The global generator sales market is growing at a considerable CAGR of 6.0% during the forecast period. Increasing demand for constant power supply flows is one of the prime factors affecting and driving the market. The growing production of oil and gas, along with growing infrastructure development is also estimated to be the key factors that are contributing significantly towards the growth of the market. However, increasing energy storage technologies adoption and shortfalls of components in making generators are the major factor constraints that are hindering the growth of the global generator sales market across the globe. 

Moreover, the emerging focus on the requirement of hybrid generators along with electrification of rural areas is acting as the key factor that is creating opportunities in the market. New product launches in the market are likely to drive the growth of the generator sales market. For instance, in September 2020, one of the companies named Caterpillar had introduced the Cat G3412 natural gas-fueled generator set that has US EPA stationary emergency certification rated at 500 kW for 60 Hz markets. The G3412 is designed in such a manner that it will fulfill all the requirements such as quick starting and loading capability, meeting NFPA 110 Level 1 Type 10 standards along with being UL 2200 listed. Additionally, with the presence of skin-tight and canopy enclosure options, it is matched for standby application that includes edge data centers along with healthcare, office buildings, retail complexes, and government facilities and it also comes with a package-mounted radiator and simplified wiring connections.

Impact of COVID-19 Pandemic on the Global Generator Sales Market 

The global generator sales market is hardly hit by the COVID-19 pandemic since December 2019. The COVID-19 pandemic had brought a lot of disruption across the globe. Due to the COVID-19 pandemic, various manufacturing facilities across various countries were shut down due to lockdown restrictions that had impacted the market in an adverse manner.

Segmental Outlook 

The global generator sales market is segmented based on type, application, and end-user. Based on type, the market is segmented into diesel, gas, and other. By application, the market is segmented into standby power, peak shaving power and prime & continuous power. Further, based on end-user the market is segmented into industrial, commercial, and residential.

Global Generator Sales Market Share by End-User 2020 (%)

Based on the end-user segment, the residential segment holds a significant share in the market. The prime factors that drive the growth of generator sales in the residential segment include a rising number of power cuts along with increasing awareness of customers towards generator usage. Additionally, the generator support is a secondary source of power supply as a dependable one that prevents damages when an electrical power outage happens.

Regional Outlooks

The global generator sales market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held a considerable share in the global generator sales market. North America’s enlarging infrastructure of data centers is one of the prime factors affecting the growth of the market in the region. Additionally, the existence of a large number of players is another main factor that is providing support to the growth of the market in the region.

Global Generator Sales Market, by Region 2021-2027

Asia-Pacific will have Considerable Growth in the Global Generator Sales Market

Asia-Pacific region is expected to witness significant growth opportunities for the market. Growing electricity demand across the region is likely to drive the growth of the regional market. Additionally, key market companies expanding their reach along with various innovative strategies by them in this region, especially in South Korea, China, and India are also impacting the market. Additionally, increasing projects is another factor that is also affecting the growth of the market.

Market Player Outlook

Key players of the global generator sales market are Caterpillar, Cummins Inc., Rolls-Royce plc, Generac Power Systems, Inc., and Siemens Energy. To survive in the market, these players adopt different marketing strategies such as product launches and mergers and acquisitions. For instance, in May 2020, Caterpillar had introduced their Cat GC diesel generator set that is considered to be a new line of standby power solutions offered with an optimized mix attribute for the purpose of providing performance with a minimal footprint for its customers. The standby power rating ranges from 250 kW to 600 kW for offering high standards for reliability and productivity along with effective support from the Cat dealer network. Additionally, this set of generators could be equipped with Cat connect remote asset monitoring, which will provide data visualization, reporting, along with across-the globe access with the support of a web interface.

In August 2020, Atlas Copco had done the acquisition of the assets of one of the companies named THN Druckluft and Produktions GmbH & Co.KG (THN). Through this acquisition, Atlas Copco will develop a powerful presence directly for its Alup brand in Germany.

In September 2019, Cummins Inc. acquired Hydrogenics Corp. for around $290 million that is considered to be a provider of fuel cell and hydrogen production technologies in order to enhance its portfolio and strengthen Cummins’ fuel cell capabilities.

The Report Covers

    • Market value data analysis of 2020 and forecast to 2027.

    • Annualized market revenues ($ million) for each market segment.

    • Country-wise analysis of major geographical regions.

    • Key companies operating in the global generator sales market based on the availability of data, information related to new product launches, and relevant news is also available in the report.

   • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

    • Analysis of market-entry and market expansion strategies.

    • Competitive strategies by identifying ‘who-stands-where in the market.