SeeTrue AI technology has resulted in higher passenger throughput and streamlined the security screening process, leading to improved operational efficiency.
The SeeTrue AI solution is running an open architecture platform, making it compatible with multiple scanners across various models and OEMs. This adaptability is crucial for airports, such as Larnaka, which utilize security scanners from multiple vendors.
“We are excited about our partnership with Hermes Airports,” stated Assaf Frenkel, CEO and Co-Founder of SeeTrue. “This expansion is a testament to the effectiveness and reliability of our technology in enhancing airport security measures. We are committed to delivering top-tier solutions to ensure the safety and security of travelers and airport personnel.”
“Hermes Airports has an ongoing commitment to enhancing security and the passenger experience,” said Miltos Miltiadous, Chief Operating Officer at Hermes Airports. “With the SeeTrue AI technology, we have observed higher passenger throughputs and streamlined the security screening process.”
SeeTrue will be exhibiting at the Passenger Terminal Expo in Frankfurt on 16-18 April at Hall 5 Booth A170 to showcase its solutions.
About SeeTrue:
SeeTrue is a global leader in Security Screening Solutions, leveraging its state-of-the-art AI technology for secure, fast, and efficient threat detection. SeeTrue’s AI-based automatic threat detection software is implemented worldwide on top of X-ray and CT systems at airports, seaports, urban security checkpoints, customs, and shipment facilities, making security and travel as fast and secure as possible while improving operational efficiency.
SeeTrue operates in Tel Aviv, London, New York and Amsterdam. For more information, visit the company’s website at www.seetrue.ai
About Hermes Airports:
Hermes Airports Ltd. manages and operates Larnaka and Pafos International Airports, under a 25-year BOT (Build-Operate-Transfer) concession agreement with the Republic of Cyprus. The airports offer world-class, state of the art facilities, with an emphasis on excellent customer service. Hermes is committed to improving Cyprus’ connectivity and enhancing the overall passenger experience.
Contact Details:
Sharon SalzmanDirector of Marketing, [email protected]
Video – https://www.youtube.com/watch?v=nKE947hmJcg

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