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According to the latest research, the global Industrial Generator market size was valued at USD 13744.2 million in 2022 and is expected to expand at a CAGR of 8.56% during the forecast period, reaching USD 22500.79 million by 2028.
The generator produces electrical energy from its mechanical operation. It works using a specific fuel source such as gasoline, gas or diesel, which is transformed by the device into electrical energy, or convert wind and solar energy into electricity. Industrial generators serve different industries and have a much greater power output. These powerful generators are used in large facilities with high energy requirements such as offshore drilling, mining, land Drilling, construction sites, manufacturing plants, and so on.
The market is developing steadily. Industrial generators serve as both regular and backup power sources and are essential to many businesses and industries around the world, as the savings they provide in routine practice and in emergencies are enormous. With industrialization, many industries now use industrial generators in various ways, such as mining, manufacturing, commerce, utilities, and more. The increasing demand for the industrial generator market in the downstream market has promoted the sustainable development of the industry.
Drivers
Broad downstream applications drive market growth.
Industrial generators can withstand extreme use for a long time in complex and harsh environments and are ideal for common power and backup power in many industries, and a wide range of downstream applications promotes the continuous development of the market.
Increased extreme weather drives backup power demand.
The market for industrial generators has growth potential due to extreme weather causing instability in normal power supply and rising demand for backup power in industry and commerce.
The development of e-commerce.
Limitations
Different types of industrial generators have different usage restrictions.
The technical barriers of industrial generators are relatively high. The leading enterprises have many years of technology accumulation, patents and brand advantages, and it is difficult for new entrants to open the market easily. And different types of equipment have different usage restrictions, such as the gas emission of diesel generators, which needs to be further improved.
Intense market competition.
Region Overview:
From 2022-2027, Asia Pacific is estimated to witness robust growth prospects
In global comparison, a significant portion of the revenue was generated in Asia Pacific (51.05% in 2021).
Company Overview:
Caterpillar
Caterpillar Inc. is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
Caterpillar does business on every continent, principally operating through three primary segments - Construction Industries, Resource Industries and Energy & Transportation - and providing financing and related services through their Financial Products segment.
Cummins
Cummins Inc. is an American multinational corporation that designs, manufactures, and distributes engines, filtration, and power generation products.
Caterpillar is one of the major players operating in the Industrial Generator market, holding a share of 21.02% in 2022.
The major players operating in the Industrial Generator market include Caterpillar, Cummins, Atlas Copco, ABB Group, Generac, etc. Among which, Caterpillar ranked top in terms of sales and revenue in 2022.
Segmentation Overview:
Diesel Generator Set
Diesel engines are noted for durability, long-life and normally lower maintenance. Diesel fuel burns cooler than gasoline reducing the heat, and the wear, on the engine. Power produced from diesel generators can also be lower in cost through the increased efficiency and higher energy density of diesel fuel.
Gas Generator Set
Gas generators usually use propane or liquefied petroleum gas. Natural gas offers the advantage of easy storage in below or above-ground tanks. It is also a clean burning fuel, reducing problems with emissions. Generators that run on natural gas are durable but they can be more expensive in initial purchase.
Others
In addition, there are other types of industrial generators, such as gasoline and wind power, which are less used than diesel and natural gas generators.
By type, Diesel Generator Set segment accounted for the largest share of market in 2021.
Application Overview:
Offshore Drilling
Offshore drilling is a mechanical process where a wellbore is drilled below the seabed. It is typically carried out in order to explore for and subsequently extract petroleum that lies in rock formations beneath the seabed. Offshore drilling often requires industrial generators to provide power.
Mining
Industrial generators in the mining industry meet a large amount of electricity demand. The mining industry relies on heavy equipment such as lights, drilling rigs, conveyor belts, excavators and cranes, and industrial generators to meet the power needs of a variety of mining equipment.
Land Drilling
Land drilling is done on land and not over water. Majority of oil & gas operations take place in remote locations that are located off the main power grid. Industrial generators can provide a continuous source of power for all related oil & gas activities, such as land drilling, pumping, and loading.
Fracking
Fracking is the process of injecting liquid at high pressure into subterranean rocks, boreholes, etc. so as to force open existing fissures and extract oil or gas, often requiring industrial generators to provide power.
Manufacturing Plants
Manufacturing goods requires a steady and constant stream of energy for efficient production. Every second is money in manufacturing, and downtime costs big money because as a result. Manufacturing companies usually use generators and backup generators.
Cruise Ships and Cargo Ships
Cruise ships and cargo ships require a lot of electricity, such as: thrusters, stabilizers, mechanical loads, galleys, lighting, and more. Industrial generator sets are therefore required to meet these power demands.
Military
Military bases and militaries often also require industrial generators to provide electricity.
Others
Industrial generators are also widely used in hospitals, construction, commercial real estate and other industries.
By application, the Manufacturing Plants segment occupied the biggest share from 2017 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Industrial Generator industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Industrial Generator. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Industrial Generator Market Report Include:
Market Size Estimates: Industrial Generator market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Industrial Generator market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Industrial Generator market
Segment Market Analysis: Industrial Generator market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Industrial Generator market situations and prospects in major and top regions and countries
Industrial Generator Market
Industrial Generator Industry Chain: Industrial Generator market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Industrial Generator Industry News, Policies by regions
Industrial Generator Industry Porters Five Forces Analysis
Key players in the global Industrial Generator market are covered in Chapter 2:
Yanmar
Honeywell International Inc.
Cummins
Kohler
Generac
IGSA Power
JCB
Caterpillar
Atlas Copco
ABB Group
In Chapter 6 and Chapter 9, on the basis of types, the Industrial Generator market from 2018 to 2028 is primarily split into:
Diesel Generator Set
Gas Generator Set
Others
In Chapter 7 and Chapter 10, on the basis of applications, the Industrial Generator market from 2018 to 2028 covers:
Offshore Drilling
Mining
Land Drilling
Fracking
Manufacturing Plants
Cruise Ships and Cargo Ships
Military
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Industrial Generator market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Industrial Generator industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Industrial Generator market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Industrial Generator industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Industrial Generator market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Industrial Generator market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Industrial Generator market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
The generator produces electrical energy from its mechanical operation. It works using a specific fuel source such as gasoline, gas or diesel, which is transformed by the device into electrical energy, or convert wind and solar energy into electricity. Industrial generators serve different industries and have a much greater power output. These powerful generators are used in large facilities with high energy requirements such as offshore drilling, mining, land Drilling, construction sites, manufacturing plants, and so on.
The market is developing steadily. Industrial generators serve as both regular and backup power sources and are essential to many businesses and industries around the world, as the savings they provide in routine practice and in emergencies are enormous. With industrialization, many industries now use industrial generators in various ways, such as mining, manufacturing, commerce, utilities, and more. The increasing demand for the industrial generator market in the downstream market has promoted the sustainable development of the industry.
Drivers
Broad downstream applications drive market growth.
Industrial generators can withstand extreme use for a long time in complex and harsh environments and are ideal for common power and backup power in many industries, and a wide range of downstream applications promotes the continuous development of the market.
Increased extreme weather drives backup power demand.
The market for industrial generators has growth potential due to extreme weather causing instability in normal power supply and rising demand for backup power in industry and commerce.
The development of e-commerce.
Limitations
Different types of industrial generators have different usage restrictions.
The technical barriers of industrial generators are relatively high. The leading enterprises have many years of technology accumulation, patents and brand advantages, and it is difficult for new entrants to open the market easily. And different types of equipment have different usage restrictions, such as the gas emission of diesel generators, which needs to be further improved.
Intense market competition.
Region Overview:
From 2022-2027, Asia Pacific is estimated to witness robust growth prospects
In global comparison, a significant portion of the revenue was generated in Asia Pacific (51.05% in 2021).
Company Overview:
Caterpillar
Caterpillar Inc. is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
Caterpillar does business on every continent, principally operating through three primary segments - Construction Industries, Resource Industries and Energy & Transportation - and providing financing and related services through their Financial Products segment.
Cummins
Cummins Inc. is an American multinational corporation that designs, manufactures, and distributes engines, filtration, and power generation products.
Caterpillar is one of the major players operating in the Industrial Generator market, holding a share of 21.02% in 2022.
The major players operating in the Industrial Generator market include Caterpillar, Cummins, Atlas Copco, ABB Group, Generac, etc. Among which, Caterpillar ranked top in terms of sales and revenue in 2022.
Segmentation Overview:
Diesel Generator Set
Diesel engines are noted for durability, long-life and normally lower maintenance. Diesel fuel burns cooler than gasoline reducing the heat, and the wear, on the engine. Power produced from diesel generators can also be lower in cost through the increased efficiency and higher energy density of diesel fuel.
Gas Generator Set
Gas generators usually use propane or liquefied petroleum gas. Natural gas offers the advantage of easy storage in below or above-ground tanks. It is also a clean burning fuel, reducing problems with emissions. Generators that run on natural gas are durable but they can be more expensive in initial purchase.
Others
In addition, there are other types of industrial generators, such as gasoline and wind power, which are less used than diesel and natural gas generators.
By type, Diesel Generator Set segment accounted for the largest share of market in 2021.
Application Overview:
Offshore Drilling
Offshore drilling is a mechanical process where a wellbore is drilled below the seabed. It is typically carried out in order to explore for and subsequently extract petroleum that lies in rock formations beneath the seabed. Offshore drilling often requires industrial generators to provide power.
Mining
Industrial generators in the mining industry meet a large amount of electricity demand. The mining industry relies on heavy equipment such as lights, drilling rigs, conveyor belts, excavators and cranes, and industrial generators to meet the power needs of a variety of mining equipment.
Land Drilling
Land drilling is done on land and not over water. Majority of oil & gas operations take place in remote locations that are located off the main power grid. Industrial generators can provide a continuous source of power for all related oil & gas activities, such as land drilling, pumping, and loading.
Fracking
Fracking is the process of injecting liquid at high pressure into subterranean rocks, boreholes, etc. so as to force open existing fissures and extract oil or gas, often requiring industrial generators to provide power.
Manufacturing Plants
Manufacturing goods requires a steady and constant stream of energy for efficient production. Every second is money in manufacturing, and downtime costs big money because as a result. Manufacturing companies usually use generators and backup generators.
Cruise Ships and Cargo Ships
Cruise ships and cargo ships require a lot of electricity, such as: thrusters, stabilizers, mechanical loads, galleys, lighting, and more. Industrial generator sets are therefore required to meet these power demands.
Military
Military bases and militaries often also require industrial generators to provide electricity.
Others
Industrial generators are also widely used in hospitals, construction, commercial real estate and other industries.
By application, the Manufacturing Plants segment occupied the biggest share from 2017 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Industrial Generator industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Industrial Generator. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Industrial Generator Market Report Include:
Market Size Estimates: Industrial Generator market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Industrial Generator market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Industrial Generator market
Segment Market Analysis: Industrial Generator market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Industrial Generator market situations and prospects in major and top regions and countries
Industrial Generator Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.Industrial Generator Industry Chain: Industrial Generator market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Industrial Generator Industry News, Policies by regions
Industrial Generator Industry Porters Five Forces Analysis
Key players in the global Industrial Generator market are covered in Chapter 2:
Yanmar
Honeywell International Inc.
Cummins
Kohler
Generac
IGSA Power
JCB
Caterpillar
Atlas Copco
ABB Group
In Chapter 6 and Chapter 9, on the basis of types, the Industrial Generator market from 2018 to 2028 is primarily split into:
Diesel Generator Set
Gas Generator Set
Others
In Chapter 7 and Chapter 10, on the basis of applications, the Industrial Generator market from 2018 to 2028 covers:
Offshore Drilling
Mining
Land Drilling
Fracking
Manufacturing Plants
Cruise Ships and Cargo Ships
Military
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Industrial Generator market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Industrial Generator industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Industrial Generator market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Industrial Generator industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Industrial Generator market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Industrial Generator market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Industrial Generator market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
