5 mins read
Generator Market to Reflect Impressive Growth Rate by 2026
Global Generator (Up to 20 kVA) Market: Key Highlights
- The global generator (up to 20 kVA) market was valued at ~US$ 2.2 Bn in 2018, and is anticipated to expand at a CAGR of 5.5% during the forecast period.
- Among the fuel types, the diesel segment accounted for a major share of the global generator (up to 20 kVA) market in 2018. Diesel generators are the primarily employed generators across the globe.
- Among the power ratings, the 16 kVA – 20 kVA segment held a significant share of the global generator (up to 20 kVA) market in 2018, due to the high use of 16 kVA – 20 kVA generators and flexibility in fuel usage, ease of installation, and diverse range of applications offered by these generators in commercial and small industrial sectors across the world.
- Among the types, the portable generator segment held a dominant share of the global generator (up to 20 kVA) market in 2018, due to the high operational flexibility and diverse applications offered by portable generators in residential and commercial sectors.
- Among the applications, the standby segment held a significant share of the global generator (up to 20 kVA) market in 2018.
- Among the end users, the residential segment held a major share of the global generator (up to 20 kVA) market in 2018.
- Asia Pacific is estimated to offer immense growth potential to the global generator (up to 20 kVA) market in the next few years, due to the significant demand for up to 20 kVA gensets in the telecom sector in the region.
Key Drivers and Restraints of Global Generator (Up to 20 kVA) Market
- The requirement for up to 20 kVA generators in the residential and commercial sectors in the Middle East & Africa and Latin America is rising, due to the sluggish rate of electrification, growing off-grid areas, and sluggish economic growth of these regions. In Sub-Saharan Africa, the urban electrification rate is 60% and the rural electrification rate is 14%, which encourages the use of backup generators to meet power requirements in rural as well as urban areas. More than 77% of people in the Middle East & Africa and Latin America live without access to grid-connected electricity. This factor drives the generator (up to 20 kVA) market in these regions. Thus, growing off-grid areas and growth of the telecom sector in the Middle East & Africa and Latin America are expected to drive the generator (up to 20 kVA) markets in these regions during the forecast period.
- Developed regions such as North America and Europe have accomplished total electrification several years ago. Currently, the power infrastructure in these regions lacks technological advancements as well as load-carrying capacity, resulting in power failures and fluctuations. Growing fluctuations in power supply and high demand for uninterrupted power supply drive the generator (up to 20 kVA) markets in North America and Europe.
- However, a majority of generators with up to 20 kVA power rating across the globe are diesel generators. Growing environment-related concerns such as air pollution and noise pollution are likely to restrain the global generator (up to 20 kVA) market during the forecast period.
Asia Pacific Highly Lucrative Market for Generators (Up to 20 kVA)
- Asia Pacific dominates the global generator (up to 20 kVA) market. Asia Pacific consumes almost 30% of these generators produced across the world, which makes the region a major consumer of gensets. High consumption in the region is attributable to rise in the demand from the residential, telecom, rural, agriculture, and commercial sectors in Asia Pacific.
- North America is another major region in the global generator (up to 20 kVA) market. The U.S. holds a major share of the generator (up to 20 kVA) market in North America, in terms of both, volume and revenue. Most of the demand for up to 20 kVA generators in North America comes from the small commercial and residential sectors in the region, led by aging power infrastructure, incidence of natural calamities, and rising power fluctuations in the region.
Global Generator (Up to 20 kVA) Market: Key Developments
- In April 2018, Caterpillar Inc. announced the introduction of the dynamic gas blending (DGB) dual-fuel technology for diesel generator sets for unregulated emission applications in Latin America and other markets around the world.
- In June 2016, Briggs & Stratton Corporation launched Fortress standby generator systems for residential customers, with a capacity of 10–60 kW.
- In May 2016, Briggs & Stratton Corporation launched the 8,000-W Elite Series, the world’s first Bluetooth-portable generators. These generators are equipped with StatStation branded wireless Bluetooth devices, which makes them convenient for customers to monitor these generators from the inside of their homes.
Global Generator (Up to 20 kVA) Market: Competition Landscape
- The global generator (up to 20 kVA) market is highly fragmented, with the presence of a large number of players.
- Rise in technological advancements, strong brand recognition, strong position of established players, and strict government regulations pose a barrier to the entry of new players in the global generator (up to 20 kVA) market.
- Key players operating in the global generator (up to 20 kVA) market are Yamaha Motor Corporation, Cummins Inc., Kohler Co., Generac Holdings Inc., Caterpillar Inc., Honda Siel Power Products Ltd, Su-Kam Power Systems Ltd, KOEL Green, Greaves Cotton Limited, FG Wilson, Mahindra Powerol, and Jakson Group.
Analysis of Potential Impact of COVID-19 on Global Generator (Up to 20 kVA) Markethttps://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=12866
Explore Transparency Market Research’s award-winning coverage of the global Chemicals and Materials Industry:https://www.prnewswire.com/news-releases/increasing-demand-for-automobiles-tires-to-drive-valuation-of-global-resorcinol-formaldehyde-latex-market-to-us-730-mn-by-2030-301061553.html
