The reciprocating power generating engine market is anticipated to witness a substantial rise owing to the paradigm shift towards sustainable energy sources for a better state of living and rise in energy efficiency demands. The major driving factor for the power generating engine market is the consumers’ increasing inclination towards the energy efficient equipment. In terms of revenue, the power generating engine market is projected to outdo USD 120 billion by 2025.
What are the major factors contributing towards the rise in United Kingdom Reciprocating Power Generating Engine market?
The progressive upsurge of United Kingdom reciprocating power generating engine industry trends can be attributed to the accelerating investments of companies and organizations towards cogeneration technology along with the growing construction activities. Additionally, the swelling concentration of data centers is expected to entrail a sturdy deployment of engines for power generation.
Robust expansion of the service sector in tandem with the proposed introduction of the EU stage V norms will augment UK reciprocating power generating market size projected to surpass a cumulative installation of 2.5 GW by the end of 2025.
How will gas-fired engine sales escalate reciprocating power generating engine market share over the forecast period?
The constant development of cogeneration technologies linked with an easy access of gas will boost the natural gas fired reciprocating power generating engine market share. Moreover, the expanding manufacturing industries including pharma, fertilizer and oil, and gas will propel the industry growth. Additionally, reliability, lesser system cost and fast start up are the key features which will drive the industry outlook.
What governmental policies drive the growth of reciprocating power generating engine market?
The ongoing governmental plans to bring electricity to rural areas along with robust industrialization are expected to augment reciprocating power generating engine market size from > 7.5 rated power segment, claims a report by Global Market Insights, Inc. The governing policies toward carbon emission along with changing climatic condition will bolster the market size.
Moreover, the introduction of various norms towards sustainable living along with constant technological development will influence the product penetration. The US EPA for example, has introduced the International Green Construction Code in 2018 that aims toward bettering the health of structures, building and sites.