The global generator sales market is projected to reach USD 26.5 billion by 2026 from an estimated USD 19.9 billion in 2021, at a CAGR of 5.9% during the forecast period. The report titled, “Generator Sales Market by Type (Diesel, Gas), Application (Standby, Peak Shaving, Continuous), Power Rating (<100 KVA, 100-350 KVA, 350-1000-2500 KVA, 2500-5000 KVA, >5000 KVA), Sales Channel (Direct, Indirect), End User, Region – Global Forecast to 2026” is expected to grow from an estimated USD 19.9 billion in 2021 to USD 26.5 billion by 2026, at a CAGR of 5.9% during the forecast period.

COVID-19 to Accelerate Demand for Global Generator Sales Market

The COVID-19 pandemic has impacted the power industry globally. Due to the current scenario, various device manufacture companies across regions have to shut down their manufacturing facilities and services as countries practiced partial or full lockdown strategy to deal with the pandemic. The electricity demand has been reduced significantly due to the COVID-19 pandemic. However, governments across the world were compelled to reduce the business activities in response to minimize the threat of coronavirus. Owing to the decline in the business activities has further negatively impacted generator sales in the short term.

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List of the Companies Profiled in the Global Generator Sales Market:

• Caterpillar (US),
• Cummins (US),
• Rolls-Royce Holdings (UK),
• Atlas Copco (Sweden),
• Mitsubishi Heavy Industries, Ltd. (Japan),
• Yanmar (Japan),
• Generac (US),
• ABB (Switzerland),
• Siemens Energy (Germany),
• Briggs & Stratton (US),
• Wärtsilä (Finland),
• Weichai Group (China),
• Kohler Co. (US),
• Aksa Energy (Turkey),
• Wacker Neuson (Germany),
• Greaves Cotton Limited (India),
• Multiquip Inc.(US),
• Kirloskar Oil Engines Ltd. (India),
• Denyo (Japan),
• Cooper Corp (India),
• Jubaili Bros (UAE),
• Southwest Products (US), 
• Sterling & Wilson (India),
• PCA POWER Co., Ltd (Turkey),
• and Siam Telemach (Thailand)

The leading players are adopting various strategies to increase their share in the generator sales market. Between 2017 and 2021, the companies adopted growth strategies such as new product launches, contracts & agreements, mergers & acquisitions, and expansions to capture a larger share of the generator sales market.

The study involved major activities in estimating the current size of the generator sales market. Exhaustive secondary research was done to collect information on the peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.

Driver: Expanding manufacturing sector in Asia Pacific has driven demand for power generation systems and generators

With rapid urbanization, the demand for goods and services is increasing, which is propelling the growth of the manufacturing sector. According to the ASEAN Economic Community (AEC), the Regional Comprehensive Economic Partnership (RCEP), if successfully implemented, would be a positive step toward a broader Free Trade Area of the Asia Pacific (FTAAP). It can serve as a suitable intergovernmental forum on free trade and boost the growth of various industries as well as supplement the development of the manufacturing sector in the region. Thus, driving the demand for power generation systems and generators in the region.

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Recent Industry Developments:

• In January 2021, HIMOINSA, through its distributor, supplied 1.8 MW of emergency power to the Liipola tunnel in southern Finland. HIMOINSA installed the HTW 2030 T5 generating set capable of providing 2250 kVA in emergency power to start up the tunnel’s lighting and ventilation system in the event of a mains failure.
• In March 2021, Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET) developed a 2,000-kVA diesel generator with the highest output level in a Japanese-made packaged generator, used mainly in facilities as such as factories, hospitals, office buildings, and data centers.
• In November 2021, Rolls-Royce announced investments of up to USD 13.9 million in its Power Systems business unit for the addition of new R&D building and multi-phase expansion of its MTU power generation manufacturing facility in Mankato, Minnesota (US).
• In February 2019, PR Industrial SRL (“Pramac”), a subsidiary of Generac Holdings Inc., acquired Captiva Energy Solutions Private Limited. The aim of the acquisition was to expand the power generation business footprint in India.
• In September 2018, Cummins partnered with Moser Energy Systems to develop and build generators based on Cummins’ rich burn, natural gas G Drive 19–liter engine called the Moser CRC400. The CRC400 lowers the cost and improves remote and emergency power reliability. This generator is made in the US and used by heavy-duty, commercial power applications.

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Asia Pacific Generator Sales Market by Fuel Type (Diesel, Gas), Power Rating (<100kVA, 100-350kVA, 350-1000-2500kVA, 2500-5000kVA, >5000kVA), Application (Standby, Continuous, Peak Shaving), End-User, Country – Forecast to 2025

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