Generator Market to Witness Exponential Growth | 2025

As per reports, the global generator (up to 20 kVA) market showcases the presence of several players hence a highly competitive vendor landscape. While players with a global footprint has clear dominance, it is difficult for them to be oblivious to competitive threats posed by local vendors, finds Transparency Market Research (TMR) in a new study. These companies, despite operating at a smaller scale, offer products at lower prices, which make it even tougher for bigger companies to sustain strong presence at a regional scale. Nonetheless, the larger enterprises have several technological advantages up their sleeves, which are helping them maintain a strong position globally. "To counter the toughening challenge from local players, the established companies are making efforts to provide generators that aid curbing carbon emission," said a lead TMR analyst. Also several leading companies are developing generators with higher power output capacity to capitalize on trends such as data center and mega data center consolidation. Some of the leading companies operating in the global generator (up to 20 kVA) market are Honda Siel Power Products Ltd., Mahindra Powerol, Kohler Co., and Cummins Inc.

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TMR has pegged the overall value of the global generator (Up to 20 kVA) market at US$1,814.3 mn in 2017. Rising at a positive 7.1% CAGR between 2017 and 2025, the market is forecast to reach US$3,341.4 mn by the end of 2025. Based on fuel type, diesel based generator of up to 20 kVA held the leading share in the global market in 2016. Low cost incurred on the maintenance of diesel based generators, besides high power output offered by these generators is the chief driver of the diesel-based up to 20 kVA generator segment. Regionally, Asia Pacific is expected to showcase lucrative prospects in the coming years.

Consistent growth witnessed by the global generator market in the last few years is attributable to various factors. For instance, the market has been benefitting from the mushrooming data centers. Also the rising adopted of power management products has enabled the market gain momentum in response. Among other factors, the rising number of colocation facilities, especially across SMEs is fuelling the demand for data centers, subsequently having a positive impact on the overall generator market. Furthermore, for data centers to function without hindrances, undisrupted power supply is imperative. This has in turn stoked the demand for generators as they help tackling power fluctuations and outages. On account of these benefits several enterprises are installing generators of up to 20 kVA, which in future will help the market tread a positive trajectory.

In the last few years, several technological advancements have helped upgrading generator sets which have improved their fuel efficiency, subsequently their diesel engine technology. Diesel engines have emerged as preferred choice among enterprises owing power backup equipment. The easy availability of diesel generators and their affordable price have fuelled their demand in turn positively impacting the global generator market. Also numerous modifications are made in fuel systems, besides incorporating control and digital monitoring system. These changes have upgraded diesel generators. They now offer higher performance efficiency, which is a key factor boosting the global generator market.

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Furthermore, the market is gaining from rising sales of standby power generators and the overall spike in demand for power generators across residential, commercial, and industrial sectors. On the other hand poor electrification in various economies has promoted their governments look for robust solutions, which has inevitably drawn them toward power generators. For instance, poor electrification rate in Sub-Saharan Africa has led market players into capitalizing on opportunities prevalent in the region. Also, the rising demand for electricity during prolonged electricity cuts has remained a key market driver.

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