Generator Sales Market Size To Reach US$ 27.07 Billion by 2027 | IMARC Group

According to IMARC Group's latest report, titled "Generator Sales Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.' the global generator market reached a value of US$ 19.30 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 27.07 Billion by 2027, exhibiting at a CAGR of 5.3% during 2022-2027.

A generator represents a machine that converts mechanical energy to provide an optimum amount of electrical power. It usually comprises an engine, charger, central control, alternator, voltage regulator, fuel system, main assembly, cooling and exhaust system, etc. In line with this, a generator is widely used in commercial and residential areas to offer emergency power and survive prolonged power outages. Presently, leading manufacturers are introducing advanced generators that automatically switch on when the local power grid turns off. Consequently, they are gaining extensive traction across countries.

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Generator Sales Market Trends: 

The increasing number of extreme weather events and natural disasters, such as earthquakes, hurricanes, tornadoes, tsunamis, etc., causing blackouts is primarily driving the generator market. Additionally, the growing construction activities that generally require high electric power to run equipment and machinery are bolstering the global market. Besides this, the widespread adoption of home generators, especially in rural areas, to address power shortages and ensure an uninterrupted power supply is acting as another significant growth-inducing factor. Moreover, the rising popularity of natural gas generators in industrial sites to survive power overloads and the elevating consumer environmental concerns are also augmenting the market growth. Apart from this, the escalating demand for portable generators in residential applications, owing to the inflating urbanization levels, is positively influencing the global market. Furthermore, the introduction of commercial variants that are employed as emergency power backups in the healthcare industry to keep life support machines and other necessary medical tools working is expected to fuel the generator market in the coming years.

Generator Sales Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the generator market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

ABB Ltd.
Atlas Copco AB
Bharat Heavy Electricals Limited
Briggs & Stratton Corporation
Caterpillar Inc.
Cummins Inc.
Generac Power Systems Inc.
General Electric Company
Kohler Co.
Mitsubishi Heavy Industries Ltd.
Rolls-Royce plc
Siemens AG
Toshiba Corporation
Wacker Neuson SE
Wärtsilä Corporation.

Key Market Segmentation:

The report has segmented the global generator market on the basis of fuel type, power rating, application, end user and region

Breakup by Fuel Type:

Diesel
Gas
Others

Breakup by Power Rating:

Below 75 kVA
75-375 kVA
375-750 kVA
Above 750 kVA

Breakup by Application:

Continuous Load
Peak Load
Stand by Load

Breakup by End User:

Residential
Commercial
Industrial

Breakup by Region:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

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Key Highlights of the Report:                                                           

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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