Generator Market By Type (Diesel, Gas, Propane, Dual Fuel, Hybrid), By Voltage Rating (Below 100 kVA, 100kva to 350 kVA, 350 kva to 1000 kVA, Above 1,000 kVA), By Application (Backup Power, Continuous Power, Peak Shaving Power), By End Use Industry (Residential, Commercial, Industrial): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global generator market was valued at $45.9 billion in 2022, and is projected to reach $74.1 billion by 2032, growing at a CAGR of 4.8% from 2023 to 2032.
An apparatus that transforms mechanical energy into electrical energy is a generator. It operates on the electromagnetic induction theory, which Michael Faraday discovered at the beginning of the 19th century. Powering homes, companies, and delivering electricity in isolated locations and during emergencies, generators are essential for producing electricity for a variety of uses. It is made up of various parts, including a prime mover, a motor, a stator, a magnetic field, and outside terminals.
Prime mover in a generator supplies the mechanical energy needed to power the generator. It is an engine, a turbine, or some other mechanism that has the ability to turn the rotor of the generator. The generator's rotor revolves while being surrounded by a magnetic field. It causes an electrical current to flow through the stator as it rotates. The generator's stator, which surrounds the rotor and is stationary, is a mechanical device. It has wire coils within, and as the rotor turns, the coils start to conduct electricity. A magnetic field is necessary for a generator to operate. This field is produced in some generators by permanent magnets and in others by running an electric current through a coil. Through output terminals, the generator's electrical current is transmitted to the outside world. To connect electrical appliances or a grid to receive the generated electricity, use these terminals.
Different applications employ generators as a backup to supply electricity during power shortages. For camping, outdoor gatherings, and emergency electricity, small, portable generators are used. In industries, large generators are utilized to power machinery and equipment. Electricity is produced on a big scale by generators inside power plants, which are frequently propelled by turbines. In isolated locations without access to the electrical grid, generators are used.
The generator market is studied on the basis of type, voltage rating, application, end-use industry, and region. By type, the generator market is divided into diesel, gas, propane, dual fuel, and hybrid. By voltage rating, the market is classified into below 100 kVA, 100kva to 350 kVA, 350 kVA to 1000 kVA, and above 1,000 kVA. By application, the market is categorized into backup power, continuous power, and peak shaving power. By end-use industry, the market is further segmented into residential, commercial, and industrial. By region, the generator market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa).
The major players operating in the generator industry are Caterpillar, General Electric, Kirloskar Oil Engines Ltd., Generac Holdings Inc., Kohler Co., AKSA POWER GENERATION, Su-kam, Cummins Inc., ABB Ltd., and Mitsubishi Electric. The companies adopted key strategies such as collaboration to increase their market share.
The drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain the intense competition in the industry
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the generator market analysis from 2022 to 2032 to identify the prevailing generator market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the generator market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global generator market trends, key players, market segments, application areas, and market growth strategies.
Additional company profiles with specific to client's interest
Additional country or region analysis- market size and forecast
Historic market data
Key player details (including location, contact details, supplier/vendor network etc. in excel format)
List of customers/consumers/raw material suppliers- value chain analysis
SWOT Analysis
Key Market SegmentsBy ApplicationBackup Power
Continuous Power
Peak Shaving Power
By End Use IndustryResidential
Commercial
Industrial
By TypeDiesel
Gas
Propane
Dual Fuel
Hybrid
By Voltage RatingBelow 100 kVA
100kva to 350 kVA
350 kva to 1000 kVA
Above 1,000 kVA
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market PlayersGenerac Holdings Inc.
Kohler Co.
Caterpillar
ABB Ltd.
General Electric
Su-kam.
AKSA POWER GENERATION
Mitsubishi Electric
Kirloskar Oil Engines Ltd
Cummins Inc.
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