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What key factors are powering the surge in the generator sales market right now?

In recent times, there has been a steady increase in the market size for generator sales. The market, which is worth $24.5 billion in 2024, is predicted to rise to $25.3 billion in 2025, with a compound annual growth rate (CAGR) of 3.3%. The increase during the historical period can be linked to power interruptions and grid dependability, outdated infrastructure, industrial expansion, severe weather conditions, and a surge in construction activities.

How fast Is the generator sales market expected to grow, and what’s its future value?

The market size for generator sales is projected to see consistent expansion in the forthcoming years. It is expected to reach a value of $30.04 billion by 2029, growing at a compound annual growth rate (CAGR) of 4.4%. The expected growth during the forecast period can be linked to factors such as the replacement of old generators, energy storage systems, off-grid solutions, advancements in telemedicine and connectivity, and regulatory compliance. The period is expected to see major trends like the advent of smart generators, the rise of hybrid power systems, the development of microgrids, the emergence of grid-interactive generators, increased demand for generator rental services, and the prominence of data-centered generators.

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What are the leading drivers of growth in the generator sales market?

The generator sales market’s growth is anticipated to be fuelled by the escalating demand for telecommunications. Several factors contribute to this increasing demand for telecommunications, including the growing need for communication and collaboration, increased expenditure, the upsurge of electronic devices, technological advancements, governmental push, and more. The burgeoning demand for telecommunications inevitably leads to a greater requirement for generators given their essential role in maintaining a steady and reliable power supply for telecommunication infrastructures like telecom stations and data centers, and telecom equipment like electronic machines and computers. A report by the Indian Brand Equity Foundation (IBEF), a government export promotion agency in India, indicated an increase in rural subscriber teledensity from 59.14% in July 2020 to 60.33% in July 2021. Furthermore, by 2026, it is projected that India will have around 350 million 5G subscriptions, accounting for approximately 27% of all mobile subscriptions. With this in view, it is clear that the burgeoning demand for telecommunications will steer the expansion of the generator sales market.

What are the key segments defining the generator sales market?

The generator sales market covered in this report is segmented –

1) By Fuel Type: Diesel, Gas, Other Types

2) By Sales Channel: Direct, Indirect

3) By Application: Standby, Prime And Continuous, Peak Shaving

4) By End User: Industrial, Commercial, Residential

Subsegments:

1) By Diesel: Portable Diesel Generators, Standby Diesel Generators, Industrial Diesel Generators

2) By Gas: Natural Gas Generators, Propane Generators, Biogas Generators

3) By Other Types: Dual-Fuel Generators, Solar Generators, Hydrogen Generators

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Who are the key players steering the development of the generator sales market?

Major companies operating in the generator sales market include Kohler Co., Mitsubishi Heavy Industries Ltd., Rolls-Royce Holdings plc, Siemens AG, Toshiba Corporation, Caterpillar Inc., Cummins Ltd., Generac Holdings Inc., AKSA Power Generation, Briggs & Stratton Corporation, Atlas Copco AB, Aggreko PLC, MAN Energy Solutions SE, Ingersoll Rand Inc., American Honda Motor Corp., Inmesol S.L.U., Daihatsu Diesel Mfg. Co. Ltd., Wärtsilä Oyj Abp, Zwart Techniek BV, Wacker Neuson SE, Kirloskar Oil Engines Limited, Doosan Portable Power, Yanmar Co. Ltd., Deere & Company, Kirloskar Electric Company, Sterling Generators Pvt. Ltd., Mahindra Powerol Ltd., Sudhir Power Ltd., Ashok Leyland Ltd., Perkins Engines Company Limited

What emerging trends are influencing the growth of the generator sales market?

The generator sales market is experiencing a rise in popularity due to the prominence of technological advancements. This market is seeing the emergence of cutting-edge generators that utilise advanced sustainable technologies such as hydrogen fuel cell generators among others. These innovations provide sustainable, consistent, and efficient power supply/backup, cost reductions, minimal maintenance, among other benefits. To meet customer demands and solidify their position in the market, prominent market players are focused on providing generators armed with groundbreaking technologies. For example, in September 2024, India’s automobile manufacturing company, Mahindra & Mahindra, introduced a new line of CPCB 4+ Diesel Generators to their existing Mahindra Powerol range. This new line features generators with capabilities ranging from 10VA to 320kVA and is engineered to adhere to the latest emission standards set by India’s Ministry of Environment, Forest and Climate Change.

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Which regions are most influential in expanding the generator sales market?

Asia-Pacific was the largest region in the generator sales market in 2024. The regions covered in the generator sales market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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