According to the latest report by IMARC Group, titled "Generator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global generator market reached a value of US$ 20.5 Billion in 2022. A generator converts mechanical energy to provide optimum electrical power for various uses. Mechanical energy differs based on its kinds, such as internal combustion engines, hand cranks, gas turbines, water turbines, and steam turbines, which are further transformed into electrical energy by using generators. These devices are considered useful machines for generating electricity as they are strong, efficient and can be used in standby, prime, continuous, and peak shaving applications. Generators contain various components, such as the main assembly, engine, fuel system, alternator, and cooling and exhaust system, to manage the current effectively. As a result, they are widely deployed to supply emergency power during a grid failure or to provide power in sites with limited grid access.
Global Generator Market Trends:
The global market is majorly driven by the increasing demand for uninterrupted power supply. In line with this, the rising intensity and frequency of weather-related disasters are positively influencing the market. Furthermore, the growing data center outage costs are catalyzing the market. Apart from this, stringent environmental compliances and widespread focus on cost reduction, energy efficiency, and utilization of cleaner sources are contributing to the market expansion. Moreover, the rising significance of reliable emergency power supply, along with the growing susceptibility of grid infrastructure to external damage, is offering numerous growth opportunities in the market. Besides, the escalating need for the equipment to sustain day-to-day operations across many end users is favoring the product uptake across the globe. Other factors, including rapid industrialization, increasing infrastructure development, and the flourishing telecom sector, are also providing a boost to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 28.5 Billion by 2028, exhibiting a CAGR of 5.10% during 2023-2028.
- On the basis of the fuel type, the market has been segmented into diesel, gas, and others.
- Based on the power rating, the market has been categorized into below 75 kVA, 75-375 kVA, 375-750 kVA, and above 750 kVA.
- On the basis of the application, the market has been classified into continuous load, peak load, and stand by load.
- On the basis of the end users, the market has been segmented into residential, commercial, and industrial.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include 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
||Fuel Type, Power Rating, Application, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800