LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global generator market in the healthcare sector provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Gaurav Mohindru, a lead analyst from Technavio, specializing in research on engineering tools sector, says, “Emergency facilities, such as hospitals, communication services, and emergency call centers, require an uninterrupted power supply for efficiently providing their services during critical periods. Several industrial consumers are also increasingly relying on standby generators as their auxiliary power source due to increasing frequency of power outages.”
Cross-border healthcare options, often termed as medical tourism, are gradually gaining popularity and growing at an average rate of 10%-15% since the last five years. APAC offers more cost savings that may range from 50%-80% when compared with developed nations. For instance, India has an average cost saving rate of 75% when compared with the US. This increased trend for healthcare options is expected to provide an impetus to the healthcare sector, particularly in APAC, which would have a direct demand on the market for back-up power generators.
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The top four emerging trends driving the global generator market in the healthcare sector according to Technavio heavy industry research analysts are:
- Smart generators
- Bi-fuel portable generators
- Diesel to remain the leading fuel type in generators
- Combined heat and power (CHP): Advocating its application in healthcare
Smart generators
Modern generators are undergoing a series of technological advances that make them a lot more unique than the conventional diesel generators in use till now. From advanced monitoring equipment to hi-tech control systems, vendors are incorporating all these features in their generators to differentiate them from their previous products.
Digital technology is widely being used in generators to perform as a backup power source for large-scale jobs. However, analog controls still find application in small generators. The transition from analog to digital control technology has provided end-users with a better and reliable monitoring of fuel and coolant levels. Apart from this, the digital control systems allow the monitoring of battery life, engine oil, and temperature. The rise of digital control system into prominence was mainly to avoid excessive manual intervention to adjust and resolve engine malfunctions.
Bi-fuel portable generators
Generator manufacturers have been focusing on various technological developments in generators that have helped them develop bi-fuel portable generators. Bi-fuel technology is, however, not restricted to portable generators only. Nevertheless, this technology, when incorporated into the portable units, provides significant fuel savings and environmental benefits. DuroMax and Champion design and manufacture bi-fuel portable generators.
“Diesel generators that use bi-fuel technology can operate on about 70% natural gas, which includes scrubbed and cleaned well-head gas. The system controller manages the fuel mixture that helps the equipment perform optimally under load. The use of gas is gradually becoming imperative as petroleum producers need to reduce and eliminate flaring,” adds Gaurav.
Diesel to remain the leading fuel type in generators
Diesel as a fuel type dominates the overall generator market. For several decades, the generators, especially those used in the industrial sector, have been resorting to diesel as the most preferred fuel type, due to its lower cost and easy availability. However, there is a growing trend toward the use of natural gas and other alternative environment-friendly, non-diesel fuel sources. Despite this fact, diesel will continue to lead the fuel type segment for many years to come. Diesel generators will account for about 65%-70% of the market by the end of 2020.
Although the diesel generators market is expected to lose a certain share of the market to other trending fuel types like natural gas and alternative fuels, it is likely to see a moderate growth rate during the forecast period. Despite challenges faced in the form of stringent emission regulations being implemented by the US EPA, which requires a reduction in sulfur content of diesel fuel by 97%, there exists a huge demand for diesel generators.
Combined heat and power (CHP): Advocating its application in healthcare
CHP improves the overall critical infrastructure that includes systems, assets, and networks, which negatively impact the overall operation and safety of the people in any healthcare unit if in case these assets become non-functional. In this way, CHP helps in mitigating the impacts of an emergency situation as it enables proper functioning of critical facilities without any interruptions. The uninterrupted supply of power is ensured by a specially configured CHP system when the electric grid becomes impaired.
The key vendors are as follows:
- Caterpillar
- Cummins
- Generac
- Kohler
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