According to the International Energy Agency (IEA)'s latest "Global Power Equipment Market Report," the global generator parts market is projected to reach $38 billion in 2025, a year-on-year increase of 9.2%. This growth is primarily driven by the accelerated construction of renewable energy power plants and rising demand for retrofits of older units.

The report notes a significant increase in demand for accessories such as high-efficiency excitation devices, intelligent grid controllers, and lightning protection modules in wind power and photovoltaic energy storage systems. The Asia-Pacific region has become the largest consumer market, with China, India, and Southeast Asian countries experiencing year-on-year increases in parts purchases exceeding 15% due to a multitude of grid upgrade projects.

At the same time, digital operations and maintenance are driving the rise of "smart accessories." Smart sensors and data acquisition modules with remote monitoring and fault warning capabilities are gradually replacing traditional components. Industry analysts predict that the market share of generator parts with IoT capabilities will exceed 30% in the next three years.