March 24, 2022 12:30 ET | Source: ReportLinker ReportLinker

New York, March 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Electric Generators Global Market Report 2022" - https://www.reportlinker.com/p06247490/?utm_source=GNW The global electric generators market is expected to grow from $26.15 billion in 2021 to $26.85 billion in 2022 at a compound annual growth rate (CAGR) of 2.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $27.41 billion in 2026 at a CAGR of 0.5%. The power generator manufacturing market consists of revenues generated by entities (organizations, sole traders, or partnerships) that carry out design, manufacturing, and sales of electric generators.The market also consists of sales of generators which are machines that convert mechanical energy into electrical energy for applications in external circuits. A generator uses mechanical energy such as steam, gas, water to convert it into electrical energy for uninterrupted power supply. The main types of power generator manufacturing are gas generator, diesel generator, and CKD generator.A gas generator is a device which burns gas to generate electricity. Many hardware and home supply stores stock small gas generators, and larger versions are available from specialty companies and electricians who specialize in generator installation, maintenance, and repair.It is also possible to build a custom gas generator for a highly specialized application, such as supplying stable power to a server farm in a blackout. The various capacities of power generator are below 75kva, 75-375 kva, 375-750 kva, and above 750 kva that are used for stand by, peak shaving, and continuous application. The power generator are used by mining, oil and gas, construction, residential, marine, manufacturing, pharmaceuticals, commercial, and other end users. Asia Pacific was the largest region in the power generator market in 2021.Western Europe was the second-largest region in the power generator market. The regions covered in the power generator market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. Increasing demand from several industries such as mining, oil and gas, and pharmaceuticals is expected to contribute to the growth of the generator manufacturing market in the forecast period.Generators are used as a source of power backup in many industrial activities. However, in cases where grid infrastructure is absent, generators are used as the only source of power.For example, majority of the mining sites are located in remote locations, and require generators for their day-to-day power requirements. For instance, at the end of fiscal year 2020, the growth rate in the production of mining industry across India was about 1.6%. Preliminary data for the fiscal year 2021 indicates a dramatic deacceleration of the mining industry production growth rate. Economic growth in emerging markets is increasing the industrial activity which in turn will drive the market for generators in the forecast period. Government initiatives to promote building and maintaining a robust energy infrastructure will drive the demand for power generation systems which in turn is expected to restrain the market for generators in the forecast period. The worldwide pipeline power generation projects are valued US$4.46 trillion in 2019. As of 2019, Asia-Pacific was the leading region with $1.99 trillion worth of investments in pipeline power generation construction projects, followed by the Middle East and Africa with $960 billion each. Pipeline power generation projects in Europe and the Americas were valued at $ 739.5 billion and $852.3 billion, respectively. Governments in both developed and developing countries are focusing on building and maintaining a robust energy infrastructure, and it is expected to limit the growth of the generator manufacturing market. Generator manufacturing companies are increasingly manufacturing portable generators.A Portable generator provides electricity by running a gas-powered/diesel-powered engine that turns an on-board alternator to generate electrical power. Rising demand for uninterrupted and reliable power supply is increasing the demand for portable generators.Portable generators offer several advantages such as flexibility, and increased ease of use. The global portable generators market is expected to reach $2.5 billion by 2024 growing at a CAGR of 4.1% through 2019. In March 2020, NTPC’s acquired government stake in THDC India and North Eastern Electric Power Corp. this will help India’s largest power-generation utility boost its renewable energy fuel mix and curb the dominance of coal. The state-run power generator signed pacts with federal government to acquire New Delhi’s entire stake in the two companies for a total of 115 billion rupees ($1.52 billion US) in cash. The acquisition is part of the federal government’s push to raise cash through sale of state-owned assets to meet its disinvestment target of 650 billion rupees ($8.7 billion US) by the end of this fiscal year. The government has so far garnered 348.45 billion rupees ($4.7 billion US). The countries covered in the power generator market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. Read the full report: https://www.reportlinker.com/p06247490/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________