Commercial Gensets Market - By Power Rating (≤ 50 kVA, > 50 kVA - 125 kVA, > 125 kVA - 200 kVA, > 200 kVA - 330 kVA, > 330 kVA - 750 kVA, > 750 kVA), By Fuel (Diesel, Gas, Hybrid), By Application (Standby, Peak Shaving, Prime/Continuous), & Forecast, 2024 – 2032

Commercial Gensets Market Size

Commercial Gensets Market size was valued at USD 13.7 billion in 2023 and is estimated to grow at a 7.6% CAGR between 2024 and 2032. A commercial gensets is defined as an electrical equipment comprising a generator, an engine, and other ancillaries, which produce electrical power. The product is primarily deployed to provide power in sites where grid access is unavailable and to supply emergency power during a grid failure.

The commercial generator sets market is set to witness significant growth owing to stricter environmental regulations and paradigm shift towards cleaner sources of power. These units have emerged as one of the most prevalent and strategically important solutions to address power deficits, particularly when compared to other alternative backup sources. Wide scale utilization of these units across healthcare facilities and data centers will positively sway the industry potential.

COVID– 19 Impact

The COVID-19 pandemic has shown a significant impact on commercial gensets market. The different geographies have experienced the pandemic in various stages, depending on the prevailing situation and the decisions made by respective governments. The economic impact of the pandemic has resulted in financial constraints for businesses and organizations. Furthermore, he application areas including hospitality, tourism, and retail have experienced significant disruptions, leading to reduced demand for gensets.

Commercial Gensets Market Analysis

The diesel gensets market will witness around 6.9% growth rate through 2032. The commercial gensets market is likely to observe an appreciable momentum owing to their key benefits including scalability, flexibility, and ability to operate regardless of weather conditions. Moreover, the consistent and increasing need to enhance power generation capacities to meet the rising demand from the commercial facilities will fuel the product penetration.

The > 50 kVA - 125 kVA rated commercial gensets market holds a market share of over 10% in 2022. The continuous expansion of mobile towers to meet the growing needs of an expanding subscriber base will contribute to the business growth. This expansion is driven by the increasing number of commercial complexes, large industries, and retail stores.

Based on end use, the market is segmented as telecom, healthcare, data centers, educational institutions, government centers, hospitality, retail sales, real estate, commercial complex, and infrastructure. The construction industry has experienced a significant surge in demand for robust activities, particularly in the development of hospitals and healthcare facilities. Moreover, the up-scaling deployment of on-site gensets in off-grid or remote locations to power advancing equipment will contribute to the enhanced product adoption.

Based on application, the commercial gensets market is segmented as standby, peak shaving and prime/continuous. The prime power application accounted for over USD 4 billion in 2022. These units are primarily utilized in remote locations where access to the grid is limited or nonexistent. Increasing electrification programs along with robust deployment of gensets of support the main grid or integrate with renewable power sources will escalate the business outlook.  Commercial standby generator sets market is expected to cross USD 13 billion by 2032.

The North America commercial gensets market is poised to surpass USD 2.5 billion by 2032. The increasing costs associated with data center outages, along with surging consumer inclination toward reliable backup power solutions will augment the business landscape. Stringent government norms to reduce carbon emissions along with frequent and unpredictable power failures will positively impact the industry landscape. The expansion of commercial & retail complexes has significantly corresponded to an increased demand for consistent power supply across the region.
 

Commercial Gensets Market Share

The key industry players operating across the commercial gensets market include:

• Cummins Kirloskar
• Caterpillar
• Trane
• Yamaha Motor Co.
• Atlas Copco
• J C Bamford Excavators Ltd.
• MAHINDRA POWEROL
• Deere & Compan
• ASHOK LEYLAND
• MITSUBISHI HEAVY INDUSTRIES
• Siemens AG
• Supernova Genset
• Kohler
• Sudhir Group
• Aggreko
• Huu Toan
• Rolls-Royce
• Powerica Limited
• HIMOINSA
• Wärtsilä
• Honda Motor Co.
• FG Wilson
• Generac Power Systems
• Briggs & Stratton.
   

Commercial Gensets Industry News

• In August 2022, Kirloskar introduced a gas-powered genset series. These gensets are equipped with a digital monitoring system that allows customers to remotely monitor their performance and track their real-time activities. In addition, the noise level and emission of this series are much lower compared to a conventional generating set. This product operates in various conditions and automatically switches on once the power supply is cut off & switches off once the supply returns.
   
• In April 2022, Caterpillar expanded its power product range with the launch of the 310 kVA output capacity XQP310 gensets. These gensets offer 12% more power compared to its predecessor. The company’s gensets are designed for flexibility between 50 - 60 Hz and across a range of voltages. In addition, this enables one machine to satisfy various load requirements in different locations and applications such as oil & gas, manufacturing, and construction.
   

This commercial gensets market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2019 to 2032, for the following segments:

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By Power Rating

• ≤ 50 kVA
• > 50 kVA - 125 kVA
• > 125 kVA - 200 kVA
• > 200 kVA - 330 kVA
• > 330 kVA - 750 kVA
• > 750 kVA

By Fuel

• Diesel
• Gas
• Hybrid

By End Use

• Telecom
• Healthcare
• Data Centers
• Educational Institutions
• Government Centers
• Hospitality
• Retail Sales
• Real Estate
• Commercial Complex
• Infrastructure
• Others

By Application

• Standby
• Peak Shaving
• Prime/Continuous

The above information has been provided for the following regions and country:

• North America
  • U.S.
  • Canada
• Europe
  • Russia
  • UK
  • Germany
  • France
  • Spain
  • Austria
  • Italy
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • Philippines
  • Myanmar
  • Bangladesh
• Middle East
  • Saudi Arabia
  • UAE
  • Qatar
  • Turkey
  • Iran
  • Oman
• Africa
  • Egypt
  • Nigeria
  • Algeria
  • South Africa
  • Angola
  • Kenya
  • Mozambique
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile