Generators refers to a device that converts mechanical energy to electrical energy. It uses various fuel sources such as gasoline, diesel, and gas as fuel to run the internal combustion engine. Generators are widely used as a source of power backup in various industries, commercial installations, and residential buildings.
Generators market is anticipated to gain thrust with a growing demand for uninterrupted power supply during power grid downtime. Operations of commercial establishments such as malls, data centers, hospitals, construction are highly dependent on the power supply. Growing power outage due to lack of power generation and grid maintenance activities impacting business operations of commercial installations which in turn is influencing commercial installations to use generators as a power backup source. Thus, fueling the demand for power backup equipment such as generators. Further, a growing gap between power generation and power supply resulting in a power outage which in turn is anticipated to increase the demand for generators over the forecast period. Moreover, increasing power cuts and voltage fluctuations adversely impact the operations of industries, which in turn is influencing the industries to adopt reliable power backup equipment such as generators to reduce their downtime due to power outages. This in turn is expected to augment the demand for generators over the forecast period (2021 - 2029). However, the high cost of acquisition and increasing use of renewable energy sources such as solar, wind coupled with favorable regulatory policies for use of renewable energy sources is expected to hamper the growth of generators market during the forecast period (2021 - 2029).
North America is expected to the largest region in the global generators market owing to the increasing demand for generators in commercial establishments and industries is expected to drive the demand in the region. The Asia Pacific is anticipated to be the fastest-growing region due to rapid urbanization and industrialization especially in China and India fueling the demand for generators over the forecast period (2021 - 2029).
The global generators market is expected to be valued at US$ 23.23 Bn in 2020 and is projected to expand at a CAGR of 6.3% during the forecast period 2021 - 2029.
The purpose of this strategic research study titled Global generators market Growth, Future Prospects, Competitive Analysis and Forecast, 2021 - 2029 is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the opportunities in the global generators market.
Among end-use, the commercial segment was the largest segment in 2020. The growth of the segment is augmented by rising demand for uninterrupted power supply from various commercial establishments such as malls, banks, restaurants, movie theatres, hospitals, schools, offices, and other commercial buildings fueling the demand for generators. The industrial segment is anticipated to be the fastest-growing segment due to rapid industrialization especially in emerging economies fueling demand for power supply. Power cuts due to supply-demand unbalance and grid maintenance activities influencing industries to adopt generators as an alternate power source to minimize their losses due to downtime. Further, increasing voltage fluctuation from the grid causing wear and tear of high-value equipment which in turn is encouraging the use of generators as an alternative power source. The segment is anticipated to gain significant market share by 2029. The residential segment is also anticipated to register steady growth due to increasing demand from residential buildings is anticipated to drive the demand for generators during the forecast period (2021 - 2029).
Europe, Latin America, Middle East & Africa (MEA) are anticipated to collectively contribute significant revenue shares in the global generators market and are projected to grow at a steady rate over the forecast period (2021 - 2029).
This product will be delivered within 2 business days.
Generators market is anticipated to gain thrust with a growing demand for uninterrupted power supply during power grid downtime. Operations of commercial establishments such as malls, data centers, hospitals, construction are highly dependent on the power supply. Growing power outage due to lack of power generation and grid maintenance activities impacting business operations of commercial installations which in turn is influencing commercial installations to use generators as a power backup source. Thus, fueling the demand for power backup equipment such as generators. Further, a growing gap between power generation and power supply resulting in a power outage which in turn is anticipated to increase the demand for generators over the forecast period. Moreover, increasing power cuts and voltage fluctuations adversely impact the operations of industries, which in turn is influencing the industries to adopt reliable power backup equipment such as generators to reduce their downtime due to power outages. This in turn is expected to augment the demand for generators over the forecast period (2021 - 2029). However, the high cost of acquisition and increasing use of renewable energy sources such as solar, wind coupled with favorable regulatory policies for use of renewable energy sources is expected to hamper the growth of generators market during the forecast period (2021 - 2029).
North America is expected to the largest region in the global generators market owing to the increasing demand for generators in commercial establishments and industries is expected to drive the demand in the region. The Asia Pacific is anticipated to be the fastest-growing region due to rapid urbanization and industrialization especially in China and India fueling the demand for generators over the forecast period (2021 - 2029).
The global generators market is expected to be valued at US$ 23.23 Bn in 2020 and is projected to expand at a CAGR of 6.3% during the forecast period 2021 - 2029.
Purpose of the Report
The purpose of this strategic research study titled Global generators market Growth, Future Prospects, Competitive Analysis and Forecast, 2021 - 2029 is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the opportunities in the global generators market.
Target Audience
- Industry Investors
- Research Professionals
- Emerging Companies
- Generators manufacturers
- Raw material suppliers for generators
- Research Institutes
USP and Key Offerings
The report titled Global Generators Market Growth, Future Prospects, Competitive Analysis and Forecast, 2021 - 2029 offers strategic insights into the generators market along with the market size and estimates for the duration of 2019 to 2029. The said research study covers an in-depth analysis of multiple market segments based on product type, power rating, end-use and cross-sectional study across different geographies. In order to help strategic decision-makers, the report also includes competitive profiling of the leading generators manufacturers, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:
- Current and future market trends to validate the forthcoming attractive markets within generators market.
- Market fuelers, market impediments, and their impact on the market growth
- In-depth competitive environment analysis
- Trailing 3-Year market size data (2019 - 2020)
- SRC (Segment-Region-Country) Analysis
On the basis of end-use, the global generators market is categorized into the following types:
- Residential
- Industrial
- Commercial
Among end-use, the commercial segment was the largest segment in 2020. The growth of the segment is augmented by rising demand for uninterrupted power supply from various commercial establishments such as malls, banks, restaurants, movie theatres, hospitals, schools, offices, and other commercial buildings fueling the demand for generators. The industrial segment is anticipated to be the fastest-growing segment due to rapid industrialization especially in emerging economies fueling demand for power supply. Power cuts due to supply-demand unbalance and grid maintenance activities influencing industries to adopt generators as an alternate power source to minimize their losses due to downtime. Further, increasing voltage fluctuation from the grid causing wear and tear of high-value equipment which in turn is encouraging the use of generators as an alternative power source. The segment is anticipated to gain significant market share by 2029. The residential segment is also anticipated to register steady growth due to increasing demand from residential buildings is anticipated to drive the demand for generators during the forecast period (2021 - 2029).
On the basis of fuel type, the global generators market is categorized into the following types:
- Diesel
- Gasoline
- Others
On the basis of power rating, the global generators market is categorized into the following types:
- Below 100 kVA
- 100-350 kVA
- 350-1000 kVA
- Above 1000 kVA
On the basis of geography, the global generators market is segmented into the following categories,
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- Rest of MEA
Europe, Latin America, Middle East & Africa (MEA) are anticipated to collectively contribute significant revenue shares in the global generators market and are projected to grow at a steady rate over the forecast period (2021 - 2029).
This product will be delivered within 2 business days.
Table of Contents
1. Preface
2. Executive Summary
3. Market Dynamics
4. Global Generator Market Size (US$ Bn), By Fuel Type, 2019 - 2029
5. Global Generator Market Size (US$ Bn), By Power Rating, 2019 - 2029
6. Global Generator Market Size (US$ Bn), By End Use, 2019 - 2029
7. Global Generator Market Size (US$ Bn), By Geography, 2019 - 2029
8. Company Profiles
Companies Mentioned
- Caterpillar Inc.
- Himonisa S.L.
- Aggreko
- APR Energy
- Atlas Copco
- Broadcrown
- Cummins Inc.
- Generac Holdings Inc.
- Mitsubishi Heavy Industries Ltd.
- Briggs & Stratton Corporation
- Kirloskar Electric Company Ltd.
- MQ Power Corporation
- Wartsila Corporation.
