Press release
Generator Sales Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region
Generator Sales Market
The Business Research Company offers in-depth market insights through Generator Sales Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The generator sales market size has grown steadily in recent years. It will grow from $23.96 billion in 2023 to $24.93 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to power outages and grid reliability, aging infrastructure, industrial growth, extreme weather events, increased construction.
The generator sales market size is expected to see steady growth in the next few years. It will grow to $29.45 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to aging generators replacements, energy storage systems, off-grid solutions, telemedicine and connectivity, regulatory compliance. Major trends in the forecast period include smart generators, hybrid power systems, microgrid development, grid-interactive generators, increased generator rental services, data-centered generators.
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Market Segmentation:
The main type of generator sales are diesel, gas, and other types. A diesel generator generates electricity by combining a diesel engine and an electric generator. A diesel generator can be used as an emergency power supply in the event of a power outage or in areas where there is no power grid connection. The sales channel included in generator sales are direct, indirect, and have application such as standby, prime & continuous, and peak shaving. These are used by industrial, commercial, and residential sectors.
Major Driver - Increasing Demand For Telecommunications
The increasing demand for telecommunications is expected to propel the growth of the generator sales market. The demand for telecommunications is growing due to various reasons such as growing demand for communications and collaborations, rising spending, growth of electronic devices, advancements in technology, push from the government, and others. This rise in demand for telecommunications will create a significant need for generators as telecommunication infrastructures such as telecom stations, and data centers as well as telecom equipment such as electronic machines, and computers need a continuous power supply and backup for effective operation. For instance, according to a report by the Indian Brand Equity Foundation (IBEF), an Indian Government export promotion agency, the rural subscriber teledensity increased to 60.33% in July 2021 from 59.14% in July 2020. Additionally, it is expected 350 million 5G subscriptions in India will exist, making up about 27% of all mobile subscriptions by 2026. Therefore, the increasing demand for telecommunications will drive the growth of the generator sales market.
Competitive Landscape:
Major companies operating in the generator sales market include Kohler Co., Mitsubishi Heavy Industries Ltd., Rolls-Royce Holdings plc, Siemens AG, Toshiba Corporation, Caterpillar Inc., Cummins Ltd., Generac Holdings Inc., AKSA Power Generation, Briggs & Stratton Corporation, Atlas Copco AB, Aggreko PLC, MAN Energy Solutions SE, Ingersoll Rand Inc., American Honda Motor Corp., Inmesol S.L.U., Daihatsu Diesel Mfg. Co. Ltd., Wärtsilä Oyj Abp, Zwart Techniek BV, Wacker Neuson SE, Kirloskar Oil Engines Limited, Doosan Portable Power, Yanmar Co. Ltd., Deere & Company, Kirloskar Electric Company, Sterling Generators Pvt. Ltd., Mahindra Powerol Ltd., Sudhir Power Ltd., Ashok Leyland Ltd., Perkins Engines Company Limited
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Top Trend - Technological Advancement In Generators
Technological advancement is a key trend gaining popularity in the generator sales market. The market is witnessing the development of innovative generators based on advanced technologies such as sustainable generators, hydrogen fuel cell generators, and others. These innovations offer continuous and efficient power supply/backup, sustainability, reduced cost, low maintenance, and other benefits. Key players in the market are focused on offering generators with revolutionary technologies to meet customer demands and strengthen their position in the market. For instance, in November 2021, Caterpillar Inc., one of the leading manufacturers of power generators based in the USA launched a three-year project via a collaboration with Ballard Power Systems and Microsoft to showcase a hydrogen fuel cells-based power system to generate reliable and sustainable backup power for Microsoft data centers.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Generator Sales Market Characteristics
3. Generator Sales Market Trends And Strategies
4. Generator Sales Market - Macro Economic Scenario
5. Generator Sales Market Size And Growth
…..
27. Generator Sales Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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