The global generator market is set to surpass a valuation of US$ 32,170.8 mn in 2022 and expected register at a CAGR of 5.5% to reach US$ 54,873.6 mn by the end of 2032.
Sales of Generator are expected to grow by 1.7X times over the period of 2022 to 2032.Furthermore, with the increasing number of data centers, industries, hospitals, and other commercial complexes, the sales of generators have witnessed an increase in demand terms of sales, and the market is expected to register at a CAGR of 5.5% over the forecast period.
East Asia has the highest market share among all other regions in the market. As the nation with the biggest market value in 2021 among all others, China has a significant impact on this. Due in large part to the U.S.’s high demand as a high-income nation, North America ranks in second. Short Term (2022 Q2 to 2025): Increasing growth of the construction, mining industries, etc. will enhance the demand for generators.
Impact of COVID-19 on Generator Covers Market:
The report also contains the effect of the ongoing worldwide pandemic, i.e., COVID-19, on the Iron Oxide Pigments Market and what the future holds for it. It offers an analysis of the impacts of the epidemic on the international market. The epidemic has immediately interrupted the requirement and supply series. The Iron Oxide Pigments Market report also assesses the economic effect on firms and monetary markets. Futuristic Reports has accumulated advice from several delegates of this business and has engaged from the secondary and primary research to extend the customers with strategies and data to combat industry struggles throughout and after the COVID-19 pandemic.
Competitive Landscape
In Feb 2021, Generac Power System announced the set-up of new manufacturing, distribution operation, and assembly units in Trenton, South Carolina. The major reason for the set-up of this facility was to support the increasing number of home standby generator demand and other energy-associated technologies. This center will also serve as a distribution center for customers in the southeastern part of the United States.
Key Companies Profiled:
- AKSA Power Generation
- Briggs & Stratton Corporation
- Caterpillar Inc.
- Cooper Corporation
- Cummins Inc.
- Doosan Corporation
- Generac Power Systems
- General Electric Corporation
- Honda Power Equipment
- Others
