Insights Into The Electric Generators Market’s Growth Opportunities Through 2023-2032 – Includes Electric Generators Market Growth
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Increasing demand from several industries such as mining, oil and gas, and pharmaceuticals are expected to drive innovation in electric generators manufacturing, thus driving the market during the forecast period.
The global electric generators market is expected to grow from $27.8 billion in 2022 to $29.54 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The global electric generators market size is expected to grow to $36.27 billion in 2027 at a CAGR of 5.3%.
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Global Electric Generators Market Segments Include:
- By Type: Gas Generator, Diesel Generator, CKD Generator
- By Capacity: Below 75kva, 75-375 kva, 375-750 kva, Above 750 kva
- By Application: Stand By, Peak Shaving, Continuous
- By End User: Mining, Oil & Gas, Construction, Residential, Marine, Manufacturing, Pharmaceuticals, Commercial, Other End-Users
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global electric generators market in 2021.
Major Market Players in the electric generators market include Aggreko, Atlas CopCo., Caterpillar Inc., FG Wilson, Kirloskar Electric Co. Ltd., Cummins Inc., Rolls-Royce, Wärtsilä, Yanmar Co. Ltd., and Briggs & Stratton.
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.
The Electric Generators Global Market Report 2023 provides a electric generators market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The electric generators market forecast analyzes electric generators market size, electric generators market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The electric generator is defined as a device that converts mechanical energy into electrical energy for applications in external circuits. A generator uses mechanical energy such as steam, gas, and water to convert it into electrical energy for an uninterrupted power supply.
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