Smart Bed Market Size Worth $3.1 Billion By 2027

The global smart bed market size is anticipated to reach USD 3.1 billion by 2027, expanding at a CAGR of 4.5%, according to a new report by Grand View Research, Inc. Rising prominence for gaining a healthy sleep through the infusion of sensor-based advanced technology is the growing demand for smart beds. In addition, rising penetration of smart homes across regions is also paving way for technologically integrated household products, thereby paving the way for increased growth of the market.

The rapid development of smart home technology and their penetration across developed nations of America and Europe is positively impacting the demand for the product. According to the European Commission in 2017, Europe’s smart home revenue is expected to reach USD 19.0 billion by 2021, through its massive markets in the U.K. and Germany. Additionally, useful features compiled in the product such as customized mattress firmness that can sense and react to body temperature, tracking breathing, heart rates, and restfulness is gaining consumer’s attention.

Increasing instances of sleeping disorders among individuals particularly in the U.S. is deriving higher traction in the industry. According to American Sleep Association (ASA), insomnia is the most common sleep disorder, with short term issues reported by about 30.0% of adults and chronic insomnia by 10.0% in the country as of December 2019. In addition, 37.0% of those among 20-39-year-olds, and 40.0% of those among 40-59-year-olds expressed short sleep duration. While 35.3% of adults reported less than 7 hours of sleep during a typical day. These instances have raised the need for healthy and quality duration of sleep among consumers, thereby driving product demand in various application segments including households, hospitals, and hospitality.

In terms of application, the residential segment held a dominant position in the market in 2019. Lifestyle inflation among low, middle as well as high-income individuals are paving the way for increased spending among consumers towards relaxation and comfort, thereby scaling the demand for smart beds. Also, new innovations led by manufacturers in the industry with new product launches are likely to ramp up the sales for the product. For instance, in February 2019, Eight Sleep introduced a new biometric-monitoring smart bed.

The specialty stores segment accounted for a dominating revenue-based share of 66.5% in 2019. These stores provide training to their employees to assist customers and few of them also offer price-matching guarantees. In addition, major retail chains are focusing on establishing new stores with innovative layout, which is projected to support the growth of this segment in the coming years.

North America dominated the market with a revenue share of 60.2% in 2019. Increasing penetration of home automation in the region is also boosting the demand for smart furniture such as smart beds. According to the European Commission in 2017, smart home revenue in the U.S. is expected to grow over three-fold between 2016 and 2021, exceeding USD 32.0 billion. Additionally, various sleep-related disorders prevalent in the U.S. is triggering higher demand for quality sleep patterns among individuals. According to the American Sleep Association, 50-70 million adults in the U.S. have a sleep disorder. Also, around 25.0 million adults in the U.S. have obstructive sleep apnea.

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Further key findings from the study suggest:

The hospital application segment is expected to reach USD 628.4 million by 2027 and is anticipated to witness a CAGR of 5.2% from 2020 to 2027
The specialty stores segment was valued at USD 1.4 billion in 2019 and is expected to reach USD 2.1 billion by 2027
In Asia Pacific, the market is expected to witness substantial growth over the forecast period with a revenue-based CAGR of 5.6% from 2020 to 2027.

Small Hydropower Market Worth $3.49 Billion By 2027

The global small hydropower market size is expected to reach USD 3.49 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 2.0% from 2020 to 2027. Cost advantages for installing small hydropower based power generation and the replacement of fossil fuel-based electricity production in an effort to reduce carbon emission into the atmosphere are expected to drive the market.

A supportive regulatory framework for supportable energy in the European Union and the United States is also likely to have a positive influence on market growth. Execution of favorable government regulations such as the Small Conduit Hydropower Development and Rural Jobs Act and Hydropower Regulatory Efficiency Act in the United States and an increasing number of funding programs related to the renewable energy sector in various developed countries, such as Canada and Italy, are some of the factors projected to present future growth prospects.

Increasing investments in small hydropower projects to surge the rural electrification in emerging countries are likely to drive the market. Besides, the assistance in the form of fewer interest loans and allowances, renewable purchase obligations, feed-in tariffs, and financial incentives would further assist the growth of this market. An unstable source as the energy generation that depends upon seasonal lows and highs can curb the growth of the market.

China, India, and Australia are the fastest growing countries contributing mainly to the Asia Pacific market growth. The small hydropower market in Australia is set to expand at a CAGR of 1.9% from 2020 to 2027. The Asia Pacific market is projected to rise during the estimated period owing to the investments in off-grid energy generation and rural electrification. Moreover, the availability of probable sites, along with the presence of a skilled workforce, is expected to favor countries, such as India and China, in market growth.

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Further key findings from the report suggest:

By type, the mini-hydropower segment is expected to witness the fastest growth over the forecast period
Asia Pacific is projected to grow at a substantial rate throughout the forecast period. China is expected to account for the maximum share in the Asia Pacific region in the forecast period
Based on application, the civil construction segment accounted for 32.0% share of total volume in 2019
Brazil dominated the Central & South America market and is set to reach USD 103.59 million by 2027. Growth in the industrial sector accompanied by a huge hydro potential location owing to the Amazon River will fuel market growth.

Secondary Water & Wastewater Treatment Equipment Market Worth $30.05 Billion By 2027

The global secondary water and wastewater treatment equipment market size is expected to reach USD 30.05 billion by 2027, expanding at a CAGR of 3.9%, according to a new report by Grand View Research, Inc. Rising demand for wastewater treatment plants owing to stringent regulations is expected to drive the market growth over the forecast period.

Growing concerns over environmental degradation and water pollution coupled with stringent regulations pertaining to wastewater discharges are likely to benefit market growth. In addition, increasing efforts to improve the wastewater treatment coverage, especially in the developing countries is anticipated to further propel the market expansion.

A growing requirement for upgrading the existing aging infrastructure, most notably in the developed economies, is expected to open new avenues for the market growth over the forecast period. Furthermore, the emergence of new pollutants is likely to drive the demand for more advanced and efficient treatment solutions, thereby benefitting the overall market growth.

Rising water scarcity, coupled with growing focus conserving and extending the availability of existing water supplies, is expected to drive the demand for wastewater reuse as a viable option for integrated water management. This, in turn, is anticipated to have a positive impact on the overall demand for secondary water and wastewater treatment equipment in the forthcoming years.

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Further key findings from the report suggest:

The sludge treatment technology segment accounted for 35.4% revenue share in 2019, on account of increasing demand for efficient, and better management and disposal of sludge generated from wastewater treatment plants
The equipment demand in the municipal application segment is anticipated to witness expand at a CAGR of 3.6% from 2020 to 2027 owing to the growing population, rapid urbanization, and improving municipal wastewater treatment infrastructure in developing countries
The equipment demand in Europe accounted for a revenue share of 26.8% in 2019, on account of developed wastewater treatment infrastructure coupled with a growing focus on rehabilitation, and upgrading the existing wastewater treatment facilities
The demand in China is expected to expand at a CAGR of 5.7% owing to increasing efforts towards combating the high levels of environmental pollution in the country
In January 2020, Xylem, Inc. launched a multi-disciplinary center for water, wastewater, and energy technologies in Singapore that will focus on developing technologies in the field of water distribution, and water, and wastewater treatment

Atmospheric Water Generator Market Worth $8.9 Billion By 2027

The global atmospheric water generator market size is expected to reach USD 8.9 billion by 2027, expanding at a CAGR of 19.5%, according to a new report by Grand View Research, Inc. Increasing consumer demand for atmospheric water generator (AWG) in industrial and commercial applications is expected to drive the market.

Moreover, depleting freshwater reserves, particularly in Asia Pacific and Latin America region is anticipated to further propel market growth. Furthermore, various characteristics offered by AWGs such as high purity water output, and easy transport are expected to drive their demand in military applications over the forecast period.

Growing demand for AWGs to replace traditional supply units such as water pipelines, especially at industrial and commercial workplaces, is likely to open new avenues for the industry over the forecast period. However, high capital cost and energy consumption associated with the product are expected to hinder market growth.

The water output offered by AWGs primarily depends on the humidity and temperature of the surrounding environment, which affects the performance efficiency of the system. Product innovations to reduce the cost and improve its efficiency are expected to propel the AWG market over the forecast period.

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Further key findings from the study suggest:

Cooling condensation accounted for 98.9% revenue share in 2019 on account of its high output coupled with less complex mechanism when compared to wet desiccation technique
The residential application segment, in terms of revenue, is expected to witness a CAGR of 16.7% from 2020 to 2027 owing to rising disposable incomes coupled with product innovations is expected to drive the demand for AWGs in the segment
The product demand in Latin America, in terms of volume, is likely to witness a CAGR of 17.7% owing to depleting freshwater resources coupled with uneven geographical distribution of freshwater resources, and inadequate water supply infrastructure
The product demand in India is anticipated to reach USD 302.9 million by 2027 owing to the rapid industrial growth coupled with increasing construction and manufacturing activities in the country
In January 2020, Energy and Water Development Corp., (EAWD) sold its self-sufficient energy supply AWG system to a Mexican company engaged in manufacturing bottled water.

Soy Dessert Market Size Worth $90.2 Billion By 2025

The global soy dessert market size is expected to reach USD 90.2 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.2% over the forecast period. Growing awareness about the health benefits, rising lactose intolerance, and shifting trends to healthy sweets are expected to drive the market in the forecast period.

Soy milk contains less fats, carbohydrates, and cholesterol as compared to dairy milk, thus rising health consciousness among young consumers is expected to increase the demand for the product in the coming years. The product is high in protein and it helps in weight loss thus are good for obese population. These are the prominent factors that are expected to drive the market for the product in the forecast period.

Based on distribution channel, hypermarket dominated the market and accounted for more than 65.0% share of the global revenue in 2018. Availability of a wide variety of the products under one roof, discounts, and presence of international players are the prominent factors for the segment growth. Online retailers is the fastest growing segment and is expected to witness significant growth in the forecast period. Increasing internet usage and penetration in the rural areas and ease of access to the young consumer group are propelling the demand for the segment in the forecast period.

Cakes and pastries dominated the market and accounted for more than 65% share of the overall revenue. Increased usage of the product in countries such as U.S and other European countries and high intolerance of lactose are driving the market for the product. Ice cream is the fastest growing segment and is expanding at a CAGR of 8.0% in the forecast period. Presence of a large number of flavors and pocket-friendly small packs are the prominent factors for the segment growth. In countries such as Brazil, consumption of ice cream is higher in comparison to cake.

North America is the dominant regional market and the region accounted for 28.0% share of the overall revenue. High lactose intolerance among consumers in countries such as Canada and U.S is the prominent factor driving the regional market. Asia Pacific is the fastest growing region and is expanding at a CAGR of 8.3% in the forecast period. Increasing awareness about health problems due to lactose in developing countries such as India and China and large consumer base of more than 34.0% of the global population are the prominent factors for the regional market growth.

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https://www.grandviewresearch.com/industry-analysis/soy-dessert-market

Further key findings from the study suggest:

By product, ice cream is projected to expand at a CAGR of 8.0% over the forecast years
Hypermarket is the most preferred distribution channel and it accounted for more than 65.0% share of the overall revenue in 2018
Asia Pacific is the fastest growing regional soy dessert market with a CAGR of 8.3% due to its large variety of products, advertisement, and discounts

Snack Bars Market Size Worth $31.60 Billion By 2025

The global snack bars market size is projected to reach USD 31.60billion by 2025 expanding at a CAGR of 6.64% from 2019 to 2025, according to a new report by Grand View Research, Inc. Changing consumer lifestyles and food patterns are expected to drive the demand for convenient food products, such as snacks bar. The richness of fiber and iron in granola/muesli bars has made it the dominant product segment of the global market. Whereas, increasing awareness about the health benefits offered by energy and nutrition bars lists it as the fastest-growing product segment.

Supermarkets/hypermarkets hold the dominant market share as these stores have a variety of products at discounted prices. However, the online distribution channel is projected to emerge as the fastest-growing segment over the forecast period. Developed countries, such as U.S, Japan, and China, have well-established markets for healthy bars. On the other hand, emerging countries like India can offer new growth opportunities for the global market. Increasing population and awareness regarding health and fitness programs is also likely to boost the market.

Business expansions and product launches are the major strategies adopted by key companies in this market. For instance, a Russian company called Bio Food Lab will expand its business in emerging countries of APAC. Kellogg’s launched special K-bars. Availability of substitutes of these nutritious foods in the market may have a negative impact on the market growth. North America is the dominant regional market followed by Europe.

Asia Pacific is said to be the fastest-growing region due to rising popularity of sports as career option and increasing disposable income and number of nuclear families in the region. Companies such as Quaker Oats, Kellogg’s, Nature Valley have a prominent share in the market Manufactures are focusing upon improving a variety of snack bars. The merger of KIND Bars with Mars; a prominent player in the market, has increased its presence of these products to drive the product variety in the market.

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https://www.grandviewresearch.com/industry-analysis/snack-bars-market

Further key findings from the study suggest:

North America led the global snack bars market in 2018. The region is said to maintain its dominance over the forecast years due to the strong presence of prominent companies
Asia Pacific it is expected to witness the fastest market growth from 2019 to 2025 due to increasing health consciousness and product awareness in emerging economies like India
The industry is highly competitive. Key companies including Nature Valley, Kellogg’s, Alpen And Jordan, Quaker Oats, Kind Bars, Cliff Bars, Earnest Eats, Mars, Oriole Healthy Foods, And the Hain Celestial Group

After Sun Care Products Market Size Worth $2.81 Billion By 2025

The global after sun care products market size is estimated to reach USD 2.81 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 3.1% during the forecast period. Rising product penetration in personal and skincare applications globally is likely to act as a key growth stimulant over the forecast period.

Growing awareness regarding the importance of sun care products and post UV exposure products for complete skin repair is one of the key factors influencing the demand for after-sun products across the globe.

Lotion dominated the product market, mainly on account of multiple benefits offered and versatility of the product. Lotions are available for all skin types, climatic conditions, consumer preferences, and most importantly, at reasonable prices. Gel-based products and sprays are gaining popularity among seasonal users on account of ease of handling, application and reapplication, and better absorption by the skin.

The global after sun care products industry is anticipated to witness the highest revenue growth in the Asia Pacific, at a CAGR of 4.3% over the forecast years. Major industry players, including L’Oréal SAS, Beiersdorf AG, Clarins Group, Lancaster Group, and Unilver Plc, are engaged in the manufacture, marketing, packaging, and distribution of after sun care products, globally.

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https://www.grandviewresearch.com/industry-analysis/after-sun-care-products-market

Further key findings from the report suggest:

The after sun care products market recorded a valuation of USD 2.23 million in 2017 and is projected to rise at a CAGR of 3.1% over the forecast period. Growing product popularity among the youth population across the globe is poised to benefit the overall growth
After sun cream market was valued at USD 516.9 million in 2017 and is expected to witness steady growth over the forecast period, on account of burgeoning demand for light oil-based skin repair cream for face & body for deep nourishment and healing of sunburnt skin
The after sun gel segment is estimated to post a CAGR of 3.3% from 2018 to 2025. Widespread use of aloe-vera based gel formulation for instant relief from skin irritation and skin-soothing & hydration are key factors driving product demand
Europe dominated the global market for after sun care products in terms of revenue. The region was valued at USD 666.6 million in 2017 and is projected to witness significant growth in the near future on account of the rising incidence of skin cancer and other skin disorders in the U.K., France, Belgium, and the Netherlands, among others.
Some of the key strategies adopted by industry participants are mergers & acquisitions and integration across the value chain in order to strengthen their product portfolios and global distribution networks.

Hydrolyzed Wheat Protein Market Size Worth $233.08 Million By 2025

The global hydrolyzed wheat protein market size is expected to reach USD 233.08 million by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 4.5% during the forecast period. Increased use of plant-based products due to changing food habits and rising geriatric population across the globe are some of the key factors driving the market.

Hydrolyzed wheat proteins are plant-based, non-genetically modified products obtained through a process of hydrolysis of wheat germ to extract nutrients, especially proteins and peptides. Wheat is the main ingredient of the final product and is free from unnecessary side-effects; it is hence used by various food and beverage manufacturers. Companies such as Cargill Inc. and Agridient are spending a large portion of their capital on R&D to develop numerous organic food and beverage formulations, especially targeting the growing vegan population around the world. For instance, Cargill Inc. developed a vegetable-protein formulation that could be used in a variety of beverages. The company also launched a soft drink formulation that contains soluble hydrolyzed wheat proteins, thereby witnessing escalating demand from end-consumers looking for newer protein-rich consumables.

Increasing adoption of organic ingredients in personal care products has marked a growing need amongst manufacturers, thereby contributing to the growth of the personal care segment. This segment is expected to register a CAGR of 4.5% over the forecast period. Hydrolyzed wheat proteins are often used as a main ingredient in a number of skincare and hair-care products. The product has properties of hydrating and retaining moisture and also repairs damaged hair follicles, thus nourishing and softening the hair. A key trend that has imparted robust momentum to the market for hydrolyzed wheat protein is the natural and non-toxic claims made by a growing number of personal care product manufacturers like Body Shop, Logona, and Cush, especially in the APAC market.

Easy availability of raw material and supportive government policies are a few other factors driving the market. Surging requirement of plant-based ingredients in food processing has led governments to become proactive in terms of agricultural development. For instance, the Food Safety & Standard Authority of India (FSSAI) introduced new standards in eight categories under food additives, mostly involving wheat proteins. Now with the approval of FSSAI, manufacturers are permitted to use wheat production of food and beverages.

Online channel is the fastest growing segment under distribution channels, exhibiting a CAGR of 5.1% over the forecast period. Increasing mobile penetration, ease of access, 24/7 availability, and multiple options available are some of the factors driving online sales. Moreover, regular availability of discounts and offers on multiple products is a crucial factor fueling online sales over the forecast period.

Asia Pacific accounts for major demand in the personal care industry and is likely to register a CAGR of 4.9% over the forecast period, making it the fastest growing segment in the overall market. Apart from Asian countries, European countries are also known for their beauty trends and innovations, featuring sophisticated ingredients in their personal care regime. For instance, Korres, a Greek brand, manufactures an entire haircare range using organic ingredients like olive oil, where hydrolyzed wheat protein is a main ingredient to repair dull and damaged hair.

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https://www.grandviewresearch.com/industry-analysis/hydrolyzed-wheat-protein-market

Further key findings from the study suggest:

In terms of regional revenue, North America is projected to value USD 68.3 million by 2025
Offline channels include hypermarkets and supermarkets, drug stores, and direct-to-customer services. All these constituted about 53.8% of the total market in 2018. The segment, however, is projected to exhibit a slight decline in the coming years due to increased number of mobile phone users across the global
Asia Pacific is a key contender in the global hydrolyzed wheat protein market and is anticipated to be the fastest growing regional segment with a CAGR of 4.9%. This trend is projected to continue over the next few years due to rise in geriatric population and increased disposable income of people in this region
With increased vegan population in countries like Italy and Germany, a positive trend is seen in terms of purchase of wheat protein products in these regions
The industry is highly competitive in nature, the key players being Archer Daniels Midland; Agridient; Cargill Inc.; Manildra Group; and Roquette.

Gas Turbine Services Market Worth $55.1 Billion By 2027

The global gas turbine services market size is expected to reach USD 55.1 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 9.8% over the forecast period. Increasing adoption of gas turbines on account of their ability to produce low exhaust gas pollution is expected to drive market growth. These systems are increasingly being used owing to its tremendous energy producing capacity and multiple fuel capability. They also have the capacity to operate continuously at base load for numerous hours. Furthermore, low operational cost and high efficiency and durability offered by these systems is expected to drive gas turbine service market growth.

Rapid industrialization and population growth have resulted in a high demand for power globally. The energy sector is shifting from conventional systems toward clean power sources resulting in an increase in gas turbines installations. Furthermore, key countries plan to enhance the deployment of gas-based power plants in the future. Major equipment manufacturers are also signing multiyear contracts during the installation of these plants.

The heavy duty segment dominated the global market in 2019 as these equipment offer cost-effective conversion of fuel to electricity and advanced systems provide improvement in terms of output and efficiency. Rise in new gas-based power plants for power generation has resulted in an increase in deployment of heavy-duty systems which are preferred due to their higher power generating capacity as compared to its counterparts. These systems also find application in chemical plants, refineries, and power utilities.

Maintenance and repair is projected to be the fastest-growing segment over the forecast period. Major vendors in the market are providing long-term service contracts to power plant owners which cover periodic and preventive maintenance under its scope. Long-term contracts are also considered as a more economical solution in the long term. Repairs solutions help eliminate steps and cost and increases the overall performance, thereby increasing the life-cycle of these systems. This is projected to drive the maintenance and repair segment in the coming years.

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https://www.grandviewresearch.com/industry-analysis/gas-turbine-services-market

Further key findings from the report suggest:

Asia Pacific held the largest gas turbine services market share in 2019 and is projected to register a CAGR of 13.5% from 2020 to 2027 on account of increasing demand for power from China, India, and Southeast Asian countries who are opting for cleaner sources of power generation for baseload supply
The heavy duty segment held a major market share in 2019 due to its application in the power generation sector
Spare parts supply was the largest service type segment in 2019 as the components of gas turbines have a limited lifespan after which it requires replacement
>200 MW emerged as the major contributing segment on the basis of capacity in 2019. The demand in this segment is primarily driven by an increase in power generation activities across the globe
Some of the significant industry participants are Siemens AG, General Electric, Mitsubishi Hitachi Power Systems, Ltd., and Kawasaki Heavy Industries, Ltd. These companies focus on R&D in order to enhance their position in the market.

Natural Gas Generator Market Size Worth $10.87 Billion By 2025

The global natural gas generator market size is projected to reach USD 10.87 Billion by 2025, registering a CAGR of 10.7% over the forecast period, according to a new report by Grand View Research, Inc. growing demand for back-up power coupled with increasing government regulation to reduce the carbon emission caused by diesel generator is likely to strengthen the growth for the natural gas genset market during the forecast period.

The global electricity demand is anticipated to witness an increase of nearly two-thirds the current demand over the forecast period. The current availability of natural gas in large quantities and its relatively lower prices, especially in regions such as North America and Europe, have led to an increase in power generation using natural gas.

Increasing focus on electricity generation through cleaner sources and environmental concerns arising from diesel generators are the factors anticipated to increase the share of natural gas generator set in the coming years.

Conventional generators such as diesel generator emit harmful gases including nitrogen oxide, hydrocarbons, and carbon monoxide due to the combustion of diesel. Due to this, different regulatory bodies have imposed stringent regulations that pose a barrier to the usage of diesel generators. This, in turn, has resulted in the growth of eco-friendly alternatives of diesel generators such as natural gas generator.

Emerging economies in Asia Pacific region such as India, China, Japan and others have witnessed a strong growth in commercial sectors. IT, telecom and retail sector, resulting in the growth of demand for natural generators over diesel generator for back-up power application owing to the increasing stringent government regulation to curb greenhouse gas emission caused by diesel generator.

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https://www.grandviewresearch.com/industry-analysis/natural-gas-generator-market

Further key findings from the report suggest:

Low power generator accounted for the largest market share in power rating segment with USD 2,321.7 million in 2018. Low power generator are very popular for residential and commercial power backup operation. Due to growing urbanization, national grids are getting pressurized which is resulting in the increased demand supply gap for power which is eventually driving the demand for natural gas generator market.
Medium power generator in power rating segment is projected to grow at highest CAGR during the forecast period. Increasing demand from emerging economies such as China, India and Brazil for back -up power system which uses clean fuel, for commercial and industrial application are a major driver for medium power generators.
For application segment, commercial segment accounted for the largest market share in 2018 and is projected to grow at highest CAGR during the forecast period Developing economies in Asia Pacific have witnessed strong growth in commercial sectors. IT, telecom, and retail are some of the major sectors that are growing rapidly in developing countries of Asia Pacific, resulting in a high demand for natural gas generators as natural gas generator are crucial for back-up power in these facilities.
North America accounted for the largest market share in 2018. The abundance of natural gas in the U.S. coupled with developed infrastructure for transportation of natural gas within the country has played a vital role in driving the demand for gas generator sets in the U.S.
Asia Pacific market is forecasted to witness highest growth during the forecast period and is projected to be valued at USD 2.84 billion by 2025. High growth of industrial sector in China, India, Japan, and South Korea has triggered the demand for industrial generator sets in the region.
The establishment of heavy equipment, oil & gas, and process companies in China owing to low labor and utility costs has been one of the factors responsible for the growing penetration of gas generator set in the region.
Some of the significant industry participants include Cummins Inc., Caterpillar Inc., Kohler co. Inc., Mitsubishi Heavy Industries, Ltd., MTU Onsite Energy, Generac Power Systems, Inc., Cooper Corp., General Electric, Yanmar Co., Ltd, Mahindra Powerol, and others. These players have adopted various organic and inorganic growth strategies to expand there product portfolio and geographical footprint.