[Latest] US Generator Market Size/Share Worth USD 11.8

Austin, TX, USA, July 24, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “US Generator Market Size, Trends and Insights By Type (Stationary, Portable), By Voltage Rating (Below 100 kVA, 100kVA to 350 kVA, 350 kVA to 1000 kVA, Above 1,000 kVA), By Application (Backup Power, Continuous Power, Peak Shaving Power), By End User (Residential, Commercial, Industrial), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.

“According to the latest research study, the demand of US Generator Market size & share was valued at approximately USD 5.4 Billion in 2023 and is expected to reach USD 5.8 Billion in 2024 and is expected to reach a value of around USD 11.8 Billion by 2033, at a compound annual growth rate (CAGR) of about 6.3% during the forecast period 2024 to 2033.”

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US Generator Market: Overview

A generator is a device that uses mechanical energy to produce electrical energy. It functions on the electromagnetic induction principle, which states that an electric current is generated when a conductor moves through a magnetic field.

In the US generator market, several trends are shaping the industry landscape. One notable trend is the growing use of renewable energy solutions, which is driven by environmental restrictions and sustainability programs. This includes an increasing demand for natural gas-powered generators, which emit fewer pollutants than typical diesel generators.

Furthermore, there is a growing interest in renewable energy sources such as solar and wind power, which has led to the development of hybrid generator systems that mix conventional and clean energy technologies for increased efficiency and lower environmental effects.

Another trend is the advent of smart technologies such as remote monitoring, predictive maintenance, and digital controls, which improve the reliability and performance of generator systems while allowing for proactive management and optimization of power production assets.

Furthermore, there is a growing emphasis on resilience and grid independence, with businesses and homeowners investing in standby and backup power solutions to reduce the risk of grid outages, extreme weather events, and other disruptions while ensuring uninterrupted power supply and operational continuity.

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By type, the stationary segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The trend in stationary generators is toward higher use of natural gas and renewable energy sources, as well as the incorporation of smart technology for remote monitoring, efficiency optimization, and grid connectivity.

By voltage rating, the 350 kVA to 1000 kVA segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The 350 kVA to 1000 kVA generator category is seeing a growth in demand for efficient, environmentally friendly solutions with modern control systems, remote monitoring capabilities, and variable fuel alternatives.

By application, the continuous power segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Continuous power trends include a rising need for dependable energy, which drives innovations in generator technology such as improved efficiency, cleaner fuels, and smart integration for uninterrupted power delivery, particularly in important applications.

By end user, the industrial segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Automation and robotics integration, the use of renewable energy sources, an emphasis on sustainability and eco-friendly practices, digitalization for increased efficiency, and the advent of industrial Internet of Things (IIoT) technologies are some of the industrial trends.

Aksa Power Generation designs, manufactures, distributes, sells and services electrical power generators worldwide.

Report Scope

Feature of the Report	Details
Market Size in 2024	USD 5.8 Billion
Projected Market Size in 2033	USD 11.8 Billion
Market Size in 2023	USD 5.4 Billion
CAGR Growth Rate	6.3% CAGR
Base Year	2023
Forecast Period	2024-2033
Key Segment	By Type, Voltage Rating, Application, End User and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Country Scope	US
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the US Generator report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the US Generator report has been modified to include the COVID-19 impact study prior to delivery.)

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CMI has comprehensively analyzed the US Generator market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict an in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this US Generator industry.

The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.

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Key questions answered in this report:

What is the size of the US Generator market and what is its expected growth rate?
What are the primary driving factors that push the US Generator market forward?
What are the US Generator Industry's top companies?
What are the different categories that the US Generator Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the US Generator market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2024−2033
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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US Generator Market: Recent Developments

In February 2022, the Massachusetts Institute of Technology (MIT) Lincoln Laboratory held a demonstration for the USMC of the portable hydrogen fuel generator.

In February 2023, Cummins Inc. introduced readily available natural gas standby generator sets with power outputs of 175KW and 200KW for customers in North America.

In January 2022, Honda announced plans to begin selling its new EU32i portable generator. The device has a freshly built dedicated engine with a maximum output of 3.2 kVA. The company’s first target markets are Europe and North America, with the product eventually being introduced to the rest of the globe.

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Browse the full “US Generator Market Size, Trends and Insights By Type (Stationary, Portable), By Voltage Rating (Below 100 kVA, 100kVA to 350 kVA, 350 kVA to 1000 kVA, Above 1,000 kVA), By Application (Backup Power, Continuous Power, Peak Shaving Power), By End User (Residential, Commercial, Industrial), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” Report at https://www.custommarketinsights.com/report/us-generator-market/

List of the prominent players in the US Generator Market:

Caterpillar Inc.
Generac Holdings Inc.
Cummins Inc.
Kohler Co.
Briggs & Stratton Corporation
Wärtsilä Corporation
MTU Onsite Energy
Mitsubishi Heavy Industries Ltd.
Wacker Neuson SE
Yanmar Holdings Co. Ltd.
Aggreko PLC
Atlas Copco AB
Himoinsa S.L.
Ingersoll Rand Inc.
Kirloskar Electric Company Ltd.
MQ Power Corporation
Multiquip Inc.
SDMO Industries
Siemens AG
FG Wilson
Others

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The US Generator Market is segmented as follows:

By Type

Stationary
Portable

By Voltage Rating

Below 100 kVA
100kVA to 350 kVA
350 kVA to 1000 kVA
Above 1,000 kVA

By Application

Backup Power
Continuous Power
Peak Shaving Power

By End User

Residential
Commercial
Industrial

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This US Generator Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Key Players in This US Generator Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Market Status of the US Generator Market? What Was the Capacity, Production Value, Cost and PROFIT of the US Generator Market?
What Is the Current Market Status of the US Generator Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of US Generator Market by Considering Applications and Types?
What Are Projections of the US Generator Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is US Generator Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On US Generator Industry? What are Macroeconomic Environment Analysis Results? What Are Macroeconomic Environment Development Trends?
What Are Market Dynamics of US Generator Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for US Generator Industry?

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Reasons to Purchase US Generator Market Report

US Generator Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
US Generator Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
US Generator Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
US Generator Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the US Generator market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide US Generator market analysis.

The competitive environment of current and potential participants in the US Generator market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide US Generator market should find this report useful. The research will be useful to all market participants in the US Generator industry.
Managers in the US Generator sector are interested in publishing up-to-date and projected data about the worldwide US Generator market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in US Generator products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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