According to Fortune Business Insights, the global generator sales market size is projected to grow from USD 26.06 billion in 2021 to USD 38.95 billion in 2028, at CAGR of 5.9% during forecast period. Increasing demand for energy globally to stimulate market growth.

/EIN News/ -- Pune, India, Sept. 29, 2022 (GLOBE NEWSWIRE) -- The global generator sales market to grow at a CAGR of 5.9% and reach USD 38.95 billion during forecast period of 2021-2028. The market was valued USD 24.76 billion in 2020. The market growth is attributed to factors such as the increasing demand for energy and the growing focus on electrification of rural areas that promotes the massive generator sales across the globe.

Key Industry Development:

Honda Power Equipment introduced the Honda My Generator Bluetooth® App. This app will enable control and monitor critical operations of Honda generators through a Bluetooth® interface on a smartphone.

The Ministry of Economy, Planning, and Cooperation of the Central African Republic (CAR) announced their plan to install diesel generator units to power the capital city of Bangui. The project is expected to be executed in collaboration between TRAGADEL and Clarke Energy, while obtaining economic support from the Saudi Development Fund (FSD).

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Report Highlights:

Report Coverage	Details
Forecast Period	2021-2028
Forecast Period 2021 to 2028 CAGR	5.9%
2028 Value Projection	USD 38.95 billion
Base Year	2020
Market Size in 2020	USD 24.76 billion
Historical Data for	2017-2019
No. of Pages	260
Segments covered	Power Rating; Fuel Type; Application; End-user; and Region
Growth Drivers	Rapid Industrialization & Growing Construction Expenditure to Augment Market Growth
	Rising Exploration & Production of Oil & Gas to Promote Growth

Market Highlights:

The report further reveals that the rising demand from mining, oil and gas, pharmaceuticals, residential, marine, manufacturing, and other industries will contribute to the global generator sales market growth during the forecast period. Furthermore, rapid development in construction as well as other business units and expansion of mining industry, are likely to boost global market growth. Fortune Business Insights predicts that the global market will not witness tragic decline in sales and growth during the forecast period.

Increasing Energy Consumption to Promote Growth

In June 2020, the BP Statistical Review of World Energy 2020 estimated that the total primary global energy consumption was 583.9 exajoules in 2019 rising from 576.23 exajoules in 2018. The report states that it is a year-on-year increment of over 1.3% and is expected to grow further. The increasing demand for energy owing to the growing incidence of blackouts and natural disasters is expected to boost the generator sales across the globe. Additionally, the primary focus on electrification of rural areas by the government agencies is expected to contribute to the growth of the global generator sales market during the forecast period.

COVID-19 Impact:

Increasing Energy Consumption amid COVID-19 to Amplify Growth

With people confined to their home spaces, the energy demand has increased more than ever. The global pandemic may have led to the temporary closure of industries and other operations. However, the surging residential energy demand is likely to boost generator sales owing to frequent power outages and power restoration activities across the globe.

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What does the Report provide?

The market report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, mergers and acquisitions, and companies' collaborations to maintain market stronghold between 2021 and 2028. 

Market Segments:

Based on the power rating, the market can be broadly categorized into below 75 kVA, 75-375 kVA, 375-750 kVA, and above 750 kVA.

Based on fuel type, the market can be segmented into diesel, gas, and others. The diesel segment held a market share of about 63.0% in 2020 and is expected to experience significant growth during the forecast period. This is ascribable to lower maintenance costs, high load operations, higher efficiency, and reliable operations.

Based on application, this industry can be primarily divided into continuous, peak load, and standby.

Based on end-user, the market can be divided into pharmaceuticals, manufacturing, construction, oil & gas, mining, marine, commercial, telecom, residential, utility, and others. The oil & gas segment held a market share of about 19.7% in 2019 and is expected to experience a significant growth during the forecast period. This is ascribable to factors such as the increasing investments in exploration activities owing to the lucrative opportunities provided by the extraction of huge hydrocarbon reservoirs across the globe.

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Competitive Landscape

Product Launches by Major Companies to Strengthen Market Position

The global generator sales market comprises several key players that are focusing on improving the sales by developing advanced products and further expanding their horizons. The other major companies are adopting strategies such as mergers and acquisitions, and partnerships to maintain their stronghold and gain a competitive edge over their rivals in the global marketplace.

Regional Insights:

Asia Pacific to Remain Dominant; Increasing Focus on Industrialization to Augment Growth

Among all the regions, Asia Pacific is expected to remain at the forefront and hold the largest global generator sales market share in terms of revenue during the forecast period. This dominance is attributable to the increasing focus on developing advanced infrastructures that drive the region's generator sales. The region stood at USD 7.91 billion in 2020.

Asia Pacific is hence considered to be one of the fastest-growing continents in the entire world because of the persistent development in developing countries, namely, China and India. Fortune Business Insights predicts that the demand for diesel generators will rise in these nations due to rising investment towards infrastructural development, which will, in turn, boost the generator sales market in the upcoming years.

The market in North America is expected to showcase considerable growth owing to the growing investments in several industrial verticals from government and private organizations that promote sales in the region between 2021 and 2028.

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List of the Companies Operating in the Market:

• Rolls-Royce (U.K.)
• Caterpillar Inc. (U.S.)
• Atlas Copco (Sweden)
• MAN Energy Solutions (Germany)
• Zwart Techniek (Netherlands)
• Cummins Inc. (U.S.)
• Wacker Neuson (Germany)
• Himoinsa (Spain)
• Kohler-SDMO (France)
• Inmesol S.L.U. (Spain)
• Aggreko (U.K.)
• Daihatsu Diesel Mfg. Co., Ltd. (Japan)
• Ingersoll Rand (U.S.)
• Wartsila (Finland)
• American Honda Motor Company, Inc. (U.S.)
• JCB (U.K.)
• Generac Power Systems (U.S.)
• Perfect Gas Generator (India)
• FG Wilson (U.K.)
• Endress Elektrogerätebau GmbH (Germany)
• PRAMAC (Italy)
• John Deere (U.S.)
• Yanmar (Japan)
• Kirloskar Electric Co. Ltd. (India)
• Briggs & Straton (U.S.)
• Manlift Group (UAE)
• HiPower Systems (U.S.)
• BGG UK (U.K.)

Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Emerging Trends – For Major Countries
  • Latest Technological Advancement
  • Regulatory Landscape
  • Porters Five Forces Analysis
• Qualitative Analysis – Impact of COVID-19
  • Impact of COVID-19 on the Generator Sales Market
  • Steps Taken by the Government to Overcome the Impact
  • Key Developments by Industry Players in Response to COVID-19
  • Potential Opportunities and Challenges due to COVID-19 Outbreak
• Global Generator Sales Market Analysis (USD Billion), Insights and Forecast, 2017-2028
  • Key Findings / Summary
  • Market Analysis, Insights and Forecast – By Fuel Type
    • Diesel
    • Gas
    • Others
  • Market Analysis, Insights and Forecast – By Power Rating
    • Below 75 kVA
    • 75-375 kVA
    • 375-750 kVA
    • Above 750 kVA
  • Market Analysis, Insights and Forecast – By Application
    • Continuous Load
    • Peak Load
    • Standby Load
  • Market Analysis, Insights and Forecast – By End-User
    • Mining
    • Oil & Gas
    • Construction
    • Residential
    • Marine
    • Manufacturing
    • Pharmaceuticals
    • Commercial
    • Telecom
    • Utility
    • Others
  • Market Analysis, Insights and Forecast – By Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa
• North America Generator Sales Market Analysis (USD Billion), Insights and Forecast, 2017-2028
  • Key Findings / Summary
  • Market Analysis, Insights and Forecast – By Fuel Type
    • Diesel
    • Gas
    • Others
  • Market Analysis, Insights and Forecast – By Power Rating
    • Below 75 kVA
    • 75-375 kVA
    • 375-750 kVA
    • Above 750 kVA
  • Market Analysis, Insights and Forecast – By Application
    • Continuous Load
    • Peak Load
    • Standby Load
  • Market Analysis, Insights and Forecast – By End-User
    • Mining
    • Oil & Gas
    • Construction
    • Residential
    • Marine
    • Manufacturing
    • Pharmaceuticals
    • Commercial
    • Telecom
    • Utility
    • Others
  • Market Analysis, Insights and Forecast – By Country
    • United States Market Analysis and Forecast – By Fuel Type
      • Diesel
      • Gas
      • Others
    • Canada Market Analysis and Forecast – By Fuel Type
      • Diesel
      • Gas
      • Others

Continued...

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