Market Research Report
Global Generator Market - 2019-2026
|Published by||DataM Intelligence||Product code||943752|
Delivery time: 2 business days
|Global Generator Market - 2019-2026|
|Published: June 22, 2020||Content info:||
Generator is synchronous system with electro-mechanical components. Generator consists of three-phase voltages with stator windings and a rotating magnetic field that rotates at synchronous speed. The stator and rotor are connected with synchronous speed which is determined by the number of poles wound on the stator. Generator is used to convert mechanical energy into electrical energy with the help of rotating magnetic field. The rotor is prime mover which can be run by diesel, gas and duel fuel. The prime mover is run by steam, combustion, hydraulic and reciprocating engine which provides accurate and safe synchronizing every time. The generator is connected to the power system through mechanical and electrical systems tying together. The global generator market valued USD XX million in 2018 and it is expected to grow at a CAGR of XX% to reach USD XX million by 2026.
The market is driven by the rising demand for generator in the end user industry like commercial due to surge in the industrialization around the globe. Furthermore, increasing generator requirements to fulfillment of energy demand of the global also drives the generator market growth in the residential and industrial sectors. As per Organization of Economic Co-operation and Development (OECD), the power generation capacity was 4957 Gigawatts (GW) in 2009 and is projected to reach around 5900 GW by 2030. Hence to fulfill the requirement of global demand of the power the generator market will propel at higher rate during the forecast period.
There is a rise in the launch of new innovative technology generators like with the help of alkaline fuel cell to fulfill the energy the global may create huge opportunity for generator market. For instance, on 12th Feb 2020, AFC Energy has been launched hydrogen-powered mobile generator which utilizes alkaline fuel cell technology. It has the capacity from 20 kW to 1MW designed as per power requirements.
The global generator market is segmented based on type, voltage capacity, application, end user, and region.
In terms of type the global generator market is bifurcated into diesel, gas, and dual fuel. Among this diesel segment has highest share in 2019 owing to increasing demand of electricity in the manufacturing industry which utilizes diesel generator. As per the UNIDO report, the global share of manufacturing industry in GDP was increased from 14.8% to 16% from 1991 to 2014 which impels the growth for generator market.
Similarly, gas and duel fuel segment also increasing at fastest pace owing to surge in the adoption of government support and initiatives for the consumption of duel bio fuel and gases usage in the generator market.
Depending on the Voltage Capacity, the global generator is segmented into 100 kVA, 100-350 kVA, and 351-1000kVA. Among this, 351-1000kVA segment has the highest market share in 2019. This growth is anticipated due rise industrial energy consumption due to industry 4.0 revolution from the developing region like China, India and Brazil.
Similarly, 100 kVA, and 100-350 kVA, segment has the highest market share owing to increase in usage of this capacity generator in the automobile sector as well as for residential consumption.
On the basis of application, the global generator market is divided into Peak Shaving Power, Continuous power and back-up power channel. Among this Continuous power segment has the highest market share in 2019 as it is widely used in the industry to have power without disruption of production line.
Depending on the end-user, the global generator market is classified as commercial, industrial, and residential. Among this industrial sector has the highest share in 2019 as increasing energy demand for the manufacturing facility which require reliable and continuous power supply around the globe.
By region, the global Generator market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, Asia Pacific is dominated the global generator market and expected to grow at the highest CAGR during the forecasted period due to presence of advanced technology adoption and surge in industrialization followed by Middle East region. The Asia-Pacific region is expected to have positive market growth due to the growing technological advancement and rising manufacturing facilities especially in South Asia and Pacific regions in countries such as China, India, and Japan. As per the United Nations Industrial Development Organization in 2017, the developing regions in Asia Pacific accounted for manufacturing value added per capita income was valued around USD 502 which was raised twelve times as compare 2010. Several companies are shifting their manufacturing facilities of generator, etc to Asia Pacific, Middle-East, and Africa region due to the surge in population. The drastic market growth is expected to witness in countries such as UAE, China, and India, the owing to the rapid economic growth because of rise in adoption of industrialization in these countries.
The North America region is growing at moderate pace owing to presence of advanced technology, leading technology players and growing industrialization followed by Europe.
The global Generator market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. Cummins, Caterpillar, Wartsila, Honda, Mitsubishi, and Rolls-Royce are the leading market players with significant market share.
Major players are receiving launching new technology advanced Generator for gaming industry as well as for iPad products. For instance, on 19th Feb 2020, UAV Turbines Company has launched portable and compact turbo generator redefining power use. This generator has military-grade micro-turbine generator platform for on-demand electrical power ranging from 3kW to 40kW. UAVT has extended the use of its micro propulsion technology family.
Companies are entering into the collaborations, acquisitions, mergers, and licensing for increasing their market investment and penetration in the manufacturing of power equipments. For instance, on 6th August 2019, Honda Company has been invested around USD 46 Million to expand the manufacturing capabilities of power equipment plant in North Carolina.
*The global generator market report will provide access to approximately 53 market data tables, 44 figures, and 178 pages.