According to IMARC Group’s latest report, Generator Sales Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.’ the global generator market reached a value of US$ 19.30 Billion in 2021. A generator provides an optimum power backup by converting mechanical energy into electrical energy. It comprises an engine, charger, main control, alternator, voltage regulator, fuel system, main assembly, and a cooling and exhaust system. It is extensively used in commercial and residential spaces, especially during prolonged power outages. Nowadays, leading market players are introducing advanced generators that automatically switch on when the power grid fails.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report
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Severe weather conditions and natural disasters, such as earthquakes, hurricanes, tornadoes, and tsunamis, can cause power failures. This represents one of the major factors escalating the demand for generators across the globe. Moreover, rapid urbanization and increasing reliance on electricity during construction activities are propelling the market growth. Besides this, the growing popularity of natural gas generators in industrial sites on account of stringent regulations implemented by governments of different countries is positively influencing the market. Furthermore, the rising utilization of commercial emergency power backups in the healthcare industry to keep life support machines working during power cuts is bolstering the market growth. Looking forward, IMARC Group expects the market to reach US$ 27.07 Billion by 2027, exhibiting at a CAGR of 5.3% during 2022-2027.
- ABB Ltd.
- Atlas Copco AB
- Bharat Heavy Electricals Limited
- Briggs & Stratton Corporation
- Caterpillar Inc.
- Cummins Inc.
- Generac Power Systems Inc.
- General Electric Company
- Kohler Co.
- Mitsubishi Heavy Industries Ltd.
- Rolls-Royce plc
- Siemens AG
- Toshiba Corporation
- Wacker Neuson SE
- Wärtsilä Corporation.
Key Market Segmentation:
Breakup by Fuel Type:
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- Below 75 kVA
- 75-375 kVA
- 375-750 kVA
- Above 750 kVA
- Continuous Load
- Peak Load
- Stand by Load
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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