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Electric Generators Market: Insights on Market Size, Trends, and Key Players Driving Growth
Electric Generators Market Size
What Is The Projected Market Size Of The Global Electric Generators Market And Its Growth Rate?
• The electric generators market size has grown to $29.75 billion in 2024.
• The market is projected to grow to $31.3 billion in 2025, witnessing a CAGR of 5.2%.
• The growth in the future is projected to reach $37.17 billion in 2029 at a CAGR of 4.4%.
What Is Driving The Growth In The Electric Generators Market?
The growth in the electric generators market is driven by the increasing industrial activities in sectors such as mining, oil and gas, and pharmaceuticals. The demand stems from the need for power backups in these industries where power infrastructure is often absent. With the economic growth in emerging markets, this demand is set to grow further. For instance, in May 2024, the Australian Bureau of Statistics reported that the mining industry exhibited robust growth in 2022-23, necessitating power infrastructure.
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Who Are the Key Players Driving Electric Generators Market Growth?
• Kirloskar Electric Co. Ltd.
• Honda Motor Co. Ltd.
• Caterpillar Inc.
• Toshiba Corporation
• Cummins Inc.
• General Electric Company
• YAMAHA Motor Pvt. Ltd.
• Rolls-Royce Holdings plc
• Atlas Copco
• Doosan Group
• Mahindra Powerol Ltd.
• Yanmar Co. Ltd.
• Westinghouse Electric Corporation
• Mitsubishi Heavy Industries Ltd.
• Kohler Co.
• Hyundai Heavy Industries Co. Ltd.
• Wärtsilä Corporation
• Ingersoll Rand
• Sterling Generators Pvt. Ltd.
• Generac Holdings Inc.
• Cooper Corp.
• AKSA Power Generation
• Wacker Neuson SE
• Briggs & Stratton Corporation
• Escorts Group
• MQ Energy Inc.
• Powerica Ltd.
• Inmesol S.L
• Firman Power Equipment
• Champion Power Equipment Inc.
• Albion Jvco Limited
What Are The Key Trends In The Electric Generators Market?
• Digital integration for user experience
• Hybrid power solutions
• Remote monitoring and predictive maintenance
• Demand for clean energy
• Grid stability and resilience
What Are The Segments Of The Global Electric Generators Market?
• By Type: Gas Generator, Diesel Generator, CKD Generator
• By Capacity: Below 75kva, 75-375 kva, 375-750 kva, Above 750 kva
• By Application: Stand By, Peak Shaving, Continuous
• By End User: Mining, Oil And Gas, Construction, Residential, Marine, Manufacturing, Pharmaceuticals, Commercial, Other End-Users
Which Region Leads The Electric Generators Market?
As of 2024, Asia-Pacific was the largest region in the electric generators market, closely followed by Western Europe. Other regions covered in the analysis include Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Electric Generators Market Global Market Report?
- Market Size Analysis: Analyze the Electric Generators Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electric Generators Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Electric Generators Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electric Generators Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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