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Generator Market By End Use (Residential, Industrial, Commercial), By Fuel Type (Diesel Generator, Gas Generator), By Power Rating (Below 100 kVA, 100-350 kVA, 350-1000 kVA, Above 1000 kVA) - Growth, Future Prospects & Competitive Analysis, 2016 - 2023

A generator refers to a device that converts mechanical energy into electrical energy. It uses various fuel sources, such as gasoline, diesel, and gas, as fuel to run the internal combustion engine. Generators are widely used as a source of backup power in various industries, commercial installations, and residential buildings.

The generator market is anticipated to gain thrust with growing demand for uninterrupted power supply during power grid downtime. The operations of commercial establishments such as malls, data centers, hospitals, and construction sites are highly dependent on the power supply.

A growing power outage due to a lack of power generation and grid maintenance activities is impacting the business operations of commercial installations, which in turn is influencing commercial installations to use generators as a power backup source. Thus fueling the demand for power backup equipment such as generators.

A further growing gap between power generation and power supply will result in power outages, which in turn are anticipated to increase the demand for generators over the forecast period.

Moreover, increasing power cuts and voltage fluctuations adversely impact the operations of industries, which in turn is influencing the industries to adopt reliable power backup equipment such as generators to reduce their downtime due to power outages. This, in turn, is expected to augment the demand for generators over the forecast period (2016–2023).

However, the high cost of acquisition and increasing use of renewable energy sources such as solar and wind, coupled with favorable regulatory policies for the use of renewable energy sources, is expected to hamper the growth of the generator market during the forecast period (2016–2023).

North America is expected to be the largest region in the global generator market owing to the increasing demand for generators in commercial establishments and industries, which is expected to drive demand in the region. Asia Pacific is anticipated to be the fastest-growing region due to rapid urbanization and industrialization, especially in China and India, fueling the demand for generators over the forecast period (2016–2023).

The global generator market is expected to be worth US$ 18.4 billion by the end of 2016 and to grow at a CAGR of 4.9% between 2016 and 2023.

Purpose of the Report

The purpose of this strategic research study titled "Global Generator Market Growth, Future Prospects, Competitive Analysis, and Forecast, 2016–2023" is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the opportunities in the global generator market.

Target Audience

  • Industry Investors
  • Research Professionals
  • Emerging Companies
  • Generator manufacturers
  • Raw material suppliers for generators
  • Research Institutes

On the basis of end users, the global generator market is categorized into the following types:

  • Residential
  • Industrial
  • Commercial

Among end uses, the commercial segment was the largest segment in 2015. Growth of the segment is augmented by rising demand for uninterrupted power supply from various commercial establishments such as malls, banks, restaurants, movie theatres, hospitals, schools, offices, and other commercial buildings, which fuels the demand for generators. The industrial segment is anticipated to be the fastest-growing segment due to rapid industrialization, especially in emerging economies, fueling demand for power supply.

Power outages caused by supply-demand imbalances and grid maintenance activities encourage industries to use generators as an alternate power source to reduce downtime losses. Further, increasing voltage fluctuation from the grid is causing wear and tear on high-value equipment, which in turn is encouraging the use of generators as an alternative power source.

The segment is anticipated to gain significant market share by 2023. The residential segment is also anticipated to register steady growth due to increasing demand from residential buildings, which is anticipated to drive the demand for generators during the forecast period (2016–2023).

On the basis of fuel type, the global generator market is categorized into the following types:

  • Diesel
  • Gas
  • Others (Gasoline)

Among all fuel types, the diesel segment was the most dominant in 2015, accounting for over 60% of the revenue share of the global generator market. The segment is expected to continue its dominance over the forecast period due to its low cost of acquisition.

Over the forecast period (2016-2023), the gas generators market is expected to be the fastest-growing segment. The growth of the segment is augmented by its increasing popularity due to low operational costs coupled with favorable regulatory policies due to low emissions of greenhouse gases. The segment is anticipated to gain significant market share by 2023.

On the basis of power rating, the global generator market is categorized into the following types:

  • Below 100 kVA
  • 100-350 kVA
  • 350-1000 kVA
  • Above 1000 kVA

Among all power rating generators, the 100-350 kVA power rating segment was anticipated to be the largest segment in 2016, accounting for a significant revenue share in the global generator market.

The growth of the segment is augmented by the wide adoption of 100-350 kVA power rating generators in the residential sector and small-scale industries as a power backup source. The 350-1000 kVA power rating segment is anticipated to be the fastest-growing segment during the forecast period (2016–2023).

The growth of the segment is augmented by the increasing use of 350-1000 kVA power rating generators in malls, educational institutions, data centers, the IT sector, telecom, and residential societies.

By 2023, the segment is expected to have a significant market share in the global generator market. Other segments, such as the 100 kVA power rating segment and the 1000 kVA power rating segment, are anticipated to grow at a steady rate over the forecast period.

On the basis of geography, the global generator market is segmented into the following categories:

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • France
  • U.K.
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Rest of Asia Pacific
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • rest of Latin America
  • Middle East and Africa (MEA)
  • GCC
  • rest of MEA

The global generator market is segmented on the basis of geography. Asia Pacific is expected to be the largest and fastest-growing region in the global generator market. Rapid industrial growth in China over the last decade, fueled by low-cost manufacturing and favorable regulatory policies, has influenced OEM to establish manufacturing bases in China, fueling demand for generators in the region.

Moreover, favorable regulatory policies to boost industrial growth in India are projected to amplify the demand for generators in the region. Followed by it, North America is anticipated to be the second largest region in global generator sales due to increasing demand for generators from various industries and commercial buildings in the region.

Europe, Latin America, the Middle East, and Africa (MEA) are anticipated to collectively contribute significant revenue shares in the global generator market and are projected to grow at a steady rate over the forecast period (2016–2023).

Frequently Asked Question:

The market for Generator Market is expected to reach USD$ 25.6 Bn in 2023.

The Generator Market is expected to see significant CAGR growth over the coming years, at 4.9%.

The report is forecasted from 2016 -2023.

The base year of this report is 2015.

Caterpillar, Inc., Business Description,Financial Performance Analysis, Product Portfolio. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Dec 2016
Category:  Energy Utilities
Report ID:   58277
Report Format:   PDF
Pages:   120
Rating:    4.3 (55)
Delivery Time: 24 Hours to 48 Hours   
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