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The Coronavirus Outbreak is the Biggest Threat to the Latin American Economy in 2020
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Economic growth in Latin America was expected to pick up in 2020; However, the novel coronavirus has forced companies to review their projections. The impact of the pandemic notwithstanding, the region continues to see strong private and public sector investment in infrastructure, construction, and commercial segments that secure a slow but steady market recovery during the forecast period. In this report, Frost & Sullivan reviews the increased need for generator sets in light of the current business environment, and reviews the drivers and restraints that affect the growth of the Latin American market. Factors including increased power demand, coupled with an unreliable grid infrastructure is likely to drive the demand for generator sets during the next six years.Frost & Sullivan aims to:• Understand the power-related challenges organizations face today• Monitor the status of the coronavirus outbreak in the region and its market impact• Assess the current and future use of business generator set technology• Evaluate factors that drive investments in back-up power• Measure end users’ perception and market penetration• Discover opportunities in different segments and business sizesOne of the largest pain points in the power industry is the continued need to serve customers with customized solutions and intelligent sales and services. Increasing awareness about the generator sets’ benefits is essential to improve market penetration as well as brand loyalty. The latter is crucial for the continued success in this increasingly competitive environment.
The current market size for 2019 is provided for each segment and forecasted till 2025. Forecasts by competitive revenues and unit shipments for natural gas generators and diesel generators are also provided.
Revenue and units are tracked and forecasted by the following power ranges:
End-user segments including commercial generators, industrial generators, and residential generators are monitored; additionally, revenue is predicted by application including peak shaving, prime power, and stand-by.
Key Issues Addressed
Author: Lucrecia Gomez
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