Global Electric Generators Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

21 Sep, 2021

The power generator manufacturing market consists of sales of generators, which are machines that convert mechanical energy into electrical energy for applications in external circuits. A generator uses mechanical energy such as steam, gas, water to convert it into electrical energy for uninterrupted power supply.

Global Electric Generators Market Size And Drivers:

The global electric generators market is expected to grow from $10.96 billion in 2020 to $11.49 billion in 2021 at a compound annual growth rate (CAGR) of 4.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $12.71 billion in 2025 at a CAGR of 3%. Increasing demand from several industries such as mining, oil and gas, and pharmaceuticals is expected to contribute to the growth of the generator manufacturing market in the forecast period.

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Trends In The Global Electric Generators Market

Generator manufacturing companies are increasingly manufacturing portable generators. A portable generator provides electricity by running a gas-powered/diesel-powered engine that turns an on-board alternator to generate electrical power. Rising demand for uninterrupted and reliable power supply is increasing the demand for portable generators. Portable generators offer several advantages such as flexibility, and increased ease of use. The global portable generators market is expected to reach $2.5 billion by 2024 growing at a CAGR of 4.1% through 2019.

Global Electric Generators Market Segments:
The global electric generators market is further segmented –
By Type: Gas Generator, Diesel Generator, CKD Generator
By Capacity: Below 75kva, 75-375 kVA, 375-750 kVA, Above 750 kVA
By Application: Stand By, Peak Shaving, Continuous
By End User: Mining, Oil & Gas, Construction, Residential, Marine, Manufacturing, Pharmaceuticals, Commercial, Others
By Geography: The global electric generators market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa

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Electric Generators Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides electric generators market overviews, analyzes and forecasts market size and growth for the global electric generators market, electric generators market share, electric generators market players, electric generators market segments and geographies, electric generators market’s leading competitors’ revenues, profiles and market shares. The electric generators market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.