12 Biggest Generator Companies in the World

In this piece, we will take a look at the twelve biggest generator companies in the world.

The importance of electricity in the modern day world cannot be understated. Life in the 21st century is built around electricity, and power generation infrastructures of all countries are considered a national security asset due to this integrality. Initially, electricity was used only to power public and business infrastructure, but as the light bulb popularized by Thomas Edison and Joseph Swan gained popularity, people could soon light up their homes as well.

As the industry evolved, power generation switched from water or coal to other sources as well, particularly those involving hydrocarbons. Alongside, the invention of the generator took place during the same time line, and culminated in the modern day user being able to generate electricity at home simply by powering up a motor and feeding it fuel.

Today, generators are powered by a variety of fuels, such as natural gas and diesel. The market is also worth billions of dollars, and, according to a research report from Fact.MR, will be worth $32 billion by the end of this year. From then until 2023, the industry will grow at a compound annual growth rate (CAGR) of 5.5% and sit at an estimated value of $55 by the end of the forecast period. Additionally, the research firm outlines that by 2022 end, China will be the largest generator market in the world, as it will command 22.6% of the market for a $7.3 billion share. North America and Europe will be the next two largest markets, commanding 19.9% and 16.2% shares, respectively.

Another report, this time from Fortune Business Insights, has similar estimates for the market. It outlines that the global generator sales market was worth $26.7 billion last year and it will sit at $28.5 billion as 2022 ends. From there on until 2029, the industry will grow at a 5.8% growth rate and be worth $42.3 billion in 2029. Fortune Business Insights believes that the growth in the urbanization of rural areas will drive this trend, and on the industry side of things, the growth in construction and oil and gas exploration will spur the demand for generators. In terms of market subcategories, the research firm shares that generators capable of generating more than 750 kVA of electricity will be the fastest growers due to technological advancements enabling greater fuel efficiency and power generation.

Today’s piece will list down the largest generator companies in the world, out of which the top players are Caterpillar Inc. (NYSE:CAT), Deere & Company (NYSE:DE), and Honda Motor Co., Ltd. (NYSE:HMC).

Copyright: wihtgod / 123RF Stock Photo

Our Methodology

We took a look at the generator industry to sift out the top players and list them either by their market capitalization or the value at which they were acquired. Hedge fund sentiment for the publicly traded firms is also provided, and it comes courtesy of Insider Monkey’s 920 fund survey for Q3 2021.

12 Biggest Generator Companies in the World

12. Qulliq Energy Corporation

Market Value as of November 29, 2022: N/A

Qulliq Energy Corporation is a Canadian company that is owned by the government of Nunavut. The firm is primarily an electricity provider that serves the needs of the Nunavut province. Qulliq Energy Corporation is headquartered in Nunavut, Canada.

Nunavut is Canada’s largest province in Canada and it is divided into 25 communities. Qulliq Energy Corporation is responsible for providing all of these with electricity, and the firm relies exclusively on generators to meet its electricity demand. It operates 25 generation sites and all of these use generators, which then enables the firm to be flexible in meeting electricity demand as it can bring the generators online if demand is high and turn them off in the opposite case.

Qulliq Energy Corporation joins Deere & Company (NYSE:DE), Caterpillar Inc. (NYSE:CAT), and Honda Motor Co., Ltd. (NYSE:HMC) in our list of the world’s biggest generator companies.

11. Kirloskar Electric Company Limited (NSE:KECL.NS)

Market Value as of November 29, 2022: $58 million (1INR = 0.012USD)

Kirloskar Electric Company Limited (NSE:KECL.NS) is an Indian electrical equipment provider. The firm sells AC generators, DC motors, AC and DC drives, uninterruptible power supply systems, alternators, and transformers. It serves the needs of industrial users, such as power generation and transportation companies. The firm is headquartered in Bengaluru, India.

Kirloskar Electric Company Limited (NSE:KECL.NS) earned INR1.1 billion in revenue for its September quarter, alongside INR215 million in net income. This was a strong set of results that enabled the firm to grow the line items by 29% and a whopping 291%, respectively. Kirloskar Electric Company Limited (NSE:KECL.NS) has a $58 million market capitalization.

10. Wacker Neuson SE (ETR:WAC.DE)

Market Value as of November 29, 2022: $1.23 billion (1EUR = 1.04USD)

Wacker Neuson SE (ETR:WAC.DE) is a German industrial company that offers several different products to companies operating in the agriculture, construction, energy, and transport industries. These include generators, trowels, pumps, heaters, excavators, and more. Wacker Neuson SE (ETR:WAC.DE) is headquartered in Munich Germany, and it is also one of the oldest companies in the world after being set up in 1848.

Wacker Neuson SE (ETR:WAC.DE) offers smaller, portable generators as opposed to the heavy duty beasts that are operated by large manufacturers. These are designed to serve as backup equipment and run for long hours. They use Honda four stroke engines and are capable of automatically shutting off in case of low oil. Cumulatively, Wacker Neuson SE (ETR:WAC.DE) has six generators in its product portfolio, and the most powerful of these is capable of generating up to 12 kVA of power with a tank capacity of 24 liters.

9. Aggreko Plc

Market Value as of November 29, 2022: $2.77 billion (1GBP = 1.20USD) (Privately held)

Aggreko Plc is a British temporary power company that provides generators and other electrical products such as transformers and load banks for several different customers and use cases. These include mines, data centers, sports stadiums, manufacturing sites, and telecommunications service providers. The firm is headquartered in Glasgow, the United Kingdom.

Given the number of different sectors that Aggreko Plc provides generators for, its product portfolio consists of a lot of different products. These cover all ranges of power output, with the smallest generator providing a mere 20 kVA of power and running on diesel while the largest is capable of generating a whopping 1375 kVA and running on gas. The latter is a containerized generator, meaning that you can not simply just lug it around at will. It measures six meters in length and is 2.6 meters tall.

Aggreko Plc went private in 2021 with a value of $2.77 billion based on today’s exchange rate of £1 equaling $1.20.

8. Generac Holdings Inc. (NYSE:GNRC)

Market Value as of November 29, 2022: $6.47 billion

Generac Holdings Inc. (NYSE:GNRC) is an American company that is headquartered in Waukesha, Wisconsin. The firm sells power generation equipment, electrical storage systems, and other power products. It distributes the products through dealers, electronic commerce platforms, wholesalers, and directly to consumers.

Generac Holdings Inc. (NYSE:GNRC) provides generators for both homeowners and industrial users. For the former, the firm has more than 30 different products in its portfolio, with the most expensive generator retailing for more than $30,000 and being capable of generating 150kW of power. For industrial users, Generac Holdings Inc. (NYSE:GNRC) provides both fixed and mobile generators which are capable of generating more than 1200 kW of power.

36 out of the 920 hedge funds polled by Insider Monkey for their third quarter of 2022 investments had held a stake in Generac Holdings Inc. (NYSE:GNRC).

Generac Holdings Inc. (NYSE:GNRC)’s largest investor in our database is Ian Simm’s Impax Asset Management which owns 876,077 shares that are worth $155 million.

7. Mitsubishi Heavy Industries, Ltd. (TYO:7011.T)

Market Value as of November 29, 2022: $12.98 billion(1YEN = 0.0072USD)

Mitsubishi Heavy Industries, Ltd. (TYO:7011.T) is a Japanese firm that sells heavy equipment and machinery. Its products include power generation plants, fuel cells, rocket engines, gas treatment systems, and generators. The firm is headquartered in Tokyo, Japan.

Mitsubishi Heavy Industries, Ltd. (TYO:7011.T) has supplied more than 1,000 turbine generators for power plants all over the globe. Its products are cooled by either air, water, or hydrogen. They are capable of serving the needs of nuclear power plants and thermal power plants. The nuclear generators come under the RG-N series and have a capacity of up to 2,000 MVA.

6. Ingersoll Rand Inc. (NYSE:IR)

Market Value as of November 29, 2022: $21.53 billion

Ingersoll Rand Inc. (NYSE:IR) is an American firm that was set up in 1859 and is headquartered in Davidson, North Carolina. The firm provides lifting and air equipment, alongside generators and loading systems. It has a variety of different brands in its portfolio.

Ingersoll Rand Inc. (NYSE:IR) has sold several different generators that range from 75 kW to 200 kW. The firm’s fiscal third quarter saw it post $1.5 billion in revenue and $0.62 in earnings per share, with both beating analyst estimates. Ingersoll Rand Inc. (NYSE:IR) also had $1.6 billion in orders during the quarter, a new record.

By the end of 2022’s third quarter, 30 out of the 920 hedge funds studied by Insider Monkey had invested in Ingersoll Rand Inc. (NYSE:IR).

Ingersoll Rand Inc. (NYSE:IR)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 4.4 million shares that are worth $194 million.

Along with Caterpillar Inc. (NYSE:CAT), Deere & Company (NYSE:DE), and Honda Motor Co., Ltd. (NYSE:HMC), Ingersoll Rand Inc. (NYSE:IR) is one of the largest generator companies in the world.

5. Cummins Inc. (NYSE:CMI)

Market Value as of November 29, 2022: $34.64 billion

Cummins Inc. (NYSE:CMI) is an American industrial equipment provider with products such as engines, turbochargers, sensors control modules, standby, and prime power generators, A/C generators, and alternators. The firm is headquartered in Columbus, Indiana.

Cummins Inc. (NYSE:CMI)’s generators are capable of using gas, natural gas, propane, or diesel for generating power. They can be used by recreational vehicles, the healthcare sector, data centers, and even ships. The high horsepower, commercial generators are capable of generating a whopping 3,000 kW of electricity at prime levels.

Insider Monkey studied 920 hedge fund portfolios for their Q3 2022 investments and discovered that 32 had held a stake in Cummins Inc. (NYSE:CMI).

Cummins Inc. (NYSE:CMI)’s largest investor is Jean-Marie Eveillard’s First Eagle Investment Management which owns 2 million shares that are worth $407 million.

4. Honda Motor Co., Ltd. (NYSE:HMC)

Market Value as of November 29, 2022: $41.24 billion

Honda Motor Co., Ltd. (NYSE:HMC) is a Japanese firm that sells cars, motorbikes, and other mechanical products. The firm is headquartered in Tokyo, Japan.

Honda Motor Co., Ltd. (NYSE:HMC) has fourteen different generators in its product portfolio. These range from EU1000i generator which uses a 49 cc engine and generates 1,000 Watts of power, to the EB10,000 beast which generates 10,000 Watts and uses a 688 cc engine.

By the end of this year’s third quarter, ten out of the 920 hedge funds part of Insider Monkey’s survey had invested in Honda Motor Co., Ltd. (NYSE:HMC).

Honda Motor Co., Ltd. (NYSE:HMC)’s largest shareholder is Ken Fisher’s Fisher Asset Management which owns nine million shares that are worth $195 million.

3. Atlas Copco AB (STO:ATCO-A.ST)

Market Value as of November 29, 2022: $59.47 billion (1SEK = 0.095USD)

Atlas Copco AB (STO:ATCO-A.ST) is a Swedish firm that was set up in 1873 and is headquartered in Nacka, Sweden. The firm provides compressors, blowers, gas treatment equipment, generators, pumps, and boosters.

Atlas Copco AB (STO:ATCO-A.ST) sells large, mobile, and portable generators. Its TwinPower generator is a containerized product that is capable of generating 1450kW of electricity at prime levels. Additionally, the generator requires only two hours of maintenance for every 500 hours of operation and since it uses two generators, it is possible for one of these to be online while the other is under maintenance.

2. Caterpillar Inc. (NYSE:CAT)

Market Value as of November 29, 2022: $121 billion

Caterpillar Inc. (NYSE:CAT) is an American firm that manufactures and sells industrial equipment. The firm is headquartered in Deerfield, Illinois.

Caterpillar Inc. (NYSE:CAT) sells diesel, gas, and mobile generators. These range from 6 kW to a whopping 3,125 kW for diesel products, 100 kW to 4,500 kW for natural gas generators, and 30 kWA to 2,375 kWA for mobile generators.

Insider Monkey’s Q3 2022 study analyzed 920 hedge fund portfolios to determine that 43 had held a stake in Caterpillar Inc. (NYSE:CAT).

Michael Larson’s Bill & Melinda Gates Foundation Trust is Caterpillar Inc. (NYSE:CAT)’s largest stakeholder through owning 7.3 million shares that are worth $1.2 billion.

1. Deere & Company (NYSE:DE)

Market Value as of November 29, 2022: $133 billion

Deere & Company (NYSE:DE) is another American industrial firm that is also one of the oldest of its kind in the world since it was set up in 1837. The company is headquartered in Moline, Illinois, and it provides products to agriculture, construction, production, and other industries.

Deere & Company (NYSE:DE) provides generators for both commercial and residential use cases. Additionally, its motors are also used by other generator manufacturers, and the firm has partnered up with Kohler to build an outdoor standby generator as well.

57 out of the 920 hedge funds polled by Insider Monkey had bought Deere & Company (NYSE:DE)’s shares during this year’s September quarter.

Michael Larson’s Bill & Melinda Gates Foundation Trust is Deere & Company (NYSE:DE) ‘s largest investor. It owns 3.9 million shares that are worth $1.3 billion.

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Disclosure: None. 12 Biggest Generator Companies in the World is originally published on Insider Monkey.