A new market report has slated that the global generator market will ride on an average 4.5% CAGR, in terms of volume, during the forecast period (2017-2026). In terms of value, sales of generator across the globe are poised to reach approximately US$ 39,000 Mn in revenues by 2026-end.
Globally, generators are benefitting with escalating concerns regarding energy security, which in turn has led prospective generator end-users seek ways for operating more efficiently and safely. In emerging nations worldwide, regular power outages have hindered smooth business operations, and implementation of generators has become the key for these entities for functioning throughout a power outage. This has further enabled businesses to save on operating costs and energy.
7 Key Takeaways Generator Market for Forecast Period 2017-2026 (In Terms of Value)
1- Asia-Pacific excluding Japan (APEJ) is expected to remain the fastest expanding market for generator. Rapid industrial expansion in countries of APEJ, such as China and India, in light of low cost manufacturing facilities underpinned by favorable regulatory policies has influences several OEMs to setup their manufacturing bases in these fast emerging nations. As stability of power supply remains uncertain in these countries, need for effective power source has gained an uptick over the past few years. Generators therefore are witnessing huge demand in APEJ.
2- Europe and APEJ will account for nearly equal revenue shares of the market by 2026-end. Although revenues from the market in Europe remained significantly higher in 2017, demand is likely to witness a decline over the forecast period. Meanwhile demand for generators will gain a considerable surge in APEJ during 2017 to 2026.
3- On the basis of fuel type, generators run on diesel will witness substantial demand worldwide, accounting for the largest market revenue share during the forecast period. A steady expansion has been projected for sales of generators run on diesel through 2026. Sales of generators run on gas will witness an average expansion, to account for nearly one-third market revenue share by 2026-end.
4- Based on end use, revenues from generator sales will remain the largest in the industrial segment. Commercial and residential end use of generators will account for roughly equal revenue share of the market by 2026-end. Sales of generators in the residential segment will reflect the fastest growth through 2026.
5- In terms of application, revenues from stationary generators will remain slightly larger than those from their portable counterparts. However, sales of portable generators will ride on a relatively higher CAGR than that of stationary generators through 2026.
6- Generators having above 1000 kVA capacity are anticipated to remain dominant in the market, in terms of revenues, trailed by 350-1000 kVA. Revenues from these two capacity segments will account for approximately three-fourth market share by 2026-end. Sales of generators having 100-350 kVA capacity will register the highest CAGR through 2026.
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