The global motor generator set market is anticipated at USD 2.6 billion in 2022. Demand is likely to remain high for motor generator set during the assessment period. This is due to the increased demand for energy efficiency and garnering USD 4.5 billion in 2033, recording a CAGR of 5.3% from 2023 to 2033. The market is likely to secure USD 2.7 billion in 2023.
| Data Points | Key Statistics |
|---|---|
| Motor Generator Set Market Size Value in 2023 | USD 2.7 billion |
| Motor Generator Set Market Forecast Value in 2033 | USD 4.5 billion |
| Global Growth Rate | 5.3% |
| Forecast Period | 2023 to 2033 |
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| Historical CAGR (2018 to 2022) | 3.8% |
|---|---|
| Forecasted CAGR (2023 to 2033) | 5.3% |
The motor generator set market progressed at a CAGR of 3.8% from 2018 to 2022 and amassed revenue worth USD 4.5 billion in 2023.
The adoption of a motor generator set is applied to provide an electricity supply to prevent the disruption of daily business activities due to power outages. The gas generator sets are anticipated to witness a higher infiltration rate expanding the motor generator set market share, despite the lower cost of diesel generator sets.
Welding applications and induction heating applications used for automotive, electrical, and electronics industries increase demand for motor generator set. The potential of generator sets to supply the required output voltage, and output frequency broadens the motor generator set market size.
The revival of mining activities implemented legislation driving the demand for motor generator sets. Expecting seaborne trades and construction of new vessels contribute to a marine diesel generator, further expanding the motor generator set market trend.
Increasing Applications in Industrial Sector to Drive the Market Growth
Rising awareness of environmental issues begets cost reduction, energy efficiency, and utilization of cleaner sources drives the sales of motor generator set. Avoiding external damage to grid infrastructure influences the adoption of motor generator sets.
The increasing significance and requirement for reliable emergency power supply propel the demand for motor generator set. The adoption of motor generator set boosts, owing to consistent electricity supply.
Growing customer demand for zero downtime expands the motor generator set market share. The motor generator set market size grows due to increasing reliance on electronics and electrical equipment to sustain day-to-day operations across a myriad of end users.
Rising utilization of products in the commercial sector such as complexes, telecom towers, hotels, and educational institutions surges the sales of motor generator sets. Progressing the requirement of mobile towers to accommodate a diverse consumer base bolsters the demand for motor generator sets.
The launch and expansion of large industries and retail stores significantly transpire the demand for consistent power supply, further increasing the adoption of motor generator sets.
The requirement for 200-330 kVA generator sets increases owing to growing infrastructure development, expanding the motor generator set market share. The adoption of motor generator set increases with the growing severity and frequency of weather-related disasters.
The smooth operation of several industries grows the demand for motor generators set for the necessity of a consistent power supply. The increasing need for standby power supply for automotive and pharmaceutical manufacturing industries to avoid electrical failures drives the sales of motor generator sets.
Escaping huge financial, product, and reputational losses of industries further expands the motor generator set market share. The easy transportation and portability of generator sets escalate the sales of motor generator sets.
Motor loads are maintained owing to the adoption of a motor generator set as they generate high surge currents for short periods in the beginning. Growing concerns over energy security and consumption of fossil fuels additionally boost demand for motor generator set.
The shale gas boom effectuates the increasing availability of natural gas, promoting the growth of the motor generator set market size. Lack of availability of direct power supply in rural or remote places increases the demand for motor generator set.
Principal Consultant
Stringent Government Regulations Hinder Market Sales
A high level of carbon emissions promotes stringent regulations, hindering the sales of motor generator sets. Interesting integration of clean energy alternatives may hamper the motor generator set market growth.
Certain countries are investing in renewable power sources, and setting high green energy targets curbs the sales of motor generator sets. Fast-paced technological developments provoking rapidly declining installation costs of solar panels obstruct the adoption of motor generator sets.
The development of renewable energy power generation and the adoption of energy storage products thwarts the motor generator market share. Disrupted supply chains and precautionary lockdowns further hinder the motor generator set market size.
The outbreak further delayed a wide array of projects, including infrastructure development, restructuring, and renovation protection, etc., obstructing the motor generator set market growth.
Favorable Government Policies on Developing Clean Energy Fuels Boost Demand for Motor Generator Sets.
The global motor generator set market size assures potential by focusing on noise reduction. Favorable government policies on developing clean energy fuels boost demand for motor generator sets.
Growing manufacturing operations and setup of high-power industrial units with variable load operations require the adoption of a motor generator set. Automatic or hybrid gensets provide standby power supply to avoid financial, reputational, and product losses promising growth of the motor generator set market share.
Increased end-user awareness of rising power outages improves sales of motor generator sets. The rising focus on digitisation increases the adoption of motor generator sets.
Key features, including high durability, capacity and low volatility rate of hybrid gensets, increase their demand and bolster the motor generator set market size.
The exponential development of data centers, along with upgrades in the IT sector, surges demand for motor generator sets.
Continuous power supply required across the healthcare sector further propels the motor generator set market growth.
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Ongoing Expansion of Telecom Infrastructural Projects in The Region to Drive the Market Growth
The Asia Pacific is the leading motor generator set market with the largest revenue share of 35.4% and is anticipated to witness the highest growth rate during the forecast period.
The burgeoning of industrial, commercial, residential, and retail infrastructures in this region requiring consistent power supply surges the adoption of motor generator set in this region.
China attributes the largest revenue across the region, owing to the expansion of commercial office spaces.
Increasing electricity supply demand, growing infrastructure projects and manufacturing facilities further contribute to the global motor generator set market growth.
Dynamic expansion of telecom infrastructure and robust construction promises growth in the motor generator set market share of India.
Increasing Adoption in The Industrial Sector to Drive the Market Demand
North America is the second leading market for motor generator sets, with an approximate share of 22% in 2023. Growing implementation of prepared measures to combat natural disasters such as bitter winters increases the adoption of motor generator set in this region.
Natural gas transportation introducing the implementation of robust infrastructure in this region requires the adoption of a motor generator set. Large shale gas reserves and the presence of major generator EPC and OEMs increases sales of the motor generator set.
Increased Demand for The Backup Power Systems to Boost the Market Growth
Europe is a growing motor generator set market with a revenue share of 18.5% in 2023. Infrastructural projects such as data and commercial sectors contribute to the European motor generator set market growth.
The growth of digitization in Germany makes the region the leading generator set market in Europe. Motor power generator sets from developing economies such as Brazil, China, and India growing in demand for clean fuel in emergency backup power systems in industrial and commercial applications boosts market growth.
DC to AC Segment to Remain Highly Sought After
By type, the DC to AC segment is expected to dominate the market in the forecast period. The segment is projected to account for a CAGR of 5.2% during the forecast period.
The DC motor is responsible for converting the input DC power into mechanical energy. It is typically driven by a DC power source such as a battery or a rectifier that converts AC power into DC power. DC to AC motor-generator sets are commonly used in various applications, such as in power conversion & backup systems, and industrial processes.
Industrial Segment to generate high Revenue
As per FMI’s analysis, the industrial segment accounts for 34.2 % of the total motor generator set market share. The segment is projected to account for a CAGR of 5.1% during the forecast period.
Motor generator sets are widely used as backup power systems in industrial facilities. They provide a reliable power source during utility power outages, ensuring uninterrupted operations and preventing costly downtime. Industries such as manufacturing plants, data centers, hospitals, and critical infrastructure rely on motor generator sets for backup power to protect sensitive equipment and maintain production continuity.
New and emerging key players in the generator set market are exploring advanced strategies to improve and promote the growth of the motor generator set market share.
Certain startup companies like Turntide Technologies, REVOLUTION Turbine Technologies, Axiflux, Comoab, Sync Power Solutions, etc., are tirelessly working to enhance the generator set market by coming up with environmentally friendly components and incorporating devices that cater to the growth of digitisation.
They provide the highest level of reliability and quality to consumers with a growing global factory network and the help of their leading innovations.
Some of the key market players in the motor generator set market are:
One of the market leaders continuously focusing on undertaking various organic and inorganic expansions to support its operational foothold in different regions, is Atlas Copco AB.
The company announced their plan to partner with Saudi Arabia-based Energia MTC to deliver its QAS range of diesel gensets in May of 2020.
Some of the recent developments in the motor generator set market are
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.3% from 2023 to 2033 |
| Market Value in 2023 | USD 2.7 billion |
| Market Value in 2033 | USD 4.5 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, Application, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East & Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel, Rest of MEA |
| Key Companies Profiled | The Horlick Company; Emerson Electric; Baldor Electric Co.; Ingersoll-Rand; General Electric Co; Krollmorgen Corp.; ABB Inc.; Allied Motion Inc.; Cummins Inc.; Kirloskar Oil Engines; Kohler Co.; Yamaha Motor; Powerica; Escorts; Sterling & Wilson; HIMOINSA; Caterpillar Inc.; Trane Technologies; Mahindra Powerol; Atlas Copco AB |
AcTouch, Ape, and AVL are the top software developers in the global market.
The overall market is forecasted to progress at 5.3% CAGR between 2023 and 2033.
The global market is estimated to acquire USD 4.5 billion by 2033.
The regional industry size could be almost 22% of the global industry size in 2023.
Asia Pacific is anticipated to account for 35.4% of the global market in 2023.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. DC to AC 5.2. AC to DC 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Industrial 6.2. Automotive 6.3. Electrical and Electronic 6.4. Energy/Oil/Power 6.5. Metal & Mineral 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. The Horlick Company 17.2. Emerson Electric 17.3. Baldor Electric Co. 17.4. Ingersoll-Rand 17.5. General Electric Co. 17.6. Krollmorgen Corp. 17.7. ABB Inc. 17.8. Allied Motion Inc. 17.9. Cummins Inc. 17.10. Kirloskar Oil Engines 17.11. Kohler Co. 17.12. Yamaha Motor 17.13. Powerica 17.14. Escorts 17.15. Sterling & Wilson 17.16. HIMOINSA 17.17. Caterpillar Inc. 17.18. Trane Technologies 17.19. Mahindra Powerol 17.20. Atlas Copco AB 18. Assumptions & Acronyms Used 19. Research Methodology
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Motor Generator Set Market
