DUBLIN, Jan. 16, 2020 /PRNewswire/ -- The "Power Generators Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.
This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider generator manufacturing market, and compares it with other markets.
The global power generator manufacturing market was worth $17.4 billion in 2019. It is expected to grow at a compound annual growth of 6.37% and reach $22.2 billion by 2023.
Increasing demand from several industries such as mining, oil and gas, and pharmaceuticals is expected to contribute to the growth of the generator manufacturing market in the forecast period. Generators are used as a source of power backup in many industrial activities.
However in cases where grid infrastructure is absent, generators are used as the only source of power. For example, majority of the mining sites are located in remote locations, and require generators for their day-to-day power requirements. For instance, mining market in India is expected to increase from $105 billion in 2018 to $126 billion in 2022 at a CAGR of 4.63%. Economic growth in emerging markets is increasing the industrial activity which in turn will drive the market for generators in the forecast period.
Government initiatives to promote building and maintaining a robust energy infrastructure will drive the demand for power generation systems which in turn is expected to restrain the market for generators in the forecast period. According to the International Energy Agency (IEA), in 2017, the global electricity industry attracted capital investments of $700 billion. As of 2017, Asia-Pacific was the leading region with $1.67 trillion worth of investments in pipeline power generation construction projects, followed by the Middle East and Africa with $1.16 trillion each. Pipeline power generation projects in Europe and the Americas were valued at $921 billion and $931 billion, respectively. Governments in both developed and developing countries are focusing on building and maintaining a robust energy infrastructure, and it is expected to limit the growth of the generator manufacturing market.
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.
In February 2018, Generac Holdings Inc bought Selmec Equipos Industriales for an undisclosed amount. Through this acquisition, Generac Holdings aims to scale up its ottomotors business. Selmec is a Mexico based leading manufacturer of industrial generators.
Major players in the market are Aggreko, Atlas Copco, Caterpillar Inc., FG Wilson, Kirloskar Electric Co. Ltd., Cummins Inc., Rolls-Royce, Wartsila, Yanmar Co. Ltd., Briggs & Stratton.
Key Topics Covered
1. Executive Summary
2. Power Generators Market Characteristics
3. Power Generators Market Size & Growth
3.1. Global Generator Manufacturing Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Generator Manufacturing Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Power Generators Market Segmentation
4.1. Global Power Generators Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Gas Generator
- Diesel Generator
- CKD Generator
4.2. Global Power Generators Market, Segmentation By Capacity, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Below 75kva
- 75-375 kva
- 375-750 kva
- Above 750 kva
4.3. Global Power Generators Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Stand By
- Peak Shaving
4.4. Global Power Generators Market, Segmentation By End User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Oil & Gas
5. Power Generators Market Regional & Country Analysis
5.1. Global Power Generators Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Power Generators Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Atlas Copco
- Caterpillar Inc.
- FG Wilson
- Kirloskar Electric Co. Ltd.
- Cummins Inc.
- Yanmar Co. Ltd.
- Briggs & Stratton
- Wacker Neuson
- Ingersoll Rand
- Generac Power Systems
- Mitsubishi Heavy Industries
- MTU Onsite Energy
- General Electric
- Honda Siel Power Products Ltd.
- Inmesol S.L.
- MQ Energy Inc.
- Mahindra Powerol
- AKSA Power Generation
- Cooper Corp
- Honda Power Equipment
- Yamaha Motor Pvt. Ltd.
- Powerica Ltd.
- Escorts Group
- Sterling Generators Pvt. Ltd
- Kohler Co.
For more information about this report visit https://www.researchandmarkets.com/r/n85a52
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:http://www.prnewswire.com/news-releases/global-power-generators-industry-report-2020---increasing-demand-from-the-mining-oil--gas-and-pharmaceuticals-industries-spur-market-growth-300988221.html
SOURCE Research and Markets