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Electric Generators Market by Type and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR43083
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The electric generators market share is expected to increase by USD 4.09 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 3.32%.

This electric generators market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers electric generators market segmentations by type (diesel, gasoline, and others) and geography (APAC, Europe, North America, MEA, and South America). The electric generators market report also offers information on several market vendors, including ABB Ltd., Briggs and Stratton LLC, Caterpillar Inc., Cummins Inc., Generac Power Systems Inc., Greaves Cotton Ltd., Honda Motor Co. Ltd., Multiquip Inc., Siemens AG, and Wacker Neuson SE among others.

What will the Electric Generators Market Size be During the Forecast Period?

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Electric Generators Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing demand for uninterrupted power supply among end-users is notably driving the electric generators market growth, although factors such as high maintenance and operation cost of generators may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electric generators industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Electric Generators Market Driver

The increasing demand for uninterrupted power supply among end-users is one of the key factors driving the growth of the global electric generator market. The focus on economic development and increasing investments in industrialization is raising the demand for electric energy across the world.  Most commercial and industrial sectors depend on the continuous and uninterrupted power supply to prevent damage to equipment, loss of service, and data loss. The need for reducing power interruptions has increased investments in improving power infrastructure worldwide. Power disruption in utilities is a major challenge faced by the industrial and commercial sectors. The aging power infrastructure is increasing the strain on power grids. Power outages are caused by natural calamities, failure in power distribution centers, and maintenance shutdown in work facilities has increased across the globe. However, the sudden power outages and shortages because of various reasons are driving the demand for electric generators among end-users. These machines provide an uninterrupted power supply.

Key Electric Generators Market Trend

The focus on technological advances will fuel the global electric generators market growth. The growing demand for power backup solutions during outages across industries and in the commercial sector and the increasing adoption of advanced technologies such as the internet on things (IoT) and artificial intelligence (AI) has increased the opportunity for the growth of advanced electric generators across the globe. The integration of IoT in electric generators eases the maintenance process, which includes testing, monitoring, fixing, and component replacement. IoT is mainly used to manage and maintain electrical equipment or devices, including electric generators. Moreover, IoT-enabled maintenance of DG helps the industrial and commercial sectors to run their businesses effectively by increasing the operational efficiency of the DG. However, IoT integration with DG also helps in the monitoring of the fuel tank to detect fuel theft, ensure refueling, maintain a limit of carbon emission, and monitor engine efficiency. Companies are focusing on developing and offering IoT solutions for DG to minimize the overall capital expenditure and maximize the return on investment (ROI). For instance, Technoton offers diesel generator monitoring solutions for the remote monitoring of diesel generators, including the monitoring of fuel consumption and parameters of engine operations.

Key Electric Generators Market Challenge

The high maintenance and operation cost of generators is a major challenge for the global electric generators market growth. The operation cost of electric generators depends on the type of fuel used and the power load. Gasoline is the most widely used fuel source for generators. The average cost of gasoline is generally between $2.80 and $3.00. A portable electric generator consumes approximately 18 gallons of gasoline. Thus, the average operating cost of an electric generator ranges from $50 to $55 per day. The average cost of diesel generators ranges between $3.15 and $3.20. An electric generator of 20 kilowatt uses approximately 1.6 gallons of fuel per hour. However, the average cost to run the diesel generator generally ranges from $120 to $125. Moreover, the high cost of the operation and maintenance of electric generators and the costs associated with the replacement and fixing of various parts of generators to improve operational efficiency are expected to hamper the growth of the global electric generators market to a certain extent during the forecast period.

This electric generators market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the electric generators market during the forecast period.

Who are the Major Electric Generators Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • Briggs and Stratton LLC
  • Caterpillar Inc.
  • Cummins Inc.
  • Generac Power Systems Inc.
  • Greaves Cotton Ltd.
  • Honda Motor Co. Ltd.
  • Multiquip Inc.
  • Siemens AG
  • Wacker Neuson SE

 

This statistical study of the electric generators market encompasses successful business strategies deployed by the key vendors. The electric generators market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The electric generators market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Electric Generators Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the electric generators market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Electric Generators Market?

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APAC has been exhibiting a significant growth rate for electric generators market vendors. The electric generators market growth in APAC will be faster than the growth of the market in other regions.

The Increasing demand for uninterrupted power supply among end-users will facilitate the radar simulator market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Electric Generators Market?

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The electric generator's market share growth by the diesel segment will be significant during the forecast period. The ability to withstand heavy loads, minimum maintenance requirements, reliability, and cost-effectiveness are the major factors for the increasing adoption of diesel generators for various applications.

This report provides an accurate prediction of the contribution of all the segments to the growth of the electric generators market size and actionable market insights on post COVID-19 impact on each segment.

 

Electric Generators Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 3.32%

Market growth 2021-2025

$ 4.09 billion

Market structure

Fragmented

YoY growth (%)

2.83

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 44%

Key consumer countries

China, US, India, UK, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ABB Ltd., Briggs and Stratton LLC, Caterpillar Inc., Cummins Inc., Generac Power Systems Inc., Greaves Cotton Ltd., Honda Motor Co. Ltd., Multiquip Inc., Siemens AG, and Wacker Neuson SE

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Electric Generators Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive electric generators market growth during the next five years
  • Precise estimation of the electric generators market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the electric generators industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of electric generators market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Heavy electrical equipment

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Type

    • 5.1 Market segments
      • Exhibit 15: Type - Market share 2020-2025 (%)
    • 5.2 Comparison by Type
      • Exhibit 16: Comparison by Type
    • 5.3 Diesel - Market size and forecast 2020-2025
      • Exhibit 17: Diesel - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Diesel - Year-over-year growth 2020-2025 (%)
    • 5.4 Gasoline - Market size and forecast 2020-2025
      • Exhibit 19: Gasoline - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Gasoline - Year-over-year growth 2020-2025 (%)
    • 5.5 Others - Market size and forecast 2020-2025
      • Exhibit 21: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Others - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by Type
      • Exhibit 23: Market opportunity by Type

    6 Customer landscape

    • 6.1 Customer landscape
      • Exhibit 24: Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 25: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 26: Geographic comparison
    • 7.3 APAC - Market size and forecast 2020-2025
      • Exhibit 27: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: APAC - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 29: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 North America - Market size and forecast 2020-2025
      • Exhibit 31: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: North America - Year-over-year growth 2020-2025 (%)
    • 7.6 MEA - Market size and forecast 2020-2025
      • Exhibit 33: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
    • 7.7 South America - Market size and forecast 2020-2025
      • Exhibit 35: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 36: South America - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 37: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 38: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 39: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Vendor landscape
          • Exhibit 40: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 41: Landscape disruption
          • Exhibit 42: Industry risks
        • 9.3 Competitive Landscape

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 43: Vendors covered
          • 10.2 Market positioning of vendors
            • 10.3 ABB Ltd.
              • Exhibit 45: ABB Ltd. - Overview
              • Exhibit 46: ABB Ltd. - Business segments
              • Exhibit 47: ABB Ltd. - Key news
              • Exhibit 48: ABB Ltd. - Key offerings
              • Exhibit 49: ABB Ltd. - Segment focus
            • 10.4 Briggs and Stratton LLC
              • Exhibit 50: Briggs and Stratton LLC - Overview
              • Exhibit 51: Briggs and Stratton LLC - Product and service
              • Exhibit 52: Briggs and Stratton LLC – Key news
              • Exhibit 53: Briggs and Stratton LLC - Key offerings
            • 10.5 Caterpillar Inc.
              • Exhibit 54: Caterpillar Inc. - Overview
              • Exhibit 55: Caterpillar Inc. - Business segments
              • Exhibit 56: Caterpillar Inc. – key news
              • Exhibit 57: Caterpillar Inc. - Key offerings
              • Exhibit 58: Caterpillar Inc. - Segment focus
            • 10.6 Cummins Inc.
              • Exhibit 59: Cummins Inc. - Overview
              • Exhibit 60: Cummins Inc. - Business segments
              • Exhibit 61: Cummins Inc. – Key news
              • Exhibit 62: Cummins Inc. - Key offerings
              • Exhibit 63: Cummins Inc. - Segment focus
            • 10.7 Generac Power Systems Inc.
              • Exhibit 64: Generac Power Systems Inc. - Overview
              • Exhibit 65: Generac Power Systems Inc. - Business segments
              • Exhibit 66: Generac Power Systems Inc. – Key news
              • Exhibit 67: Generac Power Systems Inc. - Key offerings
              • Exhibit 68: Generac Power Systems Inc. - Segment focus
            • 10.8 Greaves Cotton Ltd.
              • Exhibit 69: Greaves Cotton Ltd. - Overview
              • Exhibit 70: Greaves Cotton Ltd. - Business segments
              • Exhibit 71: Greaves Cotton Ltd. – key news
              • Exhibit 72: Greaves Cotton Ltd. - Key offerings
              • Exhibit 73: Greaves Cotton Ltd. - Segment focus
            • 10.9 Honda Motor Co. Ltd.
              • Exhibit 74: Honda Motor Co. Ltd. - Overview
              • Exhibit 75: Honda Motor Co. Ltd. - Business segments
              • Exhibit 76: Honda Motor Co. Ltd. – Key news
              • Exhibit 77: Honda Motor Co. Ltd. - Key offerings
              • Exhibit 78: Honda Motor Co. Ltd. - Segment focus
            • 10.10 Multiquip Inc.
              • Exhibit 79: Multiquip Inc. - Overview
              • Exhibit 80: Multiquip Inc. - Product and service
              • Exhibit 81: Multiquip Inc. – key news
              • Exhibit 82: Multiquip Inc. - Key offerings
            • 10.11 Siemens AG
              • Exhibit 83: Siemens AG - Overview
              • Exhibit 84: Siemens AG - Business segments
              • Exhibit 85: Siemens AG – Key news
              • Exhibit 86: Siemens AG - Key offerings
              • Exhibit 87: Siemens AG - Segment focus
            • 10.12 Wacker Neuson SE
              • Exhibit 88: Wacker Neuson SE - Overview
              • Exhibit 89: Wacker Neuson SE - Business segments
              • Exhibit 90: Wacker Neuson SE – key news
              • Exhibit 91: Wacker Neuson SE - Key offerings
              • Exhibit 92: Wacker Neuson SE - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 93: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 94: Research Methodology
                • Exhibit 95: Validation techniques employed for market sizing
                • Exhibit 96: Information sources
              • 11.4 List of abbreviations
                • Exhibit 97: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The electric generators market market growth will increase by $$ 7.46 bn during 2021-2024.
              The electric generators market market is expected to grow at a CAGR of 5.82% during 2021-2024.
              Technavio has segmented the electric generators market market by type (diesel, gasoline, and others) ,geography (APAC, Europe, North America, and South America) , and geographic (APAC, Europe, North America, and South America).
              ABB Ltd., Briggs & Stratton Corp., Caterpillar Inc., Cummins Inc., Generac Power Systems Inc., Greaves Cotton Ltd., Honda Motor Co. Ltd., Multiquip Inc., Siemens AG, Wacker Neuson SE are a few of the key vendors in the electric generators market market.
              APAC will register the highest growth rate of 51% among the other regions. Therefore, the electric generators market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the electric generators market market growth are:
              • Increasing demand for uninterrupted power supply among end-users

                The focus on economic development and increasing investments in industrialization is raising the demand for electric energy across the world. Most commercial and industrial sectors depend on the continuous and uninterrupted power supply to prevent damage to equipment, loss of service, and data loss. The need for reducing power interruptions has increased investments in improving power infrastructure worldwide. Power disruption in utilities is a major challenge faced by the industrial and commercial sectors. Aging power infrastructure is increasing the strain on power grids. Power outages are caused by natural calamities, failure in power distribution centers, and maintenance shutdown in work facilities has increased across the globe.In January 2020, Puerto Rico was affected by an earthquake with a magnitude of 6.0, which led to severe power outages in the country.In August 2019, a widespread power disruption affected the UK. It was caused by an accidental electricity blackout at the Hornsea offshore wind farm. In July 2019, New York's Long Island and New Jersey in the US faced a massive power outage due to a series of storms and flooding. Residential and commercial sectors were affected due to interrupted power supply.In June 2019, there was a massive power outage in South America, which affected Argentina, Uruguay, and Paraguay, among other countries. This power disruption affected public transport, commercial, and industrial sectors in the abovementioned countries. Sudden power outages and shortages because of various reasons are driving the demand for electric generators among end-users. These machines provide an uninterrupted power supply.

              • Focus on t echnological advances

                The growing demand for power backup solutions during outages across industries and in the commercial sector and the increasing adoption of advanced technologies such as the internet on things (IoT) and artificial intelligence (AI) have increased the opportunity for the growth of advanced electric generators across the globe. Electric generators used for commercial and industrial applications have a fixed life span and limitations related to the input and output of power. The maintenance of electric generators is of high importance as it increases their operational efficiency. The integration of IoT in electric generators eases the maintenance process, which includes testing, monitoring, fixing, and component replacement. IoT is mainly used to manage and maintain electrical equipment or devices, including electric generators. Diesel generators (DG), which are used for industrial, commercial, and household purposes, if managed properly with proper monitoring, can provide reliable and effective service for a long duration. IoT-enabled maintenance of DG helps the industrial and commercial sectors to run their businesses effectively by increasing the operational efficiency of the DG. Tracking, monitoring, and assessment of various parameters of generators, such as running hours, fuel system, lube oil pressure, engine temperature, and battery status, help to understand and improve the operational efficiency of DG. Programmable logic controllers (PLCs) connected with DG help in controlling generator sets and enabled remote monitoring of the generator. The IoT information from PLCs is sent to cloud-based devices, which can help in analyzing the operational condition of the DG. This helps in scheduling the maintenance of DG in time and optimizing the use of consumables such as oil. IoT integration with DG also helps in the monitoring of the fuel tank to detect fuel theft, ensure refueling, maintain a limit of carbon emission, and monitor engine efficiency. Companies are focusing on developing and offering IoT solutions for DG to minimize the overall capital expenditure and maximize the return on investment (ROI). For instance, Technoton offers diesel generator monitoring solutions for the remote monitoring of diesel generators, including the monitoring of fuel consumption and parameters of engine operations.The emphasis on reducing the cost of electricity, complying with carbon emission norms, and the increasing demand for cheap and reliable energy are the major factors boosting the demand for AI. AI helps in low-carbon growth and producing green electricity. The implementation of AI can help in forecasting electricity demand by predicting and managing fluctuations in electricity production.

              The electric generators market market vendors should focus on grabbing business opportunities from the diesel segment as it accounted for the largest market share in the base year.
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