Electric Generating Set And Rotary Converter Market

The article provides detailed insights into the electric generating sets and rotary converters market, predicting an upward trend in consumption over the next eight years. It discusses the forecasted performance of the market, including expected growth rates in both volume and value terms. Analysis includes data on consumption, production, and imports/exports, highlighting key trends, major players, and notable growth rates in different countries and product categories. The article also examines average prices, per capita consumption, and specific trends in different product types within the market.

Market Forecast

Driven by rising demand for electric generating set and rotary converter 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 +29.2% for the period from 2022 to 2030, which is projected to bring the market volume to 18M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.7% for the period from 2022 to 2030, which is projected to bring the market value to $30.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Electric Generating Sets And Rotary Converters

In 2022, consumption of electric generating sets and rotary converters decreased by -53.2% to 2.3M units, falling for the second year in a row after two years of growth. Overall, consumption faced a abrupt downturn. Global consumption peaked at 22M units in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

The value of the market for electric generating sets and rotary converters worldwide fell slightly to $27B in 2022, approximately reflecting 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). In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the global market hit record highs at $31.3B 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 2021 were South Africa (513K units), the United States (509K units) and the Netherlands (385K units), together accounting for 29% of global consumption. India, China, Japan, Brazil, Russia, Poland, Nigeria, Mexico, Italy and South Korea lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of converters, amongst the main consuming countries, was attained by Nigeria (with a CAGR of +18.1%), while converters for the other global leaders experienced more modest paces of growth.

In value terms, Brazil ($6.8B) led the market, alone. The second position in the ranking was taken by India ($2.9B). It was followed by the United States.

From 2012 to 2021, the average annual growth rate of value in Brazil stood at +6.0%. The remaining consuming countries recorded the following average annual rates of market growth: India (+4.9% per year) and the United States (+7.0% per year).

In 2021, the highest levels of per capita consumption of electric generating sets and rotary converters was registered in the Netherlands (22 units per 1000 persons), followed by South Africa (8.6 units per 1000 persons), Poland (4.5 units per 1000 persons) and South Korea (1.8 units per 1000 persons), while the world average per capita consumption of electric generating set and rotary converter was estimated at 0.6 units per 1000 persons.

In the Netherlands, per capita consumption of electric generating sets and rotary converters increased at an average annual rate of +2.3% over the period from 2012-2021. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: South Africa (-15.0% per year) and Poland (+16.9% per year).

Production

World Production of Electric Generating Sets And Rotary Converters

In 2021, production of electric generating sets and rotary converters decreased by -5.8% to 4.1M units for the first time since 2017, thus ending a three-year rising trend. Over the period under review, production saw a noticeable decrease. The pace of growth was the most pronounced in 2019 with an increase of 15% against the previous year. Global production peaked at 5M units in 2012; however, from 2013 to 2021, production remained at a lower figure.

In value terms, production of electric generating sets and rotary converters shrank to $31.3B in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 22% against the previous year. Over the period under review, global production of reached the peak level at $34.2B in 2013; however, from 2014 to 2021, production remained at a lower figure.

Production By Country

China (1.3M units) constituted the country with the largest volume of production of electric generating sets and rotary converters, comprising approx. 33% of total volume. Moreover, production of electric generating sets and rotary converters in China exceeded the figures recorded by the second-largest producer, Germany (563K units), twofold. The third position in this ranking was taken by India (352K units), with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume in China totaled +1.1%. The remaining producing countries recorded the following average annual rates of production growth: Germany (-3.1% per year) and India (+0.5% per year).

Imports

World Imports of Electric Generating Sets And Rotary Converters

In 2021, after two years of growth, there was significant decline in supplies from abroad of electric generating sets and rotary converters, when their volume decreased by -81.3% to 3.7M units. Overall, imports saw a perceptible contraction. The pace of growth appeared the most rapid in 2019 with an increase of 379% against the previous year. Global imports peaked at 20M units in 2020, and then contracted sharply in the following year.

In value terms, imports of electric generating sets and rotary converters reduced to $9.8B in 2021. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 15% against the previous year. Over the period under review, global imports of hit record highs at $10.6B in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports By Country

The purchases of the four major importers of electric generating sets and rotary converters, namely South Africa, the United States, the Netherlands and Spain, represented more than third of total import. Poland (164K units), Nigeria (123K units), Brazil (79K units), the UK (71K units), Indonesia (71K units), the United Arab Emirates (70K units) and Turkey (61K units) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Poland (with a CAGR of +27.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the UK ($2.1B) constitutes the largest market for imported electric generating sets and rotary converters worldwide, comprising 21% of global imports. The second position in the ranking was held by Turkey ($546M), with a 5.6% share of global imports. It was followed by the United States, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value in the UK stood at +7.9%. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+5.1% per year) and the United States (-12.2% per year).

Imports By Type

Electric generating sets, excluding those with spark-ignition or compression-ignition internal combustion piston engines, other than wind powered (22M units) and electric generating sets with spark-ignition internal combustion piston engine (20M units) dominates converters structure, together achieving 86% of total imports. Diesel or semi-diesel electric generating sets of output under 75 kVA (2.9M units) held a 5.9% share (based on physical terms) of total imports, which put it in second place, followed by wind powered generating sets (4.9%). Electric rotary converters (1.3M units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for electric generating sets, excluding those with spark-ignition or compression-ignition internal combustion piston engines, other than wind powered (with a CAGR of +39.6%), while purchases for the other products experienced more modest paces of growth.

In value terms, the largest types of imported electric generating sets and rotary converters were wind powered generating sets ($5.6B), electric generating sets with spark-ignition internal combustion piston engine ($5.3B) and electric generating sets with compression-ignition internal combustion piston engine (diesel or semi-diesel engine) of an output over 375 kVA ($4.7B), together comprising 66% of global imports.

Electric generating sets with spark-ignition internal combustion piston engine, with a CAGR of +3.6%, saw the highest rates of growth with regard to the value of imports, among the main imported products over the period under review, while purchases for the other products experienced mixed trends in the imports figures.

Import Prices By Type

In 2022, the average import price for electric generating sets and rotary converters amounted to less than $0.1 per unit, reducing by 99.9% against the previous year. Over the period under review, the import price, however, enjoyed notable growth. The pace of growth was the most pronounced in 2021 when the average import price increased by 431%. As a result, import price reached the peak level of $2,620 per unit, and then reduced markedly in the following year.

Prices varied noticeably by the product type; the product with the highest price was electric generating sets with compression-ignition internal combustion piston engine (diesel or semi-diesel engine) of an output over 375 kVA ($13,759 per unit), while the price for electric rotary converters ($125 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by wind powered generator (+3.7%), while the other products experienced a decline in the import price figures.

Import Prices By Country

The average import price for electric generating sets and rotary converters stood at $2,620 per unit in 2021, rising by 431% against the previous year. Overall, the import price continues to indicate perceptible growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the UK ($28,903 per unit), while South Africa ($37 per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+36.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Electric Generating Sets And Rotary Converters

In 2021, overseas shipments of electric generating sets and rotary converters increased by 41% to 3.4M units, rising for the fourth year in a row after five years of decline. In general, exports continue to indicate a slight expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of electric generating sets and rotary converters dropped to $9.8B in 2021. Overall, exports, however, recorded a noticeable decrease. The growth pace was the most rapid in 2019 when exports increased by 23%. The global exports peaked at $12.9B in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports By Country

In 2021, China (1,102K units) and Spain (873K units) represented the largest exporters of electric generating sets and rotary convertersin the world, together resulting at approx. 58% of total exports. It was distantly followed by Germany (529K units), creating a 15% share of total exports. The Netherlands (88K units), Italy (79K units), Portugal (70K units), the UK (63K units) and Vietnam (57K units) held a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Vietnam (with a CAGR of +41.7%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest electric generating set and rotary converter supplying countries worldwide were Germany ($2.7B), China ($2B) and Spain ($806M), together accounting for 57% of global exports. Italy, the UK, the Netherlands, Portugal and Vietnam lagged somewhat behind, together accounting for a further 6.2%.

Vietnam, with a CAGR of +21.7%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Electric generating sets, excluding those with spark-ignition or compression-ignition internal combustion piston engines, other than wind powered dominates converters structure, accounting for 208M units, which was approx. 93% of total exports in 2022. It was distantly followed by electric generating sets with spark-ignition internal combustion piston engine (13M units), creating a 5.7% share of total exports.

Electric generating sets, excluding those with spark-ignition or compression-ignition internal combustion piston engines, other than wind powered was also the fastest-growing in terms of exports, with a CAGR of +70.6% from 2012 to 2022. At the same time, electric generating sets with spark-ignition internal combustion piston engine (+1.8%) displayed positive paces of growth. From 2012 to 2022, the share of electric generating sets, excluding those with spark-ignition or compression-ignition internal combustion piston engines, other than wind powered increased by +86 percentage points.

In value terms, wind powered generating sets ($5.2B), electric generating sets with compression-ignition internal combustion piston engine (diesel or semi-diesel engine) of an output over 375 kVA ($5B) and electric generating sets with spark-ignition internal combustion piston engine ($4.6B) were the products with the highest levels of exports in 2022, together accounting for 71% of global exports. Diesel or semi-diesel electric generating sets of output under 75 kVA, diesel or semi-diesel electric generating sets of output over 75 kVA but under 375 kVA, electric generating sets, excluding those with spark-ignition or compression-ignition internal combustion piston engines, other than wind powered and electric rotary converters lagged somewhat behind, together accounting for a further 29%.

Diesel or semi-diesel electric generating sets of output under 75 kVA, with a CAGR of +1.4%, recorded the highest growth rate of the value of exports, among the main exported products over the period under review, while shipments for the other products experienced mixed trends in the exports figures.

Export Prices By Type

The average export price for electric generating sets and rotary converters stood at less than $0.1 per unit in 2022, dropping by 99.9% against the previous year. Overall, the export price showed a pronounced reduction. The growth pace was the most rapid in 2016 an increase of 24%. As a result, the export price reached the peak level of $6,168 per unit. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was wind powered generating sets ($32,621 per unit), while the average price for exports of electric generating sets, excluding those with spark-ignition or compression-ignition internal combustion piston engines, other than wind powered ($7.4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by wind powered generator (+13.0%), while the other products experienced a decline in the export price figures.

Export Prices By Country

The average export price for electric generating sets and rotary converters stood at $2,852 per unit in 2021, waning by -37% against the previous year. In general, the export price continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by 24% against the previous year. As a result, the export price attained the peak level of $6,168 per unit. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($5,081 per unit), while Portugal ($868 per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.4%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform