Global Generator Sales Market Size Will Reach $28.6 Billion By 2027

Global Generator Sales Market Size Will Reach $28.6 Billion By 2027
MarketsandMarkets Research Pvt.  Ltd.

MarketsandMarkets Research Pvt. Ltd.

CHICAGO, September 1, 2022 (The Globe Newswire) – The generator sales market size is expected to grow from $21.6 billion in 2022 to $28.6 billion by 2027, at a compound annual growth rate of 5.8% according to a new report by MarketsandMarkets™. The generator plays a major role in bridging the gap between energy demand and supply. Frequent power outages and increasing demand for uninterruptible and reliable power supplies for various residential, commercial and industrial applications are expected to increase the demand for standby power generation. The rapid expansion of the manufacturing sector, especially in the Asia Pacific region, has increased the demand for generators and power generation systems. However, the increasing adoption of energy storage technologies and significant investments in modernizing existing transmission and distribution (T&D) infrastructure is expected to hamper the growth of the generator sales market. Also, COVID-19 has negatively affected the growth of the power industry, which has had a cascading effect on the manufacturing sector, negatively affecting the demand for generators. Strict government regulations in countries regarding diesel generators is one of the major challenges for players, especially emerging players, operating in the generator sales market.

Browse in depth the table of contents on “Generator Sales Market
281 – Tables
74 – Shapes
334 – Pages

Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=47544335

The diesel generator segment, by fuel type, is expected to be the most important generator sales market during the forecast period

The diesel segment captured the largest share of the generator sales market, by type of fuel, in 2021. Diesel generators are preferred for emergency power supply in case of a power outage or in places where there is no connection to the power grid. Diesel generators have a long operating life and diesel is more readily available compared to natural gas. Thus, diesel generator sets are ideal for long-term (initial) operations with a load range of 70-80% and applications that require extended operating periods (72 or 96 hours). Diesel generator sets are typically three to four times more expensive to gain energy (US$/BTU), have larger upfront costs for installing additional fuel tanks, and high running maintenance costs. Operators can use smaller tanks to reduce fuel maintenance; However, this may increase the risk of running out of fuel. Incidents such as power shortages in Japan and China and large-scale outages in Pakistan and Chinese Taipei in the first half of 2021 created a need for backup capacity in the Asia-Pacific region. Both China and India experienced electricity supply shortages in September and October of 2021, which mainly affected industrial consumers.

The 281-500 kW segment, by power rating, is expected to be the fastest growing generator sales market during the forecast period.

The 281-500 kW segment is expected to have the fastest growing market share during the forecast period. Generators with a power rating of 281-500 kW are mostly used to supply power during power outages and locations where network connections are not available. Industries such as oil and gas, mining, marine, data centers, and healthcare typically choose generators with this power rating. Regions such as North America, the Middle East and Africa have large oil fields that require rapid, flexible and reliable energy response. These generators provide major power sources for the oil and gas industry, particularly to aid in drilling and drilling. These generators, widely used for emergency power, also have a secondary function of feeding power to utility networks either during peak periods or during power shortages.

Make an investigation: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=47544335

The commercial segment, by end user, is expected to be the fastest growing generator market during the forecast period

The industrial sector is expected to have the largest market share during the forecast period. Power outages in commercial buildings can lead to huge financial losses and safety issues. Also, it is difficult for IT and commercial end users to run smooth operations during peak hours and at remote locations with power grids. Generators indirectly protect business interests and revenue by keeping operations running smoothly and avoiding losses. Countries such as China and India have made it mandatory for businesses to maintain a backup power source in case of emergency. The growth of the healthcare, ICT and other sectors is expected to drive the growth of the generator sales market during the forecast period.

The Asia Pacific region is expected to dominate the global generator sales market during the forecast period

In this report, the generator sales market is analyzed into 5 regions, namely, Asia Pacific, North America, Europe, the Middle East and Africa, and South America. The Asia Pacific region is expected to lead the market during the forecast period.

The weakening of the transmission and distribution network in the developing countries of the region, along with the boom in the manufacturing sector, is creating energy demand in the region, which leads to increased demand for generators. The industrial sector in China contributes more than 50% of the GDP, and the growth of this sector has significantly increased energy production and consumption in the country. These factors have made China one of the most lucrative markets for the energy industry. A growing middle-class population and increasing per capita income are creating growth opportunities for the healthcare sector, while population growth and rising per capita income are the main drivers behind the growing energy demand in the Asia Pacific region.

Request form pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=47544335

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Generators Sales market. These companies include Cummins (US), Caterpillar (US), Rolls Royce (UK), Generac (US), and Mitsubishi Heavy Industries, Ltd. (Japan) and Yanmar (Japan). The major players are trying to establish themselves in the markets of developed countries and adopt various strategies to increase their market shares.

Browse related reports:

portable generator market By Fuel (Petrol, Diesel, Natural Gas, etc.), Application (Emergency, Main/Continuous), Power Rating (<5 kW, 5-10 kW, 10-20 kW), End User (Residential, commercial, industrial), and region - global outlook to 2026

Energy leasing market By type of fuel (diesel, natural gas), equipment (generators, transformers, load banks), power rating (up to 50 kW, 51-500 kW, 501-2500 kW, above 2500 kW), application, end user and region – Global Outlook to 2027

CONTACT: About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com

Leave a Reply

Your email address will not be published. Required fields are marked *