Global Generator Sales Market Analysis and Forecast 2022
The "Global Generator Sales Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast" added by DecisionDatabases.com provides comprehensive analysis including market value, forecasts, as well as a detailed competitive market analysis of major players.
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Generators are one of the most efficient and reliable sources for power-generation. Generators are easily operated and are mainly used as an effective source for emergency power- backup. Growing demand in various applications due to its low operating cost and longer life is likely to augment the generator sales market growth over the coming years. Growing incidences of power-failure along with rising demand for consistent power supply are major market drivers, which are expected to propel market demand in the near future. Rising investments in the power generations facility for the growth of various industries will also contribute towards growth of generator sales. On the other side, high maintenance cost and limited power-generation capacity are some of the major market-restraints, which may hamper future prospects of generator sales over the forecast period.
Growing global power demand and rapid industrialization are prompting the requirement for continuous power-supply, which in turn will drive the market demand for generator sales over the forecast period. Rise in generator sales have also been seen in remote places due to unavailability of grid connectivity and are expected to bolster market demand in less developed regions over the coming few years.
The global generator sales market has been segmented by types into gas and diesel generator sales. The generator sales market has been further segmented based on power rating into five categories including below 100 kVA, 100–350 kVA, 350–1,000 kVA and above 1,000 kVA. The 350-1000 kVA power ratings generator is projected to become a major segment over the forecast period owing to its growing demand from various end-use industries, especially from residential and commercial establishments. Further, the generator sales market has been segmented based on applications and end user into various segments. Industrial end-user is one of the leading segments and is anticipated to account for the largest market share over the coming years on account of increasing demand for consistent power supply to maintain the flow of manufacturing process for industrial applications.
North America is one of the major markets for generator sales and is projected to grow at a significant rate over the forecast period owing to growing usage of generators to overcome the power issue arising as a result of the outdated power grid in the region. Asia Pacific is the fastest growing market and is anticipated to witness the highest growth over the forecast period on account of robust industrialization and outdated power infrastructure. Europe, Latin America and MEA are also expected to grow at a moderate rate in the near future due to growing construction industries and increasing oil & mining activities in the regions.
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The major industry players of generator sales include Caterpillar, Inc., Cummins, Inc., Generac Holdings, Inc., Kohler Co., Mitsubishi Heavy Industries, Ltd., Briggs & Stratton Corp., Himoinsa S.L., Kirloskar Electric Company Ltd., MQ Power Corp., MTU Onsite Energy, Wartsila Corp., Wacker Neuson and Yanmar Co. Ltd.
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