Generator Sales Market by Fuel Type (Diesel, Gas, LPG, biofuels), Power Rating (Up to 50 kW, 51–280 kW, 281-500 kW, 501-2000 kW, 2001-3500 kW, Above 3500 kW), Application, End-User Industry, Design, Sales Channel Region - Global Forecast to 2030

Generator Sales Market by Fuel Type (Diesel, Gas, LPG, biofuels), Power Rating (Up to 50 kW, 51–280 kW, 281-500 kW, 501-2000 kW, 2001-3500 kW, Above 3500 kW), Application, End-User Industry, Design, Sales Channel Region - Global Forecast to 2030

The global generator sales market is estimated to grow from USD 23.1 Billion in 2023 to USD 34.5 Billion by 2030; it is expected to record a CAGR of 5.9% during the forecast period. The growing demand for uninterrupted and reliable power supply worldwide is driving the growth for the market.

“Standby: The largest segment of the generator sales market, by application“

Based on application, the Generator sales market has been split into three types standby, peak shaving, and prime & continuous. There is a high demand for Standby power generators across various industries as there is a need for emergency power for a limited time during blackouts and brownouts. Commercial buildings, such as hospitals, data centers, telecom infrastructure, office buildings, and others, require emergency power. Demand for standby generators is surging amid an increase in extreme weather events and associated power outages.

“Industrial segment is the largest segment based on end-use industry”

By end- use industry, the Generator sales market has been segmented into industrial, commercial, and residential. Industrial includes various sectors, including utilities/power generation, oil & gas, chemicals & petrochemicals, metals & mining, manufacturing, marine, construction, and other industries such as agriculture, transportation, and aerospace & defense. Industrial generators play a crucial role in maintaining a consistent power supply, particularly in situations where the grid system is unreliable, ensuring efficient performance of equipment. Generators are used for essential functions such as pumps, fans, hydraulic units, battery chargers, and other critical functions in power plants when power from the main grid is lost. The transition from coal-fired power plants to gas-fired power plants is growing to reduce greenhouse gas emissions. Natural gas is projected to replace coal as the second most used fuel, driving up demand for gas generator sets due to its low cost and increasing demand..

Asia Pacific is expected to be the second fastest-growing region in the generator sales market

Asia Pacific is expected to be the second fastest-growing Generator sales market during the forecast period The generator sales market in the Asia Pacific region is expected to experience robust growth, driven by the rapid pace of industrialization, widespread adoption of energy storage technologies, and substantial investments in upgrading the existing transmission and distribution (T&D) infrastructure. These factors are set to create favorable conditions for the expansion of the generator sales market, supporting increased demand and market opportunities.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

By Company Type: Tier 1- 35%, Tier 2- 45%, and Tier 3- 20%

By Designation: C-Level- 35%, Director Levels- 25%, and Others- 40%

By Region: North America- 40%, Asia Pacific- 30%, Europe- 20%, the Middle East & Africa- 5%, and South America- 5%

Note: Others include product engineers, product specialists, and engineering leads.

Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The Generator sales market is dominated by a few major players that have a wide regional presence. The leading players in the generator sales market are Caterpillar Inc. (US), Cummins Inc. (US), Rolls-Royce Holdings plc (UK), Generac Holdings Inc. (US), Mitsubishi Heavy Industries, Ltd. (Japan).

Research Coverage:

The report defines, describes, and forecasts the global Generator salesmarket, by component, power source, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the Generator sales market.

Key Benefits of Buying the Report

The growing demand for uninterrupted and reliable power supply across various sectors. Some of the main factors driving the Generator sales market likeRapid industrialization. Factors such as high operational costs associated with diesel generators, primarily caused by the escalating fuel prices still restrain the market. Several industries are recognizing the potential benefits of fuel cell generators for backup power, creating opportunities in the generator sales market to grow. Governments imposing stricter emission standards for generators is the major challenge faced by countries under Generator sales development.

Product Development/ Innovation: New technologies are emerging in various applications related to generator sales. These advancements are revolutionizing the design, construction, and utilization of generators, offering numerous benefits, and expanding their range of applications. Digitalization and IoT integration have revolutionized the generator industry, offering enhanced monitoring, safety control, and management capabilities. Cummins' recent unveiling of its Hybrid PowerDrive system for generators in 2022 is a noteworthy example of this innovation. Hybrid power drive system integrates a traditional generator with energy storage technology, creating a hybrid solution that combines the benefits of both power sources.

Market Development: Generator sales has been experiencing significant growth worldwide. This expansion is driven by various factors such as industrialization, urbanization, and the growing need for uninterrupted and reliable power supply. Generators play a vital role in the various industry, providing power backup and continuous power supply. The Asia Pacific region is anticipated to witness rapid growth in the generator sales market With rapid industrialization, widespread adoption of energy storage technologies, and substantial investments in upgrading transmission and distribution (T&D) infrastructure. These factors create a favorable business environment, driving demand and offering lucrative market opportunities in the region.

Market Diversification: Caterpillar Inc. launched the Cat® XQ330 mobile diesel generator set, a new power solution for standby and prime power applications that meets U.S. EPA Tier 4 Final emission standards.

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Caterpillar Inc. (US), Cummins Inc. (US), Rolls-Royce Holdings plc (UK), Generac Holdings Inc. (US), Mitsubishi Heavy Industries, Ltd. (Japan) among others in the Generator sales market