According to the new market research report “Silent Generator Market by Sound Level (Super Silent, Silent), Fuel (Diesel, Natural Gas), Power Rating (Up to 25 kVA, 25-49 kVA, 50-99 MW, 100-499 kVA, & Above 500 kVA), Phase, Type, Application, End-User Industry and Region – Global Forecast to 2027″, published by MarketsandMarkets™, the Silent Generator Market size will grow to USD 4.1 billion by 2027 from USD 3.0 billion in 2022, at a CAGR of 6.5% during the forecast period. Silent generators are machines that convert mechanical energy into electricity. They can be used for residential, commercial, as well as industrial purposes. They are widely preferred because of their reliable performance, ease of operation, and soundproof enclosure. The increasing demand for uninterrupted and reliable power supply from several end users in the healthcare, telecom, and mining sectors and educational institutions, commercial complexes, and residential spaces is expected to fuel the demand for silent generators during the forecast period.
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The diesel is expected to be the fastest growing segment of the silent generator market
Based on the fuel of silent generator systems, the diesel component is estimated to be the fastest-growing market from 2020 to 2027. The Silent Generators Market by fuel type is classified into diesel, natural gas and others. Diesel generators are used for emergency purpose and come with single and three phase. Companies like Atlas Copco, Cummins, Generac and Mahindra Powerol are top producer of silent diesel generators. The natural gas generators are environment friendly. Companies such as Generac, Honda are key players for silent natural gas generators. The other generator fuel types include petrol, LPG, biodiesel, coal gas, producer gas, and propane gas-based generators.
The standby and peak segment is expected to dominate the silent generator market
The standby and peak segment, by application, is projected to hold the highest market share during the forecast period. The standby generators are very useful in power outages and blackouts and are driving the market growth globally. Increased industrialization has boosted growth opportunities for silent generators driven by reliability on backup power solutions.
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North America is expected to lead the Silent Generator Market
North America accounted for a 36.8% share of the Silent Generator Market in 2022. The countries covered in the region are US, Canada, Mexico and the Rest of North America. North America is projected to hold the largest size of the Silent Generator Market during the forecast period due to the growth of the industrial sector. The demand for energy in the mining and oil & gas industries is likely to propel market growth. Increased shale gas developments in the region are also fueling the growth of diesel fuel-type silent generators.
The key players include Atlas Copco (Sweden), Cummins Inc. (US), Generac (US), Rolls-Royce Holdings(UK), Honda (Japan).