The air cooled generators global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Air Cooled Generators Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size —
The air cooled generators market size has grown strongly in recent years. It will grow from $3.81 billion in 2023 to $4.06 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to rising demand for reliable backup power solutions, increased use of air-cooled generators in residential and commercial applications, advancements in generator technology improving efficiency and reducing maintenance, growing construction and industrial sectors requiring dependable power sources, an increase in outdoor activities and portable power needs, and the and the development of smart features and remote monitoring capabilities.
The air cooled generators market size is expected to see strong growth in the next few years. It will grow to $5.26 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to growing investment in power generation capacity, expanding industrial and construction activities, increasing focus on reducing maintenance costs, rising demand for uninterrupted power supply in both residential and commercial sectors, and government incentives and subsidies for backup power solutions. Major trends in the forecast period include the adoption of hybrid air-cooled generators combining renewable energy sources, integration of smart technology and IoT for enhanced generator monitoring, portable and compact air-cooled generator designs, expansion of the market in developing regions with rising power needs, improvements in fuel efficiency and emission reduction technologies, and eco-friendly and low-noise generator models.
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Scope Of Air Cooled Generators Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Air Cooled Generators Market Overview
Market Drivers –
The increasing demand for electricity is expected to propel the growth of the air-cooled generator market going forward. The increased adoption of electric vehicles, digital devices, and smart home technologies drives the rise in demand for electricity. Additionally, growing industrial activities and population expansion also contribute to higher energy needs across various sectors. Air-cooled generators are crucial for managing electricity demand by providing reliable backup power, supporting remote locations, reducing peak loads, and offering temporary power solutions for construction sites and events. For instance, in July 2024, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, global electricity demand will increase by approximately 4% in 2024, compared to a 2.5% growth forecast for 2023. Therefore, the increasing electricity demand is driving the growth of the air-cooled generator market.
Market Trends —
Major companies operating in the air-cooled generator market are focusing on advanced cooling technology with enhanced airflow designs, such as two-stage air coolers, to improve cooling efficiency and prevent overheating in high-demand scenarios. A two-stage air cooler in a generator is a cooling system designed to improve the efficiency and effectiveness of cooling for the generator’s engine or other critical components. For instance, in August 2023, Mitsubishi Heavy Industries Engine & Turbocharger Ltd., a Japan-based company that specializes in manufacturing engines and turbochargers, launched the MGS3100R generator, a 3,000 kVA generator set designed for commercial and mission-critical applications. This advanced model features a newly developed S16R2-PTAWT-CR engine with a two-stage air cooler and a space-saving design, optimizing performance and installation. It meets high emergency power supply standards and aims to enhance disaster resilience and business continuity across various industries.
The air cooled generators market covered in this report is segmented —
1) By Type: Portable, Stationary
2) By System: Enclosed System, Open Ventilated System
3) By End User: Residential, Industrial, Other End Users
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Regional Insights —
Asia-Pacific was the largest region in the air cooled generators market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the air cooled generators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies —
Major companies operating in the air cooled generators market are Mitsubishi Heavy Industries Ltd., Caterpillar Inc., GE Vernova Inc., Cummins Inc., Toshiba Corporation , Baker Hughes Company, Kubota Corporation, Yamaha Motor Co. Ltd., Atlas Copco AB, Kohler Co., Yanmar Co. Ltd., J.C. Bamford Excavators Limited, Makita Corporation, Doosan Corporation, Ingersoll Rand Inc., MTU Friedrichshafen GmbH, Generac Holdings Inc., Aksa Energy, Aggreko plc, Deutz AG, Briggs & Stratton Corporation, Baldor Electric Company, Himoinsa S.L., Pramac S.p.A., Multiquip Inc., Perkins Engines Company Limited, Honda Power Equipment, Taylor Power Systems Inc., Hipower Systems
Table of Contents
1. Executive Summary
2. Air Cooled Generators Market Report Structure
3. Air Cooled Generators Market Trends And Strategies
4. Air Cooled Generators Market — Macro Economic Scenario
5. Air Cooled Generators Market Size And Growth
…..
27. Air Cooled Generators Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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