The global generator sales market size was worth around USD 21.4 Billion in 2022 and is predicted to grow to around USD 32.8 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.5% between 2023 and 2030.
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➤ The market is experiencing development as a result of the increasing investment in infrastructure worldwide.
Rising infrastructure investment is one of the variables that could propel the global generator sales market forward during the anticipated period. The economy may expand and productivity may be increased in a variety of industries as a result of infrastructure expenditures. Furthermore, it is indispensable for the advancement of the local community. The market will have significant potential for growth as a consequence of the rapid implementation of generators as reserve electric power for infrastructure projects.
➤ The market growth is restricted by the government’s strict regulations.
The expansion of the generator sales industry is significantly impeded by the government’s increasingly stringent environmental regulations, which are designed to reduce carbon emissions. Diesel generators induce environmental degradation. 1 liter of diesel consumed generates 2.7 kg of carbon dioxide.
➤ A lucrative opportunity is presented by the increasing demand for generators from data centers.
The increasing demand for generators for data centers is one of the factors that could drive the global generator sales market during the forecast period. Data centers, which facilitate the rapid access of data to users, necessitate a significant amount of electricity for both their routine operations and the cooling of the structures in which they are located. According to an estimate from the International Energy Agency, data centers will consume approximately 1% of the world’s electricity in 2019.
➤ The market’s expansion is significantly impeded by the growing prevalence of energy storage technologies.
The energy storage industry has seen substantial expansion in recent years. The World Bank Group has pledged to allocate USD 1 billion to a program in 2018 to expedite the investment in battery storage for electric power systems in low- and middle-income countries. Furthermore, energy storage technologies are being invested in by market participants. For example, in 2020, Greenko Energy Holdings invested approximately USD 1 billion in a new battery storage business that includes a proposal to manufacture lithium-ion batteries in India for use in large-scale power grid applications.
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The Global Generator Sales Market is segmented based on product, application and region
Global Generator Sales Market: Product Segment Analysis
● Diesel
● Gas
● Others
Global Generator Sales Market: Application Segment Analysis
● Continuous Load
● Peak Load
● Standby Load
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The global Generator Sales market profiles key players such as:
● MAN Energy Solutions
● Rolls-Royce
● MAN Energy Solutions
● Atlas Copco
● Caterpillar Inc.
● Cummins Inc.
● Zwart Techniek
● Himoinsa
● Wacker Neuson
● Kohler-SDMO
● Inmesol S.L.U.
● Daihatsu Diesel Mfg. Co. Ltd.
● Aggreko
● Wartsila
● American Honda Motor Company Inc
???? Recent Developments:
• Honda announced in January 2022 that it would shortly begin selling the EU32i portable generator, which features a newly developed specialized engine with a maximum output of 3.2kVA. The European zone will serve as the initial market for sales, which will subsequently expand to other world regions. The EU32i is an appropriate choice for precision equipment that necessitates high-quality electricity due to its ability to generate a consistent stream of high-quality electrical output with a steady waveform.
• GenServe announced the acquisition of OK Generators in April 2022, as reported by GenNx360 Capital Partners. GenServe is a portfolio company of GenNx360, a private equity firm based in New York that specializes in private equity investments in industrial and middle-market business services providers. The acquisition of OK Generators has substantially enhanced its presence in the South Florida market.
➤ It is anticipated that the Asia Pacific region will maintain the highest market share during the forecast period.
The global generator sales market share is anticipated to be dominated by the Asia Pacific region during the forecast period. The region’s expansion is ascribed to the growing construction activities, rapid industrialization, and the increasing expenditure on infrastructural projects and structures.
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