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Global Generator Market Market Report 2017 to 2026: Analysis, Size, Share, Growth, Demand, Trends and Forecast
Fact.MR
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A new report by Fact.MR has slated that the global generator market will ride on an average 4.5% CAGR, in terms of volume, during the forecast period (2017-2026). In terms of value, sales of generator across the globe are poised to reach approximately US$ 39,000 Mn in revenues by 2026-end.
Globally, generators are benefitting with escalating concerns regarding energy security, which in turn has led prospective generator end-users seek ways for operating more efficiently and safely. In emerging nations worldwide, regular power outages have hindered smooth business operations, and implementation of generators has become the key for these entities for functioning throughout a power outage. This has further enabled businesses to save on operating costs and energy. Additionally, surging voltage fluctuations & power cuts have been adversely affecting operations of industries, which in turn has prompted adoption of the reliable power backup equipment. For boosting their sales and acquire a competitive edge, manufacturers of generators are leveraging this requirement of industries for reducing their operations downtime because of power outage. One of the most significant challenges hindering the market expansion is mounting regulations on use of diesel generators. With growing emphasis on green technologies and reduction of GHG emissions, diesel-powered generators may witness a decline in demand. Focus on using renewable energy resources such as wind and solar energy will further create barriers to adoption of generators in the near future.
North America will Continue to Dominate Global Generator Market
There has been a substantially high demand for generators in North America for use in commercial establishments and industries, for reducing operation downtimes and increasing productivity. In addition, robust economic vigour of the region further facilitates the commercial, industrial and residential sector in adoption of this expensive equipment. North America will continue to dominate the global generator market, in terms of revenues. Asia-Pacific excluding Japan will remain fastest expanding market for generator, in terms of value.
Rapid industrialization worldwide is stoking demand for power supply. Industries are increasingly adopting power storage and supply equipment such as generators, in order to sustain themselves during power cuts fuelled by supply demand unbalance and poor grid maintenance. In terms of value, industrial end use of generators will account for the largest share of the global market, followed by commercial end use.
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Generators with capacity of above 1000 kVA capacity will remain sought-after in the market, with sales estimated to account for over two-fifth revenue share of the market during the forecast period. Sales of generators with above 1000 kVA and 350-1000 kVA capacity are projected to witness a parallel rise through 2026, in terms of value.
Based on fuel, diesel generators will remain preferred among end-users across the globe. Sales of diesel generators will reach nearly US$ 30,000 Mn in revenues by 2026-end. This number is significantly higher than those likely to be gained from sales of gas generators.
Competition Tracking
Key market players identified by Fact.MR’s report include Yamaha Motor Corporation, SDMO, Mitsubishi Heavy Industries Ltd., Kubota Corporation, Kirloskar Oil Engines Limited, General Electric Corporation, Doosan Corporation, Cooper Corporation, and AKSA Power Generation.
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Industrial Goods Market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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