The generator sales market is estimated to be USD 20.93 Billion in 2018 and is projected to grow at a CAGR of 5.41%, during the forecast period, to reach a market size of USD 27.24 Billion by 2023. The growth of the generator sales market can be attributed to the increasing demand for uninterrupted and reliable power from a wide range of end-users such as the residential, IT/Telecom, healthcare, utility and power generation, marine, chemicals, oil & gas, mining, and construction sectors.
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Asia Pacific currently largest generator sales market for generators sales, followed by North America & Middle East & Africa. China accounted for maximum share of market in Asia Pacific in 2017.
India is projected to grow at highest CAGR, 2018 to 2023.
Growth of industrial and commercial sectors in countries such as China, India, South Korea, Bangladesh, & Taiwan is expected to drive generator sales market in Asia Pacific.
- Generator set manufacturing companies
- Manufacturers’ associations
- Gas and diesel engine manufacturers
- Suppliers of parts and components for engines and generators
- Institutional investors
- Government and research organizations
The report segments the generator sales market on the basis of fuel type into diesel, gas, and other fuel generators. Diesel generator sets are widely used in the manufacturing, healthcare, oil & gas, marine, and IT/telecom sectors due to the easy availability of fuel, ease of storage, ease of transportation, spare parts, and quick response to load changes.
These factors are expected to lead to the diesel generator segment being the largest during the forecast period.
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Generator sales market has been segmented based on end-user into residential, commercial, and industrial. Industrial end-user segment is expected to grow at highest CAGR during forecast period.
Key factor driving market is favorable government policies for growth of industries in various countries such as Mexico, China, Brazil, and India. Growth of oil & gas sector in China, Mexico, Canada, and African countries is also fueling the demand for generators in industrial end-user segment.
2 Market Ranking Analysis, 2016
3 Competitive Scenario
4 New Product Developments
5 Investments & Expansions
6 Mergers & Acquisitions
7 Contracts & Agreements
Some of major players in generator sales market are Caterpillar (US), Cummins (US), Rolls-Royce (UK), Mitsubishi (Japan), Yanmar (Japan), and Kohler (US). These players have adopted growth strategies such as new product launches, contracts & agreements, mergers & acquisitions, and expansions to capture a larger share of the generator sales market.
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The major factors restraining the growth of the generator sales market are the increased adoption of energy storage technologies and significant investments in modernizing/upgrading existing T&D infrastructure. Stringent government regulations for diesel-powered generators along with high operational and maintenance costs are one of the major challenges in the generator sales market.
Objectives of the Study
- To define, describe, and forecast the global generator sales market by fuel type, power rating, application, end-user, and region.
- To provide detailed information regarding the major factors influencing the growth of the generator sales market (drivers, restraints, opportunities, industry-specific challenges, winning imperatives, and burning issues related to the market).
- To strategically analyze the generator sales market with respect to individual growth trends, future prospects, and contribution of each segment to the market.
- To analyze opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders.
- To strategically profile the key players and comprehensively analyze their market shares and core competencies.
- To track and analyze competitive developments such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the generator sales market.
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