Press release
Top Market Shifts Transforming the Generator Sales Market Landscape: Key Insights
Generator Sales
What Is the Expected CAGR for the Generator Sales Market Through 2025?
The size of the generator sales market has been expanding consistently in the past few years. The market value is estimated to increase from $24.5 billion in 2024 to $25.3 billion in 2025, reflecting a compound annual growth rate (CAGR) of 3.3%. The expansion during the historic period was primarily driven by factors such as power disruptions, grid reliability concerns, outdated infrastructure, industrial progression, severe weather conditions, and a rise in construction activity.
What's the Projected Size of the Global Generator Sales Market by 2029?
The market size for generator sales is predicted to experience a consistent expansion in the coming years, anticipated to develop at a compound annual growth rate (CAGR) of 4.4% to reach a valuation of $30.04 billion by 2029. This anticipated growth in the forecast period could be due to factors such as the replacement of aging generators, energy storage systems, off-grid solutions, advancements in telemedicine and connectivity, as well as regulatory compliance. Furthermore, the future trends likely to influence this market include the surge in smart generators, hybrid power systems, the evolution of microgrids, grid-interactive generators, an increment in generator rental services, and an increase in data-center specific generators.
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Top Growth Drivers in the Generator Sales Industry: What's Accelerating the Market?
The escalating requirements for telecommunications is anticipated to spur the expansion of the generator sales market. The rising importance of telecommunications can be attributed to numerous factors such as expanding communication and collaboration needs, increased expenditure, the proliferation of electronic gadgets, technological advancements, government incentives, among others. The burgeoning interest in telecommunications will result in an enormous demand for generators as telecommunication infrastructures like telecom stations and data centers and telecom equipment like electronic appliances and computers require an uninterrupted power source and backup for efficient functioning. To illustrate, the Indian Brand Equity Foundation (IBEF), an export promotion agency of the Indian Government, reported that the rural subscriber teledensity hiked up to 60.33% in July 2021, an increase from 59.14% in July 2020. Additionally, it is projected that there will be 350 million 5G subscriptions in India, constituting approximately 27% of all mobile subscriptions by 2026. Consequently, the augmenting need for telecommunications will steer the growth of the generator sales market.
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What Trends Will Shape the Generator Sales Market Through 2029 and Beyond?
The increasing prevalence of technological advancements is a central trend in the generator sales market. The sector is experiencing the emergence of cutting-edge generators, utilizing advanced technologies including sustainable generators, hydrogen fuel cell generators, among others. These innovative solutions provide a range of benefits like continuous and efficient power supply/backup, sustainability, lowered cost, minimal maintenance, and more. Market-leading players are focussing on providing generators equipped with groundbreaking technologies to cater to customer demands and fortify their market position. For example, Mahindra & Mahindra, an automobile manufacturing company based in India, unveiled a new range of CPCB 4+ Diesel Generators under their Mahindra Powerol product line, in September 2024. Complying with the most recent emission standards set by India's Ministry of Environment, Forest and Climate Change. The new range offers generators with capacities varying between 10VA and 320kVA.
What Are the Main Segments in the Generator Sales Market?
The generator sales market covered in this report is segmented -
1) By Fuel Type: Diesel, Gas, Other Types
2) By Sales Channel: Direct, Indirect
3) By Application: Standby, Prime And Continuous, Peak Shaving
4) By End User: Industrial, Commercial, Residential
Subsegments:
1) By Diesel: Portable Diesel Generators, Standby Diesel Generators, Industrial Diesel Generators
2) By Gas: Natural Gas Generators, Propane Generators, Biogas Generators
3) By Other Types: Dual-Fuel Generators, Solar Generators, Hydrogen Generators
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Which Top Companies are Driving Growth in the Generator Sales Market?
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
Which Regions Will Dominate the Generator Sales Market Through 2029?
Asia-Pacific was the largest region in the generator sales market in 2024. The regions covered in the generator sales market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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