Reports
Global Generators Market Share, Size, Trends, Forecast: By Type: AC Motors, DC Motors; By Power Generation: Thermal, Hydro, Wind, Portable, Standby, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Generators Market Outlook
The global generator market size reached a value of around USD 65.97 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 4.80% to reach USD 112.59 billion by 2032.
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The generator market has seen an increase in sales demand due to the rise in the number of data centres, businesses, hospitals, and other commercial complexes. Over the forecast period, the market is anticipated to develop significantly. Emerging nations are improving their power networks, to be able to supply energy reliably to consumer and industrial end-users. Accelerating economic growth and technological advancements are further increasing the demand for power and generators. As a result of growing industrial expansion, high production levels, and rising investment, the demand for high-capacity industrial generators is increasing. Silent generators are immensely popular as they can operate in close proximity to workers without causing any noise disturbance, which is driving the silent generator market growth.
AC Motors Segment Holds a Significant Share in the Global Generators Market
According to generator market analysis, AC motors offer significant advantages, which make them ideal for an industrial setting. These advantages include lower power demand for start-up, improved control over acceleration and current levels, broader customisability, and enhanced durability, longevity, and efficiency. In addition to this, the growing demand for AC motors in appliances such as compressors, conveyors, HVAC equipment, and transportation equipment, among others is anticipated to increase the generator market share in the forecast period.
The Asia Pacific Accounts for a Significant Share in the Market
The rising demand for generators in the commercial sector in the region, owing to the rapid urbanisation, increasing energy demands, and strong foot hold of major market players, is driving the market growth in the region. Additionally, the expansion of the manufacturing sector in countries like India due to favourable government policies and the thriving economy is likely to propel the demand for generators in the forecast period. For instance, the Make in India initiative by the Indian government is anticipated to boost the sales of generators across the country, thus, aiding the market growth in the Asia Pacific. Meanwhile, in North America, the U.S. generator market size is likely to be affected by the growing adoption of bi-fuel generators by manufacturers to target high operational costs and carbon emissions.
Generator: Market Segmentation
Generator is defined as an electrical equipment which is used for the transmission of power lines to domestic, commercial, automotive, military and defence, aerospace, and industrial sectors by converting mechanical energy into electricity. This mechanical power is usually obtained by rotating a shaft, which is multiplied by rotational or angular velocity.
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Based on type, the market can be bifurcated into:
- AC Motors
- DC Motors
On the basis of power generation, the market is segmented into:
- Thermal
- Hydro
- Wind
- Portable
- Standby
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Applications of Generators in Various End Use Industries to Boost the Growth of the Generators Market
The rising applications of generators in various end use industries, including military and defence, automotive, commercial, industrial, oil and gas, aerospace, and construction, among others, are among the key generator market trends. Generators are capable of producing the power required for functioning of equipment used in the above industries, such as appliances, compressors, and fans, among others. The growing demand for HVAC equipment across the world is likely to provide impetus to the market in the forecast period. In addition to this, the growing popularity of standby generators in the residential sector is anticipated to augment the home generator market. Furthermore, the rising demand for diesel generators in the mining industry in emerging economies is likely to be a major factor driving the market expansion. Hence, the global generators market is anticipated to attain a significant growth in the forecast period.
Key Players in the Global Generators Market
The report gives a detailed analysis of the following key players in the global generators market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- ABB Ltd
- Siemens AG
- Nidec Corporation
- Cummins Inc.
- Caterpillar Inc.
- Mitsubishi Heavy Industries, Ltd.
- Atlas Copco
- Doosan Corporation
- Kohler Co.
- Multiquip Inc.
- Wacker Neuson SE
- Aggreko plc
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Power Generation |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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 Generators Market Analysis
8.1 Key Industry Highlights
8.2 Global Generators Historical Market (2018-2023)
8.3 Global Generators Market Forecast (2024-2032)
8.4 Global Generators Market by Type
8.4.1 AC Motors
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 DC Motors
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Generators Market by Power Generation
8.5.1 Thermal
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Hydro
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Wind
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Portable
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Standby
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Generators Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Generators Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Generators Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Generators Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Generators Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Generators Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
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 ABB Ltd
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 Siemens AG
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 Nidec Corporation
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 Cummins Inc.
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 Caterpillar Inc.
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 Mitsubishi Heavy Industries, Ltd.
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 Atlas Copco
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 Doosan Corporation
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Kohler Co.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Multiquip Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Wacker Neuson SE
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Aggreko plc
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Generators Market: Key Industry Highlights, 2018 and 2032
2. Global Generators Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Generators Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Generators Historical Market: Breakup by Power Generation (USD Billion), 2018-2023
5. Global Generators Market Forecast: Breakup by Power Generation (USD Billion), 2024-2032
6. Global Generators Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Generators Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Generators Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Generators Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Generators Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Generators Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Generators Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Generators Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Generators Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Generators Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Generators Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Generators Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Generators Market Structure
Key Questions Answered in the Report
In 2023, the global generators market attained a value of nearly USD 65.97 billion.
The market is estimated to grow at a CAGR of 4.80% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 112.59 billion by 2032.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers expected to aid market growth are the rising applications of generators in various end use industries, rapid urbanisation and infrastructure development, and thriving manufacturing sector.
The key market trends guiding the growth of the market include the growing technological advancements and the increasing energy demands.
AC motors and DC motors are the major types of generators in the market.
The market, based on power generation, is segmented into thermal, hydro, wind, portable, and standby among others.
The major players in the market are ABB Ltd, Siemens AG, Nidec Corporation, Cummins Inc., Caterpillar Inc., Mitsubishi Heavy Industries, Ltd., and Atlas Copco, Doosan Corporation, Kohler Co., Multiquip Inc., Wacker Neuson SE, and Aggreko plc, among others.
Analyst Review
The global generators market attained a value of USD 65.97 billion in 2023, driven by the rising applications of the product in the automotive, aerospace, and other industries. Aided by the rising investments by key players to enhance the manufacturing capabilities, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 4.80%. The market is projected to reach USD 112.59 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. Based on type, the market is divided into AC motors and DC motors. On the basis of power generation, the market is divided into thermal, hydro, wind, portable, and standby among others. The major regional markets for generators are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the global market include ABB Ltd, Siemens AG, Nidec Corporation, Cummins Inc., Caterpillar Inc., Mitsubishi Heavy Industries, Ltd., Atlas Copco, Doosan Corporation, Kohler Co., Multiquip Inc., Wacker Neuson SE, and Aggreko plc, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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