Global Generator Sets Market Size By Power Rating (<75 kVA, 75-375 kVA, 375-750 kVA, >750 kVA), By Fuel (Diesel, Gas, Hybrid), By End-Use (Residential, Commercial {Telecom, Healthcare, Data Centers, Educational Institutions, Government Centers, Hospitality, Retail Sales, Agriculture, Aquaculture), Industrial {Oil & Gas, Manufacturing, Construction, Electric Utilities, Mining, Transport & Logistics), By Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2030

Published Date: Aug 2020  |  Report ID: GMI2381  |  Authors: Ankit Gupta, Asmita Semwal

Report Format: PDF   |   Pages: 720   |   Base Year: 2019

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Generator Sets Market size exceeded USD 20 billion in 2019 and yearly installation is anticipated to surpass 4 million units by 2030. Weather unpredictability and rising frequency of persistent power outages owing to natural calamities together with increased significance of power backup and emergency preparedness amongst consumers will complement the business growth.

Generator Sets Market

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Mass deployment of these units across commercial, industrial and residential spaces catering to manufacturing, mining, oil & gas and construction areas amongst others will stimulate the overall market outlook. Further, rise in critical electronic load on account of rapid digitalization and growth of IT sector accompanied by end-user preference towards supply of persistent power will complement the industry scenario.

Global Generator Sets Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 20.1 Billion (USD)
Historical Data for: 2014 to 2019 Forecast Period: 2020 to 2030
Forecast Period 2020 to 2030 CAGR: 8.0% 2030 Value Projection: 39.1 Billion (USD)
Pages: 720 Tables, Charts & Figures: 1354
Geographies covered (28): U.S., Canada, Russia, UK, Germany, France, Spain, Austria, Italy, China, Australia, India, Japan, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Philippines, Saudi Arabia, UAE, Qatar, Turkey, Iran, Oman, Egypt, Nigeria, Algeria, South Africa, Angola, Kenya, Mozambique, Brazil, Mexico, Argentina, Chile
Segments covered: Power Rating, Fuel, End-Use, Application
Companies covered (20): Cummins, Inc., Kirloskar Oil Engines, Briggs & Stratton Corporation, SDMO Industries, Generac Power Systems, Yamaha, Powerica, Escorts Group, Sterling Generators, Himoinsa, Caterpillar, Trane Technologies, Atlas Copco, C&S Electric, Supernova Genset, JCB, Mahindra Powerol, MTU, John Deere, Ashok Leyland, Greaves Cotton, Mitsubishi, Wärtsilä, Rapid Power Generation, Huu Toan
Growth Drivers:
  • Increasing intensity & frequency of weather-related disasters
  • Escalating data center outage costs
  • Growing demand for uninterrupted power supply
  • Emerging trends in real estate
  • Expansion of the datacenter industry
  • Favorable regulatory policies to boost investment
  • Rapid industrialization & infrastructure development
  • Burgeoning expansion in the telecom sector
  • Unreliable grid infrastructure coupled with rapid population growth
Pitfalls & Challenges:
  • High capital, installation & maintenance costs
  • Shifting trends toward renewable power generation

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Spread on COVID-19 on the industry is set to impact the overall growth in this sector

The sudden outbreak of the novel Coronavirus (COVID-19) has brought all the industries to a standstill pertaining to the nationwide lockdown and curfews implemented across the major economies. The move was initiated globally after WHO declared the virus spread as pandemic and a global health threat. Sudden rise in data demand and industry automation following the adoption of work from home regime coupled with implementation of restrictions on movement of labors has severely impacted the manufacturing sector.

For instance, China, a major supplier of raw material for gensets was the first nation to implement the lockdown thereby magnifying the lag in the manufacturing sector across all international industries.

By Power Rating

UK Generator Sets Market Value By Power Rating

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<75 kVA generator sets market, in 2019 held over 40% of the global industry revenue share. Increasing requirement from large scale residential establishments driven by proliferated data usage via smartphones, social networking and e-commerce platforms is set to fuel the demand for these products. In addition, rising number of companies allowing their employees to work from home along with high costs incurring data centers is imparting a driving force favoring the large-scale adoption of these gensets.

Ongoing infrastructural development across the developing nations following the major investments in construction sector will propel the 75-375 kVA market share. The generator sets are required for facilitating uninterrupted power source in the construction sector in order to operate the equipment and jobsite tools. Moreover, unavailability of electricity in remote and off grid locations together with unprecedented storms makes these units as a vital source of emergency power supply.

By Fuel

Diesel generator sets industry, in 2019, held over 70% of the overall revenue share. Introduction of the stringent emission norms is encouraging the adoption of clean units. However highly flexible functioning and its ability to provide reliable performance together with a longer lifespan of engine will facilitate the sustaining the demand of DG sets. The advent of hybrid technologies and natural gas fueled gensets may hamper the overall growth of these units, however these units still account for a majority of existing market share.

Gas generator sets market revenue is anticipated to rise owing to consumer inclination towards energy security, independency from consumption of fossil fuel and on account of stringent emissions-based regulations. Furthermore, rapid development of LNG infrastructure driven by mega O&G exploration projects adopted by several governments will favor the industry expansion.

By End Use

U.S. Generator Sets Market Share By Commercial

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Commercial generator sets market is set to register more than 8% CAGR through 2030 on account of advancements in technology and focus toward digitization. Further, exponential development of the data centers accompanied by upgradations in IT sector will stimulate the product demand. The ability of gensets to counterbalance the humongous power outage costs which results owing to voltage fluctuations and persistent power interruptions will positively influence the business statistics.

Extreme weather conditions in conjunction with increased frequency of weather-related mishaps have led to a rise in unpredictable electrical outages which will further complement the residential gensets market outlook. The installation of these units across majority of the residential establishments as an emergency power backup in case of a grid failure or blackout is a prevalent application of these products. Amplifying demand load, increased end-user awareness and rising power outages are some of the key factors favoring the market statistics.

By Application

Prime power generator sets market is set to witness over 8% CAGR between 2020 and 2030. Emerging economies are aiming for dynamically improved rates of electrification in turn empowering the mass deployment of these units. Furthermore, nations comprising of Sub-Saharan countries, which are inflicted with power disruptions for majority of working hours will drive the market trends. Therefore, the deployment of these units act as a major source of power catering to a wider array of customers.

Standby genset market, in 2019 accounted for over 50% of the global gensets industry revenue share. These units are put to operation generally in case of a temporary or short-term power disruption in primary power supply or the utility grid. In addition, severity of natural calamities leading to electricity outages together with consumer awareness toward power backup solutions will encourage the product adoption.

By Region

Saudi Arabia Generator Sets Market By End Use

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Middle East generator sets market will experience substantial growth fueled by escalated construction activities on account of expansion of regional infrastructure and to attain economic diversification. Moreover, nations including Saudi Arabia, UAE and others which are continuously striving toward the expansion of their oil-based businesses across other regions are facilitating cyclical gensets demand , in turn encouraging the positive industry outlook.

North America generator sets market is set to witness a rise owing to escalated weather-related disasters which result in the degrading resilience and heightened vulnerability of the local grid infrastructure. As per the U.S. Department of Energy, Hurricane Dorian which stuck the country in 2019 resulted in 90,076 customer power outages.

In such scenarios where power blackout is on a large scale, generator sets find their maximum utilization. In addition, rising end user awareness toward adoption of reliable power backup solutions coupled with increased costs incurred while data center outages will continue to stimulate the market demand.

Competitive Market Share

Eminent players in global generator sets industry include Mitsubishi Heavy Industries, Kirloskar Oil Engines Limited, Cummins, Generac, SDMO Industries, Briggs & Stratton, Yamaha Motor, Escorts Group, Powerica, Himoinsa, Sterling Generators, JCB, Caterpillar, Trane Technologies, MTU Onsite Energy, Atlas Copco, Siemens, John Deere, Supernova Gensets, Mahindra Powerol, Rapid Power Generation Ltd, Huu Toan, Greaves Cotton Limited, Ashok Leyland and Wärtsilä amongst others.

Global generator sets market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2015 to 2030, for the following segments:

By Power Rating

  • <75 kVA
  • 75-375 kVA
  • 375-750 kVA
  • >750 kVA

By Fuel

  • Diesel
  • Gas
  • Hybrid

By End Use

  • Residential
  • Commercial
    • Telecom
    • Healthcare
    • Data Centers
    • Educational Institutions
    • Government Centers
    • Hospitality
    • Retail Sales
    • Agriculture
    • Aquaculture
    • Others
  • Industrial
    • Oil & Gas
    • Manufacturing
    • Construction
    • Electric Utilities
    • Mining
    • Transport & Logistics
    • 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
  • Middle East
    • Saudi Arabia
    • UAE
    • Qatar
    • Turkey
    • Iran
    • Oman
  • Africa
    • Egypt
    • Nigeria
    • Algeria
    • South Africa
    • Angola
    • Kenya
    • Mozambique
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Chile

Frequently Asked Questions (FAQ) :

The valuation of generator sets market in the year 2019 was USD 20.1 bn.
The generator sets market is expected to witness a remuneration of USD 39.1 bn in 2030.
Rising number of power outages owing to natural calamities will push generator sets industry size, slated to cross 4 million units in terms of installations by 2030.
In 2019, <75 kVA segment accounted for 40% of the industry share and may depict commendable growth ahead, driven by increasing demand from large scale residential establishments.
Diesel will gain commendable momentum in the mainstream, owing to strict emission norms and flexible functioning of gensets powered by this fuel. In 2019, diesel held 70% gensets industry share.
Standby gensets, in 2019, held more than 50% of the market share and will experience massive growth ahead, powered by increasing occurrence of natural calamities leading to severe electricity outages.

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Premium Report Details

  • Published Date: Aug 2020
  • Pages: 720
  • Tables: 1306
  • Charts / Figures: 48
  • Companies covered: 20
  • Countries covered: 28

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