The global large generators market is poised to expand at a CAGR of around 5% over the next ten years, with diesel generators remaining most sought-after. Use of large generators in power plants has also be rising across some regions.
The market is anticipated to create enormous incremental opportunities across developed as well as emerging economies, owing to increasing number of industries across the globe. In the case of large generators, engine, output power, and fuel system plays a key role.
These large generators have gained huge traction across the globe over the last few years, owing to their increasing efficiency and quick starting feature.
Proliferation of engines and other components has ushered the market into a new phase of business models, intense competition among local and global players, and increasing homogenous products.
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Key Takeaways
- China owned more than 50% of global large generator market share in 2020 and is forecast to continue exhibiting high demand through the forecast period. High consolidated large generator market in China will encourage market players to innovate and launch new products at low prices accelerating the market growth.
- The U.S. is expected to experience significant growth during the forecast period owing to presence of market leaders, developed mining infrastructure, and abundance of raw material in the country.
- Large diesel generators are becoming the integral part of marine sector. The compulsion of having two large generators in sea vessel by international maritime regulations is the key market drivers
- Large generations are finding their use in information technology sector in the form of power back up solutions and as a means to power the cooling system, boosting the market demand.
- Establishment of new airports in emerging economies will require power back-up options, creating novel growth opportunities for large generators market.
Prominent Drivers
- Increasing industrialization especially in emerging economies will facilitate the rapid market growth.
- High utility of large generators in locations with no sustainable grid infrastructure will boost the market demand.
- Rapid infrastructure development activities especially in mining sector and in remote locations will elevate the market growth.
Key Restraints
- Large generators have very low fuel efficiency and violate emission norms, thus restraining the market growth.
- Large generators being very unstable in terms of operating capabilities is also restricting the adoption of the products.
- High maintenance and operating cost of large generators are limiting the market growth.
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Competitive Landscape
The main area of focus among the market players is forming alliance with regional distribution partners to consolidate their supply chain. They are also participating in strategic merger and acquisition for new product development. The use of organic and inorganic techniques to increase market penetration is prevalent among the leading market players.
Key Companies Profiled
- ABB
- Siemens Energy
- Caterpillar
- Cummins
- Generac Power Systems
- Kirloskar Oil Engines Limited
- Kohler Power
- Mitsubishi Heavy Industries Limited
- Rolls Royce Power Systems
- Wärtsilä Corporation
- F.G. Wilson
- Hi Power Systems
Key Market Segments Covered
- By Capacity
- 1-2 MW Large Generators
- 2-5 MW Large Generators
- 5-10 MW Large Generators
- 10-20 MW Large Generators
- 20-50 MW Large Generators
- Above 50 MW Large Generators
- By Fuel Type
- Diesel Large Generators
- Gas Large Generators
- By End-Use Industry
- Large Generators for Oil & Gas
- Large Generators for Marine
- Large Generators for Airports
- Large Generators for Construction & Mining
- Large Generators for Manufacturing
- Large Generators for IT & Telecom
- Others
- Large Generators for Power & Utility
- Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Key Questions Covered in the Report
- Which factor will drive the large generators market?
- What is likely to be the future outlook of large generators market?
- What are the key drivers and restraints for large generators market?
- Which region has the highest growth rate in large generators market?
- Which are the leading players operating in large generators market?
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