Commercial Generator Market Size, Share & Industry Analysis, By Fuel Type (Diesel , Gas, Others), By Power Rating (75 kVA, 75-375 KVA, 375-750 KVA, Above 750 KVA), By Portability (Portable, Stationary), By Application (Continuous, Peak Load, Standby), By End-user (Healthcare, Educational Institutes, Data Centers, Hospitality, Others) And Regional Forecast, 2024-2032

Generators can be defined as machines that is used to produce electric energy in the form of current and voltage. Generators produce electricity based on the principle of induction. A commercial generator is similar to a residential generator. This generator has higher power output and they are large in size. This generator is widely used to power large commercial facilities during power outages or blackouts. Diesel and gas-fuelled generators are the most commonly used commercial generators in the market.  

Based on fuel type, the global commercial generators market is segmented into diesel, gas, and others. The diesel generators segment is likely to witness significant growth during the forecast period. Diesel generators offer scalable, weather-independent, and flexible operations. These generators have low costs and provide efficient power availability. They have extended product life and offer high efficiency. These factors drive growth in the diesel generators segment during the forecast period. The gas generators are less expensive but they are more adequately used in the residential sector.

Based on power rating, the global commercial generators market is segmented into 75 kVA, 75-375 kVA, 375-750 kVA, and above 750 kVA. The 350-750 kVA is has witnessed significant market growth in 2020. The 375-750 kVA rated units have been highly used as the demand for prime power and backup is increasing across commercial buildings such as telecom towers, hospitals, hotels, and others. Mobile towers are expanding rapidly to fulfill the demand of the increasing population across many countries. This drives growth in 375-750 KVA rated units during the forecast period. The 75KVA rated units are widely used in several remote areas that lack connection to the central power transmission network. These are solely dependent on generators for electricity.

Based on portability, the global commercial generators market is segmented into portable and stationary. The portable generators are not meant to be installed permanently and they work with stand-alone applications. These types of generators are usually functional for less than 12 hours of run time. They are used when backup power requirements are low. The stationary generators are permanent generators and are highly used in the commercial sector to address power requirements for a longer period. The stationary generators segment is likely to foresee significant growth during the forecast period.  

Based on application, the global commercial generators market is segmented into continuous, peak load, and standby. The standby segment is likely to register significant growth during the forecast period. These units are highly preferred to provide power supply during power outages to avoid the product, financial and reputational losses. The deployment of these units in commercial infrastructure such as large industries, the commercial complex is widely increasing to fulfill electricity demand. Thus, drives growth in the standby application segment during the forecast period. Continuous power units are widely used in places where the power grid is not reachable like mining, military operations, etc. it is used to supply power at a constant 100% load.   

Based on end-user, the global commercial generators market is segmented into healthcare, educational institutes, data centres, hospitality, and others. The healthcare segment is likely to contribute significantly to the growth of the commercial generator market. The healthcare segment widely used generators as the demand for uninterrupted power supply to the ICUs, operation theatres is increasing to oppose the break in the operational flow. The rising cases of COVID-19 across the world is another factor, which increases the demand for continuous power supply in the healthcare system. Thus, increases the adoption of generators in the healthcare segment. The demand for constant power supply is also very in data centers as the power outages or downtimes can cause high financial losses, and informational or product losses. This increases the adoption of generators in data centers.

The expansion of commercial infrastructure such as hospitals, and other infrastructure is increasing widely across the world. The data enter industry is expanding rapidly and this increases mounting outage cost. The frequency of natural calamities is also rising. The focus on digitalization is widely increasing across various countries and the telecom sector is widely expanding. However, the high production cost is a restraining factor for the growth of the commercial generator market. 

Key Market Driver -

Expansion of commercial sectors and data centers

Key Market Restraint -

High production cost

Key Players Covered:

Some of the major companies in the global commercial generator market are Cummins Inc., Caterpillar Inc., Honda Siel Power Products Ltd., Kohler Co., Doosan, Generac Power Systems, VPSI MTU Onsite Energy, Aksa Power Generation, Mitsubishi Heavy Industries, Wuxi Kipor Power, Wartsila, Himoinsa, Kirloskar Electric Co. Ltd., and Yanmar.

Regional Analysis:

The global commercial generator market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region dominated the market in 2020. Commercial spaces such as malls, retail stores, and hotels, etc. are widely developing in this region. This increases the demand for power supply in the commercial sector and thus, increases the sales of generators in this region. The countries such as China, Japan, India, and South Korea are major growth contributors in this region.

North America region is estimated to foresee significant growth during the forecast period. The infrastructure of data centers, hospitals, and other commercial sectors is developing rapidly in this region. The vulnerability of the power grid to weather-based outages is also growing. This increases demand for reliable backup power solutions which further increases the demand and adoption of commercial generators in this region.

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Segmentation

Key Industry Developments

• In March 2021, Mitsubishi Heavy Industries is developing 2000 KVA diesel generators for the highest output. This generator will be used in data centers, hospitals, and the commercial sector.


• In August 2020, Generac Power Systems has introduced a 24 KW generator with low cost and high efficiency.