Generator Sales - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Generator Sales market is accounted for $20.72 billion in 2018 and is expected to reach $40.06 billion by 2027 growing at a CAGR of 7.6% during the forecast period. Some of the key factors propelling the market growth are rising demand for IT infrastructure and ongoing demand for oil and gas. However, increasing adoption of energy storage technologies and upgrade the existing T&D infrastructure are the restraining factor for the growth of the market.
Electricity has been an economic engine for the world for more than a century giving a reliable source of power as it plays a significant role in the economic prosperity of the world. However, several parts of the world still do not have this amazing facility because of the inaccessibility of the grid. Subsequently, to come out of this terrible condition, generators are generally used to electrify homes, business, manufacturing units, etc. They are the most adaptable power generation equipment which is applied in different industries because of its flexibility and high efficiency. It not only helps in rescuing power outage situation as well as assist industries in avoiding heavy losses due to the power outage. They are mostly used to provide emergency power backup or to provide continuous power.
By fuel type, diesel segment is expected to grow at the significant market share during the forecast period on account of its wide use in the assembling, healthcare, oil & gas, marine, and IT/telecom sectors. In addition, the easy availability of fuel, ease of storage, ease of transportation, and quick response to load changes are some of the factors that are expected to drive the segment. On the basis of geography, Asia Pacific is anticipated to hold considerable market share during the forecast period on account of high demand for power products in China and India. The high financial development rate of China has led to an increase in the demand for power generation equipment such as diesel and gas generators in the country. New approach changes in India to support the growth of industries have made the country a very lucrative market for OEM producers. This is additionally likely to create a huge demand for the market in the region.
Some of the key players in Generator Sales Market include Briggs & Stratton, Caterpillar, Cummins, Generac, Kohler, Mitsubishi Heavy Industries, MQ Power, Rolls-Royce (MTU Onsite Energy), Sterling & Wilson, Wacker Neuson, Wartsila, Weichai Group and Yanmar.
Fuel Types Covered:
• Natural Gas
• Other Fuel Types
Power Ratings Covered:
• Below 100 kVA
• 100–350 kVA
• 350–1,000 kVA
• 1,000–2,500 kVA
• 2,500–5,000 kVA
• Above 5,000 kVA
• Peak Shaving
• Prime & Continuous
End Users Covered:
• It & Telecom
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
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