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Electric Generators Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Electric Generators Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021
  • 175 pages
  • ID: 6071987
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the electric generators market are Aggreko, Atlas Copco, Caterpillar Inc., FG Wilson, Kirloskar Electric Co. Ltd., Cummins Inc., Rolls-Royce, Wärtsilä, Yanmar Co. Ltd. and Briggs & Stratton.

The global electric generators market is expected to grow from $10.96 billion in 2020 to $11.49 billion in 2021 at a compound annual growth rate (CAGR) of 4.8%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $12.71 billion in 2025 at a CAGR of 3%.

The power generator manufacturing market consists of sales of generators which are machines that convert mechanical energy into electrical energy for applications in external circuits. A generator uses mechanical energy such as steam, gas, water to convert it into electrical energy for uninterrupted power supply.

Increasing demand from several industries such as mining, oil and gas, and pharmaceuticals is expected to contribute to the growth of the generator manufacturing market in the forecast period.Generators are used as a source of power backup in many industrial activities.

However, in cases where grid infrastructure is absent, generators are used as the only source of power.For example, majority of the mining sites are located in remote locations, and require generators for their day-to-day power requirements.

For instance, mining market in India is expected to increase from $105 billion in 2018 to $126 billion in 2022 at a CAGR of 4.63%. Economic growth in emerging markets is increasing the industrial activity which in turn will drive the market for generators in the forecast period.

Government initiatives to promote building and maintaining a robust energy infrastructure will drive the demand for power generation systems which in turn is expected to restrain the market for generators in the forecast period. The worldwide pipeline power generation projects are valued US$4.46 trillion in 2019. As of 2019, Asia-Pacific was the leading region with $1.99 trillion worth of investments in pipeline power generation construction projects, followed by the Middle East and Africa with $960 billion each. Pipeline power generation projects in Europe and the Americas were valued at $ 739.5 billion and $852.3 billion, respectively. Governments in both developed and developing countries are focusing on building and maintaining a robust energy infrastructure, and it is expected to limit the growth of the generator manufacturing market.

The generator manufacturing market covered in this report is segmented by type into gas generator, diesel generator, and CKD generator.The generator manufacturing market in this report is segmented by capacity into below 75kva, 75-375 kva, 375-750 kva, and above 750 kva.

The generator manufacturing market in this report is segmented by application into stand by, peak shaving, and continuous. The generator manufacturing market in this report is segmented by end user into mining, oil & gas, construction, residential, marine, manufacturing, pharmaceuticals, commercial, and others.

Generator manufacturing companies are increasingly manufacturing portable generators.A Portable generator provides electricity by running a gas-powered/diesel-powered engine that turns an on-board alternator to generate electrical power.

Rising demand for uninterrupted and reliable power supply is increasing the demand for portable generators.Portable generators offer several advantages such as flexibility, and increased ease of use.

The global portable generators market is expected to reach $2.5 billion by 2024 growing at a CAGR of 4.1% through 2019.

In February 2018, Generac Holdings Inc bought Selmec Equipos Industriales for an undisclosed amount.Through this acquisition, Generac Holdings aims to scale up its ottomotors business.

Selmec is a Mexico based leading manufacturer of industrial generators.

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