Engine Generator Market

The article provides a comprehensive analysis of the global engine generator market from 2022 to 2030, forecasting trends in consumption, production, imports, and exports. The market is expected to see slight growth in consumption with a projected increase in both volume and value. Key insights include consumption trends by country, production volumes, import and export statistics, as well as average prices per unit. The data highlights significant growth rates, market leaders, and notable trends in engine generator market dynamics over the specified period.

Market Forecast

Driven by rising demand for engine generator worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.3% for the period from 2022 to 2030, which is projected to bring the market volume to 166M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.5% for the period from 2022 to 2030, which is projected to bring the market value to $13.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Generators For Internal Combustion Engines

In 2022, consumption of generators for internal combustion engines decreased by -2.1% to 161M units for the first time since 2019, thus ending a two-year rising trend. Overall, consumption showed a noticeable downturn. The most prominent rate of growth was recorded in 2020 with an increase of 5.6% against the previous year. Global consumption peaked at 254M units in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

The global engine generator market value contracted to $10.8B in 2022, almost unchanged from the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a pronounced reduction. The growth pace was the most rapid in 2020 with an increase of 8.8%. Global consumption peaked at $17B in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (33M units), the United States (30M units) and Japan (18M units), together accounting for 50% of global consumption. India, Mexico, France, Brazil, Germany, the UK, South Korea, Turkey and Italy lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +1.6%), while consumption for the other global leaders experienced mixed trends in the consumption figures.

In value terms, the largest engine generator markets worldwide were the United States ($2.1B), China ($1.5B) and Japan ($1.3B), together accounting for 45% of the global market. India, Germany, Mexico, Brazil, Italy, Turkey, South Korea, the UK and France lagged somewhat behind, together accounting for a further 22%.

Among the main consuming countries, Mexico, with a CAGR of +3.5%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of engine generator per capita consumption in 2022 were Japan (142 units per 1000 persons), the United States (89 units per 1000 persons) and France (70 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +1.8%), while consumption for the other global leaders experienced mixed trends in the per capita consumption figures.

Production

World Production of Generators For Internal Combustion Engines

In 2022, the amount of generators for internal combustion engines produced worldwide dropped modestly to 164M units, remaining relatively unchanged against the previous year. Over the period under review, production continues to indicate a noticeable slump. The pace of growth appeared the most rapid in 2016 when the production volume increased by 8.6% against the previous year. Global production peaked at 258M units in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In value terms, engine generator production reached $9.7B in 2022 estimated in export price. In general, production showed a pronounced curtailment. The pace of growth appeared the most rapid in 2014 when the production volume increased by 8.3% against the previous year. As a result, production reached the peak level of $15.7B. From 2015 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (42M units), Japan (22M units) and the United States (22M units), with a combined 52% share of global production. India, Mexico, France, South Korea, Brazil, the UK, Turkey and Italy lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Mexico (with a CAGR of +6.4%), while production for the other global leaders experienced a decline in the production figures.

Imports

World Imports of Generators For Internal Combustion Engines

In 2022, overseas purchases of generators for internal combustion engines increased by 2.2% to 70M units, rising for the second consecutive year after three years of decline. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 19% against the previous year. Global imports peaked at 77M units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, engine generator imports rose to $5.6B in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 13% against the previous year. Over the period under review, global imports attained the maximum at $5.7B in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, the United States (18M units), distantly followed by Mexico (12M units) and Germany (6.5M units) represented the largest importers of generators for internal combustion engines, together constituting 53% of total imports. France (2.2M units), Poland (1.7M units), Canada (1.6M units), Italy (1.6M units), Spain (1.6M units), Thailand (1.5M units), the UK (1.4M units), China (1.4M units), Malaysia (1.2M units) and Slovakia (1.1M units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +19.2%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest engine generator importing markets worldwide were the United States ($1.3B), Germany ($737M) and Mexico ($464M), together accounting for 45% of global imports. China, France, Canada, the UK, Italy, Spain, Poland, Slovakia, Thailand and Malaysia lagged somewhat behind, together accounting for a further 26%.

Among the main importing countries, Poland, with a CAGR of +15.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average engine generator import price amounted to $80 per unit, stabilizing at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2014 an increase of 28% against the previous year. As a result, import price reached the peak level of $90 per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($191 per unit), while Mexico ($39 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Generators For Internal Combustion Engines

In 2022, overseas shipments of generators for internal combustion engines increased by 4.1% to 72M units, rising for the second year in a row after four years of decline. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 16% against the previous year. As a result, the exports attained the peak of 90M units. From 2017 to 2022, the growth of the global exports failed to regain momentum.

In value terms, engine generator exports rose modestly to $5.5B in 2022. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 17% against the previous year. Over the period under review, the global exports reached the peak figure at $5.6B in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports By Country

The biggest shipments were from Mexico (15M units), the United States (10M units), China (10M units), France (7.6M units) and Japan (5.4M units), together resulting at 66% of total export. The following exporters - Germany (3.1M units), Hungary (2M units), Spain (1.9M units), Italy (1.8M units), Poland (1.6M units), Thailand (1.5M units), South Korea (1.5M units) and the UK (1.1M units) - together made up 20% of total exports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +16.4%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Mexico ($870M), France ($799M) and the United States ($572M) appeared to be the countries with the highest levels of exports in 2022, together comprising 41% of global exports. China, Germany, Japan, Spain, Italy, Hungary, Poland, Thailand, South Korea and the UK lagged somewhat behind, together accounting for a further 45%.

Hungary, with a CAGR of +17.2%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average engine generator export price amounted to $76 per unit, waning by -2.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2020 an increase of 14%. The global export price peaked at $78 per unit in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($179 per unit), while China ($55 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform