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Industrial Generator Market Size, By Power Rating (≤ 75 kVA, > 75 kVA - 375 kVA, > 375 kVA - 750 kVA, > 750 kVA), By End-Use (Oil & Gas, Manufacturing, Construction, Electric Utilities, Mining, Transport & Logistics), By Application (Standby, Peak Shaving, Prime/Continuous), By Fuel (Diesel, Gas), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2030

  • Report ID: GMI3354
  • Published Date: Apr 2022
  • Report Format: PDF

Industry Trends

Industrial Generator Market size exceeded 12 billion in 2021 and is projected to grow at a CAGR of over 6.7% between 2022 and 2030. The global annual installation is expected to reach 430 thousand units by 2030. The increasing dependency on electricity and security of supply will stimulate the market demand for industrial generators.
 

Industrial Generator Market Overview

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Stringent environmental compliances toward energy efficiency and rising focus on cleaner sources will boost the industrial generator market growth. The growing demand for continuous and reliable power supply from end-users including manufacturing facilities, oil & gas, mining, and construction sites will favor the industry scenario. Stringent government compliances along with a paradigm shift toward chronic outages will positively influence the industry progression.
 

The world has been hit hard by an unpredicted outbreak of COVID-19. The ongoing impact has resulted in a substantial decline in the capital expenditure for the expansion of construction and power generation activities, which in turn, has also affected the industry revenue. Furthermore, the nationwide immunization process, following the successful development of vaccines will positively impact the market outlook.
 

Wide-scale utilization across mining activities will augment the > 750 kVA industrial generator market

Industrial Generator Market Size

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The > 750 kVA generator segment is predicted to observe a 6.1% growth rate till 2030 due to the rising demand across mining activities coupled with increasing infrastructure developments. These units form an adequate solution to run heavy-duty equipment including cranes, excavating machinery, and conveyor belts. Moreover, increased utilization of these on-site units in remote off-grid locations to power advanced drilling equipment will support the industry expansion.
 

Infrastructure development & ongoing construction boom will positively sway the > 75 kVA - 375 kVA generator market. The construction sector is a key end-user of these gensets as it requires power for the continuous operation of job site equipment and tools. The increasing applicability of these units for supplying power to work sites where there is no electricity access will spur the business scenario.
 

Booming oil & gas sector will propel the market revenue

The industrial generator market for oil & gas application accounted for USD 2.5 billion in 2021. Wide-scale utilization of this product for backup power supply across O&G fields and job sites will sustain the dominance of these generators. The robust deployment of on-site gensets across remote locations to power drilling equipment will escalate the industry demand. The growing penetration of critical electronic load along with the rising demand for consistent & reliable power supply will accelerate the market expansion.
 

Manufacturing industries are slated to foster the product deployment owing to a surging demand for constant power supply to operate a production line. Additionally, delays in schedules, raw-material wastages, and unmet targets are other repercussions of unexpected blackouts in a production facility, which, in turn, will proliferate the product demand. The product offers key advantages including enhanced capacity, high durability, and low volatility rate, thus driving the business potential.
 

Ongoing government electrification programs will drive the industry trend of standby generators

The standby application segment in the industrial generator market is anticipated to reach USD 7 billion by 2030 on account of the robust infrastructural development and resurgent industrialization. The wide-scale utilization across power utilities, mines, and construction sites will spur the business landscape. These units are majorly deployed when there is a limitation on the amount of electricity that can be drawn from the power grid.
 

Increasing government programs for improving electrification rates will substantially entail the use of prime power units. These systems are further used to support the main grid or integrate with renewable power sources to reinforce the intermittent supply of electricity.
 

Easy availability & weather-independent operations will energize the diesel-powered generators segment

The diesel industrial generator market is estimated to attain a CAGR of more than 6.4% through 2030. These units deliver key benefits including scalable, flexible, and weather-independent operation, escalating the business growth. In addition, low up-front costs and round-the-clock power availability are the key factors accelerating the industry landscape. The ongoing industrial revolution will lead to a significant rise in power requirements for operating industries, which in turn, will institute favorable industry growth.
 

APAC region is poised to dominate the overall market scenario

APAC Industrial Generator Market

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Asia Pacific industrial generator market held 60% of revenue share in 2021. The inability of electrical grids to sustain an amplified demand along with the proliferation of industrial establishments will positively impact the market progression. Large-scale expansion of the manufacturing sector coupled with frequent power failures will stimulate the business outlook. Moreover, increasing production and financial losses associated with outages along with the growing significance of reliable backup power solutions will complement the industry value.
 

Product innovations & developments will act as a key point for market participants

Companies operational across the industrial generator market include Cummins, Kirloskar Oil Engines, Kohler SDMO, Generac Power Systems, Powerica, Genset India, Sterling Generators, HIMOINSA, Caterpillar, Atlas Copco, Supernova Gensets, JCB, Mahindra Powerol, Deere & Company, Ashok Leyland, Greaves Cotton, Mitsubishi Heavy Industries, and Wärtsilä. These players are focusing on digital advancements while forming mergers and acquisitions to meet the industry competition.
 

The industrial generator market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2018 to 2028 for the following segments:

Market, By Power Rating

  • ≤ 75 kVA
  • > 75 kVA - 375 kVA
  • > 375 KVA - 750 kVA
  • > 750 kVA

Market, By End-use

  • Oil & Gas
  • Manufacturing
  • Construction
  • Electric Utilities
  • Mining
  • Diesel
  • Transport & Logistics
  • Others

Market, By Application

  • Standby
  • Peak Shaving
  • Prime/Continuous

Market, By Fuel

  • Diesel
  • Gas
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Russia
    • UK
    • Germany
    • France
    • Spain
    • Austria
    • Italy
  • Asia Pacific
    • China
    • Australia
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
    • Thailand
    • Vietnam
    • Philippines
  • Middle East
    • Saudi Arabia
    • UAE
    • Qatar
    • Turkey
    • Iran
    • Oman
  • Africa
    • Egypt
    • Nigeria
    • Algeria
    • South Africa
    • Kenya
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Chile

 

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of industrial generator exceeded USD 12 billion in 2021 and is estimated to expand at a CAGR of 6.7% from 2022 to 2030 owing to the rising dependency on electricity and the security of supply.

Asia Pacific accounted for 60% of the market share in 2021 and will expand with the escalating inability of electrical grids for the sustenance of an amplified demand.

The market for diesel generators is poised to grow at a CAGR of 6.4% through 2030 driven by key benefits such as weather-independent, flexible, and scalable operation.

Leading players in the industry are Atlas Copco, Kirloskar Oil Engines, Ashok Leyland, JCB, Cummins, Greaves Cotton, Caterpillar, Mitsubishi Heavy Industries, and others.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 18
  • Tables & Figures: 1308
  • Countries covered: 36
  • Pages: 680

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