The new report by Expert Market Research titled, ‘Global Generators Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global generators market, assessing the market based on its segments like types, power generation, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Get a Free Sample Report with Table of Contents: https://www.expertmarketresearch.com/reports/generators-market/requestsample
The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 60.5 Billion
- Forecast CAGR (2022-2027): 4.80%
- Forecast Market Size (2027): USD 80.1 Billion
The growing demand for efficient and uninterrupted power supply in various industries and other sectors owing to rapid urbanisation is driving the market for generators. The frequent blackout in several developed regions plays a critical role in the incremental growth of the industry. The development of energy-efficient infrastructures is also augmenting the generators industry. Moreover, the work from home trend owing to the pandemic is leading to the bolstering of the industry in the household sector. The various product launches also offer lucrative opportunities for the industry players, thus invigorating the market. Furthermore, the extreme weather conditions due to global warming prompt many to adopt generators, which is bolstering the market.
Industry Definition and Major Segments
Generators convert mechanical energy into electrical power in the form of voltage and current for transmission to domestic, commercial, and industrial sectors. They work on the principle of electromagnetic induction. There are two main types of generators – alternating current and direct current generators. The components of generators include alternator, engine, fuel system, cooling system, exhaust system, main assembly, among others.
The generators industry, by type, can be bifurcated into:
- AC Motors
- DC Motors
Based on power generation, the market is segmented into:
- Thermal
- Hydro
- Nuclear
- Wind
- Others
The regional markets of generators include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/generators-market
Market Trends
The government schemes such as the Deendayal Upadhyaya Gram Jyoti Yojana in emerging countries like India and across the globe aims towards providing a smooth flow of electricity to all parts of the region, including rural areas. Such initiatives are bolstering the generators industry. The launch of innovative generators by companies to meet customer expectations and to escalate their market potential is also contributing to the steady growth of the generators industry. For instance, Himoinsa, a multinational company, announced the launch of HIW generator sets in the market that are soundproofed, capable of bearing extreme conditions, and possess excellent productivity levels. Moreover, the research activities and the investments by industry players to develop self-contained generators that do not run-on fossil fuels and are sustainable are also expected to propel the generators industry in the forecast period.
Key Market Players
The major players in the market are ABB Ltd, Siemens AG, Nidec Corporation, Cummins Inc., Caterpillar Inc., Mitsubishi Heavy Industries, Ltd., and Atlas Copco, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
About Us:
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company’s expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Media Contact
Company Name: EMR Inc.
Contact Person:- Jessica Lucas, Business Consultant
Email: sales@expertmarketresearch.com
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, US
City: Sheridan
State: Wyoming
Country: United States
Website: https://www.expertmarketresearch.com
Explore more on Procurement Intelligence services of EMR Inc.
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
