Generator Market - Generator Sales to Remain Strong as Demand for Energy Snowballs
In terms of revenue, the global generator market was valued at US$16.61 bn in 2015. The market is expected to reach US$24.76 bn by 2024, expanding at a CAGR of 4.58% from 2016 to 2024, says TMR.
Albany, NY -- (SBWire) -- 12/27/2016 --Generator sets are ideal solutions to provide electricity in individual homes and other facilities. Generator sets not only aid in providing backup power but also in peak shaving power and prime continuous power. Numerous households, communities, industrial, and commercial facilities have installed generator sets for providing power. Demand for electricity has been increasing constantly across the globe in the last decade owing to increasing population and industrialization. However, electricity generation by utilities is not sufficient to meet the global demand for power. This has created a favorable space for generator sets to fill in the gap between power generation and consumption. North America dominates the global market for generator sets. This report by Transparency Market Research analyzes, estimates, and forecasts demand for generator sets on the global and regional level for an eight-year period from 2016 to 2024 in terms of revenue. The study also provides information on restraints, drivers, and opportunities along with their impact on the overall market during the forecast period. The report segments the market based on power rating, fuel type, application, end-user, and region and provides estimates and forecast of the generator market for each segment.
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The study analyzes the product value chain, beginning with components up to end-users. Additionally, it evaluates the market based on Porter's Five Forces model, which analyzes the degree of competition in the market by considering factors such as bargaining power of buyers and suppliers, threat from substitute products and new entrants. The report includes a detailed competitive landscape of the generator market including company market share analysis and profiles of key market participants.
The report provides a decisive view of the generator market by segmenting the market based on power rating, fuel type, application, and end-user. Power rating segments analyzed in the report include below 100 kVA, 100–350 kVA, 350–1000 kVA, and above 1000 kVA generator sets. Based on fuel type, generator sets are segmented into diesel generators, natural gas generators, and other fuel generators. End-user segments analyzed in the report include residential generator sets and commercial & industrial generator sets. Based on application, generator sets are segmented into prime continuous power, standby backup power, and peak shaving power. All the segments have been analyzed based on present and future trends, and the market has been estimated from 2016 to 2024. Diesel generator sets are the most widely used fuel type generators across the globe. However, demand for natural gas generator sets is also increasing rapidly. Commercial & industrial end-users of generator sets accounted for the major share of the generator market. Generator sets are mostly used for standby backup power and prime continuous power.
The generator market has been segmented based on geography into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Demand for each type of generator sets in terms of revenue for each of these regions has been forecast in the report for the period from 2016 to 2024.
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Leading manufacturers profiled in the report include Briggs & Stratton Corporation, Caterpillar Inc., Cummins Inc., Generac Holdings, Inc., Kirloskar Electric Company Ltd., Kohler Co., Mitsubishi Heavy Industries, Ltd., Multiquip Inc., Wärtsilä Corporation, and Yanmar Co., Ltd. These companies have been profiled in detail with features such as company overview, financial overview, business strategies, employee strength, and recent developments.
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