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The global generator sales market size is expected to reach USD 27.16 billion by 2027 backed by the increasing construction expenditure owing to the rapid industrialization that propels the generator sales across the globe. Fortune Business Insights, in its latest report, titled, “Generator Sales Market Size, Share & COVID-19 Impact Analysis, By Power Rating (Below 75 kVA, 75-375 kVA, 375-750 kVA, and Above 750 kVA), By Fuel Type (Diesel, Gas, and Others), By Application (Continuous Load, Peak Load, and Stand By Load), By End User (Mining, Oil & Gas, Construction, Residential, Marine, Manufacturing, Pharmaceuticals, Commercial, Telecom, and Others), and Regional Forecast, 2020-2027.”, mentions that the market stood at USD 20.31 billion in 2019 and is likely to exhibit a CAGR of 5.7% between 2020 and 2027.
Caterpillar Inc. Launches New Diesel Generator Sets to Brighten its Market Prospects
In May 2020, Caterpillar Inc. introduced its new Cat® GC diesel generator sets that is primarily designed to offer the consumers maximum value by delivering optimal performance with minimal footprint. The company presents eight new models that consist of a standby power rating between 250 kW to 600 kW and are engineered to provide high productivity and reliability.
Jason Kaiser, General Manager, Caterpillar Retail Electric Power Solutions, said, “Customers requiring standby power seek systems having an optimized combination of capabilities delivering productivity, while remarkably minimizing installation costs.” Key players like Caterpillar that are constantly striving to introduce advanced products are expected to play a major role in driving the generator sales during the forecast period.
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Increasing Expenditure for Construction Activities to Favor Growth
In August 2020, the U.S. Census Bureau published that the total expenditure on public buildings was estimated to be about USD 353.3 billion in June 2020 from USD 332.8 billion that was for the same corresponding period last year. The fast-paced industrialization and the growing construction activities across the globe are expected to surge the generator sales during the forecast period. Additionally, the increasing focus on developing energy-efficient buildings is expected to drive the global generator sales market during the forecast period.
Major Companies Eye for Collaborations to Amplify Their Market Positions
The global generator sales market size is consolidated by the presence of major companies such as Roll-Royce, Caterpillar Inc., and Wartsila, among others that are focusing on collaborations between each other to boost their generator sales and further consolidate their positions. The other key players are adopting strategies such as the introduction of new products, partnership, and merger and acquisition that is expected to bode well for the market growth in the forthcoming years.
List of the Companies Profiled in the Global Market for Generator Sales:
Further Report Findings:
Table of Segmentation:
Value (USD Billion)
By Power Rating
By Fuel Type
By End User