Pune, India, Jan. 05, 2022 (GLOBE NEWSWIRE) -- The global stationary generator market size is projected to reach USD 31.96 billion by 2028, exhibiting a CAGR of 6.3% during the forecast period. The market stood at USD 19.72 billion in 2020 and is expected to reach USD 20.83 billion in 2021.
Developments in the industrial sectors, rapid urbanization, and industrialization are likely to fuel industry progress. Fortune Business Insights™ mentions this information in its information titled “Stationary Generator Market, 2021-2028.”A stationary generator generates a consistent power supply for several industries such as manufacturing, telecommunications, pharmaceutical, automobile, mining, and oil & gas. Increasing cases of power outages and the emergence of several industries are likely to boost its adoption. Significant investments in airport, road, rail, and commercial building infrastructure can foster industry progress. Further, increasing trade and transport activities and increased exploration of fossil fuels may boost the product’s demand. Increased dependence upon electricity and digitization is likely to bolster demand for consistent energy resources. Moreover, significant investments in metals and minerals mining for automotive, pharmaceuticals, chemicals, and aviation sectors are likely to increase adoption. These factors are likely to fuel the growth of the market during the upcoming years.
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Impact of COVID-19
Restrictions on Industrial Activities to Impede Market Progress
This market is expected to be negatively affected during the COVID-19 pandemic because of the restrictions imposed on industrial activities. The sudden spike in COVID-19 infections led to the closure of activities requiring intense labor activities. Further, the restrictions imposed on manufacturing and transport lead to a lack of raw materials and resources for generator production. However, the adoption of reduced capacities, advanced production machinery, and part-time shifts have enabled manufacturers to satisfy demand, complete deliveries, and recover losses. Government initiatives for the growth of the industrial sectors during the COVID-19 pandemic have led to advanced sanitization methods and social distancing. These factors are likely to foster industry progress during the pandemic.
Segments
By fuel analysis, the market is segmented into gas, diesel, and others. As per power rating, it is classified into below 75kVA, above 750kVA, 75-375kVA, and 375-750kVA. Based on application, it is categorized into standby load, peak load, and continuous load. By end-user, it is divided into commercial, pharmaceutical, manufacturing, marine, residential, construction, oil & gas, mining, and others. Regionally, it is grouped into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Report Scope and Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 6.3 % |
| 2026 Value Projection | USD 31.96 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 19.72 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 310 |
| Segments covered | By Fuel, By Power Rating, By Application, By End User |
| Growth Drivers | Inadequate Power Infrastructure Set to Boost Stationary Genset Market |
| Inflation of the Electricity Demand to Bolster Stationary Genset Market Growth | |
| Rising Exploration Activities to Meet Growing Demand for Fossil Fuels Is A Vital Trend | |
| Pitfalls & Challenges | Growing Investment in Utility Sector and Rising Adoption of Clean Energy Technology to Restrain the Market |
Highlights of the Report
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
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Drivers and Restraints
Insufficient Power Supply Infrastructure and Adoption of Advanced Technology to Fuel Market Growth
The lack of a developed grid infrastructure leads to the adoption of stationary generators among the population. Rapid population growth, the emergence of manufacturing and industrial sectors, and increasing commercial building constructions are likely to foster market development. The rising demand for uninterrupted electric power is expected to boost stationary generators’ demand. Further, incorporating advanced technology such as information and communication technology and the internet is likely to foster the product’s adoption. Moreover, incorporating stationary generators in industrial, commercial, transportation, and construction sectors is likely to boost its adoption. The rising electricity consumption by industries in developing countries such as India is expected to boost the market growth. In addition, the rapid urbanization and development of urban areas are likely to fuel industry growth. These factors are likely to drive the stationary generator market growth.
However, the adoption of solar energy and clean energy resources is likely to hamper industry growth.
Regional Insights
Rising Investments in Infrastructure Development to Facilitate Market Progress in Asia-Pacific
Asia-Pacific is expected to dominate the stationary generator market share because of rising investments in infrastructure development. The market in Europe stood at USD 6.31 billion in 2020 and is projected to dominate the market for the upcoming years. India and China are significant contributors to the global economy as they account for approximately 36% of the global population. Further, the emergence of several commercial buildings, industries, and businesses is likely to boost the demand for power resources. This factor has led to the rapid adoption of stationary electricity by several businesses and industries. In addition, the rapid development in internet infrastructure is likely to boost market development.
In the Middle East & Africa, the continual gas & oil exploration activities are likely to fuel stationary generators’ adoption. In addition, the lack of grid infrastructure in African countries is likely to foster market progress.
In North America, rising data centers and developed information and communication technology are expected to boost the generator’s adoption. The rising demand for continuous electric supply from several technological companies is likely to foster market growth.
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Competitive Landscape
Major Players Announce Innovative Products to Bolster their Market Position
The prominent companies operating in the market launch innovative products to increase their consumer base and improve their market position. For example, Caterpillar announced six novel 50Hz standby ratings in March 2020. The standby ratings reduce installation and maintenance costs and boost the product’s demand. It offers 3,000kVA to 3,500kVA Cat diesel-powered generators complying with the U.S. EPA Tier 2 emission norms. This launch may enable Caterpillar to attract consumers and boost its market position globally. In addition, the incorporation of research and development helps companies improve their product quality, enhance effectiveness, incorporate advanced technological features, and improve their brand image.
Industry Development
- March 2021: Briggs and Stratton announced that it would double its standby generator’s production because of the global recorded outages. It expanded its production facilities in Alabama, Auburn, and its 400,000 square foot distribution plant.
List of Key Players Profiled in this Market Report
- 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)
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Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Stationary Generators Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments by Industry Players in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Stationary Generators Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Fuel Type
- Diesel
- Gas
- Others
- Market Analysis, Insights and Forecast – By Power Rating
- Below 75 kVA
- 75-375 kVA
- 375-750 kVA
- Above 750 kVA
- Market Analysis, Insights and Forecast – By Application
- Continuous Load
- Peak Load
- Standby Load
- Market Analysis, Insights and Forecast – By End-User
- Mining
- Oil & Gas
- Construction
- Residential
- Marine
- Manufacturing
- Pharmaceuticals
- Commercial
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Stationary Generators Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Fuel Type
- Diesel
- Gas
- Others
- Market Analysis, Insights and Forecast – By Power Rating
- Below 75 kVA
- 75-375 kVA
- 375-750 kVA
- Above 750 kVA
- Market Analysis, Insights and Forecast – By Application
- Continuous Load
- Peak Load
- Standby Load
- Market Analysis, Insights and Forecast – By End-User
- Mining
- Oil & Gas
- Construction
- Residential
- Marine
- Manufacturing
- Pharmaceuticals
- Commercial
- Others
- Market Analysis, Insights and Forecast – By Country
- United States Market Analysis and Forecast – By Fuel Type
- Diesel
- Gas
- Others
- Canada Market Analysis and Forecast – By Fuel Type
- Diesel
- Gas
- Others
- United States Market Analysis and Forecast – By Fuel Type
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