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Industrial Generator Market Size

Report ID: GMI3354
Published Date: Sep 2023
Report Format: PDF

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Industrial Generator Market Size

Industrial Generator Market size was valued at USD 19.9 billion in 2023 and is estimated to register 7.3% CAGR between 2024 and 2032.

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An industrial generator, also known as an industrial backup generator or industrial standby generator, is a piece of equipment designed to provide electrical power during periods of electrical grid failure or when a reliable source of electricity is needed in industrial settings. These generators are typically larger and more robust than residential or portable generators, as they are intended to supply power to commercial and industrial facilities, such as factories, hospitals, data centers, and large-scale construction sites.

Industrial Generator Market Report Attributes
Report Attribute	Details
Base Year:	2023
Industrial Generator Market Size in 2023:	USD 19.9 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	7.3%
2032 Value Projection:	USD 37.6 Billion
Historical Data for:	2019 to 2023
No. of Pages:	450
Tables, Charts & Figures:	1,390
Segments covered:	Power Rating, Fuel, End Use, Application
Growth Drivers:	North America & Europe Increasing intensity & frequency of weather-related disasters Aging grid infrastructure Positive outlook for the mining industry Resurgent growth across the automotive production sector Asia Pacific Robust manufacturing sector across ASEAN economies Rapid industrialization & infrastructure development Africa Unreliable grid infrastructure coupled with rapid population growth Ongoing construction boom
Pitfalls & Challenges:	High capital, installation & maintenance costs Shifting trends toward renewable power generation

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market valuation of industrial generator was exceeded USD 19.9 billion in 2023 and is estimated to surpass USD 37.6 billion by 2032, owing to the increasing intensity & frequency of weather-related disasters.

The manufacturing sector holds a market share of over 25% in 2022. The facilities are incorporating renewable energy sources, such as solar panels and wind turbines, in combination with traditional generators to reduce operating costs and environmental impact, driving the product adoption.

The diesel generator industry is set to surpass USD 20 billion by 2032 as these generators offer several advantages, such as scalability, flexibility, and the ability to operate regardless of weather conditions.

Deere & Company, Ashok Leyland, Greaves Cotton Limited, MITSUBISHI HEAVY INDUSTRIES, LTD., Wärtsilä, Cummins, Inc., Kirloskar, Kohler Co., Powerica Limited, Genset India Pvt Ltd., and Generac Power Systems among others.