Generator Sales Market - Overall Industry Size, Competitor Analysis & Forecast to 2027
The global generator sales market is growing steadily. Generators play an important role when constant energy supply is a concern, acting as a backup in the event of power failure to any industry, grid or construction site. The market growth attributes to the augmenting demand for power led by the ever-increasing population and rapid urbanization & industrialization worldwide. Besides, the rising demand for reliable power supply across the end-users drives the growth of the market.
Moreover, rising demand for energy led by the frequent outages and the natural calamities that can interrupt routine operations across industries escalate the market growth. According to Market Research Future (MRFR), the global generator sales market is projected to expand at approximately 6.2% CAGR during the assessment period (2018 to 2023). Unstable and disturbed power supply situations in most developing countries are major factors supporting the growth of the generator sales market by type.
Additionally, the growing demand for cost-effective and reliable power supply boosts the generator sales market size. Increased usages in rental power is a prevailing trend propelling growth in the market. Furthermore, the increasing number of healthcare infrastructures, rising demand for data centers & IT facilities influence the global generator sales market. Stringent regulations against CO2 emissions create substantial market demand.
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On the other hand, limited power generation capacity and high maintenance and operation cost are some of the major factors projected to impede the growth of the market. Also, the rise in transmission and distribution expenditures obstructs the growth of the global generator sales market. Nevertheless, the increasing power demand would support market growth throughout the assessment period.
Global Generator Sales Market – Segmentations
The report is segmented into five dynamics;
By Type: Continuous, Stand By, and Peak Shave.
By Fuel: Diesel and Gas.
By End-Use: Residential, Commercial and Industrial.
By Portability: Stationary and Portable.
By Regions : Asia Pacific, Europe, Americas, and the Rest-of-the-World.
Global Generator Sales Market – Geographical Analysis
The Asia Pacific region dominates the global generator sales market. The market growth attributes to the increasing need for power and rising industrialization from the growing economies. Besides, the rapid growth in the manufacturing sector in recent times substantiates the growth of the regional market. Frequent outages of electricity support the regional market to demonstrate colossal growth prospects.
Moreover, the ample availability of natural gas, rising natural gas production, and favorable government regulations against greenhouse gas emissions positively impact the regional market’s growth. India and China majorly contribute to the generator sales market in the region owing to the rapid industrial development and commercial activities.
The generator sales market in the Middle East region has emerged as another lucrative market globally. The market growth is driven by the increased smart city projects and increasing activities in the oil & gas industry. Additionally, the upsurge in construction industries due to the infrastructure development projects in the region alongside the augmenting demand from residential sectors fosters the growth of the market.
The North American generator sales market is growing rapidly. Factors such as stringent regulations against CO2 emissions and air & sound population act as a major tailwind for the market growth. Moreover, the rising production of natural gas and shale gas and aging grid infrastructure in the region substantiate the regional market growth. The generator sales market in the US, led by the declining prices of natural gas and carbon emission reduction targets, leads the regional market.
Global Generator Sales Market – Competitive Landscape
Highly competitive, the generator sales market appears to be fragmented due to the presence of many notable industry players. To gain a larger competitive share, players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/product launch.
Simultaneously, trade exhibitions and greater commercialization of products are other key strategies that these players adopt. Committed to delivering reliable and leading-edge products, alongside comprehensive after-sales support, manufacturers strive to develop their portfolio with a range of high-quality generators of different capacities.
Players leading the generator sales market include Cummins (US), Caterpillar (US), Rolls-Royce (UK), Yanmar (Japan), Mitsubishi (Japan), Kohler (US), Himoinsa S.L. (Spain), MTU Onsite Energy (Germany), Siemens AG (Germany), Wartsila (Finland), General Electric (US), and Schneider Electric (France), among others.
Industry/Innovation/ Related News:
August 25, 2020 —– Ideal Motors, a fully owned subsidiary of the Ideal Group and the authorized distributor for Mahindra utility products in Sri Lanka and Mahindra Powerol, a global leader in diesel generators, announced their partnership to offer unmatched after-sales service with every “Mahindra Powerol” Generator purchase.
Mahindra Powerol is a formidable generator that works with a Mahindra engine and is highly productive and efficient in minimal fuel consumption, durability, and low sound disruption. In 2017, Ideal Motors was awarded the sole distributorship of Mahindra Powerol diesel generators. Since then, Mahindra Powerol has been a mainstay in Sri Lanka, catering to large and small-scale companies’ power needs.
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