$4.3bn
$XXX.Xm
8,985
109
$XXX.Xm
Prime mover generator set manufacturers make various products that combine an electrical generator with an engine or prime mover. As economic growth boosted corporate profit in the years immediately preceding the pandemic, businesses had more money to spend on new projects, so nonresidential construction soared. Higher nonresidential construction meant businesses needed generators for their new buildings, raising demand for prime mover generator sets and increasing revenue for the industry. The pandemic has influenced volatile residential and nonresidential construction activity, limiting industry expansion. As a result, revenue for prime mover generator set manufacturers is expected to remain stable at $4.3 billion in 2024. Revenue is anticipated to decline 1.3% this year alone.
Industry revenue has declined at a CAGR of 0.0 % over the past five years, to reach an estimated $4.3bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Generac Power Systems, Inc. | 2,763.2 | 636.3 | 23.0 | |
Caterpillar Inc. | 610.4 | 50.9 | 8.3 | |
Cummins Inc. | 172.9 | 22.1 | 12.8 |
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Industry revenue is measured across several distinct product and services lines, including Fractional horsepower motors, Integral horsepower motors and generators and Prime mover generator sets (except steam and hydraulic turbines). Fractional horsepower motors is the largest segment of the Prime Mover Generator Sets Manufacturing in the US.
Prime mover generator sets are essential for the industry
This industry manufactures prime mover generator sets, integral horsepower motors and fractional horsepower motors. These products combine an electrical generator with an engine, or prime mover to produce electrical power. These products are used to supply electrical power in places where utility power is not available. This industry does not include steam and hydraulic turbine sets.
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NAICS 33531 - Prime Mover Generator Sets Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Revenue growth was tempered due to volatile construction activity. The pandemic has influenced construction and renovation volatility. Manufacturers still benefited from the ...
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The residential market has tumbled because of high interest rates. This led to volatile demand for prime mover generator sets. When demand for household appliances increases,...
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The Great Lakes region is home to the nation's largest manufacturers. These manufacturers purchase generators in high numbers, so the industry has a notable presence in this ...
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There's intense internal competition among prime mover generator sets manufacturers. Companies compete on price, services and reputation.
Learn about the performance of the top companies in the industry.
High barriers to entry prevent some individuals from setting up shop, enabling large players to control most of the industry. The biggest company, Generac Power Systems, comp...
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Prime mover generator sets manufacturers are subject to a slew of different regulations. These include laws regulating pollution, energy efficiency and workplace safety.
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Profit rises and falls based on economic conditions. It plunged during the pandemic as industrial production tanked, but soared amid the recovery as consumer spending soared.
Including values and annual change:
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The market size of the Prime Mover Generator Sets Manufacturing in the US industry in United States is $4.3bn in 2024.
There are 109 businesses in the Prime Mover Generator Sets Manufacturing in the US industry in United States, which has declined at a CAGR of 0.2 % between 2019 and 2024.
The market size of the Prime Mover Generator Sets Manufacturing in the US industry in United States has been declining at a CAGR of 0.0 % between 2019 and 2024.
Over the next five years, the Prime Mover Generator Sets Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Prime Mover Generator Sets Manufacturing market in United States are Generac Power Systems, Inc., Caterpillar Inc. and Cummins Inc.
Manufacturing prime mover generator sets and Manufacturing fractional horse power motors are part of the Prime Mover Generator Sets Manufacturing in the US industry.
The company holding the most market share in United States is Generac Power Systems, Inc..
The level of competition is moderate and steady in the Prime Mover Generator Sets Manufacturing in the US industry in United States.