Demand For Diesel Generators Is Expected To Increase Steadily Over The Coming Years

About the Report
Converting mechanical energy using steam, gas, wind, diesel, and hydropower, into electrical energy, generators are handy as a backup, and are used in both, industries as well as in households across regions.

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There is high demand for generators in rural areas and regions where power outages and fluctuations are frequent. In its latest report on the global generators market, ESOMAR-certified market research and consulting firm Fact.MR analyses key factors that will fuel the adoption of generators over the decade.

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Historical and Future Outlook
Generators have become crucial for power backup, owing to the power outages that take place across countries. High need for reliable and continuous power supply has led to a rise in the sales of generators across the globe. All commercial operations rely on generator backup for seamless operations, and this is only slated to rise on the back of rapid industrialization. Even residential areas rely on generators for power backup on a large scale.

Growth of data centers, hospitals, industries, and other commercial facilities has led to higher sales, and the market has been expanding at a steady CAGR of around 5% in recent years. North America has dominated this space for more than a decade now, mainly due to it being a high-income country, which allows the affordability of generators more easily that other regions.

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Global Generator Market Segmentation by Category
Application:

Stationary Generators
Portable Generators
Fuel:
Diesel Generators
Gas Generators

End Use:

Residential Generators
Commercial Generators
Industrial Generators
Others

Capacity:

0-100 kVA
100-350 kVA
350-1000kVA
Above 1000kVA

Region:
North America
Latin America
APEJ
Europe
Japan
MEA

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Competitive Landscape
The competitive landscape for generators is replete with acquisitions by key players. Asia Pacific is a fast-growing market for generators, excluding Japan. With top generator manufacturers in North America, the region is still the most important player in the generator space, globally. Overall, the global market for generators is fragmented in nature.

Key players operating in the global generator market are:

Cummins Inc
Yamaha Motor Corporation
SDMO
Mitsubishi Heavy Industries Ltd.
Kubota Corporation
Kirloskar Oil Engines Limited
General Electric Corporation
Doosan Corporation
Caterpillar Inc
Cooper Corporation
AKSA Power Generation

Why are Diesel Generators Still Ruling This Space?
In 2019, diesel generators held over 70% of the overall revenue share in the global generator market. Introduction of stringent emission norms is encouraging the adoption of clean units. However, highly flexible functioning and their ability to provide reliable performance, together with longer engine lifespan, will facilitate sustained demand for diesel generator sets.

The advent of hybrid technologies and natural gas-fuelled gen sets may hamper for these units to some extent in future, but diesel units would still account for a majority of the existing market share.

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