Generator Sales Market

Caterpillar (US) and Cummins (US) are the Major Players in the Generator Sales Market

The global generator sales market is estimated to be USD 19.9 billion in 2021 and is projected to reach USD 26.5 billion by 2026, growing at a CAGR of 5.9% from 2021 to 2026. This market growth is primarily driven by the growing demand for uninterrupted and reliable power and rapid urbanization in developing countries in Asia Pacific and the Middle East & Africa. Increased investments in IT infrastructure management and healthcare infrastructure are also expected to fuel the growth of the generator sales market during the forecast period.

The generator sales market is dominated by major players that are established brand names with an extensive regional presence, along with many local and regional players in emerging economies. The global market is dominated by major players including Caterpillar (US), Cummins (US), Rolls-Royce Holdings (UK), Mitsubishi Heavy Industries, Ltd. (Japan), and Generac (US).

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Major strategies adopted by the market players include new product launches, contracts & agreements, mergers & acquisitions, and investments & expansions. New product launches was the most commonly adopted strategy.

Caterpillar is one of the leading manufacturers of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. The company operates through 4 segments, namely, construction industries, resource industries, and energy and transportation, and provides financing and related services through its financial products segment. The company offers products and services related to generator sets under its energy and transportation segment. The company adopted new product launches as its key strategy to gain a larger share of the generator sales market. For instance, in September 2020, Caterpillar launched Cat G3412 natural gas-fueled generator set with US EPA Stationary Emergency Certification rated at 500 kW for 60-Hz markets. The G3412 is engineered to meet a full suite of critical market requirements, including quick starting and loading capability.

Cummins is a global manufacturer of generator sets. The company has 4 complementary operating segments, namely, engine, distribution, components, and power generation system. The company offers generators through its power generation system segment. The company has a network of approximately 600 company-owned and independent distributor locations and over 7,400 dealer locations in more than 190 countries and territories. The company adopted new product launches and expansions as its growth strategy to maintain its market position. For instance, in October 2020, Cummins launched Onan C–Power QSB7E generator for the recreational marine market. The new product is available in both 50- and 60-Hz models, with output of up to 195 kWe. Cummins’ QSB7E generator provides maximum reliability for the commercial marine generator portfolio.

Related Reports:

Generator Sales Market by Type (Diesel, Gas), Application (Standby, Peak Shaving, Continuous), Power Rating (<100 KVA, 100-350 KVA, 350-1000-2500 KVA, 2500-5000 KVA, >5000 KVA), Sales Channel (Direct, Indirect), End User, Region - Global Forecast to 2026

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Report Code
EP 3131
RI Published ON
5/3/2021
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