Press release
Electric Generators Market to Record an Exponential CAGR by 2026
In many parts of the developing world, providing electricity access for all remains a serious challenge. To counter electricity shortage, electric generators are considerably used in every part of the world. Growing economies, burgeoning and urbanizing middle classes across the prominent regions provide an ideal platform for a promising growth outlook. Electric generators are utilized in residential, commercial, and industrial applications as a backup power source. They are offered on the basis of fuel type, notably diesel and natural gas. In the forthcoming years, the demand for natural gas electric generators is pegged to outpace that for diesel-based electric generators against the backdrop of growing environmental concerns. In addition, for residential purposes, standby and portable electric generators are gaining traction in the global electric generators market.
Subsequently, the aim of the study is to analyze the most recent trends and dynamics in the global and regional electric generators market.
Electric Generators Market: Market Dynamics
The regulatory environment in North America is expected to surge the demand for gaseous fueled electric generators. Electrical grids in many parts of the world have been experiencing several challenges over the past few years. Aging power transmission infrastructure and the increasing global demand for electricity have augmented the sales of electric generators in order to fulfill the power demand. Spurring urbanization has put pressure on existing facilities, due to which governments and private companies have increased power disruptions. Consequently, the population in cities is expected to adopt residential electric generators. In the near term, the electric generators market is set to witness an upward growth trajectory with a significant rate.
The increased use of diesel-powered electric generators across the world, notably in Asian countries, both at an industrial and a residential level, has worsened regional air pollution. Therefore, governments have started implementing stringent laws and regulations to curb the heightened use of diesel-powered electric generators. In the coming years, this will decelerate the use of electric generators. In some parts of the world, the declining cost of renewable sources of energy is proliferating new opportunities to reduce reliance on costly electric generators, which is anticipated to impede the growth of the electric generators market.
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Companies in the electric generators market have developed an array of strategies to enhance penetration in the residential electric generators market. These include increasing awareness, affordability and availability, optimizing innovative sales and improving marketing techniques.
Electric Generators Market: Market Segmentation
The global electric generators market can be segmented on the basis of application, power rating, fuel type, and region.
On the basis of application, the global electric generators market has been segmented as:
Residential
Standby
Portable
Commercial
Industrial
On the basis of power rating, the global electric generators market has been segmented as:
Less than 60 kW
60 kW – 300 kW
300 kW – 1 MW
Greater than 1 MW
On the basis of fuel type, the global electric generators market has been segmented as:
Diesel
Natural Gas
Gasoline and Other Fuels
Electric Generators Market: Regional Outlook
Geographic location and low population densities of villages with low access to electricity make certain regions lucrative for the pragmatic growth of the electric generators market. Aging and underinvested electric grids, increasing power outages and favorable demographics are some of the long-term growth propagators in the electric generators market. Furthermore, the regulatory environment regarding natural gas is driving the demand for gaseous-fueled electric generators in North America. Despite the increase in electricity generation in India and SEAP, these regions face a structural shortage of power. For residential consumers, this constraint is most evident during periods of peak demand, which has compelled households to invest in electric generators as back-up. In remote areas of ASEAN, small diesel-powered electric generators continue to play a key albeit diminishing role in providing electricity.
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Electric Generators Market: Market Participants
Examples of some of the key market participants in the global electric generators market discerned across the value chain include:
Generac Power Systems
Kohler Co.
Caterpillar Inc.
Atlas Copco
Kirloskar Group
Cummins Inc.
Siemens AG
Briggs & Stratton Corporation
HIMOINSA S.L.
GRUPEL S.A.
The electric generators market research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The electric generators research report provides analysis and information according to market segments such as geographies, application, and industry.
The electric generators market report covers exhaust analysis on:
Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Electric Generators Regional Market Analysis Includes:
North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The electric generators market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Electric Generators Market Report Highlights:
Changing market dynamics in the industry
In-depth market segmentation
Historical, current, and projected market size in terms of volume and value
Recent industry trends and developments
Electric Generators Market - Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on electric generators market performance
Must-have information for market players to sustain and enhance their market footprint
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