Generator Sales Market 2022 – Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Market Size & Forecast 2030

Generators are machines that convert mechanical energy into electrical energy with the help of an electric motor and diesel or gas or any other substance as fuel for the purpose of using it in an external circuit. These devices are primarily adopted for the transmission & distribution of power lines to industrial, residential, and commercial consumption. They are also utilized to generate electric energy for automotive, trains, aircraft, and ships. Generators assist industries in generating power in case of any load shed from the state distribution companies. The global generator sales market is anticipated to flourish at a compounded annual growth rate (CAGR) of 4.7% during the forecast period of 2022-2030.

Growth Drivers

The last few years have witnessed a colossal growth in the overall number and scale of industries such as power generation, healthcare, etc., across the globe. These industries require uninterrupted power & energy supply for the smooth functioning of operations. Moreover, the demand for energy is rising across the globe due to the surging incidence of blackouts and natural disasters. All these factors contribute to an enhanced demand for generators which in turn is aiding in the expansion of the global generator sales market. Additionally, the leading players operating in the global generator sales market emphasize developing and introducing new and advanced products to cater to the increasing demand from end users. The launch of such innovative products by market players into the market is slated to swiftly boost the growth of the overall generator sales market in the next few years.

Furthermore, the rapid industrialization across the globe, the growing demand for power backup systems, the rising environmental concerns, the surging focus of governments on the electrification of rural areas and the rapidly expanding manufacturing sector are among other major factors driving the growth of the global generator sales market. However, the rising transmission & distribution expenditure, the high operation & maintenance costs associated with generators, and the implementation of stringent government regulations may act as major hindrances to the growth of the global generator sales market during the forecast period of 2022-2030.

Generator Sales Market Segmentation

By Fuel Type:

·        Diesel

·        Gas

·        Others

By Application:

·        Standby

·        Prime & Continuous

·        Peak Shaving

By End User:

·        Industrial

·        Commercial

·        Residential

By Rating:

·        Below 100 kVA

·        100–350 kVA

·        350–1,000 kVA

·        1,000–2,500 kVA

·        2,500–5,000 kVA

·        Above 5,000 kVA

By Portability:

·        Stationary

·        Portable

By Sales Channel:

·        Direct

·        Indirect

By Region:

·        North America

·        Europe

·        Asia Pacific

·        Latin America

·        Middle East and Africa

Generator Sales Market: Fuel Type Review

On the basis of fuel type, the global generator sales market is segmented into diesel, gas, and others. The diesel segment captured the largest share of the market in 2021. The momentum is expected to remain unhampered over the forecast period of 2022-2030. The high usage of diesel across various industries and the advantages of the ease of availability, transportation, and storage associated with diesel, along with their capacity to generate a large amount of power, is primarily ascribed to the large share of this segment. However, the gas segment is predicted to register the highest growth in the market during the forecast period of 2022-2030. This can be attributed to several countries' growing adoption of natural gas-based power generation technologies to reduce emissions.

Generator Sales Market: End User Review

 On the basis of end user, the global generator sales market is segmented into industrial, commercial, and residential. The industrial segment is projected to acquire the largest share and expand at the highest CAGR during the forecast period of 2022-2030. The increasing number of favorable government policies aimed at the development of energy infrastructure and the adoption of generators across industries and the rapidly expanding oil & gas sector across major developing and under-developed regions worldwide are predominantly contributing to the large share and high growth of this segment.

Generator Sales Market: Application Review

On the basis of application, the global generators sales market is segmented into standby, prime & continuous, and peak shaving. The standby segment is anticipated to account for the largest share and also witness the highest growth in the market during the forecast period of 2022-2030. This can be attributed to the rising demand for data centers and the rapidly expanding healthcare infrastructure across the globe.

Generator Sales Market: Portability Review

 On the basis of portability, the global generator sales market is segmented into stationary and portable. The portable segment is predicted to lead the market during the forecast period of 2022-2030. The major factors responsible for the high growth of this market include the high preference for portable generators over stationary generators due to their easy transportability, the requirement of less amount of fuel, and the growing number of short-term projects across the globe.

Regional Outlook

The generator sales research report offers detailed analysis and forecasts for five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The Asia Pacific region is expected to be the most dominating and the fastest growing regional market for generator sales during the forecast period, followed by North America and the Middle East & Africa region. The major factors attributable to the large market share of the region include the rising government support in the form of subsidies and other benefits to encourage the adoption of generators, the presence of the major emerging nations, the rising demand for power generation equipment, the fast-paced expansion of the manufacturing sector, and the burgeoning need to fulfill the energy requirements of industries in the region. India and China are the leading contributors to the market in the region.

The North American region accounted for the second-largest share in the generator sales market in 2021. The region is estimated to further achieve substantial growth in the market during the forecast period of 2022-2030. This can be ascribed to the rising technological advancements in generator technologies, the proliferating need for constant electric supply, the growing oilfield activities, the surging focus on reducing power outage incidences, and the increasing number of IT companies and healthcare providers institutions in the region. Moreover, the escalating investments from government & private organizations towards boosting the adoption of generators and the high penetration of the natural gas network are also anticipated to augment the growth of the market in the region during the forecast period. The U.S. and Canada are the major contributors to the market in the region.

The generator sales market in the Middle East & Africa region is expected to gain robust growth during 2022-2030, mainly due to the rapidly expanding oil & gas industry and the growing number of smart cities projects in the region.

The report also identifies the country market outlook for generator sales, covering country-wise market size, growth rate, market share, segmentation, leading players, current trends, and opportunities.

Key Companies in Generator Sales Market:

The research report offers a competitive analysis of prominent companies operating in the global generator sales market. Some of the leading players profiled in the market research report include:

·        Caterpillar

·        Cummins

·        Kohler-SDMO

·        Generac

·        Aksa

·        Himoinsa

·        ABB

·        Denyo Co. Ltd.

·        Doosan

·        Cooper Corp.

·        Mitsubishi Heavy Industries Ltd.

·        Other Players