Generator Market Research 2016 – 2024

The high degree of fragmentation in the global generators market is increasingly becoming difficult for regional as well as global players to sustain their presence in this marketplace. This is evident in the aggressive consolidation efforts and formulation of strategies for expansion of distribution networks, notes a new study by Transparency Market Research (TMR).

The key players in the global generator market include Cummins Inc., Generac Holdings Inc., Mitsubishi Heavy industries Ltd., Caterpillar Inc., Kohler Co., and Briggs & Stratton Corporation that collectively accounted for substantial revenue generation in the global generators market in 2015.

With regulations in place that control CO2 emissions and monitor efficiency of generators, key market players are striving to develop innovative products to stay competitive in the market. Other functionalities that key players are focused on include noise reduction, remote monitoring, wireless connectivity, and power system integration. “Companies that cater to changing consumer preferences and have distribution networks in remote areas of emerging economies will receive competitive edge in this market,” says a TMR analyst.

The global generator market is expected to expand at a CAGR of 4.58% between 2016 and 2024 for the market’s valuation to reach US$24.76 bn by 2024 increasing from US$16.61 bn in 2015.

Natural Gas Fueled Generators endorsed for Emission Mandates

On the basis of power rating, high power rating (350-1000 kVA) generator sets was the leading segment in 2015 due to their use for both commercial and residential power backup needs. However, the segment of very high power rating (above 1000 kVA) generator sets will display the fastest growth at a CAGR of 6.51% from 2016 to 2024.

Fill the form to gain deeper insights on this market @ : https://goo.gl/HYNOqk

In terms of fuel type, diesel generator sets is the leading segment as they are widely used across the world. The conventions, however, are expected to change in the long-term future with utilization of natural gas generator sets to surpass that of diesel generator sets. The segment of natural gas generator set is expected to display the fastest growth at a CAGR of 7.94% between 2016 and 2024. This change from conventionally used diesel generator sets to natural gas generator sets is mainly due to regulations in place that keep a close watch on harmful emissions.

Prime continuous power stood as the leading application segment in 2015 contributing a revenue of US$8.12 bn to the global market in that year. The commercial and industrial end-use segment held the largest share of 58.50% in the global market in 2015.

Installation of Generators Translates into Revenue Generation for Industrial Operations

The escalating fuel prices and demand-supply gap in electricity transmission is driving the installation of generators among industrial and commercial consumers. With increasing power transmission load that are heavy for existing grid infrastructure, power outages are commonality in emerging economies. However, this results in loss of business worth millions of dollars due to downtime of commercial and industrial operations. Thus, the demand for generators is anticipated to remain robust until 2024.

However, players in the market face several growth impediments. Strict mandates in place by regulatory bodies for minimizing emissions is limiting the installation of conventional generator sets. This, however, is expected to translate into opportunities for natural gas-fueled generator sets. Regardless of fuel type or power rating, generators need to meet expectations in terms of reduced noise, greater efficiency, and wireless connectivity.

Despite several factors that are favoring the installation of generators, the growth of the generator market is expected to display a marginal dip due to upgradation of electricity transmission networks to handle high volume load that has reduced power outages considerably.

The review presented is based on the findings of the Transparency Market Research report, titled “Generator Market (Fuel Type – Diesel Generator Sets, Natural Gas Generator Sets, Fuels Generator Sets; Power Rating – Below 100 kVA, 100-350 kVA, 350-1000 kVA, Above 1000 kVA; Application – Standby Backup Power, Prime Continuous Power, Peak Shaving Power; End User – Residential, Commercial & Industrial) – Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 – 2024.” 

The global generator market is segmented as follows:

Generator Market – Fuel Type Segment Analysis

  • Diesel Generator Sets
  • Natural Gas Generator Sets
  • Other Fuels Generator Sets

Generator Market – Power Rating Segment Analysis

  • Below 100 kVA
  • 100–350 kVA
  • 350–1000 kVA
  • Above 1000 kVA

Generator Market – Application Segment Analysis

  • Standby Backup Power
  • Prime Continuous Power
  • Peak Shaving Power

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

US Office Contact

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

%d bloggers like this: