The global generator market was valued at $45.9 billion in 2022, and is projected to reach $74.1 billion by 2032, growing at a CAGR of 4.8% from 2023 to 2032.
An apparatus that transforms mechanical energy into electrical energy is a generator. It operates on the electromagnetic induction theory, which Michael Faraday discovered at the beginning of the 19th century. Powering homes, companies, and delivering electricity in isolated locations and during emergencies, generators are essential for producing electricity for a variety of uses. It is made up of various parts, including a prime mover, a motor, a stator, a magnetic field, and outside terminals.
Prime mover in a generator supplies the mechanical energy needed to power the generator. It is an engine, a turbine, or some other mechanism that has the ability to turn the rotor of the generator. The generator's rotor revolves while being surrounded by a magnetic field. It causes an electrical current to flow through the stator as it rotates. The generator's stator, which surrounds the rotor and is stationary, is a mechanical device. It has wire coils within, and as the rotor turns, the coils start to conduct electricity. A magnetic field is necessary for a generator to operate. This field is produced in some generators by permanent magnets and in others by running an electric current through a coil. Through output terminals, the generator's electrical current is transmitted to the outside world. To connect electrical appliances or a grid to receive the generated electricity, use these terminals.
Different applications employ generators as a backup to supply electricity during power shortages. For camping, outdoor gatherings, and emergency electricity, small, portable generators are used. In industries, large generators are utilized to power machinery and equipment. Electricity is produced on a big scale by generators inside power plants, which are frequently propelled by turbines. In isolated locations without access to the electrical grid, generators are used.
The generator market is studied on the basis of type, voltage rating, application, end-use industry, and region. By type, the generator market is divided into diesel, gas, propane, dual fuel, and hybrid. By voltage rating, the market is classified into below 100 kVA, 100kva to 350 kVA, 350 kVA to 1000 kVA, and above 1,000 kVA. By application, the market is categorized into backup power, continuous power, and peak shaving power. By end-use industry, the market is further segmented into residential, commercial, and industrial. By region, the generator market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa).
The major players operating in the generator industry are Caterpillar, General Electric, Kirloskar Oil Engines Ltd., Generac Holdings Inc., Kohler Co., AKSA POWER GENERATION, Su-kam, Cummins Inc., ABB Ltd., and Mitsubishi Electric. The companies adopted key strategies such as collaboration to increase their market share.
The drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain the intense competition in the industry
An apparatus that transforms mechanical energy into electrical energy is a generator. It operates on the electromagnetic induction theory, which Michael Faraday discovered at the beginning of the 19th century. Powering homes, companies, and delivering electricity in isolated locations and during emergencies, generators are essential for producing electricity for a variety of uses. It is made up of various parts, including a prime mover, a motor, a stator, a magnetic field, and outside terminals.
Prime mover in a generator supplies the mechanical energy needed to power the generator. It is an engine, a turbine, or some other mechanism that has the ability to turn the rotor of the generator. The generator's rotor revolves while being surrounded by a magnetic field. It causes an electrical current to flow through the stator as it rotates. The generator's stator, which surrounds the rotor and is stationary, is a mechanical device. It has wire coils within, and as the rotor turns, the coils start to conduct electricity. A magnetic field is necessary for a generator to operate. This field is produced in some generators by permanent magnets and in others by running an electric current through a coil. Through output terminals, the generator's electrical current is transmitted to the outside world. To connect electrical appliances or a grid to receive the generated electricity, use these terminals.
Different applications employ generators as a backup to supply electricity during power shortages. For camping, outdoor gatherings, and emergency electricity, small, portable generators are used. In industries, large generators are utilized to power machinery and equipment. Electricity is produced on a big scale by generators inside power plants, which are frequently propelled by turbines. In isolated locations without access to the electrical grid, generators are used.
The generator market is studied on the basis of type, voltage rating, application, end-use industry, and region. By type, the generator market is divided into diesel, gas, propane, dual fuel, and hybrid. By voltage rating, the market is classified into below 100 kVA, 100kva to 350 kVA, 350 kVA to 1000 kVA, and above 1,000 kVA. By application, the market is categorized into backup power, continuous power, and peak shaving power. By end-use industry, the market is further segmented into residential, commercial, and industrial. By region, the generator market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa).
The major players operating in the generator industry are Caterpillar, General Electric, Kirloskar Oil Engines Ltd., Generac Holdings Inc., Kohler Co., AKSA POWER GENERATION, Su-kam, Cummins Inc., ABB Ltd., and Mitsubishi Electric. The companies adopted key strategies such as collaboration to increase their market share.
The drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain the intense competition in the industry
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the generator market analysis from 2022 to 2032 to identify the prevailing generator market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the generator market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global generator market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Application
- Backup Power
- Continuous Power
- Peak Shaving Power
By End Use Industry
- Residential
- Commercial
- Industrial
By Type
- Diesel
- Gas
- Propane
- Dual Fuel
- Hybrid
By Voltage Rating
- Below 100 kVA
- 100kva to 350 kVA
- 350 kva to 1000 kVA
- Above 1,000 kVA
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Key Market Players
- Generac Holdings Inc.
- Kohler Co.
- Caterpillar
- ABB Ltd.
- General Electric
- Su-kam.
- AKSA POWER GENERATION
- Mitsubishi Electric
- Kirloskar Oil Engines Ltd
- Cummins Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: GENERATOR MARKET, BY TYPE
CHAPTER 5: GENERATOR MARKET, BY VOLTAGE RATING
CHAPTER 6: GENERATOR MARKET, BY APPLICATION
CHAPTER 7: GENERATOR MARKET, BY END USE INDUSTRY
CHAPTER 8: GENERATOR MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the generator market was valued at $45.9 billion in 2022, and is estimated to reach $74.1 billion by 2032, growing at a CAGR of 4.8% from 2023 to 2032.A generator is a machine that transforms mechanical energy into electrical energy. It is also sometimes referred to as an electrical generator. By applying the concepts of electromagnetic induction, it functions as an electrical power source. In many applications, generators are indispensable because they enable power generation in remote or off-grid areas, supply electricity in the event that grid power is unavailable, and serve as backup power sources. Generators are available in a variety of shapes and sizes, from little portable models for use as a home backup power source to massive industrial models utilized in vital facilities like data centers and power plants. The intended use, fuel supply, and precise power needs all influence the generator selection. When a reliable power source is needed, such as in rural areas or during power outages, generators are crucial for supplying electricity.
The generator market is studied on the basis of type, voltage rating, application, end-use industry, and region. By type, the generator market is divided into diesel, gas, propane, dual fuel, and hybrid. Based on the voltage rating, the market is divided into below 100 kVA, 100kVA to 350 kVA, 350 kVA to 1000 kVA, and above 1,000 kVA. By application, the market is categorized into backup power, continuous power, and peak shaving power. By end-use industry, the market is further segmented into residential, commercial, and industrial. By region, the generator market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa). The major players operating in the generator industry are Caterpillar, General Electric, Kirloskar Oil Engines Ltd., Generac Holdings Inc., Kohler Co., AKSA POWER GENERATION, Su-kam, Cummins Inc., ABB Ltd., and Mitsubishi Electric. The companies adopted key strategies such as collaboration to increase their market share.
Some of the prominent standards in the industry are follwoing:
IEC 60950: The IEC 60950 standard sets safety requirements for information technology equipment, including power supplies and generators used in data centers and IT environments.NFPA 110: The National Fire Protection Association (NFPA) 110 is a standard for emergency and standby power systems. It covers the installation, maintenance, and testing of generators in emergency power applications.
ISO 14001: While not specific to generators, ISO 14001 is an environmental management standard. It encourages organizations to consider the environmental impact of their operations, including the use of generators, and implement measures to reduce environmental harm.
ISO 50001: ISO 50001 focuses on energy management, including the efficient use of energy resources. Organizations using generators apply these principles to improve energy efficiency and reduce environmental impact.
The drivers, restraints, and opportunities are explained in the report to better understand the generator market scope. This report further highlights the key generator market trends and areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain the intense competition in the industry.
The report offers a thorough analysis of Generator Market with detailed study of various aspects of the market such as market dynamics, vital segments, major geographies, key players, and competitive landscape. The report provides a clear picture of the current market situation and future trends of the Generator Market based on the impact of various market dynamics and vital forces influencing the market. The drivers and opportunities in the market contributing to the market growth are acknowledged in the market dynamics. Besides, challenges and restraints that hold potential to hamper the market growth are also premeditated in the Generator Market. Porter's five forces analysis is delivered through the report which precisely highlights the effects of key forces on the Generator Market. The report offers market size and estimations analyzing Generator Market through various segments.
In addition, the report includes geographical market analysis of these segments. Each segment entailed in the report is studied at regional and country level as well to provide complete coverage of Generator Market. The report categorizes the Generator Market into four major geographies including North America, Europe, Asia-Pacific, and LAMEA. These geographies are further sub-categorized into countries to cover Generator Market scenario across in respective regions. Furthermore, the report covers competitive scenario of the Generator Market. The key players operating in the Generator Market are studied in the report to understand their current market position and competitive strengths in the industry. The report profiles 10 key companies. Moreover, the company profiles include various data-points such as company overview, company executives, recent financials of the company, major growth strategies espoused by company, new initiatives and advancements by company to sustain and mend their position in the Generator Market, and others.
Key Findings Of The Study
By type, the diesel segment is projected to grow at the highest CAGR of approximately 5.2%, in terms of during the generator market forecast period.By voltage rating, the 350 kVA to 1000 kVA segment is projected to grow at the highest CAGR, in terms of during the generator market forecast period.
Depending on application, the continuous power segment dominated the generator market share in 2022.
By end-use industry, the industrial segment dominated the generator market growth at a CAGR of 5.0% in 2022.
By region, Asia-Pacific dominated the generator market size and is expected to grow at a high CAGR during the forecast period.
Companies Mentioned
- Generac Holdings Inc.
- Kohler Co.
- Caterpillar
- ABB Ltd.
- General Electric
- Su-kam.
- AKSA POWER GENERATION
- Mitsubishi Electric
- Kirloskar Oil Engines Ltd
- Cummins Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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