Electrical Generators Market Projected to Witness a Double-Digit CAGR During 2027

Electrical generator is an electromechanical equipment that aids in generating electrical energy from mechanical energy. They are the commonly utilized equipment when it comes to harnessing electric power from other sources of energy such as fossil fuel, wind and nuclear. Both Alternating Current (AC) and Direct Current (DC) can be generated from the electrical generators based on the requirements. With the growing working class population, rapid infrastructure development and industrialization, the demand for electric power has grown exponentially, which has positively influenced the growth of electrical generators market across the globe. The potential of kinetic energy, which can be derived from renewable sources of energy for the generation of electricity, has considerably increased over the years due to developments in this area that have shaped the need for special purpose electrical generators to further augment the growth of the electrical generators market in the upcoming years.

Electrical Generators Market Dynamics

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In a world largely run by electrical power, the requirement of electrical generators can be felt across various verticals and domains, especially in the power utilities sector. Expansion of power grid lines has directly impacted the need for large capacity electrical generators in order to transmit large amount of electrical power over the lines with minimal losses. Though renewable sources of energy can be considered as the primary power resources of the future, the use of diesel for electric power generation takes up significant market share in the present scenario due to cheaper costs involved with diesel procurement, instant generation of electricity and relatively less maintenance required for its running. Gas based electrical generators are expected to be the fast growing power generation equipment and are projected to take up the market share held by the diesel run electrical generators, as these emit less volatile pollutants. A low impact restraint that can slightly harm the growth of the electrical generators market is the increasing use of solar cells for electricity generation, which involves very less moving parts.

Electrical GeneratorsMarket: Segmentation

Electrical GeneratorsMarket can be segmented as follows.

By Rated Capacity, the market can be segmented as:

  • Less than 125 MVA
  • 125-300 MVA
  • 300-700 MVA
  • 700-1000 MVA
  • Above 1000 MVA

By Product Type, the market can be segmented as:

  • AC Generator Stationary Field Synchronous Rotating Field Synchronous Permanent Magnet Variable/Switched Reluctance Induction Generators Alternators
  • DC Generator Shunt Generators Series Generators Compound Wound

By Fuel Source, the market can be segmented as:

  • Diesel Generators
  • Gas Generators
  • Others (Bi-Fuel, Natural resources, etc.)

By Application, the market can be segmented as:

  • Standby
  • Continuous
  • Portable

By Cooling System, the market can be segmented as:

  • Air-Cooled
  • Pressurized Air-Cooled
  • Water-Cooled
  • Hydrogen-Cooled

By End Users, the market can be segmented as:

  • Commercial
  • Residential
  • Industrial

Electrical GeneratorsMarket: Regional Outlook

Though the rate of industrialization and urbanization in the Asia Pacific region is on par with the developments taking place in North America and Western Europe region, the availability of electric power from the power grid is quite low necessitating the utilization of electrical generators as a backup to curb power supply interruptions, thereby increasing its demand leading to the growth of the market. This is especially helpful when operations such as mining and construction activities taking place in remote locations rely on such electrical generators when the availability of electricity from the power grid lines is problematic.

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Electrical Generators Market: Market Participants

Examples of some of the market participants identified in the global electrical generators market are:

  • Cummins Inc.
  • Fuji Electric Co., Limited
  • Emerson Electric Co.
  • Siemens AG
  • ABB Limited
  • Caterpillar Inc.
  • General Electric Company
  • Aggreko PLC
  • Himoinsa SL
  • Kirloskar Electric Company
  • Atlas Copco AB
  • Mitsubishi Heavy Industries Engine & Turbocharger, Limited
  • Honda Motor Co., Limited
  • Generac Power Systems, Inc.
  • Briggs & Stratton Corporation

This post was originally published on Analytics News