Black Start Generator Market : Market Leaders
The global black start generator market is estimated to grow at a CAGR of 3.8% from 2016 to 2021. Growth of the black start generator market is attributed to the growth of power generation and manufacturing industry, healthcare, transportation, and telecom & IT sector in regions such as Asia-Pacific, North America, and Europe. High growth of power generation in the Asia-Pacific is predicted to make it a leading region in the black start generator market by 2021.
The black start generator market is fragmented and involves regional as well as international players. Few of the market leaders include GE (U.S.), MTU Onsite Energy (Germany), Cummins Inc. (U.S.), Mitsubishi Heavy Industries Ltd. (Japan), and Caterpillar (U.S.), among others. Other companies include Gensel Energy (Spain), Wartsila Corporation (Finland), Broadcrown (U.K.), Zest WEG Group (South Africa), and Kirloskar Group (India).
Contracts and agreements was the most common strategy seen in the recent developments which was followed by market players to increase their revenue and market share. Installation of a black start generator is always done in the form of an engineering, procurement, and construction contract. Hence, market players were highly competitive to win contracts. Market players also followed the strategy of expansion, and new product launches which will further help them to win more contracts.
Mitsubishi Heavy Industries (Japan) led the market with most number of contracts and agreements signed during 2012 – 2016. The company has a developed distribution network and has made tie-ups with several third party generator providers in countries other than Japan to expand its market and win new contracts. Mitsubishi Heavy Industries recently won a contract to supply 13 diesel generators to Yangon City Electricity Board (Myanmar) to assist in dealing with power outages. Mitsubishi Heavy Industries has decades of experience in the power generation sector which has aided the company is building a good brand name in the global market.
Caterpillar Inc. (U.S.) is a leading company in terms of product portfolio. The company provides generators in every possible power rating and also offers customized solutions. It is known worldwide for its high power capacity diesel and gas generators. Caterpillar has also expanded its market in Europe, the Asia-Pacific, and South America by acquiring small regional distributors. Caterpillar recently acquired Johan Walter Berg AB (Sweden), increasing its geographic reach in Europe.
Related Reports:
Black Start Generator Market by Type (Diesel and Others), by Power Ratings (Below 1,000 kW, 1,000 kW-2,000 kW, 2,000 kW-3,000 kW, and Above 3,000 kW), by Industry (Power, Manufacturing, Oil & Gas, and Others) and by Region - Trends & Forecasts to 2021
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