Military Generator Market to Generate $1.98 billion by 2031: Allied Market Research
Technological advancement in generators, the development of small tactical power generators, and an increase in military expenditure drive the global military generator market. Based on region, North America held the largest share in 2021, contributing to more than 40% of the global military generator market share.
Portland, OR, Feb. 01, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global military generator market garnered $1.27 billion in 2021 and is estimated to generate $1.98 billion by 2031, manifesting a CAGR of 4.7% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chains, competitive scenarios, and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
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Report coverage & details:
Market Size in 2021
Market Size in 2031
No. of Pages in Report
type, installation type, application, fuel type, capacity, and region
Technological advancement in generators
Increasing use of hybrid generators
Stringent emission regulations for diesel generator
Lockdowns implemented by several countries in reaction to the COVID-19 outbreak' quick spread have had an impact on business operations in defense equipment, electronics, and other sectors.
Moreover, governments all across the world focused on the healthcare sector to combat the COVID-19 virus, which hurt the performance of the defense industry. Additionally, escalating trade restrictions, financial crises, and a lack of raw materials were some of the major issues harming businesses that manufacture military equipment and systems including military generators.
The significant decline in the GDP of major economies, including the US, UK, France, India, Germany, and others, in 2020 led to a reduction in investment in the procurement of military equipment. The demand for field energy has decreased as a result, which has hindered the expansion of the military generator market.
However, the military generator market has a high scope of growth opportunities in the future due to factors such as the high demand for field generators, and the greater adoption of portable generator systems.
The research provides detailed segmentation of the global military generator market based on type, installation type, application, fuel type, capacity, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on type, the AC generator segment held the highest share in 2021, accounting for more than 70% of the global military generator market, and is expected to continue its leadership status during the forecast period. However, the DC generator segment is expected to register the highest CAGR of 5.4% from 2022 to 2031.
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Based on installation type, the stationary generator segment accounted for the highest share in 2021, contributing to more than 50% of the global military generator market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the portable generator segment is expected to manifest the highest CAGR of 5.6% from 2022 to 2031.
Based on application, the field hospital segment accounted for the highest share in 2021, holding more than one-fourth share in the global military generator market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the field camps and accommodation segment is expected to manifest the highest CAGR of 5.4% from 2022 to 2031.
Based on fuel type, the diesel segment accounted for the highest share in 2021, holding around two-thirds share in the global military generator market, and is expected to continue its leadership status during the forecast period. However, the hybrid segment is estimated to grow at the highest CAGR of 6.9% during the forecast period.
Based on capacity, the up to 60 KW segment accounted for the highest share in 2021, holding more than one-third share in the global military generator market, and is expected to continue its leadership status during the forecast period. However, the same segment is estimated to grow at the highest CAGR of 5.2% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to more than 40% of the global military generator market share 2021, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 5.7% during the forecast period.
Leading market players of the global military generator market analyzed in the research include Caterpillar CMCA Group of Companies, Cummins Inc., Fischer Panda, HDT Global, KOHLER SDMO, Leonardo DRS, SFC Energy AG, The Dewey Electronics Corporation, and Rolls-Royce plc.
The report provides a detailed analysis of these key players in the global military generator market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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