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Stationary Generators Market Size, Share and Industry Analysis, By Fuel (Diesel, Gas, and Others), By Power Rating (Below 75kVA, 75-375kVA, 375-750kVA, Above 750kVA), By Application (Continuous Load, Peak Load, Standby Load), By End-User (Mining, Oil & Gas, Construction, Residential, Marine, Manufacturing, Pharmaceuticals, Commercial, and Others), and Regional Forecast, 2019 – 2026.

Region : Global | Format: PDF | Report ID: FBI102564

 

KEY MARKET INSIGHTS

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The global stationary generators market size stood at USD 15.28 billion in 2018 and is projected to reach USD 24.03 billion by 2026, exhibiting a CAGR of 5.9% during the forecast period.

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Electricity is one of the most crucial components of the economic development of the world. The available grid infrastructure is inadequate to meet the growing demand for power. Stationary generators are essential to avoid frequent power outage and gain access to an uninterrupted power supply. Furthermore, rising mining and exploration activities, along with massive infrastructure development across the world, are likely to boost the stationary genset market growth.


MARKET TRENDS


Exponential Infrastructure Development to Provide Impetus to the Market


Tremendous investment by emerging and developed countries in the road, rail, and airport infrastructure are set to boost the demand for stationary gensets. Moreover, growing trade among countries allowing investors to invest in the expansion of the business, which likely is to increase the demand from the construction sector. Consequently, the exponential construction activities for building commercial spaces are likely to bode well for the market. Furthermore, massive population growth and urbanization are augmenting the growth of the market.


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Rising Exploration Activities to Meet the Growing Demand for Fossil Fuels


Conventional fuel is vital in varied industry verticals such as transportation, manufacturing, chemicals, and power generation, among others. Sizeable growth in industries, coupled with population growth, is set to offer lucrative market opportunities. Besides, colossal mining activities around the world to meet the growing requisition for mineral and metals required in pharmaceuticals, automotive, spaces, and aviation, chemicals, etc. are projected to leverage the demand for stationary gensets.


MARKET DRIVERS


Inadequate Power Infrastructure Set to Boost the Demand for Stationary Generators


Electricity is an integral part of daily life, but millions of people across the world live in the dark due to inadequate grid infrastructure. Consistent population growth and expansion of urban areas are straining the available grid infrastructure. Subsequently, stationary generators are being increasingly used to gain access to an uninterrupted power supply and avoid frequent power outages. Following this trend, the stationary generators market expected to see a positive outlook in the forthcoming years.


Extensive Economic Growth Around the World Inflate the Electricity Demand


The global economy is witnessing sizeable growth in the last couple of decades owing to advancements in technology. Innovative technologies are providing ample opportunities in different industry verticals. Revolutionary technologies such as the internet and information & communication technology have rejuvenated business models across the world. Hence, rising exchange of consumer goods and businesses has led to significant growth in infrastructure, transportation, commercial, and industrial sectors. These factors are increasing the demand for electricity, resulting in increased adoption of stationary generators for reliable power supply.


MARKET RESTRAINT


Growing Investment in Utility Sector and Rising Adaption of Clean Energy Technology


Increasing investment in the utility sector to provide a reliable and uninterrupted power supply which is anticipated to impede the market size. International and local governments are working together to enhance the grid infrastructure to meet the growing demand for electricity. Also, the growing concern over rising greenhouse gas emissions (GHGs) to provide impetus to renewable energy technology. This will certainly limit the scope of the market for the expansion of the stationary generators.


SEGMENTATION


By Fuel Analysis


Diesel to Dominate the Fuel Segment


Different types of fuels are used to run a stationary generators, mainly diesel, gas, and others. Diesel fuel accounts for a substantial share in this market on account of high fuel economy, lower taxes & government subsidies, suitability for different engines, and highly reliable performance.


By Power Rating Analysis


High Industrial Growth to Bode Well for Above 750kVA Power Rating


Industrial equipment and machinery require high power to carry out heavy operations such as excavation, drilling, transportation of material, etc. The expansion of industries around the world on account of massive economic growth set to increase the demand for high power rating generators. Also, increasing demand for consumer goods is likely to leverage production, which ultimately increases the demand for electricity. These factors set to boost the above 750kVA segment.


By Application Analysis


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Demand for Uninterrupted Power Supply Set to Drive The Continuous Load Segment


Reliable and continuous power supply requirements to carry out mining, exploration, and construction activities. The immense demand for fossil fuel, minerals, and metals in varied industries is likely to stretch opportunities for the continuous load segment. Moreover, the deployment of stationary generators for power generation to meet the increasing demand for electricity is projected to drive the stationary generators market growth.


By End-User Analysis


Oil & Gas Industry to Lead the Market


The enlargement of transportation, marine, space, and aviation industries, coupled with rising businesses between countries, is expected to leverage the oil and gas demand. Also, the tremendous growth in urban, commercial, and industrial sectors is adding sizeable growth opportunities in the oil & gas industry. Similarly, mining, construction, marine, and commercial, among others, are expected to exhibit lucrative growth in the forecasted period.


REGIONAL ANALYSIS


Asia-Pacific Stationary Generators Market Size, 2015-2026 (USD Billion)

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The stationary generators market demonstrates lucrative growth in the forecasted period on account of rising demand for uninterrupted power supply, massive investment in exploration and mining activities, and substantial economic growth. Asia-Pacific is projected to dominate the stationary generators market share due to high investment by emerging economies in infrastructure development. India and China are playing a crucial role in shaping the global economy as both countries account for over 37% population of the world. Consequently, the available grid infrastructure is not sufficient to meet the high power demand, which is likely to boost the stationary genset market. Middle East & Africa offer profitable opportunities owing to the consistent exploration of oil and gas. In addition, most African countries do not possess grid infrastructure, which likely to expand the stationary generator market. Growing information and communication technology, along with rising data centers in North America, is likely to leverage the demand for uninterrupted power supply. The United States houses some of the top technology companies that require a reliable power supply. This prevalence is set to enhance the market position in North America. Although Europe is focusing on clean energy systems, many countries are still using generators for power generation. Furthermore, the presence of some of the top manufacturing and automotive companies is set to boost the growth of the market size. Latin America is exhibiting slight growth owing to the presence of mining and exploration activities in Brazil, Argentina, Chile, etc.


KEY INDUSTRY PLAYERS


 Dominant Market Share is Likely to be Enjoyed By Leading Companies


Eminent players are projected to lead the stationary generators market on account of massive investment in innovation and technology. The companies are looking for expansion by leveraging the performance characteristics of these generators. Growth in the number of stationary generators manufacturers is likely to create healthy competition among the existing companies. Companies are competing based on cost, efficiency, power rating, durability, and power output of these generators.


List of Key Companies Profiled:



  • Caterpillar Inc. (United States)

  • Himoinsa (Spain)

  • Cummins Inc. (United States)

  • Atlas Copco (Sweden)

  • FG Wilson (United Kingdom)

  • Briggs & Stratton (United States)

  • Generac Power Systems (United States)

  • Aggreko (United Kingdom)

  • Ingersoll Rand (Ireland)

  • PRAMAC (Italy)

  • John Deere (United States)

  • Kirloskar Electric Co. Ltd (India)

  • Kohler-SDMO (France)

  • American Honda Motor Company, Inc. (United States)

  • Yamaha Motor Corporation, USA (United States)


KEY INDUSTRY DEVELOPMENTS:



  •  March 2020 – Caterpillar launched six new 50Hz standby ratings that deliver high power with reduced maintenance and installation costs. The company provides the Cat 3516E diesel generator sets ranging from 3,000kVA to 3,500 kVA with U.S. EPA Tier 2 emissions standards. The launch of various power rating generators in the market will strengthen the company’s position in the stationary generators outlook.

  • September 2019 – Toyota Motor Corporation unveiled stationary fuel cell generators (FC Generator), which use fuel cell systems equipped in the Mirai Fuel Cell Electric Vehicle (FCEV). The FC generator is installed within the Honsha Plant grounds in Toyota City.

  • September 2019 – Himoinsa opened a new subsidiary in Morocco to expand its global footprint. The new sales office is in Casablanca with a local expert team and a warehouse for stocking generator sets, lighting towers, and spare parts to meet the market demand.


FUTURE OUTLOOK


The reliable and uninterrupted power supply is crucial for the economic progress of the world. Population explosion and growing businesses are inflating the demand for electricity. Many small and medium scale companies are deploying stationary generators to tackle unplanned power outages. Also, governments and private entities are investing in flexible power generation plants to provide electricity in remote locations. Also, in many thermal, hydroelectric, and nuclear power plants, stationary generators are used to provide power in the event of shut down, maintenance, peak power demand, etc. Besides this, the enormous mining, as well as exploration of fossil fuel activities, projected to bode the stationary generator outlook.


REPORT COVERAGE


The stationary generators market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product/service types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market over recent years.


An Infographic Representation of Stationary Generators Market

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Besides this, the report provides a comprehensive analysis of market dynamics, emerging trends, and the competitive landscape of the stationary generators market. Key insights offered in the report are the adoption trends of residential industry analysis by individual segments, recent industry developments such as partnerships, mergers & acquisitions, consolidated SWOT analysis of key players, Porter’s five forces analysis, and key industry trends.


Report Scope & Segmentation Table














































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Billion)



Segmentation



By Fuel



  • Diesel

  • Gas

  • Others



By Power Rating



  • Below 75KVA

  • 75-375kVA

  • 375-750kVA

  • Above 750kVA



By Application



  • Continuous Load

  • Peak Load

  • Standby Load



By End-User



  • Mining

  • Oil & Gas

  • Construction

  • Residential

  • Marine

  • Manufacturing

  • Pharmaceuticals

  • Commercial

  • Others



By Region



  • North America (U.S. and Canada)

  • Europe (UK, Germany, France, Italy, Russia, and Rest of Europe)

  • Asia-Pacific (China, India, Japan, Australia, Southeast Asia, and Rest of Asia-Pacific)

  • Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)

  • Latin America (Brazil, Mexico, and Rest of Latin America)



Frequently Asked Questions

As per the Fortune Business Insights study, the market size was USD 15.28 billion in 2018.

In 2018, the market size was USD 15.28 billion, and it is anticipated to reach USD 24.03 billion by 2026 growing at a steady CAGR of 5.9% during the forecast period (2019 -2026)

The continuous load segment is expected to lead the market on account of the expansion of mining as well as the exploration of fossil fuels.

The market size in Asia Pacific stood at USD 5.54 billion in 2018.

The enormous demand for continuous power supply to avoid frequent power outage and increasing construction and mining activities are expected to drive the market growth.

Some of the top players in the market are Caterpillar Inc., Himoinsa, Cummins Inc., Atlas Copco, FG Wilson, and Briggs & Stratton.

Stationary Generators Market Size, Share and Global Industry Trend Forecast till 2026
  • Apr, 2020
  • 2018
  • 2015-2017
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