MARKET REPORT

GLOBAL MARKET REPORT 2022-26: LOOKING AT GENERATOR SALES WORLDWIDE

According to Research and Markets - the global analysts - the worldwide generator sales market is expected to grow from $21.66 billion in 2021 to $22.90 billion in 2022 at a compound annual growth rate (CAGR) of 5.73%. The generator sales market is expected to grow to $28.62 billion in 2026 at a compound annual growth rate (CAGR) of 5.73%. The generator sales market consists of sales of generators by entities (organizations, sole traders, and partnerships) that refer to a machine with an internal combustion engine and electricity generator that can supply uninterrupted power to the generator installations in the requirements of end users. The generator converts mechanical energy into electric power for use in an external circuit. The main type of generator sales are diesel, gas, and other types. A diesel generator generates electricity by combining a diesel engine and an electric generator. A diesel generator can be used as an emergency power supply in the event of a power outage or in areas where there is no power grid connection. The sales channel included in generator sales are direct, indirect, and have application such as standby, prime & continuous, and peak shaving. These are used by industrial, commercial, and residential sectors. Asia-Pacific was the largest region in the generator sales market in 2021. The regions covered in the generator sales market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The generator sales market research report is one of a series of new reports that provides generator sales market statistics, including generator sales industry global market size, regional shares, competitors with a generator sales market share, detailed generator sales market segments, market trends and opportunities, and any further data you may need to thrive in the generator sales industry. This generator sales market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry, says the company whioch compiled it. The increasing demand for telecommunications is expected to propel the growth of the generator sales market. The demand for telecommunications is growing due to various reasons such as growing demand for communications and collaborations, rising spending, growth of electronic devices, advancements in technology, push from the government, and others. ASIA-PACIFIC WAS THE LARGEST REGION IN THE GENERATOR SALES MARKET IN 2021, FOLLOWED BY WESTERN EUROPE, EASTERN EUROPE, NORTH AMERICA, SOUTH AMERICA, MIDDLE EAST AND AFRICA.

This rise in demand for telecommunications will create a significant need for generators as telecommunication infrastructures such as telecom stations, and data centers as well as telecom equipment such as electronic machines, and computers need a continuous power supply and backup for effective operation. For instance, according to a report by the Indian Brand Equity Foundation (IBEF), the rural subscriber teledensity reached 44.40% in December 2021. India’s overall wireless internet data usage rose by nearly 7 times to 32,397 petabytes in 2021 from around 4,200 petabytes in 2018. The gross revenue of the Indian telecom sector grew from $33.97 billion in financial year (FY) 2019 to $35.87 billion in 2020 and $37.36 billion in 2021 respectively, indicating a continuous demand for telecommunications. Therefore, the increasing demand for telecommunications will drive the growth of the generator sales market. Technological advancement is a key trend gaining popularity in the generator sales market. The market is witnessing the development of innovative generators based on advanced technologies such as sustainable generators, hydrogen fuel cell generators, and others. These innovations offer continuous and efficient power supply/backup, sustainability, reduced cost, low maintenance, and other benefits. Key players in the market are focused on offering generators with revolutionary technologies to meet customer demands and strengthen their position in the market, such as A&I Power, a company offering sustainable innovations in power generation.