06-30-2023, 07:51 AM
The global generator market is set to surpass a valuation of US$ 32,170.8 mn in 2022 and expected register at a CAGR of 5.5% to reach US$ 54,873.6 mn by the end of 2032.Get more news about 25 kva cummins diesel generator price,you can vist our website!
The global generator market has witnessed remarkable growth in recent years, fueled by the increasing demand for reliable power supply across various sectors. Generators are indispensable in both residential and commercial settings, providing a backup power source during outages or in remote locations without access to the grid. Additionally, industries such as construction, manufacturing, and oil and gas heavily rely on generators to ensure uninterrupted operations. Furthermore, the rising frequency of extreme weather events and natural disasters has highlighted the importance of backup power, further driving the demand for generators in disaster-prone regions. As a result, the generator market has experienced significant expansion, with technological advancements and innovations contributing to the development of more efficient, eco-friendly, and user-friendly generator solutions.
Asia-Pacific excluding Japan (APEJ) is expected to remain the fastest expanding market for generator. Rapid industrial expansion in countries of APEJ, such as China and India, in light of low cost manufacturing facilities underpinned by favorable regulatory policies has influences several OEMs to setup their manufacturing bases in these fast emerging nations. As stability of power supply remains uncertain in these countries, need for effective power source has gained an uptick over the past few years. Generators therefore are witnessing huge demand in APEJ.
• Europe and APEJ will account for nearly equal revenue shares of the market by 2026-end. Although revenues from the market in Europe remained significantly higher in 2017, demand is likely to witness a decline over the forecast period. Meanwhile demand for generators will gain a considerable surge in APEJ during 2017 to 2026.
• On the basis of fuel type, generators run on diesel will witness substantial demand worldwide, accounting for the largest market revenue share during the forecast period. A steady expansion has been projected for sales of generators run on diesel through 2026. Sales of generators run on gas will witness an average expansion, to account for nearly one-third market revenue share by 2026-end.
• Based on end use, revenues from generator sales will remain the largest in the industrial segment. Commercial and residential end use of generators will account for roughly equal revenue share of the market by 2026-end. Sales of generators in the residential segment will reflect the fastest growth through 2026.
• In terms of application, revenues from stationary generators will remain slightly larger than those from their portable counterparts. However, sales of portable generators will ride on a relatively higher CAGR than that of stationary generators through 2026.
• Generators having above 1000 kVA capacity are anticipated to remain dominant in the market, in terms of revenues, trailed by 350-1000 kVA. Revenues from these two capacity segments will account for approximately three-fourth market share by 2026-end. Sales of generators having 100-350 kVA capacity will register the highest CAGR through 2026.
• Key active players underpinning expansion of the global generator market, as identified by Fact.MR's report, include AKSA Power Generation, Caterpillar Inc., Cummins Inc., Generac Power Systems, Honda Power Equipment, Kohler Co., Mahindra Powerol, MTU Onsite Energy, and Wärtsilä Corporation.
The global generator market has witnessed remarkable growth in recent years, fueled by the increasing demand for reliable power supply across various sectors. Generators are indispensable in both residential and commercial settings, providing a backup power source during outages or in remote locations without access to the grid. Additionally, industries such as construction, manufacturing, and oil and gas heavily rely on generators to ensure uninterrupted operations. Furthermore, the rising frequency of extreme weather events and natural disasters has highlighted the importance of backup power, further driving the demand for generators in disaster-prone regions. As a result, the generator market has experienced significant expansion, with technological advancements and innovations contributing to the development of more efficient, eco-friendly, and user-friendly generator solutions.
Asia-Pacific excluding Japan (APEJ) is expected to remain the fastest expanding market for generator. Rapid industrial expansion in countries of APEJ, such as China and India, in light of low cost manufacturing facilities underpinned by favorable regulatory policies has influences several OEMs to setup their manufacturing bases in these fast emerging nations. As stability of power supply remains uncertain in these countries, need for effective power source has gained an uptick over the past few years. Generators therefore are witnessing huge demand in APEJ.
• Europe and APEJ will account for nearly equal revenue shares of the market by 2026-end. Although revenues from the market in Europe remained significantly higher in 2017, demand is likely to witness a decline over the forecast period. Meanwhile demand for generators will gain a considerable surge in APEJ during 2017 to 2026.
• On the basis of fuel type, generators run on diesel will witness substantial demand worldwide, accounting for the largest market revenue share during the forecast period. A steady expansion has been projected for sales of generators run on diesel through 2026. Sales of generators run on gas will witness an average expansion, to account for nearly one-third market revenue share by 2026-end.
• Based on end use, revenues from generator sales will remain the largest in the industrial segment. Commercial and residential end use of generators will account for roughly equal revenue share of the market by 2026-end. Sales of generators in the residential segment will reflect the fastest growth through 2026.
• In terms of application, revenues from stationary generators will remain slightly larger than those from their portable counterparts. However, sales of portable generators will ride on a relatively higher CAGR than that of stationary generators through 2026.
• Generators having above 1000 kVA capacity are anticipated to remain dominant in the market, in terms of revenues, trailed by 350-1000 kVA. Revenues from these two capacity segments will account for approximately three-fourth market share by 2026-end. Sales of generators having 100-350 kVA capacity will register the highest CAGR through 2026.
• Key active players underpinning expansion of the global generator market, as identified by Fact.MR's report, include AKSA Power Generation, Caterpillar Inc., Cummins Inc., Generac Power Systems, Honda Power Equipment, Kohler Co., Mahindra Powerol, MTU Onsite Energy, and Wärtsilä Corporation.
