Generator Sales Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Generator Sales Market grew at a CAGR of 4.7% between 2017-2021 and is estimated to be US$ 23,546.1Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.3% and is expected to reach a valuation of US$ 39,464.1Mn by 2032 end.
The tremendous progress of industrialization has increased the need for power. Generators or gensets are now essential equipment in homes, businesses, and industries due to the demand for uninterrupted power and the peak and continuous power requirements. Gensets transform mechanical energy into the best possible electrical power for various applications. To successfully generate and manage current, a Genset unit has several parts, including an engine, fuel system, alternator, main assembly, cooling & exhaust system, and others.
ChemView Consulting has analyzed that the manufacturing industry has been crucial to expanding the economy of various Asia Pacific nations. The demand for goods and services is rising due to growing urbanization, fueling the manufacturing industry’s expansion. Additionally, to establish themselves as hubs for global manufacturing, the governments of some Asian nations have inked extra-regional trade agreements. The Regional Comprehensive Economic Partnership (RCEP), if executed properly, would be a step toward a larger Free Trade Area in the Asia Pacific, according to the ASEAN Economic Community (AEC) (FTAAP).
Diesel, gas, and other fuel types segment the generator sales market in the report. Due to its extensive use in the manufacturing, healthcare, oil & gas, maritime, and IT/telecom industries, as well as other sectors, the diesel segment is anticipated to hold the biggest market share. Diesel generators are more user-friendly than gas gensets since they are simple to install and run.
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Segments Covered in Report
By Power Rating:
- Up To 50 KW
- Up To 10 KW
- 11–20 KW
- 21–30 KW
- 31–40 KW
- 41–50 KW
- 51–280 KW
- 281–500 KW
- 501–2,000 KW
- 2,001–3,500 KW
- Above 3,500 KW
- Utilities/Power Generation
- Oil & Gas
- Chemicals & Petrochemicals
- Mining & Metals
- Others (Agriculture, Transportation, and Aerospace & Defense)
- IT & Telecom
- Data Centers
- Others (Hotels, Shopping Complexes, Malls, and Public Infrastructure)
- Prime & Continuous
- Peak Shaving
By Fuel Type:
- Others (LPG, biofuel, coal gas, producer gas, gasoline, and propane gas)
By Sales Channel:
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Generator Sales Market
- Based on the power rating, during the projected period, the category with a power rating of up to 50 kW is anticipated to have the highest CAGR. The increased need for backup power solutions in the residential sector drives the market for generators with power ratings up to 50 kW.
- Based on the fuel type, due to its extensive use in the manufacturing, healthcare, oil & gas, maritime, and IT/telecom industries, as well as other sectors, the diesel segment is anticipated to hold the biggest market share. Diesel generators are more user-friendly than gas gensets since they are simple to install and run.
- Based on the application, during the projected period, standby is anticipated to be the largest and fastest-growing segment. The demand for standby gensets is rising due to expanding healthcare infrastructure and data center demand. In addition, the US has seen a rise in the market for backup generators due to extreme weather and related power disruptions. Power outages and an increasing need for continuous power during peak hours are predicted to enhance the market for generators.
- Based on the region, a market share of 48.6% is anticipated for Asia Pacific, which is likely to be the largest and fastest-growing region due to China and India’s increasing need for power goods. The industrialization of the region’s nations has boosted the demand for generators, driving substantial changes in the manufacturing sector in the Asia Pacific.
Key companies covered in the market study are Caterpillar, Cummins, Rolls-Royce Holdings, Weichai Group, Kohler Co., Atlas Copco, Denyo, Wacker Neuson, Doosan, Greaves Cotton Limited, Kirloskar Oil Engines Ltd., Siemens, Aksa Energy, Wärtsilä, Honda, Briggs & Stratton, ABB, Yanmar
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have collaborated with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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