PUBLISHER: The Business Research Company | PRODUCT CODE: 1619403
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619403
Air-cooled generators are generators where internal components such as the engine and alternator are cooled by air rather than liquid coolant. Air is used to dissipate the heat produced during operation, ensuring efficient performance and preventing overheating. These generators are primarily used to provide electrical power when the main power supply is unavailable or insufficient, and they are commonly used as backup or portable power sources. They come in various sizes and capacities depending on the specific application.
The main types of air-cooled generators include portable and stationary models. Portable air-cooled generators are designed for easy transport, often featuring wheels or handles, and are typically used for temporary power needs such as outdoor activities, construction sites, or emergency situations. These systems are categorized into enclosed systems and open-ventilated systems, serving end-users in residential, industrial, and other settings.
The air cooled generator market research report is one of a series of new reports from the business research company that provides air cooled generator market statistics, including air cooled generator industry global market size, regional shares, competitors with an air cooled generator market share, detailed air cooled generator market segments, market trends and opportunities, and any further data you may need to thrive in the air cooled generator industry. This air cooled generator market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 during the historic period can be attributed to the rising demand for reliable backup power solutions, increased use of air-cooled generators in residential and commercial settings, advancements in generator technology that enhance efficiency and reduce maintenance, growth in the construction and industrial sectors requiring dependable power sources, a surge in outdoor activities and portable power needs, 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 projected growth for the forecast period can be attributed to increased investment in power generation capacity, expanding industrial and construction activities, a growing 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 expected during this period include the adoption of hybrid air-cooled generators that combine renewable energy sources, the integration of smart technology and IoT for enhanced generator monitoring, the development of portable and compact air-cooled generator designs, market expansion in developing regions with rising power needs, improvements in fuel efficiency and emission reduction technologies, and the introduction of eco-friendly and low-noise generator models.
The growing demand for electricity is anticipated to drive the expansion of the air-cooled generator market. This surge in demand is fueled by the increasing adoption of electric vehicles, digital devices, and smart home technologies, as well as rising industrial activities and population growth. Air-cooled generators play a key role in managing electricity demand by providing dependable backup power, supporting remote areas, reducing peak loads, and offering temporary power for construction sites and events. For example, the International Energy Agency (IEA) reported in July 2021 that global electricity demand was expected to increase by nearly 5% in 2021 and by 4% in 2022. Consequently, the rising need for electricity is boosting the growth of the air-cooled generator market.
Companies in the air-cooled generator market are focusing on innovative cooling technologies to enhance performance. One such advancement is the two-stage air cooler, which improves cooling efficiency and prevents overheating in high-demand situations. For instance, in August 2023, Mitsubishi Heavy Industries Engine & Turbocharger Ltd., based in Japan, introduced the MGS3100R generator. This 3,000 kVA generator set is designed for commercial and mission-critical uses and features a newly developed S16R2-PTAWT-CR engine with a two-stage air cooler. The design optimizes performance and installation while meeting high emergency power supply standards, aiming to boost disaster resilience and business continuity.
In August 2022, Baker Hughes Company, a US-based energy firm, acquired the Power Generation division of BRUSH Group. This acquisition is intended to enhance Baker Hughes's portfolio in electromechanical equipment, including generators, synchronous condensers, and electric motors. The goal is to provide cleaner energy solutions and support decarbonization efforts in the natural gas industry and other hard-to-abate sectors. BRUSH Group is a UK-based manufacturer specializing in power generation equipment, including air-cooled generators.
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
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.
The countries covered in the air cooled generators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The air cooled generator market consists of sales of 2-pole air-cooled generators, 4-pole air-cooled generators, and generator accessories. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Air Cooled Generators Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on air cooled generators market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for air cooled generators ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The air cooled generators market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.