According to TechSci Research report, “North America Medium Speed Large Generators Market By Application, By Country, Competition Forecast & Opportunities, 2013-2023”, the medium speed large generators market in North America is forecast to reach $ 155 million by 2023. Key factors that are expected to boost demand for medium speed large generators in the region are increasing residential construction investments, rising number of hotels & lodging properties and growing per capita electricity consumption. Some of the major players operating in North America medium speed large generators market include Caterpillar Inc., Rolls Royce Power Systems AG and Wartsila Corporation. Backed by its extensive distribution network and high product quality, Caterpillar Inc. has been dominating the market.
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United States is the largest market for medium speed large generators across the region, owing to increasing investments in oil & gas sector and residential construction projects. Power generation is the major application area for medium speed large generators in the North American market and is expected to remain the primary application area through 2023. Increasing demand for modular power plants and adoption of new technological solutions in medium speed large generators manufacturing are expected to aid growth in North America medium speed large generators market in the coming years.
“Growing investments in oil & gas fields, increasing capacity of nuclear power reactors and rising demand from marine operations are expected to aid the region’s medium speed large generators market in the coming 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 would also positively influence the market during the forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“North America Medium Speed Large Generators Market By Application, By Country, Competition Forecast & Opportunities, 2013-2023” has analyzed the potential of North America 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 the market.