Global Generator Market 2024-2028
Technavio has been monitoring the generator market and is forecast to grow by USD 21385.3 mn during 2023-2028, accelerating at a CAGR of 8.09% during the forecast period. Our report on the generator market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rapid industrialization and growing construction equipment, growing instances of power grid failure, and increasing incidence of natural calamities causing power outages.
Technavio's generator market is segmented as below:
By Type
By End-user
- Industrial
- Commercial
- Residential
By Geography
- APAC
- Europe
- Middle East and Africa
- North America
- South America
This study identifies the growing rural electrification programs as one of the prime reasons driving the generator market growth during the next few years. Also, incorporation of bi-fuel technology in generators and technological advances in generator sets will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the generator market covers the following areas:
- Generator market sizing
- Generator market forecast
- Generator market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading generator market vendors that include ABB Ltd., AKSA Power Generation, Atlas Copco AB, Briggs and Stratton LLC, Caterpillar Inc., Cooper Corp., Cummins Inc., Doosan Corp., Eaton Corp. Plc, Generac Holdings Inc., General Electric Co., Honda Motor Co. Ltd., Kirloskar Oil Engines Ltd., Kohler Co., Kubota Corp., Mitsubishi Heavy Industries Ltd., Multiquip Inc., PR INDUSTRIAL Srl, Siemens AG, and Yamaha Motor Co. Ltd.. Also, the generator market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.