Latest News- Generator Market: Stationary is expected to lead the Type segment during 2025-2029

The Generator Market is being driven by Rapid industrialization and growing construction equipment

The Generator Market is expected to grow at a CAGR of 8.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 24368.8 million. The global generator market is poised for significant growth due to the increasing energy deficit faced by numerous countries. Developed nations like the US, the UK, and Japan, as well as emerging economies such as China, and developing regions including Southeast Asia and the Arab States of the Gulf Cooperation Council (GCC), are experiencing substantial power production and consumption disparities. Moreover, industrialization in rural areas has led to a surge in demand for industrial power, further increasing the necessity for a reliable and continuous power supply. These factors are anticipated to create lucrative opportunities for the generator market during the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Stationary
  • Portable
• End-user
  • Industrial
  • Commercial
  • Residential
• Fuel Type
  • Diesel
  • Gas
  • Dual fuel
  • Propane
  • Hybrid
• Power Rating
  • 350 kVA to 1000 kVA
  • 100 kVA to 350 kVA
  • Below 100 kVA
  • Above 1000 kVA
• Application
  • Backup power
  • Continuous power
  • Peak shaving power
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • Middle East and Africa
    • Nigeria
  • North America
    • US
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rapid industrialization and growing construction equipment
• Growing instances of power grid failure
• Increasing incidence of natural calamities causing power outages

However, the market also witnesses some limitations, which are as follows:

• Rising adoption of green energy technologies
• Emerging alternative backup power equipment
• Presence of stringent emission regulations for diesel engines

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Market Scope in Generator Market Research Report

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Research Analysis Overview

In the context of industrialization and urbanization, the demand for power generation has grown significantly in various sectors. Generators, including gensets, have become essential for powering remote locations, rural areas, construction sites, mining operations, manufacturing plants, and more. Diesel generators are popular choices for oilfield projects, residential, commercial, agricultural, and public buildings. Industry dynamics and strategy planning require an understanding of energy sources, mechanical and electrical energy, electromagnetic induction, prime movers, rotors, and stators in generator technology. Urbanization, construction, and manufacturing drive the need for increased power capacity, while rural areas and remote locations rely on generators for essential electrical energy.

Market Research Overview

The global heavy electrical equipment market is a significant sector in manufacturing, supplying essential equipment to industries including power, mining, oil and gas, and agriculture. This market encompasses companies producing components and equipment for power generation, distribution, and transmission in fixed-use and large electrical systems. According to Technavio, market size is determined by the consolidated revenue of electrical component and heavy electrical equipment manufacturers, such as electric cables, batteries, batteries storage, bi-fuel generators, communication systems, and various other components. Factors driving market growth include the increasing frequency of power outages due to natural disasters in regions like MEA, Europe, and APAC, which necessitate the adoption of alternative fuel sources and battery storage systems for uninterrupted power supply. Additionally, the growing demand for sustainable energy solutions and the need for efficient communication systems in construction and industrial sectors will further propel market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: media@technavio.com
Website: www.technavio.com/