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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Generator Sales Market Trends
Generators are machines that convert mechanical energy into electrical energy as the output over the power lines. Mechanical energy is provided through an outside source, like internal combustion engines, gas turbines, water turbines, and steam turbines. The mechanical energy is then converted to electricity with the help of a generator.
The following trends are driving the growth of the market:
Rapidly Growing Manufacturing Industry
Emerging nations are going through rapid industrialisation and governments are increasing the development of the manufacturing sector as it has played a significant role in economic growth, especially in the Asia Pacific region.
Increasing Demand for Backup Power Supply
The rapid growth of industries and increasing urbanisation has led to increased consumption. This situation has propelled businesses and people to stop relying on power grids alone and adopt generators for uninterrupted power supply.
Rural Area Electrification
Governments around the world have initiated plans to provide electricity to rural areas as a major portion of the world’s population resides in rural areas, away from access to the main grid.
Generator Sales Market Report Snapshots
Generator Sales Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global market for generator sales reached a size of USD 66.42 billion.
The market is expected to grow at a CAGR of 4.90% during the period 2024-2032.
The generator sales market is expected to reach a value of USD 101.81 billion.
The market is driven by the increasing demand for energy for residential and industrial purposes and the rising demand for backup power services in the manufacturing industry.
The increasing demand for alternative fuel-based generators and the rising demand for hybrid generators are key trends in the market.
The regional markets for the global generator sales market include North America, Europe, the Asia Pacific, Latin America, Middle East and Africa.
The different fuel type includes diesel and gas, among others.
The power ratings in the market include 75kVA, 75-375 kVA, 376-750 kVA, and above 750 kVA.
The applications available in the market include prime and continuous, standby, and peak shaving.
The different end-uses of generator sales include industrial, commercial, and residential.
The key players in the market include Caterpillar Inc., Generac Power Systems, Inc., Cummins Inc., WeiChai Holdings Group Co., Ltd., Mitsubishi Heavy Industries, Ltd., Siemens AG, and ABB Ltd, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124