What Is The Current and Historic Market Size Analysis Of The Generator Sales Market?
The generator sales market has seen considerable growth due to a variety of factors.
• The marketplace for generators has seen consistent growth in recent years. The market value is anticipated to amplify from $24.5 billion in 2024 to $25.3 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 3.3%.
Factors such as power disruptions, the reliability of power grids, deteriorating infrastructure, industrial expansion, severe weather conditions, and a rise in construction have contributed to the growth in the historical period.
What Are The Predictions for The Generator Sales Market Size In The Coming Years?
The generator sales market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for generator sales is predicted to experience consistent expansion in the coming years. The prediction stands at a valuation of $30.04 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 4.4%.
This anticipated rise during the forecast period can be associated with factors such as replacing aging generators, energy storage systems, off-grid solutions, telemedicine and connectivity, and adherence to regulations. The major patterns expected for the forecast period involve smart generators, hybrid power systems, microgrid construction, grid-interactive generators, a surge in generator rental services, and generators focused on data centers.
Which Key Drivers Are Propelling The Generator Sales Market's Growth?
The burgeoning need for telecommunications is anticipated to hasten the expansion of the generator sales market. The telecommunications demand is on the rise due to multiple factors like escalating desire for communication and collaboration, mounting expenditure, the surge in electronic devices, technological evolution, governmental impetus, and others. This growing requirement for telecommunications will pave the way for a substantial demand for generators as telecommunications infrastructures, such as telecom stations and data centers, and telecom equipment, like electronic machines and computers, need an uninterrupted power source and backup to function efficiently. The Indian Brand Equity Foundation (IBEF), a Government export promotion agency of India, reported a rise in rural subscriber teledensity from 59.14% in July 2020 to 60.33% in July 2021. Furthermore, forecasts anticipate the existence of approximately 350 million 5G subscriptions in India by 2026 which will make up about 27% of all mobile subscriptions. Consequently, the escalating requirement for telecommunications is predicted to fuel the expansion of the generator sales market.
What Are The Key Segments Within The Global Generator Sales Market?
The generator sales market covered in this report is segmented –
1) By Fuel Type: Diesel, Gas, Other Types
2) By Sales Channel: Direct, Indirect
3) By Application: Standby, Prime And Continuous, Peak Shaving
4) By End User: Industrial, Commercial, Residential
Subsegments:
1) By Diesel: Portable Diesel Generators, Standby Diesel Generators, Industrial Diesel Generators
2) By Gas: Natural Gas Generators, Propane Generators, Biogas Generators
3) By Other Types: Dual-Fuel Generators, Solar Generators, Hydrogen Generators
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How Are New Trends Impacting The Size Of The Generator Sales Market?
Advancements in technology are becoming increasingly prevalent in the generator sales market, a significant trend being noted in the industry. The introduction of ground-breaking generators that incorporate advanced technologies, such as hydrogen fuel cell generators, sustainable generators, and others, is taking centre stage in the market. The benefits of these innovations include efficient and uninterrupted power supply/backup, sustainability, decreased costs, minimal maintenance among others. By providing generators that utilize these radical technologies, market leaders aim to respond to customer needs and consolidate their market position. For instance, in September 2024, a notable launch was undertaken by India's automotive manufacturer, Mahindra & Mahindra, who introduced a new series of CPCB 4+ Diesel Generators to their Mahindra Powerol range. This line includes generators with capacities that span from 10VA to 320kVA and adhere to the recent emission standards established by the Ministry of Environment, Forest and Climate Change in India.
Who Are the Key Players in the Generator Sales Market?
Major companies operating in the generator sales market include:
• Kohler Co.
• Mitsubishi Heavy Industries Ltd.
• Rolls-Royce Holdings plc
• Siemens AG
• Toshiba Corporation
• Caterpillar Inc.
• Cummins Ltd.
• Generac Holdings Inc.
• AKSA Power Generation
• Briggs & Stratton Corporation
• Atlas Copco AB
• Aggreko PLC
• MAN Energy Solutions SE
• Ingersoll Rand Inc.
• American Honda Motor Corp.
• Inmesol S.L.U.
• Daihatsu Diesel Mfg. Co. Ltd.
• Wärtsilä Oyj Abp
• Zwart Techniek BV
• Wacker Neuson SE
• Kirloskar Oil Engines Limited
• Doosan Portable Power
• Yanmar Co. Ltd.
• Deere & Company
• Kirloskar Electric Company
• Sterling Generators Pvt. Ltd.
• Mahindra Powerol Ltd.
• Sudhir Power Ltd.
• Ashok Leyland Ltd.
• Perkins Engines Company Limited
What are the Regional Insights into the Generator Sales Market?
Asia-Pacific was the largest region in the generator sales market in 2024. The regions covered in the generator sales market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
