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Major participants in generator market include American Honda Motor, Cummins, General Electric, Yamaha and Perkins Engines, Siemens AG, Generac Power Systems, ABB and Hyundai Power Equipment
Increasing demand for off grid infrastructure in remote areas will propel global generator market share. In sub-Saharan Africa, more than 600 million people live without electricity access. Rising concerns for environmental pollution coupled with strict regulatory framework may hamper the growth of global generator market. Increased government regulations concerning with environmental pollution may also among the major restraint. Industry has witnessed several merger, acquisition and joint venture strategies to enhance their business presence. In January 2017, Generac Power Systems has acquired Motor tech, a global supplier of gaseous fueled generators to expand their business.
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Based on type, generator market can be segmented into single phase and three phase generators. Single phase generators is expected to witness growth owing to its wide application in small industries and residential sector. Three phase generators market is anticipated to witness growth on account of rapid industrialization along with increasing electricity demand. It finds wide application in commercial sector.
Based on fuel, generator market can be segmented into gasoline, natural gas, propane and diesel. Diesel generator may will witness significant growth due to excellent engine life, higher fire and personal safety features. Ease fuel availability may further complement the industry outlook. It finds application in numerous fields including aviation, healthcare, datacenters and marine.
Based on applications, generator market can be segmented into commercial, military, residential, industrial, marine and others. Industrial and commercial segment is anticipated to experience significant growth owing to increasing investment in infrastructure sector by Asia, Africa and Latin America. In 2016, Argentina announced to spend USD 26 billion to revamp its power sector.
The U.S. generator market size will witness significant growth owing to increased industrial and military spending as the U.S. recovers from global financial crisis. In 2015, the U.S. spent around USD 600 billion on military. Generators find wide ranging applications in military including refrigeration facilities, tent cooling and shore power. Increased industrial spending will further boost industry growth.
Europe generator market is expected to witness substantial growth on account of increasing emphasis towards renewable energy technology adoption. Intermittent availability of renewable resources including wind and solar has led the demand for generator as power backup system. Increased adoption of solar energy in countries including UK, Germany and France will boost industry outlook.
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Latin America generator market is set to grow appreciably owing to growing electricity demand and supply continuity concerns. Per capita electricity consumption in Brazil reached 2.58 MWh in 2014 from 2.53 MWh in 2012. Government initiatives pertaining to effective energy resources utilization will further thrust the generator industry over the forecast timeframe.
Increasing investment in infrastructure sector will positively encourage the Asia Pacific generator market size over the forecast timeframe. In 2016, China government spending increased by 11.3% from the 2015 in various sectors including railways, industries, aviation and power.
Africa generator market share is expected to witness considerable growth owing to increasing electricity demand along with increasing power infrastructure demand. Many countries in Africa have lack of power infrastructure to provide electricity in remote areas. Tanzania, South Sudan and Central African Republic have electricity access rate of less than 12%. Small portable generators are instrumental in fulfilling electricity requirement in these areas. Generators also provide backup power in case of power outages. Increasing infrastructure investment will stimulate global generator market share over forecast period.
Major participants in generator market include American Honda Motor, Cummins, General Electric, Yamaha and Perkins Engines, Siemens AG, Generac Power Systems, ABB and Hyundai Power Equipment.
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