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Commercial gensets market size was valued at over USD 12 billion in 2020 and annual installation is anticipated to surpass 1,300 thousand units by 2027. A genset, also known as a power generator, is defined as an electrical unit comprising a generator, an engine, and other ancillaries that produce electrical power.
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Ongoing infrastructural development activities and increasing significance of emergency preparedness & power backup amongst consumers will propel the market scenario. Burgeoning population growth and ongoing urbanization have boosted the demand for consistent electricity supply. Limited grid access in remote locations along with rising urgency to facilitate continued business operations will fuel the demand for commercial gensets.
| Report Coverage | Details |
|---|---|
| Base Year: | 2020 |
| Market Size in 2020: | 12.8 Billion (USD) |
| Forecast Period: | 2021 to 2027 |
| Forecast Period 2021 to 2027 CAGR: | 6.5% |
| 2027 Value Projection: | 21.8 Billion (USD) |
| Historical Data for: | 2017 to 2020 |
| No. of Pages: | 750 |
| Tables, Charts & Figures: | 1,054 |
| Segments covered: | Power Rating, Fuel, End Use, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Ongoing digitalization and development of commercial establishments will augment the commercial gensets industry statistics
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330-750 kVA rated units, in 2020, contributed to over 30% of the overall market share. High applicability driven by the requirement for backup and prime power across commercial complexes including telecom towers, hotels, and educational institutions will enhance the product adoption. Surging costs incurred during data center power outages & downtimes are set to impart a guiding force for the large-scale commercialization of these units. Furthermore, ongoing expansion of mobile towers to cater to the requirements of a burgeoning population growth primarily across developing economies will propel the commercial gensets market outlook.
50-125 kVA rated units are set to witness increased adoption owing to surging demand from several remote areas that lack connection to the central power transmission network and are solely dependent on generators for electrification. Frequent and unpredictable power failures on account of frequent & intensifying weather-related calamities comprising hurricanes, earthquake, and floods will substantially widen the deployment spectrum of these units.
Better performance and longer life span and when compared to the existing counterparts are set to drive the diesel-based commercial gensets market size
Diesel gensets accounted for over 60% of global market share in 2020. DG sets industry share is set to witness steady growth on account of its ability to offer flexible, scalable, and weather-independent operations. Prevailing environment protection laws may hinder the sales of these units, however, their low up-front costs and round the clock power availability will proliferate the use of diesel gensets. Moreover, higher efficiency coupled with increased product life span and reliable engine performance are some of the prominent factors providing substantial impetus to the usage of these gensets.
Rising necessity to offer consistent power supply to the Data Centers and hospitals is set to drive the gensets deployment
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The sudden outspread of coronavirus followed by second wave hitting prime economies has resulted in halting of overall industry operations owing to implementation of stringent curfews and nationwide lockdowns. However, surging demand for rapid construction activities owing to development of makeshift hospitals, is set to trigger the demand for gensets as an indispensable power supply source. Urgency to provide consistent electricity supply to the ICUs to counter the break in operational flow driven by surging count of COVID-infected patients will enhance the industry outlook.
Ongoing digitalization across telecom sector driven by prominent investments from global MNCs primarily across emerging nations will encourage the demand for continuous electricity, thereby strengthening the market statistics. Furthermore, suitable government initiatives including National Digital Transformation Program in Vietnam is anticipated to propel the market scenario. For instance, the Government of Bangladesh (GoB) allows 60% foreign ownership in the telecommunication infrastructure to promote the investment scenario across the telecom sector. Moreover, unpredictable weather conditions and increasing occurrences of natural calamities followed by prolonged power outages along with wide scale product adoption will augment the industry landscape.
Power utilities opting for load shedding period driven by accelerating electricity demand will fuel commercial gensets market share
Standby power application is anticipated to rise owing to the wider applicability of these units to provide a supply in events of electrical failures thereby avoiding huge financial, reputational, and product losses. Surging product deployment across industries comprising commercial complex, infrastructure, and large industries to maximize their operational & financial performances is set to fuel the gensets business scenario.
Asia Pacific commercial gensets market size is anticipated to witness significant growth on account of robust development of commercial spaces
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In Asia Pacific, China, Japan, South Korea and India contributed to over 70% of the market share in 2020. Development of commercial spaces including hotels, malls and retail stores has significantly corresponded to an augmented demand for a steady power supply, thereby enhancing the sale of gensets. Several Southeast Asian countries comprising Indonesia and Thailand are witnessing large-scale commercial infrastructure expansion and ongoing digitization driven by Industrial Revolution 4.0, thereby imparting an impetus to the commercial gensets market expansion.
R&D investments along with market expansion will act as a crucial point for participants
Increasing R&D investments along with technological collaborations by prominent industry participants is set to positively influence the market potential. Furthermore, manufacturers are implementing strategies including capacity mergers, expansions, acquisitions, partnerships & collaborations with an aim to maintain their competitive advantage. Eminent players operating across the commercial gensets market include JCB, Caterpillar, Cummins, Kirloskar Oil Engine limited, Aggreko, Himoinsa, Powerica Ltd., MTU Onsite Energy, Briggs & Stratton, Atlas Copco, Generac, John Deere, Escorts Group, Yamaha, Wärtsilä, and Ashok Leyland amongst others.
Commercial gensets market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2017 to 2027, for the following segments:
By Power Rating
- <50 kVA
- 50-125 kVA
- 125-200 kVA
- 200-330 kVA
- 330-750 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
- Construction
- Infrastructure
- Large Industries
- 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
- Sri Lanka
- Myanmar
- Bangladesh
- Nepal
- Middle East
- Saudi Arabia
- UAE
- Qatar
- Turkey
- Iran
- Oman
- Africa
- Egypt
- Nigeria
- Algeria
- South Africa
- Angola
- Kenya
- Mozambique
- Latin America
- Brazil
- Mexico
- Argentina
- Chile
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