Generator Sales Market by Type, Application, Power Rating, Sales Channel, End-user and Region – Global Forecast to 2026 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Generator Sales Market by Type (Diesel, Gas), Application (Standby, Peak Shaving, Continuous), Power Rating (<100 KVA, 100-350 KVA, 350-1000-2500 KVA, 2500-5000 KVA, >5000 KVA), Sales Channel (Direct, Indirect), End User, Region – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

The generator sales market is expected to grow from an estimated USD 19.9 billion in 2021 to USD 26.5 billion in 2026, at a CAGR of 5.9% during the forecast period.

Generators can be used in standby, prime, continuous, and peak shaving applications in various end-user sectors such as industrial, commercial, and residential. The main driver of the generator sales market is the rising demand for uninterrupted and reliable power supply from end-users and increased demand for IT infrastructure management. Rising adoption of energy storage technologies can act as a restraint for the generator sales market.

The industrial segment is expected to grow at the highest CAGR from 2021 to 2026

Based on the end-users of generators, the industrial end-user segment is estimated to be the fastest growing market from 2019 to 2024. The segment includes the utility/power generation, oil & gas, and other industries such as mining, marine, chemicals, military, and manufacturing. Growth of the industrial sector in the Asia Pacific and the Middle East & Africa is expected to drive the generator sales market.

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

Indirect sales channels 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. Thus, indirect sales channel expected to emerge as the largest growing market.

Asia Pacific: The largest generator sales market

Asia Pacific is currently the largest generator sales market, followed by North America and the Middle East & Africa. China accounted for the maximum share of the Asia Pacific market in 2018. India is projected to grow at the highest CAGR from 2021 to 2026. Growth of the industrial and commercial sectors in countries such as China, India, South Korea, Bangladesh, and Taiwan is expected to drive the Asia Pacific generator sales market. Countries such as China and India are focusing on oil & gas production activities to reduce oil dependency, which is expected to create demand for generator sets in the oil & gas sector.

Market Dynamics

Drivers

• Expanding Manufacturing Sector in Asia-Pacific Has Driven Demand for Power Generation Systems and Generators
• Surging Demand for Uninterrupted & Reliable Power Supply in Several Industries to Drive Demand For-Backup Power Generation

Restraints

• Rising Adoption of Energy Storage Technologies and Renewable Energy Sources
• Significant Investments for Upgrading Existing T&D Infrastructure

Opportunities

• Increasing Requirement for Hybrid Generators, Bi-Fuel, and Inverter Generators
• Electrification of Rural Areas to Provide Sufficient Electricity as Per Need in Developing Countries
• Growing Trend of Distributed Power Generation Presents New Opportunities for Generators

Challenges

• Stringent Government Regulations Associated with Generators
• Shortage of Components/Parts Used in Manufacturing Generators

Products Mentioned

• ABB
• Aksa Energy
• Atlas Copco
• Briggs & Stratton
• Caterpillar
• Cummins
• Denyo
• Generac
• Greaves Cotton Limited
• Jubaili Bros
• Kirloskar Oil Engines Ltd. (Koel)
• Kohler Co.
• Mitsubishi Heavy Industries, Ltd.
• Multiquip Inc.
• Other Players
• Rolls-Royce Holdings
• Siemens Energy
• Wacker Neuson
• Weichai Group
• Wartsila
• Yanmar

For more information about this report visit https://www.researchandmarkets.com/r/4nfhuf

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