Industrial Generator Market (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, Diesel, Transport & Logistics, Others; By Application: Standby, Peak Shaving, Prime/Continuous; By Fuel: Diesel, Gas, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global industrial generator market size was exhibited at USD 18.69 billion in 2022 and is projected to hit around USD 32.02 billion by 2032, growing at a CAGR of 19.72% during the forecast period 2023 to 2032.

Key Pointers:

• Due to rising demand from mining operations and expanding infrastructural expansions, a > 750 kVA generating segment is projected to grow at a 6.4% CAGR through 2032. 
• In 2029, the commercial garnering market for use in the oil and gas industry was worth USD 3.9 billion. 
• Due to the robust infrastructure development & rebounding industry, the standby application section of the industrial generators market is predicted to exceed USD 8 billion by 2032. 
• The market for diesel industry generators is anticipated to grow at a CAGR of much more than 6.5% through 2032.  
• The Asia Pacific commercial generators market accounted 61% of total revenue in 2022.

Industrial Generator Market Report Scope

Increasing demand for energy globally far outstrips the supply. Factors such as continuous population growth, infrastructure development, and rapid industrialization in emerging economies are pacing the power demand. Diesel generators have numerous advantages such as low operating costs and better fuel efficiency. Thus, they are much more popular in developing regions, especially in the Asia Pacific region. Along with its advantages, it had many other drawbacks which include noise pollution, and emissions of hazardous gases. The World Nuclear Association has projected that the electricity requirement is expected to double the current consumption. According to the U.S. Department of Energy, solar energy will be the most abundant energy source available.

Significant growth in the economies of major developing nations such as India, Brazil, and others is expected by 2050. India is expected to grow from being the third largest to the second largest economy in the world, only after China in terms of GDP at PPP (purchase power parity).Countries such as Brazil, India, and South Africa are already suffering due to low power supply. Emerging economies are expected to account for 65% of the global economy.

The market in the U.S. is anticipated to witness substantial growth owing to rising costs of power outages across several IT-enabled service firms and data centers along with growing consumer awareness toward the requirement for reliable emergency power supply. In addition, the market is also driven by the rising vulnerability of grid power stations to disasters caused by changing weather conditions across the region.

Solution providers across the diesel generator market are primarily responsible for generator system manufacturing, installation, maintenance, and repair. Generator dealers or electrical contractors establish product supply and maintenance contracts with end-market consumers present across commercial places, residential places, and small-size companies using generators as emergency power backup systems. Moreover, companies also assign an in-house monitoring engineer to supervise a large number of generators in industrial-scale operations.

Stringent government regulations regarding the reduction of harmful carbon emissions are expected to boost the penetration of gas-based generators over diesel generators. This trend is anticipated to restrict the market demand for diesel generators across all the end-use sectors. However, low operating costs and low initial investment are among the key factors sustaining the current requirement for diesel generator sets.

Some of the prominent players in the Industrial Generator Market include:

• ABB (Germany), 
• AGCO Corporation
• Aggreko PLC.
• AKSA power generation company
• Ashok Leyland (India), 
• Atlas Copco (Sweden), 
• Briggs & Stratton (US), 
• Caterpillar (US), 
• Cooper Corp (India), 
• Cummins (US), 
• Deere & Company, 
• Denyo Co. Ltd (Japan), 
• Doosan Portable Power
• FG Wilson Inc.; 
• Generac Power Systems Inc. (U.S.), 
• Genset India, 
• Greaves Cotton Limited (India), 
• Himoinsa
• Honda India Power Products Ltd.
• Jackson
• JCB, 
• JS Power (U.K.), 
• Jubaili Bros (UAE), 
• Kirloskar Electric Company (India), 
• Kohler Co. (US), 
• Kubota Corporation
• Mahindra Powerol, 
• Mitsubishi Heavy Industries Ltd (Japan), 
• Multiquip Inc.
• Powerica, 
• Rolls-Royce Holdings (UK), 
• Siemens (Germany), 
• Southwest Products (US), 
• Sterling & Wilson (India), 
• Supernova Gensets, 
• Sutton Power Engineering (U.K.), 
• Wacker Neuson (Germany), 
• Wartsila Corporation; 
• Weichai Group (China), 
• Yanmar Co Ltd (Japan)

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Industrial Generator market.

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
• Diesel
• Transport & Logistics
• Others

By Application

• Standby
• Peak Shaving
• Prime/Continuous

By Fuel

• Diesel
• Gas
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)