Generator Sales Market
PUBLISHED: 2024 ID: SMRC25510
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Generator Sales Market

Generator Sales Market Forecasts to 2030 - Global Analysis By Fuel Type (Diesel, Gasoline, Propane, Natural Gas and Hydrogen), By Portability (Portable and Stationary), Mode of Operation, Power Rating, Distribution Channel, End User and By Geography

4.5 (39 reviews)
4.5 (39 reviews)
Published: 2024 ID: SMRC25510

This report covers the impact of COVID-19 on this global market
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Years Covered

2021-2030

Estimated Year Value (2023)

US $30.7 BN

Projected Year Value (2030)

US $48.7 BN

CAGR (2023-2030)

6.8%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Generator Sales Market is accounted for $30.7 billion in 2023 and is expected to reach $48.7 billion by 2030 growing at a CAGR of 6.8% during the forecast period. Generator sales describe the process of selling generators, which are devices that convert mechanical energy into electrical energy. Generators are commonly used as backup power sources in case of electricity outages or as primary power sources in off-grid locations. Generator sales involve marketing, selling, and distributing various types of generators to residential, commercial, industrial, and institutional customers.

According to the BP Statistical Review of World Energy 2022, global primary energy consumption in 2021 reached 595.15 exajoules, up from 564.01 exajoules in 2020, representing a 5.8% increase year over year.

Market Dynamics: 

Driver: 

Increasing demand for continuous power supply

Various industries, including healthcare, data centers, telecommunications, and manufacturing, require uninterrupted electricity to maintain operations. Additionally, growing reliance on digital technologies, automation, and connectivity necessitates reliable power sources to prevent downtime and productivity losses. As a result, organizations invest in backup power solutions such as generators to ensure continuous operations, thereby driving the demand and growth of the generator sales market.

Restraint:

Fluctuations in fuel prices

Changes in fuel costs, particularly for diesel and natural gas, directly impact the operating expenses of generators over their lifespan. High fuel prices increase the total cost of ownership for generator users, making alternative power sources more appealing. Additionally, volatile fuel prices can lead to uncertainty in budgeting and planning for generator installations, affecting purchasing decisions and overall market demand for generators. 

Opportunity:

Development of hybrid power systems

Hybrid power systems combine multiple energy sources, such as diesel generators, renewable energy sources like solar or wind, and energy storage solutions. These systems offer improved energy efficiency, reduced fuel consumption, and lower emissions compared to traditional generators alone. Additionally, they provide greater flexibility and resilience by leveraging multiple power sources, catering to the growing demand for sustainable and reliable energy solutions in various applications.

Threat:

Advancements in grid infrastructure and reliability

Improved grid systems, including smart grids and renewable energy integration, reduce the frequency and duration of power outages, diminishing the need for backup generators. Additionally, grid modernization efforts enhance energy efficiency and reliability, reducing dependence on standalone power sources. As a result, generator sales may face challenges in regions with robust grid infrastructure, leading to decreased demand and potential market saturation.
 
Covid-19 Impact: 

The COVID-19 pandemic has impacted the generator sales market by increasing demand for backup power solutions, particularly in healthcare facilities, data centers, and essential industries to ensure uninterrupted operations. However, supply chain disruptions, economic uncertainties, and project delays have affected generator sales in other sectors, such as construction and manufacturing. Nonetheless, the overall market has shown resilience due to the essential nature of generators in maintaining critical infrastructure and services during the pandemic.

The diesel segment is expected to be the largest during the forecast period

The diesel segment is anticipated to be the largest in the generator sales market during the forecast period due to their high power output, robustness, and fuel efficiency, making them suitable for a wide range of applications in residential, commercial, and industrial sectors. Additionally, diesel generators are preferred for their reliability, long operational life, and availability of fuel. These factors, coupled with widespread usage in emergency backup power systems, contribute to the dominance of this segment in the market.

The e-commerce segment is expected to have the highest CAGR during the forecast period

The e-commerce segment is anticipated to experience the highest growth in the generator sales market during the forecast period due to several factors. Increasing consumer preference for online shopping, coupled with the convenience of purchasing generators and related accessories online, drives the demand for e-commerce platforms. Moreover, e-commerce offers a wide range of options, competitive pricing, and doorstep delivery, appealing to both residential and commercial customers seeking efficient and hassle-free solutions for their backup power needs.

Region with largest share:

The North American region is estimated to capture the largest market share in the generator sales market due to its strong demand for generators in both residential and commercial sectors, particularly in areas prone to natural disasters or unreliable grid infrastructure. Additionally, stringent regulations and safety standards drive the adoption of backup power solutions. Furthermore, the presence of key generator manufacturers and established distribution networks further solidifies North America's dominance in the market.

Region with highest CAGR:

Asia Pacific is estimated to register the highest growth rate in the generator sales market due to rapid industrialization, urbanization, and infrastructure development projects across countries like China, India, and Southeast Asian nations, which drive the demand for backup power solutions. Moreover, frequent power outages, especially in remote and rural areas, increase the reliance on generators. Additionally, rising disposable incomes and growing awareness about the importance of reliable power sources further contribute to the market's growth in the region.

Key players in the market

Some of the key players in Generator Sales Market include Aggreko plc, Atlas Copco AB, Briggs & Stratton Corporation, Caterpillar Inc., Cummins Inc., Doosan Corporation, FG Wilson, Generac Holdings Inc., Himoinsa S.L., Honda Motor Co., Ltd., Ingersoll Rand Inc., JCB Power Products Ltd., Kirloskar Electric Company Limited, Kohler Co., Mitsubishi Heavy Industries, Ltd., MTU Onsite Energy GmbH, Wacker Neuson SE, Wärtsilä Corporation and Yanmar Co., Ltd.

Key Developments:

In July 2023, Himoinsa presents its customers with a novel diagnostic system, enabling them to easily and intuitively conduct advanced diagnostic and maintenance procedures on HIMOINSA generator sets. Known as the HIMOINSA Diagnostic, this tool assists users in recognizing error codes, pinpointing specific parts and their placements, and executing tasks that entail parameter adjustments across various ECUs. These tasks encompass activities, such as sensor calibration, operational parameter configuration, and the replacement and regeneration of the DPF, among several others.

In May 2023, Caterpillar has introduced two fresh collections of mobile generators within its XQP series of mobile diesel generator sets, meeting the requirements of EU stage 5 regulations. These new generator sets represent the highest and lowest capacities within the XQP spectrum. This development implies that Caterpillar currently provides a total of five sets, spanning from 20 to 550 kVA prime power, all following the prevailing European emissions criteria.

In April 2023, Atlas Copco has launched the NGP 130+ as the latest addition to the PSA nitrogen generator series. Simultaneously, the company has unveiled advanced control and automation technology for its smaller units. This expansion has resulted in a comprehensive premium range encompassing various sizes and features, ensuring optimal cost of ownership, dependability, and customer adaptability. 

Fuel Types Covered:
• Diesel
• Gasoline
• Propane
• Natural Gas
• Hydrogen
 
Portability’s Covered:
• Portable
• Stationary   

Mode of Operations Covered:
• Continuous Duty
• Standby
• Peak Shaving  

Power Ratings Covered:
• Below 10 kVA
• 10 kVA
• 15 kVA
• 20 kVA
• 25 kVA
• 30 kVA
• 40 kVA
• 50 kVA
• 60 kVA
• 75 kVA
• 100 kVA
• 125 kVA
• 150 kVA
• 200 kVA
• 250 kVA
• 300 kVA
• 350 kVA
• 400 kVA
• 500 kVA
• Above 500 kVA

Distribution Channels Covered:
• Direct Sales
• E-commerce
• OEM Sales
• Rental Companies
• Retail stores
• Wholesale Distribution
• Other Distribution Channels   

End User Covered:
• Industrial
• Commercial
• Residential  

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary   
    
2 Preface   
 2.1 Abstract  
 2.2 Stake Holders  
 2.3 Research Scope  
 2.4 Research Methodology  
  2.4.1 Data Mining 
  2.4.2 Data Analysis 
  2.4.3 Data Validation 
  2.4.4 Research Approach 
 2.5 Research Sources  
  2.5.1 Primary Research Sources 
  2.5.2 Secondary Research Sources 
  2.5.3 Assumptions 
    
3 Market Trend Analysis   
 3.1 Introduction  
 3.2 Drivers  
 3.3 Restraints  
 3.4 Opportunities  
 3.5 Threats  
 3.6 End User Analysis  
 3.7 Emerging Markets   
 3.8 Impact of Covid-19  
    
4 Porters Five Force Analysis   
 4.1 Bargaining power of suppliers  
 4.2 Bargaining power of buyers  
 4.3 Threat of substitutes  
 4.4 Threat of new entrants  
 4.5 Competitive rivalry  
    
5 Global Generator Sales Market, By Fuel Type   
 5.1 Introduction  
 5.2 Diesel  
 5.3 Gasoline  
 5.4 Propane  
 5.5 Natural Gas  
 5.6 Hydrogen  
    
6 Global Generator Sales Market, By Portability   
 6.1 Introduction  
 6.2 Portable  
 6.3 Stationary  
    
7 Global Generator Sales Market, By Mode of Operation   
 7.1 Introduction  
 7.2 Continuous Duty  
 7.3 Standby  
 7.4 Peak Shaving  
    
8 Global Generator Sales Market, By Power Rating   
 8.1 Introduction  
 8.2 Below 10 kVA  
 8.3 10 kVA  
 8.4 15 kVA  
 8.5 20 kVA  
 8.6 25 kVA  
 8.7 30 kVA  
 8.8 40 kVA  
 8.9 50 kVA  
 8.10 60 kVA  
 8.11 75 kVA  
 8.12 100 kVA  
 8.13 125 kVA  
 8.14 150 kVA  
 8.15 200 kVA  
 8.16 250 kVA  
 8.17 300 kVA  
 8.18 350 kVA  
 8.19 400 kVA  
 8.20 500 kVA  
 8.21 Above 500 kVA  
    
9 Global Generator Sales Market, By Distribution Channel   
 9.1 Introduction  
 9.2 Direct Sales  
 9.3 E-commerce  
 9.4 OEM Sales  
 9.5 Rental Companies  
 9.6 Retail stores  
 9.7 Wholesale Distribution  
 9.8 Other Distribution Channels  
    
10 Global Generator Sales Market, By End User   
 10.1 Introduction  
 10.2 Industrial  
  10.2.1 Chemicals & Petrochemicals 
  10.2.2 Construction 
  10.2.3 Manufacturing 
  10.2.4 Marine 
  10.2.5 Mining & Metals 
  10.2.6 Oil & Gas 
  10.2.7 Utilities/Power Generation 
  10.2.8 Other Industries  
 10.3 Commercial  
  10.3.1 Data Centers 
  10.3.2 Healthcare 
  10.3.3 IT & Telecom 
  10.3.4 Other Commercial Properties 
 10.4 Residential  
    
11 Global Generator Sales Market, By Geography   
 11.1 Introduction  
 11.2 North America  
  11.2.1 US 
  11.2.2 Canada 
  11.2.3 Mexico 
 11.3 Europe  
  11.3.1 Germany 
  11.3.2 UK 
  11.3.3 Italy 
  11.3.4 France 
  11.3.5 Spain 
  11.3.6 Rest of Europe 
 11.4 Asia Pacific  
  11.4.1 Japan 
  11.4.2 China 
  11.4.3 India 
  11.4.4 Australia 
  11.4.5 New Zealand 
  11.4.6 South Korea 
  11.4.7 Rest of Asia Pacific 
 11.5 South America  
  11.5.1 Argentina 
  11.5.2 Brazil 
  11.5.3 Chile 
  11.5.4 Rest of South America 
 11.6 Middle East & Africa  
  11.6.1 Saudi Arabia 
  11.6.2 UAE 
  11.6.3 Qatar 
  11.6.4 South Africa 
  11.6.5 Rest of Middle East & Africa 
    
12 Key Developments   
 12.1 Agreements, Partnerships, Collaborations and Joint Ventures  
 12.2 Acquisitions & Mergers  
 12.3 New Product Launch  
 12.4 Expansions  
 12.5 Other Key Strategies  
    
13 Company Profiling   
 13.1 Aggreko plc  
 13.2 Atlas Copco AB  
 13.3 Briggs & Stratton Corporation  
 13.4 Caterpillar Inc.  
 13.5 Cummins Inc.  
 13.6 Doosan Corporation  
 13.7 FG Wilson  
 13.8 Generac Holdings Inc.  
 13.9 Himoinsa S.L.  
 13.10 Honda Motor Co., Ltd.  
 13.11 Ingersoll Rand Inc.  
 13.12 JCB Power Products Ltd.  
 13.13 Kirloskar Electric Company Limited  
 13.14 Kohler Co.  
 13.15 Mitsubishi Heavy Industries, Ltd.  
 13.16 MTU Onsite Energy GmbH  
 13.17 Wacker Neuson SE  
 13.18 Wärtsilä Corporation  
 13.19 Yanmar Co., Ltd.  

    
List of Tables    
1 Global Generator Sales Market Outlook, By Region (2021-2030) ($MN)   
2 Global Generator Sales Market Outlook, By Fuel Type (2021-2030) ($MN)   
3 Global Generator Sales Market Outlook, By Diesel (2021-2030) ($MN)   
4 Global Generator Sales Market Outlook, By Gasoline (2021-2030) ($MN)   
5 Global Generator Sales Market Outlook, By Propane (2021-2030) ($MN)   
6 Global Generator Sales Market Outlook, By Natural Gas (2021-2030) ($MN)   
7 Global Generator Sales Market Outlook, By Hydrogen (2021-2030) ($MN)   
8 Global Generator Sales Market Outlook, By Portability (2021-2030) ($MN)   
9 Global Generator Sales Market Outlook, By Portable (2021-2030) ($MN)   
10 Global Generator Sales Market Outlook, By Stationary (2021-2030) ($MN)   
11 Global Generator Sales Market Outlook, By Mode of Operation (2021-2030) ($MN)   
12 Global Generator Sales Market Outlook, By Continuous Duty (2021-2030) ($MN)   
13 Global Generator Sales Market Outlook, By Standby (2021-2030) ($MN)   
14 Global Generator Sales Market Outlook, By Peak Shaving (2021-2030) ($MN)   
15 Global Generator Sales Market Outlook, By Power Rating (2021-2030) ($MN)   
16 Global Generator Sales Market Outlook, By Below 10 kVA (2021-2030) ($MN)   
17 Global Generator Sales Market Outlook, By 10 kVA (2021-2030) ($MN)   
18 Global Generator Sales Market Outlook, By 15 kVA (2021-2030) ($MN)   
19 Global Generator Sales Market Outlook, By 20 kVA (2021-2030) ($MN)   
20 Global Generator Sales Market Outlook, By 25 kVA (2021-2030) ($MN)   
21 Global Generator Sales Market Outlook, By 30 kVA (2021-2030) ($MN)   
22 Global Generator Sales Market Outlook, By 40 kVA (2021-2030) ($MN)   
23 Global Generator Sales Market Outlook, By 50 kVA (2021-2030) ($MN)   
24 Global Generator Sales Market Outlook, By 60 kVA (2021-2030) ($MN)   
25 Global Generator Sales Market Outlook, By 75 kVA (2021-2030) ($MN)   
26 Global Generator Sales Market Outlook, By 100 kVA (2021-2030) ($MN)   
27 Global Generator Sales Market Outlook, By 125 kVA (2021-2030) ($MN)   
28 Global Generator Sales Market Outlook, By 150 kVA (2021-2030) ($MN)   
29 Global Generator Sales Market Outlook, By 200 kVA (2021-2030) ($MN)   
30 Global Generator Sales Market Outlook, By 250 kVA (2021-2030) ($MN)   
31 Global Generator Sales Market Outlook, By 300 kVA (2021-2030) ($MN)   
32 Global Generator Sales Market Outlook, By 350 kVA (2021-2030) ($MN)   
33 Global Generator Sales Market Outlook, By 400 kVA (2021-2030) ($MN)   
34 Global Generator Sales Market Outlook, By 500 kVA (2021-2030) ($MN)   
35 Global Generator Sales Market Outlook, By Above 500 kVA (2021-2030) ($MN)   
36 Global Generator Sales Market Outlook, By Distribution Channel (2021-2030) ($MN)   
37 Global Generator Sales Market Outlook, By Direct Sales (2021-2030) ($MN)   
38 Global Generator Sales Market Outlook, By E-commerce (2021-2030) ($MN)   
39 Global Generator Sales Market Outlook, By OEM Sales (2021-2030) ($MN)   
40 Global Generator Sales Market Outlook, By Rental Companies (2021-2030) ($MN)   
41 Global Generator Sales Market Outlook, By Retail stores (2021-2030) ($MN)   
42 Global Generator Sales Market Outlook, By Wholesale Distribution (2021-2030) ($MN)   
43 Global Generator Sales Market Outlook, By Other Distribution Channels (2021-2030) ($MN)   
44 Global Generator Sales Market Outlook, By End User (2021-2030) ($MN)   
45 Global Generator Sales Market Outlook, By Industrial (2021-2030) ($MN)   
46 Global Generator Sales Market Outlook, By Chemicals & Petrochemicals (2021-2030) ($MN)   
47 Global Generator Sales Market Outlook, By Construction (2021-2030) ($MN)   
48 Global Generator Sales Market Outlook, By Manufacturing (2021-2030) ($MN)   
49 Global Generator Sales Market Outlook, By Marine (2021-2030) ($MN)   
50 Global Generator Sales Market Outlook, By Mining & Metals (2021-2030) ($MN)   
51 Global Generator Sales Market Outlook, By Oil & Gas (2021-2030) ($MN)   
52 Global Generator Sales Market Outlook, By Utilities/Power Generation (2021-2030) ($MN)   
53 Global Generator Sales Market Outlook, By Other Industries  (2021-2030) ($MN)   
54 Global Generator Sales Market Outlook, By Commercial (2021-2030) ($MN)   
55 Global Generator Sales Market Outlook, By Data Centers (2021-2030) ($MN)   
56 Global Generator Sales Market Outlook, By Healthcare (2021-2030) ($MN)   
57 Global Generator Sales Market Outlook, By IT & Telecom (2021-2030) ($MN)   
58 Global Generator Sales Market Outlook, By Other Commercial Properties (2021-2030) ($MN)   
59 Global Generator Sales Market Outlook, By Residential (2021-2030) ($MN)   
    
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.   

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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