Press release
Exploring the Silent Generator Market in 2024
As per the report, the silent generator market size has grown strongly in recent years. It will grow from $2.89 billion in 2023 to $3.12 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The silent generator market size is expected to see strong growth in the next few years. It will grow to $4.1 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
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Rising Residential Demand For Silent Generators Boosts Market Growth
The growing demand for continuous and reliable power supply during blackouts from the residential sector is driving the increase of silent generators bought or rented by an individual or by a company. Many of them are using generators mainly due to no reliable power supply and to overcome the blackouts or power outages in the residential sector. For instance, according to The International Energy Agency (IEA), a Paris-based autonomous intergovernmental organization, a semi-annual electricity market report forecasted an average annual growth of 2.7 percent in electricity demand from 2022 to 2024, though the COVID-19 pandemic and high energy prices cast doubt on this forecast. This increasing electricity demand will invariably increase the usage of silent generators to provide a continuous and reliable power supply. The growing demand for continuous and reliable power supply during blackouts from the residential sector is expected to propel the growth of the silent generator market in the coming years.
The Influence Of Technological Advancements On The Silent Generators
Technological advancement are shaping the silent generator market. Major companies in the generator industry market are advancing in their new technologies and research and developments in the silent generators market. For instance, in 2021 Isuzu Power Solutions (IPS), a Japan-based generators company launched 3 models of silent generators with different power outcomes such as 20 KVA, 37 KVA, and 50 KVA. All the three models come with 3-phase power and they offer ultra-quiet sound technology, with the reduction of both incoming and outgoing air which was rated at 51 decibels and the smallest generator with 20 KVA is quieter than the standards.
The silent generator market covered in this report is segmented -
1) By Type: Portable, Stationary
2) By Power Rating: Upto 25 KVA, 25 KVA- 49 KVA, 50 - 99 KVA, 100- 499 KVA, Above 500 KVA
3) By Fuel Type: Gas, Disel, Other Fuel Types
4) By Application: Standby And Peak, Prime Mover
5) By End User: Reidential, Commercial, Industrial
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Major companies operating in the silent generator market include Atlas Copco AB, Constant Power Solutions Ltd, Cummins Inc., Fujian Epos Electric Machinery Co. Ltd., Generac Holdings Inc., Greaves Cotton Limited, Himoinsa S.L., Honda Power Equipment Mfg. Inc., Huu Toan Corporation, Jakson Group, Jiangxi Vigorous New Energy Technology Co. Ltd., Kingway Group Co. Ltd., Action Construction Equipment Ltd., Ashok Leyland Limited, Briggs & Stratton Corporation, C&S Electric Limited, Caterpillar Inc., Doosan Portable Power, Euro Diesel (UK) Ltd., FG Wilson (Engineering) Ltd., JCB Power Products Ltd., Deere & Company, Kirloskar Oil Engines Limited, Kohler Co., Mahindra Powerol Limited, Mitsubishi Heavy Industries Ltd., MTU Onsite Energy GmbH, Perkins Engines Company Limited, Powerica Limited, Prakash Industries Limited, Rolls-Royce Power Systems AG, Sofar Solar Co. Ltd.
Contents of the report:
1. Executive Summary
2. Silent Generator Market Report Structure
3. Silent Generator Market Trends And Strategies
4. Silent Generator Market - Macro Economic Scenario
5. Silent Generator Market Size And Growth
…..
27. Silent Generator Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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