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Generator Sales Market

Global Generator Sales Market Share, Size, Trends, Analysis, Forecast: By Fuel Type: Diesel, Gas, Others; By Power Rating: Below 75 kVA, 75-375 kVA, 376-750 kVA, Above 750 kVA; By Application: Prime and Continuous, Others; By End-User; Regional Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028

Global Generator Sales Market Outlook

The global generator sales market size has reached a value of more than USD 60.36 billion in 2021. The market is expected to grow at a CAGR of 4.90% between 2023 and 2028 to reach a value of USD 80.15 billion by 2027.

 

Global Generator Sales Market Trends

Generators are machines that convert mechanical energy into electrical energy as the output over the power lines. Mechanical energy is provided through an outside source, like internal combustion engines, gas turbines, water turbines, and steam turbines. The mechanical energy is then converted to electricity with the help of a generator.

 

generator sales market

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The following trends are driving the growth of the market:

Rapidly Growing Manufacturing Industry

Emerging nations are going through rapid industrialisation and governments are increasing the development of the manufacturing sector as it has played a significant role in economic growth, especially in the Asia Pacific region.

 

Increasing Demand for Backup Power Supply

The rapid growth of industries and increasing urbanisation has led to increased consumption. This situation has propelled businesses and people to stop relying on power grids alone and adopt generators for uninterrupted power supply.

 

Rural Area Electrification

Governments around the world have initiated plans to provide electricity to rural areas as a major portion of the world’s population resides in rural areas, away from access to the main grid. 

 

Global Generator Sales Market Opportunities

Rising Demand for Hybrid Generators

With research and development for new and innovative fuel sources as an alternative that can replace conventional fossil fuels, manufacturers have been propelled to launch innovative generators such as hybrid generators and bifuel. These generators utilise two sources of energy to supply electricity depending on the need.

 

Global Generator Sales Market Challenges

Development of Renewable Energy Sources and Energy Storage Technology

With increasing environmental awareness, renewable energy sources and energy storage technologies are increasingly being adopted by countries. Investment in energy storage technologies is also increasing to meet the growing energy demands.

 

Global Generator Sales Market Analysis

 

generator sales market by segments

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Based on fuel type, the market can be segmented into diesel and gas, among others. Based on the power rating, it can be bifurcated into below 75kVA, 75-375 kVA, 376-750 kVA, and above 750 kVA. Based on application, the market segments include prime and continuous, standby, and peak shaving. Based on end-user, the market divisions include industrial, commercial, and residential.

 

The regional markets for the generator sales market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. 

 

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global generator sales market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.

 

  • Caterpillar Inc.
  • Generac Power Systems, Inc.
  • Cummins Inc.
  • WeiChai Holdings Group Co., Ltd.
  • Mitsubishi Heavy Industries, Ltd.
  • Siemens AG
  • ABB Ltd.
  • Others

 

Fuel Types in Generators

Based on fuel type, the market can be divided into diesel and gas, among others. Among these segments, diesel holds the largest share in the market. This can be attributed to diesel generators as they are easy to install and operate compared to gas gensets. Diesel generators are much more durable and easily available in the market.

 

Gas generators are rapidly growing in adoption due to the increasing environmental awareness and the increasing efforts of countries to reduce greenhouse gases and carbon emissions.

 

End-Users of Generators

Based on end-users, the market is bifurcated into industrial, commercial, and residential. The industrial segment holds the largest market share, with the residential sector growing rapidly.

 

The industrial segment is experiencing significant demand, especially in the Asia-Pacific region, owing to rapid industrialisation. Manufacturers are also increasing their development of generators to support industrial operations as these generators will help with power supply during an event of failure.

 

generator sales market by region

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Competitive Landscape

Caterpillar Inc. is one of the United States fortune 100 corporations that are engaged in designing, developing, and selling machinery, engines, financial products, and insurance to customers. It is the world’s most known and largest manufacturer of construction and mining equipment. Their products include diesel and natural gas engines, and industrial gas turbines.

 

Generac Power Systems Inc. is one of the Fortune 1000 companies in the United States, founded in 1959. It is a leading manufacturer of backup power generation products for industrial, commercial, and residential backup generators. Their products for business and industry sectors include industrial generators, mobile generators, light towers, heaters, and pumps. Their home power products include home backup power, clean energy, portable generators, and pressure washers, among others.

 

Cummins Inc. is a multinational company specialising in manufacturing and designing diesel and alternative fuel engines and generators, and related components and technology. Their power generation products and services are utilised in various sectors such as agriculture, commercial, data centres, mining, and marine, among many other sectors.

 

Other market players include WeiChai Holdings Group Co., Ltd., Mitsubishi Heavy Industries, Ltd., Siemens AG, and ABB Ltd., among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Fuel Type
  • Power Rating
  • Application
  • End-User
  • Region
Breakup by Fuel Type
  • Diesel
  • Gas
  • Others
Breakup by Power Rating
  • Below 75 kVA
  • 75-375 kVA
  • 376-750 kVA
  • Above 750 kVA
Breakup by Application
  • Prime and Continuous
  • Standby
  • Peak Shaving
Breakup by End-User
  • Industrial
  • Commercial
  • Residential
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Caterpillar Inc.
  • Generac Power Systems, Inc.
  • Cummins Inc.
  • WeiChai Holdings Group Co., Ltd.
  • Mitsubishi Heavy Industries, Ltd.
  • Siemens AG
  • ABB Ltd.
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Generator Sales Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Generator Sales Historical Market (2018-2022) 
    8.3    Global Generator Sales Market Forecast (2023-2028)
    8.4    Global Generator Sales Market by Fuel Type
        8.4.1    Diesel
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Gas
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Others
    8.5    Global Generator Sales Market by Power Rating
        8.5.1    Below 75 kVA
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    75-375 kVA
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    376-750 kVA
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
        8.5.4    Above 750 kVA
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2018-2022)
            8.5.4.3    Forecast Trend (2023-2028)
    8.6    Global Generator Sales Market by Application
        8.6.1    Prime and Continuous
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Standby
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Peak Shaving
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
    8.7    Global Generator Sales Market by End-User
        8.7.1    Industrial
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
            8.7.1.4    Breakup by Type
                8.7.1.4.1    Oil and Gas
                8.7.1.4.2    Chemicals and Petrochemicals
                8.7.1.4.3    Utilities/Power Generation
                8.7.1.4.4    Manufacturing
                8.7.1.4.5    Marine
                8.7.1.4.6    Construction
                8.7.1.4.7    Others
        8.7.2    Commercial
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Residential
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022)
            8.7.3.3    Forecast Trend (2023-2028)
    8.8    Global Generator Sales Market by Region
        8.8.1    North America
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2022) 
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Europe
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022) 
            8.8.2.3    Forecast Trend (2023-2028)
        8.8.3    Asia Pacific
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2022) 
            8.8.3.3    Forecast Trend (2023-2028)
        8.8.4    Latin America
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2018-2022) 
            8.8.4.3    Forecast Trend (2023-2028)
        8.8.5    Middle East and Africa
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2018-2022) 
            8.8.5.3    Forecast Trend (2023-2028)
9    North America Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Caterpillar Inc.
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Generac Power Systems, Inc.
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Cummins Inc.
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    WeiChai Holdings Group Co., Ltd.
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Mitsubishi Heavy Industries, Ltd.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Siemens AG
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    ABB Ltd.
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Generator Sales Market: Key Industry Highlights, 2017 and 2021
2.    Global Generator Sales Historical Market: Breakup by Fuel Type (USD Billion), 2018-2022
3.    Global Generator Sales Market Forecast: Breakup by Fuel Type (USD Billion), 2023-2028
4.    Global Generator Sales Historical Market: Breakup by Power Rating (USD Billion), 2018-2022
5.    Global Generator Sales Market Forecast: Breakup by Power Rating (USD Billion), 2023-2028
6.    Global Generator Sales Historical Market: Breakup by Application (USD Billion), 2018-2022
7.    Global Generator Sales Market Forecast: Breakup by Application (USD Billion), 2023-2028
8.    Global Generator Sales Historical Market: Breakup by End Use (USD Billion), 2018-2022
9.    Global Generator Sales Market Forecast: Breakup by End Use (USD Billion), 2023-2028
10.    Global Generator Sales Historical Market: Breakup by Region (USD Billion), 2018-2022
11.    Global Generator Sales Market Forecast: Breakup by Region (USD Billion), 2023-2028
12.    North America Generator Sales Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    North America Generator Sales Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Europe Generator Sales Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Europe Generator Sales Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Asia Pacific Generator Sales Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Asia Pacific Generator Sales Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Latin America Generator Sales Historical Market: Breakup by Country (USD Billion), 2018-2022
19.    Latin America Generator Sales Market Forecast: Breakup by Country (USD Billion), 2023-2028
20.    Middle East and Africa Generator Sales Historical Market: Breakup by Country (USD Billion), 2018-2022
21.    Middle East and Africa Generator Sales Market Forecast: Breakup by Country (USD Billion), 2023-2028
22.    Global Generator Sales Market Structure

Key Questions Answered in the Report

What was the market size of the generator sales market in 2021?

In 2021, the global market for generator sales reached a size of USD 60.36 billion.

What will be the generator sales market growth rate during 2023-2028?

The market is expected to grow at a CAGR of 4.90% during the period 2023-2028.

What will be the market value in 2027?

The generator sales market is expected to reach a value of USD 80.15 billion.

Which major generator sales market drivers are propelling the market growth?

The market is driven by the increasing demand for energy for residential and industrial purposes and the rising demand for backup power services in the manufacturing industry.

What are the key trends in the global generator sales market?

The increasing demand for alternative fuel-based generators and the rising demand for hybrid generators are key trends in the market.

What are the major regional markets?

The regional markets for the global generator sales market include North America, Europe, the Asia Pacific, Latin America, Middle East and Africa.

What are the fuel types available in the market?

The different fuel type includes diesel and gas, among others.

What are the power ratings in the market?

The power ratings in the market include 75kVA, 75-375 kVA, 376-750 kVA, and above 750 kVA.

What are the applications in the market?

The applications available in the market include prime and continuous, standby, and peak shaving.

What are the end-uses of generator sales in the market?

The different end-uses of generator sales include industrial, commercial, and residential.

Who are the key global generator sales market players, according to the report?

The key players in the market include Caterpillar Inc., Generac Power Systems, Inc., Cummins Inc., WeiChai Holdings Group Co., Ltd., Mitsubishi Heavy Industries, Ltd., Siemens AG, and ABB Ltd, among others.

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Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

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We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

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We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

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