Reducing Nosie and Carbon Emissions in Generators to be Key Strategies Adopted by Players

The rising gap in the demand and supply of electricity among commercial and industrial consumers is driving the increased installation of generators across the globe. The existing grid infrastructure is struggling with an increase in the power load and rise in power outages. Both industrial and commercial facilities face extensive monetary losses owing to power outages and this is significantly propelling the uptake of generators. According to a report published by Transparency Market Research (TMR), the global generator market is expected to rise from US$16.61 bn in 2015 to reach US$24.76 bn by 2024 expanding at a CAGR of 4.58% between 2015 and 2024.

TMR analysts address three important questions that companies operating in the generators market have:

Q. What are the strategies that companies in the global generators market need to adopt in order to grow in the market?

With government and environmental bodies keeping an eye on carbon emissions, improvement in the efficiency in terms of fuel consumption should be the key strategy among key players in the generators market. Manufacturers should also focus on developing generators that make less noise, offer advanced facilities such as remote monitoring and wireless connectivity. Companies can focus on emerging economies by spreading their distribution channels to these areas. This will help them gain competitive edge above other players.

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Q. Which market—diesel or natural gas—is expected to have a promising future?

Although the diesel generators market is currently leading owing to their wide presence or availability, the conventions are expected to change their course. In the long term, the natural gas generator market is expected to expand at a fast pace owing to a growing emphasis on minimizing harmful emissions. The natural gas generator market is expected to expand at a 7.94% CAGR from 2015 to 2024.

Q. What are the recent developments by key players in the global generator market?

Briggs & Stratton Corporation has introduced PowerSmart Series™ Inverter Generators to enable soccer fans to experience an uninterrupted show in October. These generators have reduced noise levels and are expected to be efficient. Caterpillar Inc. announced on September 2016 that the company will restructure its operations in Northern Ireland. The consideration for restructuring is expected to reduce the cost of generator production and is a smart response by the company to the current economic and business conditions.

Multiquip Inc. has opened a new 28,000 square foot production facility on August 2016 for its MQ Power Generators in Carson, U.S. This new facility is expected to enable the company to shorten its response time for customization and modification requests by consumers. It is also expected to help the company provide improved customer support for the Southern California region.

Such considerations and realignment by key players for the benefit of consumers are expected to help the market grow significantly in the coming years.

Success in Generators Market Rests on High-tech Features and Competitive Pricing, finds TMR

Cutting through the noise in a highly fragmented generators market is becoming increasingly difficult for both regional and global players. This has manifested in the form of aggressive consolidation efforts and distribution network expansion strategies, finds Transparency Market Research (TMR) in a new study. The leading companies in the global generator market include Cummins Inc., Caterpillar Inc., Generac Holdings Inc., Kohler Co., Mitsubishi Heavy Industries Ltd., and Briggs & Stratton Corporation. A substantial part of the revenues generated via generator sales globally were concentrated in this camp in 2015, finds TMR.

“With regulators keeping a close watch on CO2 emissions and the efficiency of generators, constant innovation and improvement have become the mantra for growth. Other focus areas should remain noise reduction, wireless connectivity, remote monitoring, and power system integration,” says a TMR analyst. Companies that are able to grasp changing consumer preferences and expand their distribution channels to far-flung areas in emerging economies will carry a huge competitive advantage.

“Natural gas generator sets are expected to witness a spike in demand. Industrial and commercial facilities are expected to install generator sets in large numbers,” states the analyst.

Natural Gas Fueled Generators are Looking at a Promising Future

The rising fuel prices and supply gap in electricity are driving more industrial and commercial consumers to install generators. As the existing grid infrastructure grapples with the increasing load, power outages can mean millions of dollars’ worth of downtime for industrial and commercial facilities. Consequently, the demand for generators is expected to remain strong until 2024, TMR forecasts.

However, companies are now faced with strict mandates issues by regulatory bodies. The future for natural gas-fueled generators looks promising as a result. Irrespective of the power rating or fuel type, generators also now need to meet higher expectations in terms of noise reduction, wireless connectivity, and greater efficiency.

Despite no evident dearth of drivers, global generator sales could take a marginal hit from the swiftly expanding electricity transmission and distribution network worldwide.

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Generator Installations to Rise Swiftly in Commercial and Industrial Sector

According to Transparency Market Research, the global generator market had a valuation of US$16.61 bn in 2015 and is expected to expand at a CAGR of 4.58% to reach US$24.76 bn by 2024.

The global generator market has been segmented on the basis of power rating, fuel type, application, and end-user. By power rating, the 100-350 kVA segment stood as the largest in 2015 owing to the fact that both residential and commercial facilities use generators in the segment. The fastest growth is projected for the above 1000 kVA power rating segment at a 6.51% CAGR during the forecast period.

Similarly, basis fuel type, diesel generator sets is the largest segment owing to the conventionally ubiquitous nature of diesel gensets. The conventions, however, are on course to changing in the long-term future as TMR finds that the natural gas generator set segment will expand at the fastest CAGR of 7.94% through the forecasting horizon. This change will be driven by the strong emphasis on minimizing harmful emissions.

Basis application, prime continuous power emerged as the largest segment in 2015, contributing revenues to the tune of US$8.12 bn in that year. By type of end user, the commercial and industrial segment accounted for the biggest share in the pie at 58.50% in 2015.

The information in this review is based on a Transparency Market Research report, titled “Generator Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024.”

Generator Market – Fuel Type Segment Analysis

• Diesel Generator Sets
• Natural Gas Generator Sets
• Other Fuels Generator Sets

Generator Market – Power Rating Segment Analysis

• Below 100 kVA
• 100–350 kVA
• 350–1000 kVA
• Above 1000 kVA

Generator Market – Application Segment Analysis

• Standby Backup Power
• Prime Continuous Power
• Peak Shaving Power