Multi Fuel Generators Market

Multi Fuel Generators Market Outlook - 2030

The global multi fuel generators market size was valued at $1,038.7 million in 2020, and is projected to reach $1,880.6 million by 2030, growing at a CAGR of 6.2% from 2021 to 2030. Increasing demand for uninterrupted and reliable power supply and increasing instances of power outages owing to aging grid infrastructure and extreme weather conditions are some of the global multi-fuel generators market trends observed in the industry. Furthermore, throughout the projection period, demand for continuous power in residential, commercial, and industrial segments, as well as rise in fuel costs and environmental concerns about dangerous emissions are expected to drive the market expansion. Limited power generation capacity, as well as high equipment cost, are some of the restraints for the market growth. Increasing adoption of tri-fuel generators can be stated as an multi fuel generators market opportunity.

Disruptions in supply chain caused due to the lockdown measures, has severely affected the manufacturing industry and commercial establishments, thereby momentarily decreasing the demand for multi fuel generators in 2020.

The global multi fuel generators market is segmented on the basis of fuel type, power rating, application, end-use industry, and region. On the basis of fuel type, the global market report covers dual-fuel and tri-fuel. On the basis of power rating, the global market is segmented into below 350KVA, 351KVA to 1000KVA, and above 1000KVA. Applications covered in the report are standby gensets, continuous gensets, and peak shaving gensets. Based on end use industry, the global market is segmented into residential, commercial and industrial. The report further outlines the details about the revenue generated through the sale of multi fuel generators across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by North America and Europe.

Major players operating in the global multi fuel generators industry include Generac Holdings Inc., Kohler Co., Honda Power Products, Briggs & Stratton, Yamaha Motor Corporation, Cummins Inc., DuroMax, Pulsar Products, and Champion Power Equipments.

Multi fuel generators Market, by Fuel Type

The dual-fuel generator segment is expected to grow at a CAGR of 5.1% during the forecast period. It is mainly popular in the trucking and bus industry, which combines diesel and natural gas for a dependable, economical solution. On the other hand, the tri-fuel segment is expected to showcase the highest CAGR during the forecast period.

Multi fuel generators Market, by Power rating

The 351kVA to 1000kVA segment accounted for the largest share of followed by below 350kVA segment. The below 350kVA segment is the fastest growing segment, expected to grow at around 6.9% CAGR during the forecast period.

Multi fuel generators Market, by Application

The Continuous Gensets segment accounted for the largest share of the multi fuel generators market in 2020, followed by Peak Shaving Gensets segment.

Multi fuel generators Market, by End-use Industry

The Industrial segment accounted for the largest share of the multi fuel generators market in 2020, followed by commercial segment.

Multi fuel generators Market, by Region

Asia-Pacific region accounted for the largest multi fuel generators market share in 2020, and is projected to contribute 7.3% share in the global multi-fuel generator market during the forecast period.

Key Benefits For Stakeholders

• The report provides in-depth analysis of the global market along with the current trends and future estimations. 
• This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
• Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global multi fuel generators market for strategy building.
• A comprehensive multi fuel generators market analysis covers the factors that drive and restrain the global market growth.
• The qualitative data about market dynamics, trends, and developments is provided in the report.

Impact Of Covid-19 On The Global Multi Fuel Generators Market

• COVID-19 has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020. 
• Some of the major economies suffering from the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway. 
• In many countries, the economy has dropped due to halt of several industries, especially transport and supply chain. Demand for the product has been hindered as there is no development due to the lockdown. 
• The demand-supply gap, disruptions in raw material procurement, and price volatility are expected to hamper growth of the industry during the COVID-19 pandemic.
• Due to a scarcity of resources in various parts of the world, the COVID-19 pandemic has impacted negatively on the commercial and industrial sector. The industry's top players are concerned about market's prospects and are rethinking their strategies to meet the challenge.

Key Market Segments

By Fuel Type

• Dual fuel
• Tri fuel 

By power rating

• Below 350 KVA
• 351 KVA to 1000 KVA
• Above 1000 KVA

By Application

• Standby gensets
• Continuous gensets
• Peak shaving gensets

By end use industries

• Residential 
• Commercial 
• Industrial 

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• LAMEA
  • Brazil
  • South Africa
  • Middle East
  • Rest of LAMEA

 Multi Fuel Generators Market Report Highlights