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, 2019– 2030

Industry Trends

Global Generator Sets Market size was valued over USD 18 billion in 2018 and is anticipated to witness an annual growth rate of over 6% by 2030.
 

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Increasing frequency & severity of weather-related disasters leading to chronic power outages accompanied by rising significance of emergency preparedness solutions amongst end-users will stimulate the global gensets market size. These products are being increasingly deployed across households, commercial spaces & multiple industries including Oil & Gas, mining, manufacturing, construction amongst others. Increased demand for constant power supply predominantly driven by growing penetration of critical electronic load will positively impact the business growth.
 

Global generator sets market size will witness growth on account of expanding  commercial centers and large infrastructures favored by rapid urbanization and significant economic transformation. Moreover, limited grid connectivity coupled with high electricity rates prevalent across developing nations will boost product deployment. As reported by the World Bank in 2016,  several nations including Mali, Chad, Mozambique, Angola, Zimbabwe, Uganda, and  Sudan had electricity access to less than 50%.
 

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Global Generator Sets Market, By Power Rating

>750 kVA-based generator sets market, in 2018 held over 19% of the global market revenue size. Resurgent demand from data centers driven by increased data usage via e-commerce platforms, social networking, government projects and smartphones will significantly create demand for these units across the business landscape. Moreover, elevating costs of data centers outages and downtimes have further imparted a driving force for the wide-scale commercialization of these gensets.

Infrastructure expansion & flourishing construction sector majorly witnessed across emerging economies will drive the 75-375 kVA generator sets market growth. The construction sector is a major end-user of these gensets to meet power requirements for the uninterrupted operation of jobsite tools and equipment. These units are vital for supplying power to work sites where no electricity is available and are essential for restoring services following storms and other disasters.
 

Global Generator Sets Market, By Fuel

Diesel gensets in 2018, accounted for 70% share of the global generator sets market revenue share. High flexibility, scalability, reliable performance and longer engine lifespan are some of the underlying features sustaining the use of DG sets across the global gensets landscape. These units, however, are facing challenges from the growing infiltration of natural gas fueled units and emerging hybrid technologies favored by stringent emissions standards and environmental regulations.
 

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Gas generator sets market size will witness an exponential growth on account of rising implications for energy security, concerns over fossil fuel consumption, and increasingly stringent emissions legislations. In addition, expanding LNG infrastructure along with growing availability of natural gas favored by ongoing shale gas boom will stimulate the industry expansion.
 

Global Generator Sets Market, By End Use

Commercial generator sets market size is predicted to expand over 6 % by 2030. Increasing digitization accompanied by an exponential expansion in the data center infrastructure will stimulate the demand for gensets. The ability of these units to effectively backup power interruptions including voltage fluctuations or electrical outages will accelerate their deployment across commercial establishments to circumvent huge outage costs and resultant financial losses.
 

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Rising frequency of weather-related disasters leading to unpredictable extended electrical outages will drive residential gensets market size. The application is majorly driven by the prevalent installation of gensets across households as an emergency power supply in an event of a blackout or grid failure. Increased customer awareness, rising power failures, and amplifying demand load on the main grid are some of the instrumental factors supporting the industry growth.
 

Global Generator Sets Market, Application

Prime power generator sets market size is predicted to grow over 7% by 2030. Several economies that are dynamically striving for improved electrification rates will entail the use of these units to support the main grid or to integrate with the renewable power sources. Moreover, developing nations, most notably the sub-Saharan countries, where power disruptions continue for the majority of hours will continue to involve a large-scale deployment of these gensets as a primary source of power.
 

Standby units, in 2018 accounted for over 50% of the global gensets market revenue share. These gensets are operated during a temporary disruption in the utility grid or other primary electrical power supply. Increasing intensity of weather-caused outages, escalating load on grid supply coupled with rising consumer awareness toward backup power solutions will expand the use of standby units to a wider array of end users.
 

Global Generator Sets Market, By Region

North America generator sets market size will witness growth on account of increasing vulnerability & declining resilience of the regional grid infrastructure to weather-related disasters.  Increasingly frequent & severe natural disruptions, most notably the Hurricane Irma and Hurricane Harvey will continue to stimulate product adoption. Furthermore, rising costs of data center outages coupled with strengthening consumer awareness toward reliable backup power solutions will drive business expansion in the region.
 

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Middle East generator sets market is set to witness an appreciable growth driven by an ongoing expansion in the regional infrastructure along with enhanced focus toward economic diversification. Additionally, countries including UAE, Saudi Arabia, and others are rigorously striving toward diversifying their oil-based economies with ventures across other industries, thereby creating cyclical demand for gensets as a reliable source of power.
 

Competitive Market Share

Notable industry players operating across the global generator sets market include Cummins, SDMO, Generac, Kirloskar Oil Engines Limited, Briggs & Stratton, Yamaha Motor, Himoinsa, Caterpillar Ingersoll-Rand, Atlas Copco, C&S Electric, Powerica, Escorts, JCB, Ashok Leyland, Greaves Cotton, MTU Onsite, Mitsubishi Heavy Industries, Wärtsilä amongst others.
 

Gensets  Industry Background

A genset (generator set), also known as a power generator may be defined as an electrical equipment comprising a generator, an engine, and other ancillaries, which produce electrical power. The product is primarily deployed to supply emergency power during a grid failure or to provide primary power in sites where grid access is unavailable. Increasing dependency on electricity and security of supply will stimulate the product demand across residential, commercial, and industrial applications.