HOME Research Insight Caterpillar, Inc. and Cummins, Inc are some of the key players in the Generator Sales Market

Caterpillar, Inc. and Cummins, Inc are some of the key players in the Generator Sales Market

The global generator sales market is projected to grow at a GACR of 5.7% from 2016 to 2021. Asia-Pacific is estimated to be largest market for generator sales, followed by North America. This trend is expected to continue until 2021. The growth of the generator sales market is driven by increased demand for uninterrupted and reliable power supply across all major end-users such as the manufacturing, healthcare, IT/Telecom, oil & gas, and construction sectors.

The generator sales market is dominated by a few global players. The key players operating in the market include Caterpillar, Inc. (U.S.), Cummins, Inc. (U.S.), Mitsubishi Heavy Industries, Ltd. (Japan), Generac Holdings, Inc. (U.S.), and Yanmar Co., Ltd. (Japan).

The major strategies adopted by players in the generator sales market include new product launches and contracts & agreements. New product launches was the most commonly used strategy from 2014 to 2017. Industry players also adopted contracts & agreement, which was the second most widely followed strategy from 2014 to 2017.

Caterpillar, Inc. is a U.S.-based heavy-industries and infrastructure company that manufactures diesel and natural gas engines, construction and mining equipment, diesel-electric locomotives, and industrial gas turbines. The company provides products and services for construction, transportation, mining, forestry, energy, logistics, electronics, financing, and electric power generation. It operates in five business segments, namely, energy and transportation, construction, resource industries, financial products and all other industries. The energy and transportation segment includes products and services relating to generator sets. Caterpillar, Inc. has adopted contracts & agreements and new product launches as its key growth strategies. In December 2015, Caterpillar, Inc. was awarded a contract by Svitzer (Denmark) to provide eight C4.4 generator sets along with other equipment to power four of Svitzer’s tugboats. Also, in September 2016, the company launched a portable generator series for home and outdoor applications.

Cummins, Inc. designs, manufactures, distributes, and services diesel and natural gas engines and engine-related component products, including filtration systems, after-treatment systems, turbochargers, fuel systems, controls systems, air handling systems, and electric power generation systems. The company sells products to original equipment manufacturers (OEMs), distributors, and other customers worldwide. The company has a network of approximately 600 company-owned and independent distributor locations and over 7,200 dealer locations in more than 190 countries and territories. The company has four complementary operating segments, namely, engine, distribution, components, and power generation. These segments share technology, customers, strategic partners, brand recognition, and distribution networks in order to compete more efficiently and effectively in their respective markets.

Cummins, Inc. adopted new product launches as its key strategy to expand its product portfolio in the generator sales market. The company has launched several new generators from 2014 to 2017. For instance, in April 2015, Cummins, Inc. launched its CorePlus Flywheel Motor Generator, designed for the construction sector.

Related Reports:

Generator Sales Market by Type (Diesel, Gas), Application (Standby, Peak Shaving, Continuous Power), Power Rating (<100, 100–350, 351–1,000, >1,000 kVA), End-User (Residential, Commercial, and Industrial), and Region - Global Forecast to 2021

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