The report, now available on ASDReports, "Generator Sales Market by Type (Diesel, Gas), Application (Standby, Peak Shaving, Continuous Power), Power Rating (<100 kVA, 100–350 kVA, 350–1,000 kVA, >1,000 kVA), End-User (Residential, Commercial, Industrial), and Region - Global forecast to 2023", The generator sales market is expected to grow from an estimated USD 20.93 Billion in 2018 to USD 27.24 Billion by 2023, at a CAGR of 5.41%, during the forecast period. The market is set to grow due to the increasing demand for uninterrupted and reliable power from all end-users, as some of the best power grids are also subject to downtime.
The diesel segment is expected to be the largest generator sales market in 2018.
The diesel fuel-operated generator segment is expected to dominate the generator sales market during the forecast period. Long running life, easy parts and fuel availability, capacity to handle varying loads, and quick response time have helped the diesel generator market to acquire the largest share. This segment is primarily driven by the increased demand for standby power from data centers, IT facilities, and healthcare infrastructure.
The industrial segment is expected to be the largest market for generators sales, by end-user, during the forecast period.
The industrial end-user segment is expected to lead the generator sales market in 2018 and projected to grow at the highest CAGR during the forecast period. The growth of the industrial end-user segment can be attributed to the rapid industrialization in developing countries such as India, Bangladesh, Taiwan, Algeria, and Nigeria.
The standby segment is expected to lead the generator sales market.
The standby segment of the generator sales market, by application, is expected to be the largest in 2018. The increasing demand for uninterrupted and reliable power and stringent building codes and safety guidelines for critical infrastructure are expected to drive the standby generator sales segment during the forecast period.
Asia Pacific is expected to lead the generator sales market during the forecast period.
In this report, the generator sales market has been analyzed with respect to 5 regions, namely, Asia Pacific, North America, Europe, South America, and the Middle East & Africa. Asia Pacific is expected to lead the generator sales market, by region, during the forecast period. Asia Pacific is home to many developing countries such India, Bangladesh, and Taiwan. The growing manufacturing sectors in these countries is expected to be the main driver. Also, the growth of the IT and healthcare sectors in China, Australia, India, Singapore, and South Korea has played a significant role in the growth of the generator sales market in Asia Pacific.
For an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the generator sales market. These include Caterpillar (US), Cummins (US), Rolls-Royce (UK), Mitsubishi (Japan), Yanmar (Japan), and Kohler (US). These players are trying to understand the markets in developing economies and are adopting various strategies to increase their market shares.
Read more on ASDReports!
Source: ASDReports - Market Research
Date: Feb 19, 2018