Global Generator (Up to 20 kVA) Market: Key Highlights
- The global generator (up to 20 kVA) marketwas valued at ~US$ 2.2 Bn in 2018, and is anticipated to expand at a CAGR of 5% during the forecast period.
- Among the fuel types, the diesel segment accounted for a major share of the global generator (up to 20 kVA) market in Diesel generators are the primarily employed generators across the globe.
- Among the power ratings, the 16 kVA - 20 kVA segment held a significant share of the global generator (up to 20 kVA) market in2018, due to the high use of 16 kVA – 20 kVA generators and flexibility in fuel usage, ease of installation, and diverse range of applications offered by these generators in commercial and small industrial sectors across the world.
- Among the types, the portable generator segment held a dominant share of the global generator (up to 20 kVA) market in 2018,due to the high operational flexibility and diverse applications offered by portable generators in residential and commercial sectors.
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Global Generator (Up to 20 kVA) Market: Competition Landscape
- The global generator (up to 20 kVA) market is highly fragmented, with the presence of a large number of players.
- Rise in technological advancements, strong brand recognition, strong position of established players, and strict government regulations pose a barrier to the entry of new players in the global generator (up to 20 kVA) market.
- Key players operating in the global generator (up to 20 kVA) market are Yamaha Motor Corporation, Cummins Inc., Kohler Co., Generac Holdings Inc., Caterpillar Inc., Honda Siel Power Products Ltd, Su-Kam Power Systems Ltd, KOEL Green, Greaves Cotton Limited, FG Wilson, Mahindra Powerol, and Jakson Group.
Asia Pacific Highly Lucrative Market for Generators (Up to 20 kVA)
- Asia Pacific dominates the global generator (up to 20 kVA) market. Asia Pacific consumes almost 30% of these generators produced across the world, which makes the region a major consumer of gensets. High consumption in the region is attributable to rise in the demand from the residential, telecom, rural, agriculture, and commercial sectors in Asia Pacific.
- North America is another major region in the global generator (up to 20 kVA) market. The U.S. holds a major share of the generator (up to 20 kVA) market in North America, in terms of both, volume and revenue. Most of the demand for up to 20 kVA generators in North America comes from the small commercial and residential sectors in the region, led by aging power infrastructure, incidence of natural calamities, and rising power fluctuations in the region.
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High Demand for Generators of Up to 20 kVA for Backup Power in Developing Economies Drives Market
- Inconsistent and fluctuating power supply during peak hours calls for the use of additional backup power solutions in residential and small commercial applications.
- Developing economies across the globe have high electrification rates, owing to rising power demand from urban and rural areas. Significant growth of industries such as infrastructure, information technology (IT), manufacturing, telecommunications, and IT-enabled services has driven the demand for backup power in residential and commercial sectors.
- Lower supply of electricity as compared to the current demand in Asia Pacific is likely to drive the generator (up to 20 kVA) market in the region during the forecast period.
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Key Drivers and Restraints of Global Generator (Up to 20 kVA) Market
- The requirement for up to 20 kVA generators in the residential and commercial sectors in the Middle East Africa and Latin America is rising, due to the sluggish rate of electrification, growing off-grid areas, and sluggish economic growth of these regions. In Sub-Saharan Africa, the urban electrification rate is 60% and the rural electrification rate is 14%, which encourages the use of backup generators to meet power requirements in rural as well as urban areas. More than 77% of people in the Middle East Africa and Latin America live without access to grid-connected electricity. This factor drives the generator (up to 20 kVA) market in these regions. Thus, growing off-grid areas and growth of the telecom sector in the Middle East Africa and Latin America are expected to drive the generator (up to 20 kVA) markets in these regions during the forecast period.
- Developed regions such as North America and Europe have accomplished total electrification several years ago. Currently, the power infrastructure in these regions lacks technological advancements as well as load-carrying capacity, resulting in power failures and fluctuations. Growing fluctuations in power supply and high demand for uninterrupted power supply drive the generator (up to 20 kVA) markets in North America and Europe.
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