Global Generator Sales Market Overview 2019 to 2023: Size, Share, Trends, Manufacturers

1. Generator Sales Market Research Report by Type (continuous, stand by and peak shave), by Fuel (diesel and gas), by End-use (Residential, Commercial and Industrial), by Portability (Stationary and Portable), and Region – Global Forecast till 2023 Market Scenario Power is an essential requirement for industrial growth and normal functioning of factories and manufacturing units, residential, and commercial sector. The demand for energy and power has increased rapidly in recent times. Although, there are several existing power grid projects and power grid projects underway, across the globe, they are bound to malfunction at a point. Thus, generators play an important role when energy supply is concerned. Generators act as a backup in the event of power failure to any industry, grid or construction site. Rising demand for continuous flow of power is set to boost the demand in the generator sales market. Generators are machines that use diesel or gas or any other substance as fuel and converts mechanical energy to electrical energy with the help of the engines. The generators are capable of generating power of more than 500 KW. This helps industries generate power in case of any load shed from the state distribution companies. Since industries that are completely dependent on power for the functioning of machinery, can face huge losses in case of any load cut. Thus, industries keep backup in the form of generators for smooth functioning of the operations. The global generator sales market is expanding due to facts such as industrialization and urbanization, increasing demand for power backup systems, long power cuts during peak hours, and the need for continuous power supply. For an instance oil & gas industry needs power for efficient functioning across the value chain. Thus they require power generators so that in case of any load shedding or power cut, generators with high power generating capacity could meet the demand for power. Siemens has a large variety of generators that are capable of generating power up to 5 MW. Along with this, the commercial buildings are also requiring generators at large scale to provide the power supply every moment. Generator sales are directly related to the increased demand for power, either on small scale or large scale.

2. Generator sales market is segmented on the basis of type, fuel, portability, end- use, and region. On the basis of type the market is further segmented as continuous, standby, and peak shave. Amongst these, continuous segment holds the largest market share due to increasing demand for power that is available 24x7. The generator sales market is classified as, diesel and gas, on the basis of fuel. Diesel generators are dominating the market size owing to their capacity to generate large amount of power, and easy availability of fuel. However, gas generators are expected to dominate the generator sales market over the forecast period, as they are environment-friendly and the diesel prices are increasing at a fast rate. Based on portability, the generator sales market is segmented as stationary and portable. Portable generators are expected to gain a higher number of customers owing to increasing short-term projects and generator rental market becoming stronger. On the basis of end-use, the market is classified as residential, commercial and industrial. Industrial segment holds the largest market share as there is an increase in the industrial sector from the developing countries. The global generator sales market is expected to expand at ~6.2% CAGR during the forecast period. The generator sales market is expected to increase phenomenally during the forecast period owing to increasing need for power and rising industrialization from the growing economies. Asia Pacific region accounts for the largest market share in the generator sales market, mainly due to the rapid growth in the manufacturing sector in recent times. Within Asia Pacific, regions such as India and China have been major contributors to the growth of the generator sales market with rapid commercial activities and industrial development. The Middle East region is expected to follow Asia Pacific Region in the generator sales market, owing to increased smart cities projects and increasing activities from oil & gas industry.