The generator market (up to 20 kVA) will experience exceptional growth

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Generator (up to 20 kVA) Market Outlook 2031

The global generator market (up to 20 kVA) was valued at US$2.5 billion in 2021
It is estimated to grow at a CAGR of 5.5% from 2022 to 2031
Global Generator Market (up to 20 kVA) is expected to reach a value of US$4.3 billion by the end of 2031

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Global Generator Market Overview (up to 20 kVA)

Generators are closely associated with the power generation industry. A generator set is a combination of two key components: an engine and an alternator. The engine is the mechanical part of the generator, while the alternator is the electrical part. Its function is to generate electricity. An internal combustion engine is used in a generator that runs on diesel, gasoline, natural gas, or mixed fuel. The two main types of diesel generators are standby generators and main/continuous generators. These come in a variety of sizes and power ratings, and can be further separated into portable and stationary generators.

Need for backup power due to energy deficit in developing countries to fuel market growth
Inconsistent and fluctuating power supply during peak hours requires additional backup power solutions in residential and small commercial applications. Generator sets up to 20 kVA offer cost-effective, reliable and low-maintenance solutions for emergency power needs.

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Developing countries around the world have high electrification rates, due to an increase in demand for electricity from urban and rural populations. Significant growth in infrastructure, information technology (IT), manufacturing, telecommunications and computer services has driven the demand for backup power in the residential and commercial sectors. Additionally, weaker electricity supply, relative to current demand, in Asia-Pacific is expected to drive demand for generators up to 20 kVA in the region.

Limited network connectivity and poor infrastructure to meet growing energy demands to drive the global market
Generators play a vital role in restoring power to off-grid areas. Off-grid areas have very limited or no access to grid-connected electricity, and these areas are totally dependent on secondary energy sources such as generators and solar power. Most countries in Sub-Saharan Africa and Latin America have a slow electrification rate and poor infrastructure to meet the growing demand for electricity in the region.

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Aging electricity infrastructure in developed economies to propel demand for generators
Developed regions, such as North America and Europe, achieved full electrification years ago. Currently, the electrical infrastructure in these regions lacks technological improvements and load capacity, leading to outages and power fluctuations. Rising power supply volatility and high demand for uninterrupted power supply is expected to drive the market for generators up to 20 kVA in developed countries.

Additionally, the old electrical infrastructure and aging power lines with frequent occurrences of natural disasters in North America lead to huge power outages in many states, which, in turn, is also expected to propel demand. of portable generators in the region.

Diesel generators to lead the global market; Natural gas will grow in importance as a fuel in the future
In terms of fuel, the global generator market (up to 20 kVA) has been separated into diesel, natural gas and others. The diesel segment held a key share of the global market in 2021. It is estimated to dominate the market during the forecast period. The demand for diesel generator sets is high due to flexibility, high power output and various applications in residential, commercial and industrial generator sets. The natural gas segment accounted for 15.4% market share in 2021. However, in the near future, the market is expected to witness a steady increase in the demand for natural gas powered generators, owing to growing environmental concerns regarding emissions. of diesel. The others segment held a relatively minor share of the market in 2021.

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Increased adoption of 16 kVA to 20 kVA generators due to their use in various applications
Based on power rating, the global generators market (up to 20 kVA) has been categorized into up to 5 kVA, 6 kVA – 10 kVA, 11 kVA – 15 kVA, and 16 kVA – 20 kVA. The 16 kVA – 20 kVA segment dominated the global generators (up to 20 kVA) market and accounted for 49.7% share in 2021. The demand for generators (up to 20 kVA) is increasing owing to its use for various applications in commercial and small industrial sectors, the growth of the global telecommunications sector, flexibility in the use of fuel and ease of installation.

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