Generator Market Exploring Future Growth 2022-2032 and Key Players - General Electric, Generac Holdings Inc.

The generator market was valued at $45.9 billion in 2022, and is estimated to reach $74.1 billion by 2032, growing at a CAGR of 4.8% from 2023 to 2032.

In times of power outages, generators offer a dependable supply of energy, guaranteeing the continuous operation of vital applications. They are employed in a variety of locations, including private residences and big industrial buildings. When there is a power outage, many generators start up automatically, minimizing downtime. Generators are adaptable to diverse applications because of their wide range of sizes and power outputs. Generators provide access to energy in remote and off-grid areas where grid connections are impractical.

Typically, generators need a fuel source, such as gasoline, diesel, or natural gas, which is an ongoing expense and an emissions source. In residential and environmentally sensitive regions, some generators' noise and exhaust emissions might be a problem. For them to work properly when needed, generators need routine maintenance. High-quality generators are pricey, and the total outlay increases due to installation fees. Because of their limited operating time and need for frequent refilling, portable generators.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗦𝗮𝗺𝗽𝗹𝗲 𝐏𝐃𝐅 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 :https://www.alliedmarketresearch.com/request-sample/2157

There is a rising need for generators in the residential, commercial, and industrial sectors as power reliability becomes more crucial. In times of low renewable energy output, generators serve as a backup power source, enhancing renewable energy systems. Generators offer the chance to bring electricity to isolated areas.

The generator market is studied on the basis of type, voltage rating, application, end-use industry, and region. By type, the generator market is divided into diesel, gas, propane, dual fuel, and hybrid. The diesel segment is projected to offer the highest generator market opportunities for growth. Based on the voltage rating, the market is divided into below 100 kVA, 100kVA to 350 kVA, 350 kVA to 1000 kVA, and above 1,000 kVA. The 350 kVA to 1000 kVA dominated the market for 2022, and the same is projected to grow at the highest pace during the projection period.

By application, the market is categorized into backup power, continuous power, and peak shaving power. The continuous power segment is projected to maintain its dominance over the market during the projection period. By end-use industry, the market is further segmented into residential, commercial, and industrial. The industrial segment is projected to dominate the growth for the market in 2022 as well as continue the same over the projection years. By region, the generator market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa). The Asia-Pacific region dominated the market growth for 2022. It is also expected to maintain its dominance during the projection period.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/40d991a7c6d704e745fdb856f8884d4b

The major players operating in the generator industry are Caterpillar, General Electric, Kirloskar Oil Engines Ltd., Generac Holdings Inc., Kohler Co., Aksa Power Generation, Su-kam, Cummins Inc., ABB Ltd., and Mitsubishi Electric. The companies adopted key strategies such as collaboration to increase their market share.

The drivers, restraints, and opportunities are explained in the report to better understand the generator market scope. This report further highlights the key generator market trends and areas of investment. In addition, it includes Porter's five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain the intense competition in the industry.

𝐒𝐨𝐦𝐞 𝐎𝐟 𝐓𝐡𝐞 𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝𝐬 𝐅𝐨𝐫 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐨𝐫𝐬 𝐈𝐧𝐜𝐥𝐮𝐝𝐞:

IEC 60034 Series: The International Electrotechnical Commission (IEC) 60034 series of standards covers rotating electrical machines, including generators. It sets requirements for electrical, mechanical, and thermal characteristics, as well as testing methods.
ISO 8528 Series: The International Organization for Standardization (ISO) 8528 series consists of standards for reciprocating internal combustion engine generator sets. These standards specify performance requirements and testing procedures.
ISO 8528-1: Part 1 of ISO 8528 focuses on the general requirements for generator sets, including definitions, performance characteristics, and testing.
ISO 8528-2: Part 2 of ISO 8528 provides specific requirements for reciprocating internal combustion engine generator sets, including those driven by diesel or gas engines.
ISO 8528-3: Part 3 of ISO 8528 covers generator sets powered by steam turbines. It includes performance characteristics and test methods for these systems.
ISO 8528-5: Part 5 of ISO 8528 is dedicated to generator sets powered by gas turbines. It sets performance and test requirements for such systems.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/2157

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

By type, the diesel segment is projected to grow at the highest CAGR of approximately 5.2%, in terms of during the generator market forecast period.
By voltage rating, the 350 kVA to 1000 kVA segment is projected to grow at the highest CAGR, in terms of during the generator market forecast period.
Depending on application, the continuous power segment dominated the generator market share in 2022.
By end-use industry, the industrial segment dominated the generator market growth at a CAGR of 5.0% in 2022.
By region, Asia-Pacific dominated the generator market size and is expected to grow at a high CAGR during the forecast period.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

AKSA POWER GENERATION
Su-ka
General Electric
Generac Holdings Inc.
Kirloskar Oil Engines Ltd
Caterpillar
Mitsubishi Electric
Kohler Co.
ABB Ltd.
Cummins Inc.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is market research, consulting, and advisory firm of Allied Analytics LLP. Founded in 2013, the firm has been instrumental in offering high-quality syndicated and customized market research reports, consulting services, and useful insights to leading market players, startups, investors, and stakeholders. Driven by the aim to eliminate sub-standard data and become a successful partner for organizations, Allied Market Research has been innovating continuously, expanding the product & service portfolio, and implementing the client-first approach since its inception. With the clientele spanning more than 7,000 organizations that also include a majority of Fortune 500 companies, AMR has a proven track record of helping and serving the global clientele and playing a major role in their success.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

This release was published on openPR.