Global Generator Sales Market (2022 to 2027) - Rising Adoption of Hybrid Generators, Bi-Fuel Generators, and Inverter Generators Presents Opportunities

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Mar 23, 2022, 12:30 ET

DUBLIN, March 23, 2022 /PRNewswire/ -- The "Generator Sales Market by Fuel Type (Diesel, Gas), Power Rating (Up to 50 kW, 51-280 kW, 281-500 kW, 501-2000 kW, 2001-3500 kW, Above 3500 kW), Application (Standby, Continuous), End User, Design, Sales Channel, Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The generator sales market is expected to grow from an estimated USD 21.6 billion in 2022 to USD 28.6 billion in 2027, at a CAGR of 5.8% during the forecast period.

The industrial segment, by end user, is expected to be the largest market from 2022 to 2027

The end user segment is categorized as industrial, commercial, and residential. The industrial segment held the largest share of the generator sales market. The industrial end user segment is witnessing a high demand for diesel & gas generators, particularly in developing countries. The growth of this segment is attributed to the increase in demand from mining, marine, chemicals, military, and manufacturing industries. Industrial generators continuously supply power in the event of power failure from the grid system. The growth of the industrial segment is mainly driven by the increasing demand for distributed power generation in Asia Pacific and the oil and gas boom in North America.

Indirect Sales Channel are expected to emerge as the largest segment based on sales channel

Indirect sales channel such as OEMs, third-party service providers, procure generators and equipment from manufacturers and provide services to different end users. With most generators used for standby power, it is important that they are in working condition when needed, primarily during a power cut. Owing to which distribution/sales network and service play the most important role in the customer's decision-making process. Companies are focusing on expanding their distribution and services network, which is driving the generator sales market. Better product reach and preference for procurement of generators through indirect sales channel also provide ample opportunities to boost market growth. Thus, indirect sales channel is expected to emerge as the largest growing market.

Asia Pacific: The largest generator sales market

Asia Pacific is expected to dominate the global generator sales market between 2022-2027, followed by North America and the Europe. The generator sales market in Asia Pacific is witnessing significant developments in the manufacturing sector due to industrialization, which has supported the demand for generators across countries of the region.

The increasing investments in LNG, chemicals, and mining along with the growth of the domestic manufacturing sector is fuelling the growth for gensets in countries such as China, India, South Korea, Bangladesh, and Vietnam. The rapidly expanding data centers industry in Asia Pacific will continue driving the demand for diesel generators in the region. Increased investments in data centers, especially in China, Australia, Japan, and Singapore, are expected to drive the demand for generators.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Generator Sales Market
4.2 Generator Sales Market in Asia-Pacific, by End-user & Country
4.3 Generator Sales Market, by Fuel Type
4.4 Generator Sales Market, by Application
4.5 Generator Sales Market, by Power Rating
4.6 Generator Sales Market, by Sales Channel
4.7 Generator Sales Market, by Design
4.8 Generator Sales Market, by End-user
4.9 Generator Sales Market, by Region

5 Market Overview
5.1 Introduction
5.2 COVID-19 Health Assessment
5.3 COVID-19 Economic Assessment
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Rapidly Expanding Manufacturing Sector Fueling Demand for Generators and Power Generation Systems
5.4.1.2 Surging Demand for Uninterrupted & Reliable Power Supply to Drive Demand for Backup Power Generation
5.4.2 Restraints
5.4.2.1 Growing Adoption of Renewable Energy Sources and Energy Storage Technologies
5.4.2.2 Increasing Investments for Upgrading Aging T&D Infrastructure
5.4.2.3 Increased Operating Expenditure of Diesel Generators Owing to High Fuel Prices
5.4.3 Opportunities
5.4.3.1 Rising Adoption of Hybrid Generators, Bi-Fuel Generators, and Inverter Generators
5.4.3.2 Electrification of Rural Areas in Developing Countries to Enable Energy Sufficiency
5.4.3.3 Surging Use of Distributed Power Generation Systems and Integration with Renewable Energy Sources
5.4.4 Challenges
5.4.4.1 Adherence to Stringent Government Regulations Associated with Generators
5.4.4.2 Raw Material and Component Shortage and Increase in Lead Time for Manufacturing Generators
5.5 Trends/Disruptions Impacting Customers' Businesses
5.5.1 Revenue Shift and New Revenue Pockets
5.6 Ecosystem
5.7 Value Chain Analysis
5.8 Market Map
5.9 Average Selling Price Trend
5.10 Technology Analysis
5.11 Trade Data Statistics
5.12 Tariffs, Codes, and Regulations
5.12.1 Tariffs Applicable to Generators
5.12.2 Regulatory Bodies, Government Agencies, and Other Organizations
5.12.3 Codes and Regulations Related to Generator Sets
5.13 Porter's Five Forces Analysis
5.14 Innovations and Patent Registrations
5.15 Case Study Analysis

6 Generator Sales Market, by Fuel Type
6.1 Introduction
6.2 Diesel
6.2.1 Ease of Availability of Diesel as Fuel and Long Life of Diesel Generators Drive Market Growth
6.3 Gas
6.3.1 Expanding Gas Distribution Network to Drive Growth of Market for this Segment During Forecast Period
6.4 Others

7 Generator Sales Market, by Power Rating
7.1 Introduction
7.2 Up to 50 Kw
7.2.1 Increasing Demand for Continuous Power Supply from Small Commercial End-users and Homeowners to Drive this Segment
7.2.1.1 Up to 10 Kw
7.2.1.2 11-20 Kw
7.2.1.3 21-30 Kw
7.2.1.4 31-40 Kw
7.2.1.5 41-50 Kw
7.3 51-280 Kw
7.3.1 Use in Remote Construction Sites is Driving this Segment's Growth
7.4 281-500 Kw
7.4.1 Surging Demand in Oil & Gas and Mining Industries to Drive Growth
7.5 501-2,000 Kw
7.5.1 Growing Chemicals, Petrochemicals, and Commercial Sectors to Boost Segment Growth
7.6 2,001-3,500 Kw
7.6.1 Increased Demand in Power Generation Sector to Enhance Growth of 2,001-3,500 Kw Segment
7.7 Above 3,500 Kw
7.7.1 Increasing Demand for Uninterrupted Power Supply in Marine Sector and Offshore Oil & Gas Operations to Drive Growth

8 Generator Sales Market, by Application
8.1 Introduction
8.2 Standby
8.2.1 Increasing Frequency of Power Outages Has Driven Demand for Standby Generators in Hospitals, Data Centers, and Residential End Uses
8.3 Prime & Continuous
8.3.1 Rising Off-Grid Construction and Mining Activities and Technological Advancements in Military Sector Drive Demand for Prime & Continuous Generators
8.4 Peak Shaving
8.4.1 Need to Reduce Utility Costs Drives Demand for Peak Shaving Generators in Summer and Winter Seasons

9 Generator Sales Market, by End-user
9.1 Introduction
9.2 Industrial
9.2.1 Utilities/Power Generation
9.2.1.1 Rising Adoption of Generators for Standby Power and During Peak Demand Period to Reduce Demand-Supply Gap in Remote Areas to Drive Market Growth
9.2.2 Oil & Gas
9.2.2.1 Installation of Modern Drilling Machines for Exploration & Production Activities to Accelerate Demand for Heavy-Duty Generator Sets
9.2.3 Chemicals & Petrochemicals
9.2.3.1 Growing Demand from Chemicals & Petrochemicals Industry in Asia-Pacific to Accelerate Demand for Generator Sets
9.2.4 Metals & Mining
9.2.4.1 Use in Remote, Off-Grid Mining Sites to Boost Demand for Generators
9.2.5 Manufacturing
9.2.5.1 Increasing Initiatives by Manufacturers to Set Up Captive Power Plants to Reduce Utility Costs Are Expected to Drive Market for Generator Sets
9.2.6 Marine
9.2.6.1 Adoption of Generators to Power Propulsion Systems is Expected to Boost Demand
9.2.7 Construction
9.2.7.1 Ease of Use in Remote Construction Sites for Temporary Durations to Accelerate Demand for Generator Sets
9.2.8 Others
9.3 Commercial
9.3.1 Healthcare
9.3.1.1 Demand for Uninterrupted Power Supply to Boost Market for Backup Generators
9.3.2 It & Telecom
9.3.2.1 Increasing Demand for Generators in It & Telecom Sector for Continuity of Business Operations to Drive Growth
9.3.3 Data Centers
9.3.3.1 Increasing Need to Improve Uptime and Avoid Eliminate Costly Operational to Boost Demand for Generator Sets
9.3.4 Others
9.4 Residential
9.4.1 Increasing Demand for Electricity and Expanding Residential Real Estate Sector to Drive Demand for Generators

10 Generator Sales Market, by Design
10.1 Introduction
10.2 Stationary
10.2.1 Use of Low-Noise Engine Technology and Growing Oil & Gas, Chemicals & Petrochemicals, Telecommunications, and Manufacturing Industries to Fuel Demand for Stationary Generators
10.3 Portable
10.3.1 Accessibility to Remote Locations and Suitability for Temporary Applications Are Driving Growth of Portable Generators

11 Generator Sales Market, by Sales Channel
11.1 Introduction
11.2 Direct
11.2.1 Direct Sales Eliminates Intermediaries Involved in Distribution of Generators and Helps in Reducing Advertising Costs
11.3 Indirect
11.3.1 Better Product Reach and Preference for Procurement of Generators Through Indirect Sales Channel to Boost Market Growth

12 Generator Sales Market, by Region

13 Competitive Landscape
13.1 Key Players Strategies
13.2 Market Share Analysis of Top Five Players
13.3 Revenue Analysis of Top Five Market Players
13.4 Competitive Leadership Mapping
13.4.1 Star
13.4.2 Emerging Leader
13.4.3 Pervasive
13.4.4 Participant
13.5 Startup/Sme Evaluation Quadrant, 2020
13.5.1 Progressive Company
13.5.2 Responsive Company
13.5.3 Dynamic Company
13.5.4 Starting Block
13.6 Generator Sales Market: Company Footprint
13.7 Competitive Scenario

14 Company Profiles
14.1 Key Players
14.1.1 Caterpillar
14.1.2 Cummins
14.1.3 Rolls-Royce Holdings
14.1.4 Mitsubishi Heavy Industries, Ltd.
14.1.5 Generac
14.1.6 Wartsila
14.1.7 Yanmar
14.1.8 Wacker Neuson
14.1.9 Siemens Energy
14.1.10 Briggs & Stratton
14.1.11 Atlas Copco
14.1.12 Weichai Power Co. Ltd.
14.1.13 Abb
14.1.14 Kohler Co.
14.1.15 Denyo Co. Ltd.
14.2 Other Players
14.2.1 Aksa Energy
14.2.2 Greaves Cotton Limited
14.2.3 Kirloskar Oil Engines Ltd. (Koel)
14.2.4 Honda Power Products
14.2.5 Doosan Group

15 Appendix

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