A generator is a machine that helps to supply electrical power during a power outage, thus helping to prevent discontinuity or disruption in any business operations. It comprises various components such as an engine, alternator, fuel system, voltage regulator, cooling and exhaust systems, and control panel. Also, large generators allow businesses to conduct their operations with minimal interruption during a power outage, thus not affecting the company’s revenue. In addition, large generators provide energy for long distances without disrupting efficiency, which is essential for various industrial operations.
Caterpillar Inc, Cummins Inc, Rolls-Royce plc, INNIO Jenbacher GmbH & Co OG, and Mitsubishi Heavy Industries Ltd –Prominent Market Participants in Large Generator Market
The growing demand for uninterrupted power supply in mining, oil & gas, manufacturing, and other industries is fueling the growth of the large generator market. These industries need a continuous supply of power to guarantee smooth operation of various devices and heavy machinery, further raising the demand for large generators. Further, the increasing demand for hybrid, bi-fuel, or dual fuel generators drives the growth of the large generator market, as these generators provide efficient power supply and are also cost-effective.
Moreover, the increasing demand for distributed power generation in various industries for continuous power supply is creating an opportunity for the growth of the large generator market. Also, the growing adoption of various technologies, such as IIoT in large generators for its efficient operation, is expected to boost the demand for smart generators in the coming years. These smart generators can help to monitor the health of the generator regularly and provide an alert in case of any failure.
Asia Pacific held the largest market share in 2021, followed by North America and Europe. Rising industrialization in countries such as China, Japan, Taiwan, Indonesia, and Singapore and growing manufacturing industry in these countries are a few factors that are creating the demand for the installation of large generators for uninterrupted power supply. Asia Pacific countries such as China, Japan, South Korea, and India observed a significant paradigm shift in respective industrial sectors with digitization and automation which requires nonstop functioning of machines in industries, which increased the demand for large generators to ensure continued functioning of these machineries, which is contributing to the APAC large generators market growth.
The top five companies in the large generator market are Caterpillar Inc, Cummins Inc, Rolls-Royce plc, INNIO Jenbacher GmbH & Co OG, and Mitsubishi Heavy Industries Ltd. The above listing of key players is derived by considering multiple factors such as overall market insights, dynamic trends, revenue, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. A few of the important market initiatives and product developments from the industry are mentioned below:
| Year | News | Country |
| 2022 | Cummins introduces CENTUM Series generators which provide the flexibility to deliver precise power in a smaller footprint while meeting evolving sustainability standards. These generators are made to meet the precise power needs of the customers with high efficiency engines that fir in smaller footprint | North America |
| 2022 | The new range of Energy Storage Systems from Atlas Copco maximizes sustainability for operators by working in hybrid mode with efficient diesel-driven generators. This solution helps them cover power peaks and low loads – extending their lifespan and providing a rapid return on investment (ROI). | APAC |
| 2022 | Proveedora de Bombas, Motores y Compresores has agreed to be the exclusive Mexican supplier of the Atlas Copco WEDA submersible pumps in all of Mexico. Thanks to this contract, the company provides its customers with high-quality submersible pumps to ensure optimal performance and efficiency. | North America |
