China Heavy Fuel Oil (HFO) Generators Occupied 31.25% Production Market Share In 2018
Heavy Fuel Oil is also known as residual fuel oil, which is a by-product in the refining process of crude oil. Heavy Fuel Oil contains residuals of distillation and subsequent cracking of crude oil, which make it available at lower costs.
In the coming years there is an increasing volume demand for Heavy Fuel Oil (HFO) Generators in the regions of North America and Europe that is expected to drive the market for more advanced Heavy Fuel Oil (HFO) Generators
. Increasing demand of downstream industry, more-intense competition, launches in introducing new products, retrofitting and renovation of old technology, increasing adoption of Heavy Fuel Oil (HFO) Generators will drive growth in Asia markets.
Globally, the Heavy Fuel Oil (HFO) Generators industry market is low concentrated as the manufacturing technology of Heavy Fuel Oil (HFO) Generators is relatively matures than some high-tech equipment. And some enterprises, like Caterpillar, Hyundai, MAN etc. are well-known for the wonderful performance of their Heavy Fuel Oil (HFO) Generators and related services. At the same time, China, occupied 31.25% production market share in 2018, is remarkable in the global Heavy Fuel Oil (HFO) Generators industry because of their market share and low manufacturing cost of Heavy Fuel Oil (HFO) Generators.
The consumption volume of Heavy Fuel Oil (HFO) Generators is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of Heavy Fuel Oil (HFO) Generators industry may not keep that fast. But it is surely forecasted that the market of Heavy Fuel Oil (HFO) Generators is still promising.
The product average price declined in the past few years due to the technology development, the average price will keep the trend in the few future years due to increasing mature manufacturing technology and lowing cost of raw materials.
The impact on the cost and availability of raw materials and certain components is uncertain due to potential supply changes. The costs of raw materials have a significant impact on the level of expenses. If the prices of raw materials and related factors such as energy prices increase, and if new companies cannot pass those price increases on to customers, their results of operations and financial condition would suffer.
With emerging economies growing faster, a strategy has been adopted by most leading vendors in the Heavy Fuel Oil (HFO) Generators market to approach these areas. GIR analysis of the Heavy Fuel Oil (HFO) Generators market indicated that China would account for the highest sales in 2025 with close to 32 percent of global sales coming from this region. Vendors recognize the importance of this region, particularly in China, and are working towards penetrating this market by strengthening their sales and distribution networks.