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Power outages have been a huge issue in several countries, which eventually affected industries. Continuous power outage problems in industries led to the invention of stationary generator. Moreover, sudden power outage disturbs the workflow of industries. As a result, many industries widely adopt these generators to avoid any power disturbance. Industries, such as automobile, manufacturing, mining, oil & gas, telecommunications, and pharmaceuticals, are a few domains employing these generators.
The constant upgrade in products and industries is the cause of the market growth of stationary generator. The global population is on a constant rise, leading to rise in urbanization. The key competitors are focused on developing generators with less maintenance and high power. As per a report by Fortune Business Insights™, the market for stationary generator is expected to grow from USD 20.83 billion in 2021 to USD 31.96 billion in 2028 at a CAGR of 6.3% during the forecast period.
Positive and negative impacts of the pandemic were noticeable in every industry. The global market noticed a decline in growth due to strict rules and regulations, including lockdowns. The remote work culture adopted due to the shutdown of all industries noticeably crashed the requirement for power supply.
Significant infrastructure development contributed to the exponential growth of the market.
Fortune Business Insights™ Presents Top 10 Stationary Generator Manufacturers:
Caterpillar Inc. is one of the world’s largest manufacturers of construction equipment and was established by Clarence Leo Best in 1925. The company designs, engineers, markets, manufactures, develops, and sells insurance, engines, machinery, and financial products through a global dealer network.
In 2020, six new 50Hz standby ratings were unveiled by Caterpillar. These ratings offer high power coupled with less maintenance and affordable installation costs. The Cat 3516E diesel generator set the capacity from 3,000 kVA to 3,500 kVA and reached the tier 2 emission of the U.S. EPA.
Toyota Motor Corporation, commonly known as Toyota, is a Japanese multinational automotive manufacturer that was founded by Kiichiro Toyoda in 1937. It is headquartered in Japan and produces more than 10 million vehicles every year.
In September 2019, a stationary fuel cell generator was launched at the company’s headquarters using the Mirai Fuel Cell Electric Vehicle (FCEV) equipped fuel cell system.
Himoinsa develops various generators such as gas generators, hybrid generators, lighting towers, control panels, and diesel generator sets. In 2019, it expanded its worldwide scope by organizing a new subsidiary in Morocco. A local team of professionals and a warehouse are available in the new sales office of Casablanca to manage the demand for lighting towers, spare parts, and generator sets.
Cummins is a multinational company based in the U.S. It manufactures, develops, and allocates filters, engines, and power generation equipment. C1300N6 NFPA 110 Type 10 and C1000N6B natural gas generator sets were launched by Cummins on May 17, 2021 for peaking and backup power applications.
Aggreko was established in 1962 and is headquartered in the U.K. It offers power products, solutions, services, and modular energy to back renewable and non-renewable generation methods. In August 2021, it was named the official supporter of Modular Energy Solutions for the 2022 Birmingham Commonwealth Games. The athletes competed at 14 different locations in 19 different sports. These locations include the new aquatics center in Sandwell, powered by innovative temporary power solutions by Aggreko.
Generac Power Systems has been producing the most robust, environment-friendly, efficient, and dependable generators & power systems since 1959. It launched a new and powerful generator that produces 24 kilowatts of peak power while consuming up to 70% less space than the usual generator size and helps in saving around USD 8,0001 in the purchase and installation cost.
Atlas Copco is an international industrial company founded in 1873, headquartered in Sweden and manufactures industrial tools and equipment. In 2018, Atlas Copco launched a new Variable Speed Generator (VSG), a concept of fuel-saving TwinPower for modular power plant applications and the HiLight series' energy-efficient electric LED light towers.
Briggs & Stratton is the largest manufacturer of small engines. It is a power generating leader and a leading pressure marketer in the world. In 2021, Briggs & Stratton doubled the standby generators output of the generator production to Auburn, Alabama.
Kohler Power is an American company established by Michael Kohler in 1873, headquartered in the U.S. It is a manufacturer of generators, engines, and UPS products to power hospitals, stadiums, homes, and lawnmowers.
In April 2021, the company unveiled a noticeable capital expansion of home stationary generator assembly at Mississippi, its Hattiesburg manufacturing site. At Hattiesburg, it manufactures cooled engines for various purposes, including home standby generators.
PRAMAC designs and produces portable and stationary generator, light towers, and a huge range of material handling systems. In 2020, it established a new product of stationary diesel in the GSW range. This range was introduced to meet any application's requirements that range from 10kVA to 820kVA.
Will Inadequate Power Infrastructure Keep Boosting the Stationary Generator Industry growth?
The demand for electricity has always been high and is leading to higher power consumption in the world. The consistently growing population leads to a higher demand for electricity, whereas sudden power outage boosts the market share of stationary generator. Several manufacturers are launching generators that offer more power and have lower maintenance & installation costs. The market is consistently rising as the industries are adopting new technologies. In the current scenario, the population is anticipated to consistently rise, which will drive the market growth.