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The global generator market reached a value of US$ 19.30 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 27.07 Billion by 2027, exhibiting at a CAGR of 5.3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
A generator is a machine that converts mechanical energy to provide an optimum amount of electrical power. It usually comprises an engine, charger, main control, alternator, voltage regulator, fuel system, main assembly, and a cooling and exhaust system. It is widely used in commercial and residential areas to offer emergency power and survive prolonged power outages. Nowadays, several manufacturers are introducing advanced generators that automatically switch on when the local power grid turns off.
Extreme weather events and natural disasters like earthquakes, hurricanes, tornadoes, and tsunamis can cause blackouts. This represents one of the key factors driving the sales of home generators worldwide, especially in rural areas, to address power shortages and ensure an uninterrupted power supply. Moreover, construction activities usually require high electric power to run various equipment and machinery. As these sites are in remote areas and cannot avail grid supply, a significant rise in the number of construction activities is positively influencing the sales of high-power generators across the globe. Apart from this, with the growing environmental concerns, natural gas generators are gaining traction in industrial sites to survive power overloads. This can also be attributed to stringent regulations implemented by governments of various countries to reduce the negative environmental impact of generators. Furthermore, due to rapid urbanization and increasing reliance on electricity, there is a rise in the utilization of portable generators in residential applications. Besides this, commercial generators are employed as an emergency power backup in the healthcare industry to keep life support machines and other necessary medical tools working. Additionally, there is a rise in the need for hydrogen-oxygen generators with a nebulizer to alleviate the symptoms of pneumonia in patients with coronavirus disease (COVID-19), which is strengthening the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global generator market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on fuel type, power rating, application and end user.
Breakup by Fuel Type:
Breakup by Power Rating:
Breakup by Application:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Atlas Copco AB, Bharat Heavy Electricals Limited, Briggs & Stratton Corporation, Caterpillar Inc., Cummins Inc., Generac Power Systems Inc., General Electric Company, Kohler Co., Mitsubishi Heavy Industries Ltd., Rolls-Royce plc, Siemens AG, Toshiba Corporation, Wacker Neuson SE and Wärtsilä Corporation.
|Base Year of the Analysis||2021|
|Segment Coverage||Fuel Type, Power Rating, Application, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||ABB Ltd., Atlas Copco AB, Bharat Heavy Electricals Limited, Briggs & Stratton Corporation, Caterpillar Inc., Cummins Inc., Generac Power Systems Inc., General Electric Company, Kohler Co., Mitsubishi Heavy Industries Ltd., Rolls-Royce plc, Siemens AG, Toshiba Corporation, Wacker Neuson SE and Wärtsilä Corporation.|
|Customization Scope||10% Free Customization|
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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