Generator Sets Market Size 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 (Residential, Commercial {Telecom, Healthcare, Data Centers, Educational Institutions, Government Centers, Hospitality, Retail Sales, Real Estate, Commercial Complex, Infrastructure), 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, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2021 – 2030

Published Date: May 2021  |  Report ID: GMI2381  |  Authors: Ankit Gupta, Asmita Semwal

Report Format: PDF   |   Pages: 960   |   Base Year: 2020

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Generator Sets Market size exceeded USD 31 billion in 2020 and annual installation is anticipated to surpass 4.5 million units by 2030. A genset (generator set), also known as a power generator is defined as an electrical equipment comprising of a generator, an engine, and other ancillaries, which produce electrical power. These units are primarily deployed to supply emergency power during a grid failure or to provide power in sites with limited grid access. An increasing number of weather-related disasters leading to unpredictable extended electrical outages will further boost the product adoption.

Generator Sets Market

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Increased stringency of environmental compliances and focus on cost reduction, energy efficiency, and utilization of cleaner sources are amongst the most instrumental trends stimulating generator sets industry outlook. Growing significance of reliable emergency power supply along with increasing susceptibility of grid infrastructure to external damage will further shape the industry potential. Increasing reliance on electronics & electrical equipment to sustain day-to-day operations across a multitude of end users will accelerate the product deployment. Moreover, surging customer demand for zero downtime and consistent electricity supply will continue to entail the deployment of these systems.

Increasing applicability across commercial establishments will propel the 125-200 kVA rated generator sets market scenario

Global Generator Sets Market

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125-200 kVA rated generator sets market is estimated to reach over USD 11 billion by 2030. Wide scale product adoption across commercial sector including complexes, telecom towers, hotels, and educational institutions is set to propel the market share. Ongoing expansion of mobile towers to cater to the requirements of a compounding subscriber base will further fuel the market size. In addition, the proliferation of large industries, and retail stores has significantly corresponded to an increased demand for a consistent power supply, thereby enhancing  the industry landscape.

Infrastructure development & surging demand from healthcare sector will boost the 200-330 kVA generator sets industry statistics. Rising demand from data centers on account of increased data usage following the work from home regime across several sectors will positively impact the business landscape.

Rapid industrialization & burgeoning construction sector will augment the diesel generator sets market forecasts

Diesel generator sets industry is anticipated to grow at a rate of over 6% through 2030. These units are deployed as a prominent solution for standby or mobile power on account of their scalable, flexible, and weather-independent operation. Furthermore, increasing applicability across mining, oil & gas, telecom, construction sector will positively influence the market trends. Upsurge in the continuing industrial revolution has paralleled into a substantial rise in the necessity of consistent power to ensure smooth operation of various industries. Thus, the constant amplifying requirement to ramp up generation capacities in order to cater to the increasing demands across these industries has sustained the use of these systems.

Upgradations in IT sector and increasing focus toward digitization will boost the commercial generator sets industry trends

The commercial generator sets market exceeded USD 9 billion in 2020. Upgradations in IT sector accompanied by exponential development of the data centers will complement the business growth. Surging focus toward digitalization along with increased end-user awareness toward rising power outages will improve the industry outlook. These units integrates key features including high durability, capacity & low volatility rate which makes them the prime choice for diversified mining operations.

Increasing demand for constant power supply across automotive and pharmaceuticals manufacturing industries are some of the underlying parameters supporting the industry statistics. These industries have resorted to automatic gensets to provide standby power supply in events of electrical failures thus avoiding huge financial, reputational and product losses.

Prime power generator sets market will grow on account of ongoing electrification programs

The prime power generator sets demand is anticipated to surpass USD 19 billion by 2030. Increasing electrification rate along with growing power demand across remote locations has instituted a positive industry scenario. These units are involved with prime power units to support the main grid or to integrate it with renewable power sources thereby reinforcing the intermittent power supply. For instance, the sub-Saharan economies, where power outages span for most hours is set to witness robust deployment of generator sets.

Standby generator sets market is set to witness a CAGR of over 7% between 2021 and 2030. These backup units are put to operation mainly in case of a short-term or temporary power disruption to counter the system downtime and loss of in-process information. Further, increasing severity & frequency of weather-related disasters have significantly accelerated the adoption of these units.

The global economy has been hit hard by an unforeseen outbreak of the novel coronavirus (COVID-19). The outbreak has delayed a wide array of projects including infrastructural development, modular & stick-built homes, and restructuring & renovation projects, further impacting the market growth. However, increasing urgency to cater to the demand of continuous power supply across healthcare sector is set to augment the business landscape.

Asia Pacific market is set to dominate the overall industry scenario

Asia Pacific Generator Sets Market

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Asia Pacific and North America holds the share of over 65% market share in 2020. Increasing risk awareness and growing implementation of preparedness measures to combat natural calamities, will continue to pave the way for the expansion of the generator sets across the North America. Extended power outages coupled with changing climatic conditions particularly during frigid winter months will further escalate the business expansion.

Asia Pacific generator sets market is set to exceed USD 31 billion by 2030. The proliferation of commercial, industrial, residential, and retail complexes has significantly corresponded to an increased demand for consistent power supply which in turn will favor the business scenario. For instance, India is poised to witness an extensive deployment of these generator sets on account of the dynamic expansion of telecom infrastructure and robust construction activities in the country.

Product innovation and strategic partnerships will act as a key point for market participants

The major players are leading toward digital advancements while forming merger and acquisition to meet the competition prevailing in the industry. Eminent companies operational across generator sets market includes Cummins, Kirloskar Oil Engines, Briggs & Stratton, Kohler Co., Generac Power Systems, Yamaha Motor, Powerica, Escorts, Sterling & Wilson, HIMOINSA, Caterpillar, Trane Technologies, Mahindra Powerol, Atlas Copco, C&S Electric, JCB, MTU Onsite Energy, Deere & Company, Ashok Leyland, Greaves Cotton, Mitsubishi Heavy Industries, Wärtsilä, Siemens and Honda Motors.

Global generator sets market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2017 to 2030, 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

  • Residential
  • Commercial
    • Telecom
    • Healthcare
    • Data Centers
    • Educational Institutions
    • Government Centers
    • Hospitality
    • Retail Sales
    • Real Estate
    • Commercial Complex
    • Infrastructure
    • Others
  • Industrial
    • Oil & Gas
    • Manufacturing
    • Construction
    • Electric Utilities
    • Mining
    • Transportation & 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
    • 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


Frequently Asked Questions (FAQ) :

The global generator sets market size is expected to reach USD 64 billion valuation by 2030.
The 125-200 kVA power rating segment will surpass USD 11 billion by 2030 owing to robust demand from the commercial sector, including hotels, telecom towers and complexes.
The diesel gensets segment will expand at a strong CAGR of more than 6% through 2030 with robust industrialization and rising construction activities.
APAC generator sets industry share is poised to surpass USD 31 billion by 2030 with increasing demand from industrial, commercial, residential and retail complexes.

Premium Report Details

  • Published Date: May 2021
  • Pages: 960
  • Tables: 1431
  • Charts / Figures: 54
  • Companies covered: 30
  • Countries covered: 40

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