USD 21.6 billion
Generator Sales Market Size, Share, Growth Analysis, By Power Rating, By Fuel Type, By Portability, By Application, By End-User, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG10F2012 |
Region:
Global |
Published Date: December, 2024
Pages:
242
|Tables:
126
|Figures:
77
Generator Sales Market Insights
Generator Sales Market size was valued at USD 22.85 Billion in 2023 and is poised to grow from USD 24.18 Billion in 2024 to USD 37.96 Billion by 2032, growing at a CAGR of 5.8% during the forecast period (2025-2032).
Increasing demand for power is a product of a remarkable process of industrialization. Generators and gensets are vital equipment components in residences and industries due to the requirement for uninterrupted power and continuous power usage. In order to provide the most efficient electrical power for a variety of uses, gensets convert mechanical energy. A genset unit has a variety of components that work together to properly generate and manage current, including an engine, fuel system, alternator, main assembly, cooling & exhaust system, and others.
In many countries, especially in developing countries, the growing demand for electricity has exceeded the ability of those countries to deliver it. The amount of power generated has been constrained by the rise in per capita energy demand and the urbanisation and industrialization that have accompanied it. Because of this, businesses can't completely rely on the grid to obtain power and ensure a constant supply. Therefore, businesses must invest in generators that can produce power on demand and maintain business operations in the case of an outage.
Many types of equipment and machinery used throughout a wide range of industries often include power supply 24 hours a day, seven days a week, or they will stop working and could result in significant financial loss for the business. Vital industries like healthcare also cannot afford to lose power because it is linked to public health. The rise of the generator sales market has been driven by these factors considered collectively.
US Generator Sales Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Standby Load
Fastest Growth
Standby Load
Growth Rate
5.8% CAGR
Global Generator Sales Market ($ Bn)
Country Share for North America Region (%)
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Generator Sales Market Segmental Analysis
Global Generator Sales Market is segmented by Power Rating, Fuel Type, Portability, Application, End-User and region. Based on Power Rating, the market is segmented into Below 75 kVA, 75-375 kVA, 376-750 kVA, above 750 kVA. Based on Fuel Type, the market is segmented into Diesel, Gas, Others. Based on Portability, the market is segmented into Stationary, Portable. Based on Application, the market is segmented into Continuous Load, Peak Load, Standby Load. Based on End-User, the market is segmented into Mining, Oil & Gas, Construction, Residential, Marine, Manufacturing, Pharmaceuticals, Commercial, Telecom, Utility, Data Center, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Generator Sales Market Analysis by Application
The standby load application segment dominated the global due to the strong infrastructure development and the recovering economy. The wide range of applications across utility firms, mining, and construction sites will improve the business climate. These devices are often employed when the amount of energy that can be drawn from the power grid is constrained. Prime power units will be crucial to increased government measures to increase electricity rates. Supporting the primary grid or incorporating renewable energy sources to improve the unstable electricity supply are further applications for such systems.
Generator Sales Market Analysis by End User
The oil and gas industry dominated the global market. The broad application of this technology for backup power generation on oil and gas fields and construction sites will sustain the dominance of this generator. On-site gensets are frequently utilized in remote locations to power directional drilling, thus the industrial demand will rise as a result. The penetration of significant electronic loads and the increased demand for stable and reliable power sources have changed the economy and will continue to do so. The manufacturing industry is anticipated to support the product rollout because there is an increasing need for a reliable power source to operate an assembly line. Unexpected power cuts can also generate construction delays, raw material waste, and missed deadlines in a manufacturing facility, all of which will increase demand for the product. The product's key benefits are greater capacity, superior endurance, and high volatility rates, all of which raise its economic potential.
Global Generator Sales Market By Application
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Generator Sales Market Regional Insights
Due to rising governmental and private expenditure on industrial development in developed nations such as Canada and the US, it is anticipated that market in North America will increase quickly during the forecast period. The market in North America is growing as a result of increasing government policies, regulations, and investments aimed at increasing building energy security in the area. Major companies in the market are present in North America, which stimulates market growth there. These are the main factors driving the demand for the sale of generators in North America.
A high CAGR is expected for the Asia Pacific market during the forecast period as a consequence of the region's increasing focus on rapid industrialization, urbanization, and infrastructure investment. The country has evolved into a sizable market for OEM manufacturers as a result of recent legislative reforms and initiatives implemented by governments in the region to assist the expansion of industries. In countries such as China, India, Japan, Singapore, and Australia, the data center industry is growing fast. These are the primary driving factors behind Asia Pacific generator sales market.
Global Generator Sales Market By Region
- Largest
- Fastest
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Generator Sales Market Dynamics
Generator Sales Market Drivers
Global generator sales market growth driven by the rising adoption in construction industry
- The demand for generators is expected to increase in the upcoming years due to rising construction activity and investment around the globe. On construction sites, generators provide power backup during power outages. During the projected period, the extensive use of generators in the construction industry is expected to fuel market growth.
Growing Oil & Gas Exploration and Production Activities to Encourage Growth
- In both growing and developed economies, the need for power has suddenly increased throughout time. Additionally, the global market has benefited from the rising investments made to generate hydrocarbons from reserves. For instance, according to the BP Statistical Review of World Energy 2022, global primary energy consumption reached 595.15 exajoules in 2021, up from 564.01 exajoules in 2020, a rise of more than 5.8% year over year.
Generator Sales Market Restraints
Rising Green Energy Adoption of Technology Can Impact Market Growth
- Strong clean energy deployment targets set by numerous regional governments and organizations to reduce greenhouse gas emissions may impede the market expansion. To integrate low-carbon generation technology and reduce their carbon footprint, several governments are required to follow strict laws. This could reduce the likelihood of genset installation all over the world. Additionally, there may be issues with product uptake due to the increasing investments being made to upgrade the grid infrastructure and improve the transmission and distribution (T&D) lines.
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Generator Sales Market Competitive Landscape
The global generator sales are dominated by a number of significant competitors that are focusing on increasing revenues by developing cutting-edge goods and broadening their market reach. To preserve their dominance and gain a competitive advantage over their rivals in the global market, the other large corporations are implementing strategies like partnerships, mergers, and acquisitions.
Generator Sales Market Top Player’s Company Profiles
- Caterpillar Inc.
- Cummins Inc.
- Generac Power Systems
- Mitsubishi Heavy Industries
- Kohler Co.
- Rolls-Royce Holdings
- Siemens AG
- ABB Ltd.
- Atlas Copco AB
- Briggs & Stratton Corporation
- Aggreko PLC
- Yanmar Co., Ltd.
- Doosan Portable Power
- Wacker Neuson SE
- Wärtsilä Oyj Abp
- AKSA Power Generation
- Perkins Engines Company Limited
- Kirloskar Oil Engines Limited
- Mahindra Powerol Ltd.
- Sterling Generators Pvt. Ltd.
Generator Sales Market Recent Developments
- In January 2022, Rolls-Royce and its distribution partners Knopf & Wallisch (K&W) delivered the integrated cooling, heating, and electrical plant tri-generation units totaling three MTU to the Romanian cloud provider Cluster Power.
- In October 2022, The MDE330 and MDE570 diesel mobile generators are two new, large diesel units from Generac Power Systems, Inc., a producer of mobile goods for mining, construction, and other industries. They are designed to be simple to maintain and operate. Wide-opening detachable doors on the rental-ready equipment increase serviceability.
Generator Sales Key Market Trends
- The industry's fast development has resulted in higher electricity demand. Due to constant power demand, peak power requirements, and residential and commercial equipment needs, generators have become a necessary component. This construction business is expected to grow as a result of the increasing costs of constructing modern structures in emerging nations. Demand in the mining business is expected to rise because of the ongoing need for various minerals and metals to manufacture products for various sectors. The requirement for telecom stations in the telecom industry is expected to result from the increasing reach of telecommunication lines. The expansion of the industrial industry is encouraged by the requirement for continuous power supply, which is essential for the effective operation of heavy machinery and equipment. Continuous power supply is highly desired in many industries for a wide range of reasons. Multiple commercial applications may function without disruption due to the constant power supply. Generators play an important role in the continuous power supply of residential communities in several locations around the world. The key market players globally have many opportunities for growth due to the increasing demand for continuous power supply.
Generator Sales Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Generator Sales Market analysis, the growth of the global market during the forecast period will be driven more by increasing demand from multiple industries, such as mining, oil and gas, pharmaceuticals, residential, marine, and manufacturing. Furthermore, the expansion of the mining industry as well as other business areas' rapid development are expected to boost the growth of the global market. Both developing and emerging nations have seen a sharp increase in power consumption in recent years. Furthermore, the global market is benefited from increased investments in the extraction of hydrocarbons from reserves.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 21.6 billion |
| Market size value in 2031 | USD 35.88 billion |
| Growth Rate | 5.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Generator Sales Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Generator Sales Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Generator Sales Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Generator Sales Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Generator Sales Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Generator Sales Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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