Europe Medium Speed Large Generators Market, Led by Wartsila, to Witness 9% CAGR through 2023
Growing demand for power generation, rising industrialization and increasing construction activities to drive Europe medium speed large generators market through 2023
According to TechSci Research report, “Europe Medium Speed Large Generators Market By Application, By Country, Competition Forecast & Opportunities,
2013-2023”, the medium speed large generators market in Europe is forecast
to grow at a CAGR of 9% during 2018-2023, owing to increasing peak power demand
as well as the region’s per capita electricity consumption. Wartsila
Corporation accounted for the largest market share in 2017 and is anticipated
to dominate the market through 2023, backed by its extensive distribution
network and product quality. Few of the other major medium speed large
generator manufacturing companies operating in European market are Rolls Royce
Power Systems AG, Caterpillar Inc., Aggreko PLC, Vpower Group, etc.
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market data Tables and Figures spread through 69 Pages and an
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Speed Large Generators Market"
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Increasing demand for modular power plants and favorable
policy environment for selling MSLG-integrated power plants is anticipated to continue
boosting sales of medium speed large generators in Europe through 2023. Growing
investments in residential construction activities is likely to further aid the
market in the coming years. Power generation is the major application area for
the medium speed large generators in the European market and is expected to remain
the primary application area during forecast period. Germany is the largest
market for medium speed large generators in Europe, backed by growing
industrial and commercial activities in the country.
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“Growing
demand for power plants, increasing number of construction activities and adoption
of new technological solutions in medium
speed large generators manufacturing is anticipated to fuel Europe medium
speed large generators market over the next five years. Additionally, use of
IoT through a Supervisory Control and Data Acquisition (SCADA) system for the
complete control of a medium speed large generator (MSLG) installed in remote
locations i is also expected to positively influence the market through 2023.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Europe
Medium Speed Large Generators Market By Application, By Country, Competition
Forecast & Opportunities, 2013-2023” has analyzed
the potential of medium speed large generators market, and provides information
and statistics on market structure, size, share and trends. The report is
intended 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 present in Europe medium speed large generators market.
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