South Africa Generator Market to Grow at a CAGR of 5.94% During the Forecast Period 2024-2028
Increase in need for continuous
& stable power supply and increase in investment on electrification of
remote & rural area demand are likely to propel the demand in the South
Africa generator market.
According
to the TechSci Research report, “South Africa Generator Market - By Region,
Competition Forecast & Opportunities, 2018-2028F,” South Africa
Generator Market was valued at USD 185.87 million in 2022 and is anticipated to
project robust growth in the forecast period, with a CAGR of 5.94% through 2028
because the country's growing need for energy greatly outweighs the available
supply. Power demand is being kept up with factors including ongoing population
increase, infrastructural improvement, and quick industrialization in South
Africa's developing areas. There are several benefits to using a generator,
including lower running costs and higher fuel economy. As a result, they are
considerably more well-liked in certain areas, particularly in Gauteng,
KwaZulu-Natal, and the Western Cape. Along with its benefits, it also had a
number of disadvantages, including noise pollution and dangerous gas emissions.
Moreover,
the growth of the industrial and commercial sectors in South Africa has fuelled
the need for continuous power supply. Industries such as mining, manufacturing,
telecommunications, and construction require reliable backup power, making
generators a vital component for sustaining operations.
Additionally,
South Africa is prone to natural disasters such as storms, floods, and
wildfires. These events can disrupt the power grid and leave communities
without electricity for extended periods. In such situations, generators become
essential for emergency power supply and disaster management, ultimately
driving the demand for these devices.
Lastly,
the efforts towards rural electrification in South Africa have been supported
by generators which can provide localized power supply to remote areas where
establishing a reliable power grid is challenging.
The
South Africa generator market has been driven by power infrastructure
challenges, industrial and commercial growth, the construction sector's
expansion, increasing frequency of natural disasters, and rural electrification
efforts.
Browse
over 34 market data Figures spread through 108 Pages and an in-depth TOC on the
"South Africa Generator Market."
South
Africa Generator market is divided into product type, installation, output,
fuel, application, cooling type, end user and region. Based on product type,
the market is segmented into AC generator and DC generator. Based on
installation, the market is segmented into stationary and portable. Based on
output, the market is segmented into Above 1000 kW, 501-1000 kW, 61-250 kW,
Upto 60 kW, and 251-500 kW. Based on fuel, the market is segmented into diesel,
gas, and others. Based on application, the market is segmented into standby,
continuous, and peak shaving. Based on cooling type, the market is segmented
into air cooled, water cooled, and hydrogen cooled. Based on end user, the
market is segmented into commercial, industrial, and residential. The market
analysis also studies the regional segmentation to devise regional market
segmentation, divided among Gauteng, KwaZulu-Natal, Western Cape, Eastern Cape,
Mpumalanga, Limpopo, North-West, Free State, and Northern Cape.
Based on
region, Gauteng dominates in the South Africa generator market with a market
share of 32.90% in 2022 because Gauteng is the economic hub of South Africa and
is home to the cities of Johannesburg and Pretoria, which are major centers of
business and industry.
Based on
fuel, diesel dominates in the South Africa generator market with a market share
of 68.38% in 2022. Since South Africa government is introducing stringent
norms, the adoption of clean units has increased manifold. However, diesel
generators’ flexible functioning, reliable performance, and longer engine
lifespan are expected to maintain the product’s high demand in the future. By
2028, diesel is expected to have a market value of USD 174.13 million.
Based on
end user, industrial segment is the fastest growing in the South Africa
generator market accounted for USD 62.17 million in 2022 because the industrial
sector is the fourth-largest sector in South Africa, contributing significantly
to the GDP growth. It is also a major source of direct employment. Other
factors include an increase in the number of industries and the use of
generators in industrial applications. Additionally, the industries have also
been able to increase the adoption rate of generators.
Key
market players in the South Africa Generator Market include:
- Cummins South Africa (Pty) Ltd
- Aksa Power Generation SA (Pty) Ltd
- Caterpillar (Africa) (Proprietary)
Limited
- Mitsubishi Power Africa (Pty) Ltd
- Jubaili Bros SA (Pty) Ltd
- Algen Power Generation (Pty) Ltd.
- GenSol Generator Solutions
- Honda Motor Southern Africa (Proprietary)
Limited
- Generator Logic Holdings (Pty) Ltd
- Kirloskar Trading SA (Pty) Ltd.
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“South
Africa Generator Market stood at USD 185.87 million in 2022 and is expected to
register a CAGR of 5.94% during 2023E-2028F. Therefore, the market for generators
across the country is expected to rise in the forecast period 2024-2028. Urbanization
and rising incomes have increased the demand for residential and commercial
properties, boosting the nation's construction industry. The extensive use of
generators as a backup or major source of electricity is a result of the
inadequate supply of power. Additionally, extensive government-backed initiatives
for the economy's growth of smart cities and infrastructure upgrades are
anticipated to increase market revenue during the projection period.” said Mr
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“South Africa Generator Market By
Product Type (AC Generator, DC Generator), By Installation (Stationary,
Portable), By Output (Above 1000 kW, 501-1000 kW, 61-250 kW, Upto 60 kW,
251-500 kW), By Fuel (Diesel, Gas, Others), By Application (Standby, Continuous,
Peak Shaving), By Cooling Type (Air Cooled, Water Cooled, Hydrogen Cooled), By
End User (Commercial, Industrial, Residential), By Region, Competition Forecast
& Opportunities, 2028F”, has evaluated the future growth potential of an South Africa
Generator market and provides statistics and information on market structure,
size, share, and future growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the South Africa generator
market.
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