NEW YORK, March 10, 2023 /PRNewswire/ — Major players in the silent generator market are Atlas Copco, Constant Power solutions Ltd., Cummins Inc., Fujian Epos Electric Machinery, Generac, Greaves Cotton Limited, Himoinsa, Honda, Huu Toan Corporation, Jiangxi Vigorous New Energy Technology Co. Ltd., Kingway Group, Jakson Group, Yamaha, and Yanmar.
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The global silent generator market grew from $2.78 billion in 2022 to $3.16 billion in 2023 at a compound annual growth rate (CAGR) of 13.7%. The Russia–Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The silent generator market is expected to grow to $5.31 billion in 2027 at a CAGR of 13.8%.
The silent generator market consists of sales of single phase, AC three-phase, semi-automatic, and automatic silent generator.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 silent generators refer to the generator which is used to back up the power during power outages and also used where there is electricity is needed. Silent Generator refers to that where the sound of the generator is minimal as compared with the diesel generator and also, they are very most commonly used hard material to reflect the sound and also the energy inside the generator.
North America was the largest region in the silent generator market in 2022. The regions covered in the silent generators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of silent generators are portable and stationary.Portable generators create energy by using a gas-powered engine that generates electricity through an onboard alternator.
Extension cables, electric-powered equipment, and appliances may all be plugged into the unit’s power outlets.The power rating of silent generators is up to 25 KVA, 25 KVA – 49 KVA, 50 – 99 KVA, 100- 499 KVA, above 500 KVA that can work with fuels such as gas, diesel, others with applications in standby and peak, prime mover.
The end-users of the silent generator are residential, commercial, and industrial.
The growing demand for continuous and reliable power supply during blackouts from the residential sector is driving the increase of silent generators bought or rented by an individual or by a company.Many of them are using generators mainly due to no reliable power supply and to overcome the blackouts or power outages in the residential sector.
For instance, according to The International Energy Agency (IEA), a Paris-based autonomous intergovernmental organization, a semi-annual electricity market report forecasted an average annual growth of 2.7 percent in electricity demand from 2022 to 2024, though the COVID-19 pandemic and high energy prices cast doubt on this forecast. This increasing electricity demand will invariably increase the usage of silent generators to provide a continuous and reliable power supply. The growing demand for continuous and reliable power supply during blackouts from the residential sector is expected to propel the growth of the silent generator market in the coming years.
Technological advancement are shaping the silent generator market.Major companies in the generator industry market are advancing in their new technologies and research and developments in the silent generators market.
For instance, in 2021 Isuzu Power Solutions (IPS), a Japan-based generators company launched 3 models of silent generators with different power outcomes such as 20 KVA, 37 KVA, and 50 KVA. All the three models come with 3-phase power and they offer ultra-quiet sound technology, with the reduction of both incoming and outgoing air which was rated at 51 decibels and the smallest generator with 20 KVA is quieter than the standards.
In September 2021, SimpliPhi Power, a US-based renewable energy and energy storage business that also provides energy equipment and solutions acquired Briggs and Stratton for an undisclosed amount.As a result of the acquisition, Simpliphi Power will expand its business operations and company portfolio into different types of business and strengthens its profits.
Briggs and Stratton are a global manufacturer of gasoline engines and gasoline-powered generators headquartered in Wisconsin, USA.
The countries covered in the silent generator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The silent generator market research report is one of a series of new reports that provides silent generator market statistics, including silent generator industry global market size, regional shares, competitors with a silent generator market share, detailed silent generator market segments, market trends and opportunities, and any further data you may need to thrive in the silent generator industry. This silent 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.
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