0.5-1.5 MW Generator Market Size, Growth, Share by 2031
The 0.5-1.5 MW generator market size is projected to reach US$ 12.3 billion by 2031 from US$ 6.4 billion in 2023. The market is expected to register a CAGR of 8.5% during 2023–2031. The increasing demand for hybrid, bi-fuel or dual-fuel generators is likely to remain a key trend in the market.
0.5-1.5 MW Generator Market Analysis
Increasing demand for uninterrupted power supply is projected to drive the 0.5-1.5 MW generator market market growth during the forecast period. In addition, the rising demand for distributed power generation is projected to boost the 0.5-1.5 MW generator market growth in the coming years. Moreover, a rise in investment towards research and development of smart generator solutions is expected to create opportunities for the key players operating in the market from 2023 to 2031. Furthermore, the increase in demand for portable generators with a capacity of less than 1.5 MW is expected to fuel the market growth in the coming years.
0.5-1.5 MW Generator Market Overview
The key players in the global 0.5-1.5 MW generator market ecosystem include component manufacturers, 0.5-1.5 MW generator manufacturers and end users. The component manufacturers operating in the global 0.5-1.5 MW generator market offer numerous parts and components for manufacturing 0.5-1.5 MW generators. Various types of components are used to manufacture these generators: engines, alternators, fuel systems, voltage regulators, cooling and exhaust systems, control panels, and others. Timely delivery of all of these components is critical to the efficient operation of all generator manufacturing facilities. Thus, any operational impact on these component suppliers will directly impact the 0.5-1.5 MW generator market. The manufacturers of 0.5-1.5 MW generators are engaged in various processes involving design, assembly and production to convert the raw material into a finished good.
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0.5-1.5 MW Generator Market: Strategic Insights
Market Size Value in US$ 6,176.78 million in 2022 Market Size Value by US$ 10,440.97 million by 2028 Growth rate CAGR of 9.1% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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0.5-1.5 MW Generator Market: Strategic Insights
| Market Size Value in | US$ 6,176.78 million in 2022 |
| Market Size Value by | US$ 10,440.97 million by 2028 |
| Growth rate | CAGR of 9.1% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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0.5-1.5 MW Generator Market Drivers and Opportunities
Increasing Adoption of Distributed Power Generation to Favor Market
The increasing demand for power is leading to various forms of decentralized power generation. Although solar PV and other renewable technologies receive the majority of coverage, they represent only a small portion of the distributed market. In order to meet the increasing demand for power, diesel generators were used for decentralized power generation. However, due to factors such as cheap natural gas and increasingly stringent environmental regulations, demand for distributed natural gas generation (DNGG) technologies is increasing. Due to the increasing demand for compact, resilient, and switchable power supply, the demand for DNGG in the market is also increasing. Various companies use technology to provide continuous power to their facilities. Therefore, the demand for DNGG is increasing as it is a reliable power source, which further promotes the growth of the 0.5-1.5 MW generator market.
Development of Smart Solutions for Generators
Nowadays, even the basic generators have a control panel that helps the operator check the functional status of the generator during operation. To further develop the control panel, intelligent functions are integrated that provide information about power, remaining fuel, and other functions. Some smart generators also help to check performance and status using an app on the mobile phone. In addition, various large standalone generators used in hospitals, hotels, industrial plants, and other companies have a remote monitoring solution. These generators provide a complete analysis of how much fuel the generator uses at quarter, half, or full load. This fuel consumption rate allows customers to calculate how much fuel they need for a given time.
Additionally, some generators send telephone alerts when verification is required. This helps operators keep the health of their generators under control even when they are not around. Additionally, technologies such as solder are increasingly being integrated into 0.5-1.5 MW generators to make them smarter. For example, in March 2021, Trinetra announced that it had partnered with the diesel generator manufacturer to digitally improve generator activities using IoT. The generator's centralized solution is supported by GPS, allowing remote assets to be monitored and tracked 24/7. Additionally, the company has deployed an IoT solution to automate its process and reduce manual interventions. Therefore, developing such smart solutions for the 0.5-1.5 MW generator will further increase the demand in the market.
0.5-1.5 MW Generator Market Report Segmentation Analysis
Key segments that contributed to the derivation of the 0.5-1.5 MW generator market analysis are fuel type and industry.
- Based on fuel type, the 0.5-1.5 MW generator market is divided into diesel, natural gas, hydrogen, and others. The diesel segment held a larger market share in 2023.
- Based on industry, the market is classified into oil & gas, IT & telecom, power & utilities, and others. The IT & telecom segment held the largest share of the market in 2023.
0.5-1.5 MW Generator Market Share Analysis by Geography
The geographic scope of the 0.5-1.5 MW generator market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Based on geography, the global 0.5-1.5MW Generator market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). Asia Pacific registered the largest 0.5-1.5 MW generator market market share in 2023, followed by North America and Europe. China is one of the prominent countries in the 0.5-1.5 MW generator market in the Asia Pacific. 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 0.5-1.5MW Generators for uninterrupted power supply. Asia Pacific countries including 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 0.5-1.5MW Generators to ensure the continued functioning of these machinery, which is contributing to the APAC 0.5-1.5MW Generators market growth.
0.5-1.5 MW Generator Market Report Scope
0.5-1.5 MW Generator Market News and Recent Developments
The 0.5-1.5 MW generator market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the 0.5-1.5 MW generator market are listed below:
- 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 fit in smaller footprints. (Source: Cummins, Inc., Press Release, July 2022)
- Cummins launches new 1MW twin pack rental power diesel generator. The C1000D6RE offers a competitive rental power solution for a diverse range of applications throughout North America by Cummins. (Source: Cummins, Inc., Press Release, June 2022)
0.5-1.5 MW Generator Market Report Coverage and Deliverables
The “0.5-1.5 MW Generator Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- 0.5-1.5 MW generator market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- 0.5-1.5 MW generator market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- 0.5-1.5 MW generator market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the 0.5-1.5 MW generator market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Fuel Type, and Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
8.5% is the expected CAGR of the 0.5-1.5 MW generator market.
US$ 12.3 billion estimated value of the 0.5-1.5 MW generator market by 2031.
Siemens Energy, Atlas Copco AB, ABB Ltd, Caterpillar Inc., Cummins Inc, Yanmar Holdings, Generac Power Systems, Kohler Co., Mitsubishi Heavy Industries, and Rolls Royce Holdings are some of the leading players in the 0.5-1.5 MW generator market.
The increasing demand for hybrid, bi-fuel or dual fuel generators is the future trend of the 0.5-1.5 MW generator market
Asia Pacific dominated the 0.5-1.5 MW generator market in 2023.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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