In the ever-evolving landscape of industrial sectors, the generator industry plays a crucial role in providing power solutions across various applications. Understanding generator industry statistics can offer valuable insights into market trends, technological advancements, and emerging opportunities. Join us as we delve into the essential data and trends shaping the generator industry in our latest blog post.
The Latest Generator Industry Statistics Explained
The global generator sales market was valued at $22.3 billion in 2018.
The statistic indicates that the total value of sales in the global generator market reached $22.3 billion in 2018. This figure represents the combined revenue generated from the sale of various types of generators across different regions worldwide. The market value signifies the economic significance and scale of the generator industry, reflecting the demand for generators for both residential and commercial purposes. This statistic provides valuable insight into the size and growth of the global generator market, highlighting the importance of this industry in meeting power supply needs and ensuring energy resilience around the world.
Market size of the generator manufacturing industry in the US has grown 1.2% in 2021.
The statistic stating that the market size of the generator manufacturing industry in the US has grown by 1.2% in 2021 indicates that the total value of the industry’s production and sales has increased by 1.2% compared to the previous year. This growth suggests that there has been an overall expansion in the demand for generators in the US market. Factors such as an increased need for backup power solutions, infrastructure development, and a trend towards renewable energy sources may have contributed to this growth. This statistic provides valuable insights into the performance and trends within the generator manufacturing industry, highlighting a positive upward trajectory in market size for the industry in the US.
Diesel generator sets held over 70% share of the overall generator market size in 2020.
The statistic that diesel generator sets held over 70% share of the overall generator market size in 2020 means that more than two-thirds of the generator market in that year was dominated by diesel generator sets. This suggests that diesel generators were the preferred choice among consumers and businesses for meeting their power generation needs. The high market share of diesel generators indicates their widespread use, possibly due to factors such as reliability, efficiency, and availability of fuel. It also implies that other types of generators, such as gasoline or natural gas, played a smaller role in the market compared to diesel generators during that time period.
In 2018, the global portable generators market was valued at approximately $2 billion.
The statistic “In 2018, the global portable generators market was valued at approximately $2 billion” indicates the estimated total worth of portable generators sold worldwide during the year 2018. This figure provides insight into the significant size and economic importance of the portable generator market on a global scale. It suggests that there is a substantial demand for portable generators across various sectors and industries, indicating a reliance on these devices for backup power supply or portable energy solutions. Additionally, the $2 billion market value serves as a key indicator for businesses, policymakers, and investors to assess market trends, make strategic decisions, and evaluate the growth potential of the portable generator industry.
Asia-Pacific commanded the largest share of the global generator sales market in 2018.
The statistic ‘Asia-Pacific commanded the largest share of the global generator sales market in 2018’ indicates that in 2018, the region encompassing countries in Asia and the Pacific dominated the global market for generator sales, surpassing other regions in terms of the total value or volume of generators sold. This suggests that Asia-Pacific was the leading geographic market for generators during that year, likely due to factors such as rapid industrialization, increasing infrastructure development, and growing demand for reliable power sources in the region. This statistic highlights the significant presence and influence of the Asia-Pacific market within the global generator industry.
Natural gas generators are expected to grow at the highest CAGR from 2020 to 2025.
The statistic “Natural gas generators are expected to grow at the highest CAGR from 2020 to 2025” suggests that there is anticipated significant growth in the market for natural gas generators over the next five years. The Compound Annual Growth Rate (CAGR) is a measure used to assess the annual growth rate of an investment over a specific period of time, in this case from 2020 to 2025. The statement implies that the demand for natural gas generators is projected to increase at a higher rate compared to other types of generators during this period. This growth may be attributed to various factors such as cost-effectiveness, environmental considerations, energy efficiency, and availability of natural gas as a fuel source. The forecasted high CAGR indicates a positive outlook for the natural gas generator industry and suggests a strong market potential for this particular technology in the coming years.
There were 400 generator manufacturing businesses in the USA in 2021.
The statistic “There were 400 generator manufacturing businesses in the USA in 2021” represents the total count of companies engaged in the production of generators in the United States during the specified year. This data point quantifies the extent of the generator manufacturing industry within the country, indicating a snapshot of the market landscape and competition in this sector. The figure of 400 businesses highlights the presence of a significant number of players in the market, suggesting a relatively diverse and competitive environment for the production and distribution of generators in the USA. This statistic can be valuable for policymakers, investors, industry analysts, and researchers seeking insights into the structure and dynamics of the generator manufacturing sector in the country.
The global power generator rental market valued at $2.92 billion in 2017.
The statistic indicates that the global power generator rental market generated a revenue of $2.92 billion in the year 2017. This figure represents the total value of transactions in the market for renting power generators for various purposes like temporary power supply during events, construction projects, emergencies, or in regions facing power shortages. The size of the market reveals the significant demand for rental power generators globally, highlighting the importance of these services in providing reliable and flexible power solutions to industries, communities, and individuals when primary power sources may be insufficient or unavailable. This statistic suggests a lucrative market opportunity for companies operating in the power generator rental industry, with potential for further growth and expansion in the future.
The industrial sector holds a significant share in the generator sales market.
The statement “The industrial sector holds a significant share in the generator sales market” suggests that the industrial sector, including manufacturing plants, factories, and other large-scale facilities, plays a substantial role in the demand and purchase of generators. This could be due to the need for consistent and reliable power supply to ensure continuous operations and prevent costly downtime. The demand from the industrial sector indicates that generators are a critical investment for businesses in this sector to maintain productivity and meet operational requirements. This statistic underscores the importance of generators in supporting the reliability and resilience of industrial operations.
The gas generators segment is predicted to grow at a 5.9% CAGR from 2021 to 2028.
The statement indicates that in the gas generators industry, the Compound Annual Growth Rate (CAGR) is projected to be 5.9% from the year 2021 to 2028. This means that, on average, the gas generators segment is expected to increase by 5.9% each year during this period. A 5.9% CAGR suggests a steady and consistent growth trajectory for the gas generators market over the specified timeframe. This statistic is crucial for industry stakeholders as it provides insights into the expected expansion rate of the gas generators segment, aiding in strategic decision-making, investment planning, and market analysis.
The US market for portable generators is expected to display a CAGR of 6.2% from 2020 to 2025.
This statistic indicates that the compound annual growth rate (CAGR) of the US market for portable generators is projected to be 6.2% over the period spanning from 2020 to 2025. This means that on average, the market size is anticipated to increase by 6.2% every year during this timeframe. The CAGR provides a smoothed representation of the market’s growth trajectory and is a useful metric for assessing the overall trend in the industry. A positive CAGR suggests a healthy and expanding market for portable generators in the US, indicating potential opportunities for businesses operating in this sector over the forecasted period.
Cummins Inc. held the maximum generator sets market share of over 15% in 2019.
The statistic “Cummins Inc. held the maximum generator sets market share of over 15% in 2019” indicates that Cummins Inc. had the largest portion of the generator sets market compared to its competitors in 2019. With a market share exceeding 15%, Cummins Inc. was the leading company in the generator sets industry, showcasing its dominance and strong presence in the market. This statistic suggests that Cummins Inc. was able to capture a significant portion of the market demand for generator sets, potentially outperforming its competitors in terms of sales, customer base, and industry influence during the specified period.
The global generators market size is expected to grow from $22.3 billion in 2018 to more than $29 billion by 2024.
The statement indicates that the global generators market is projected to experience substantial growth over the forecast period, increasing from $22.3 billion in 2018 to over $29 billion by 2024. This growth suggests a significant expansion in the market demand for generators, likely driven by factors such as increasing power outages, growing industrialization, and rising demand for backup power sources in commercial and residential sectors. The expected increase in market size highlights opportunities for companies operating in the generators industry to capitalize on this growth trend by developing innovative products, expanding their global reach, and targeting emerging markets to drive sales and achieve a competitive advantage in the industry.
Diesel generators form the largest market by fuel type, accounting for over $12 billion in 2019, and are expected to remain dominant during the forecast period 2020-2025.
The statistic indicates that in 2019, diesel generators were the most prevalent fuel type in the market, contributing to a market value of over $12 billion. Furthermore, it suggests that this dominance is projected to persist through the forecast period of 2020-2025. This data underscores the significant market share held by diesel generators and hints at a continued preference for this fuel type in the foreseeable future. Factors such as reliability, availability, and power output of diesel generators likely contribute to their sustained position as the primary choice in the market.
The global generator circuit breakers market size is expected to reach USD 383.1 million by 2027.
The statistic indicates that the global generator circuit breakers market is projected to grow and expand significantly over the next few years, with an estimated market size of USD 383.1 million by the year 2027. This forecast suggests that there is a growing demand for generator circuit breakers worldwide, likely driven by factors such as increasing investments in power infrastructure, expanding industrial activities, and rising focus on renewable energy sources. The expected market size indicates a promising outlook for manufacturers and suppliers in the generator circuit breakers industry, highlighting potential opportunities for growth and expansion in the coming years.
Generators with less than 30 kW power capacity dominated the global market with an 85% share in 2020.
The statistic indicates that in 2020, generators with a power capacity of less than 30 kW held the majority market share, accounting for 85% of the global market. This suggests that smaller capacity generators were the most prevalent and widely used type of generators during that year. The dominance of generators with less than 30 kW power capacity could be attributed to various factors such as their affordability, versatility, and suitability for smaller-scale applications. This statistic highlights the significance of smaller generators in meeting the energy needs across various sectors and regions globally.
The global generator market for telecom industry is projected to grow at a rate of 2% during the forecast period 2020-2024.
The statistic indicates that the global generator market specific to the telecom industry is expected to experience a growth rate of 2% per year over the forecast period from 2020 to 2024. This suggests that there will be a gradual expansion in the demand for generators within the telecom sector during this time frame. Factors such as increasing investments in telecommunications infrastructure, expanding network coverage, and the need for reliable power backup solutions are likely driving this projected growth. This growth rate can have implications for businesses operating within the telecom industry, including generator manufacturers and suppliers, as they may need to adjust their strategies to cater to the rising demand for generators in this sector.
Conclusion
Based on the analysis of Generator Industry Statistics, it is evident that the market is growing steadily due to increasing demand for backup power solutions across various sectors. The data highlights key trends and factors driving the industry, providing valuable insights for businesses and stakeholders in this sector. Moving forward, staying informed on industry statistics and market dynamics will be crucial for making informed decisions and staying competitive in the rapidly evolving generator market.
References
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