Generator Sets Market Size, By Current (DC, AC), By Fuel (Gasoline, Diesel, Gas), By Phase (Single Phase, Poly-Phase), By Power Rating (<50 kVA, 50-300 kVA, 300-1000 kVA, >1000 kVA), By Application (Backup, Prime Power), By End-Use (Residential, Commercial, Industrial) Industry Analysis Report, Regional Analysis (U.S., Canada, Mexico, Russia, UK, Germany, France, Spain, Austria, Italy, China, Australia, India, Japan, Indonesia, South Korea, Saudi Arabia, UAE, Iran, Nigeria, Egypt, South Africa, Brazil, Argentina, Chile), Application Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024

Published Date: January 2018 | 440 Pages | Report ID: GMI2381 Report Format: PDF

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Industry Trends

Generator Sets Market size for 2016 was valued over USD 17 billion and is set to witness an annual shipment of over 13 million units by 2024.

North America Generator Sets Market Size, By End Use, 2016 & 2024 (USD Million)
 North America Generator Sets Market Size, By End Use, 2016 & 2024 (USD Million)


Intensifying demand for self-generating power owing to unreliable grid infrastructure and chronic power shortages will drive the global generator sets market size. The industry growth is primarily attributed to rapid industrialization, expanding population size and inadequate power supply across the emerging economies. According to the International Energy Agency, power grid supply is unavailable for more than 540 hours per year in the sub-Saharan Africa.

The exponential expansion of the data center industry corresponds to a significant growth in the generator sets market. Strengthening demand of gensets across the financial services firms, insurance companies, and IT services will positively impact the business landscape. Ability to backup power interruptions including voltage fluctuations or electrical outages will reinforce the deployment of generator sets.

Generator Sets Market, By Current

Superior fuel efficiency, lower capital and operational expenditure along with lower emission generation are the key defining features encouraging the DC generator sets market. Ability to offer harmonized integration with renewable solutions including solar and wind power will fuel the industry growth.

Increasing consumer awareness coupled with unreliable grid infrastructure will amplify the AC generator sets market growth. The product application is predominantly suited for residential installations owing to its operational suitability for low power ranges.

Generator Sets Market, By Fuel

Competitive fuel prices, reduced emission profile and abundant availability of natural gas on account of shale gas boom and expanding LNG infrastructure will foster the gas generator sets market share. Rigorous EPA enforcement of minimum emission standards coupled with strengthening clean fuel initiatives will further validate the product’s supremacy over its other counterparts.

Diesel generator sets in 2016, accounted for over 50 % of the global generator sets market share in terms of revenue. Favourable capital structure, fuel reliability, high efficiency and longer durability will sustain the product deployment across higher power ranges. However, increasing research and development investments to ensure compliance with the emissions norm will increase the overall manufacturing costs.

Generator Sets Market, By Phase

Polyphase is predicted to expand over 6 % by 2024. High flexibility, invariable power supply, and appreciable material efficiency are some of the distinguishing characteristics supporting the product growth. These gensets are primarily installed for larger industrial power generation and across commercial environments.

Economic viability to fulfil low power requirements across the residential applications will stiumate the demand for single-phase units. The key applications entailing these gensets primarily include single family households.

Generator Sets Market, By Power rating

The >1000 kVA power rating in 2016, accounted for over 15% of generator sets market share owing to its widespread deployment potential in the industrial sector. Burgeoning manufacturing, and infrastructure sectors will further entail the extensive installation of these units.

Ongoing expansion & upgradation of telecom infrastructure to advance high-speed data services coupled with legislative initiatives to extend internet connectivity will boost the demand for <50 kVA gensets.

Generator Sets Market, By End-Use

Industrial applications are anticipated to witness strong growth owing to rapid industrialization and population explosion in emerging economies. Escalating industrial activities including road construction, mining and railways hold strong potential for the deployment of generators.

Commercial generator sets market, in 2016 was valued over USD 4 billion. Substantial investments in power backup systems to circumvent the prohibitive costs of revenue and productivity losses caused during power interruptions. The product finds prevalent applications in sectors including chemical, petrochemicals, agriculture, automotive, telecommunication and healthcare.

Generator Sets Market, By Application

Prime power in 2016, accounted for over 50 % of generator sets market share. Sizeable investments toward infrastructural development along with rapid industrialization across the emerging economies will make its adoption preferable. The product finds extensive applications in industries including mining, ships, oil & gas operations, construction where grid supply is inaccessible.

Ability to offer long-term, permanent backup solution during unpredictable power outages along with strengthening need of reliable electricity supply will propel the backup generator sets market growth. Automatic start-up, affordable price index, operational reliability and durability are some of the key features reinforcing the product demand.

Generator Sets Market, By Region

The U.S. generator sets market size is predicted to reach over 6 billion by 2024. Unpredictable and prolonged power outages on account of severe natural disasters will augment the industry growth. The U.S. experiences frequent natural calamities primarily across the coastal states of the Gulf of Mexico including Texas, Louisiana, Alabama.

Asia Pacific generator sets market is anticipated to witness growth over 10 % owing to peak power deficits along with prolific growth in infrastructure, real estate capex, industries, telecommunication, and IT services. High economic growth followed by burgeoning construction sector will further drive product penetration to counter electricity supply demand gap in the country.

Competitive Market Share

Noticeable industry players include Generac, Kirloskar, Cummins, Briggs & Stratton, Kohler, Caterpillar, Yanmar, Ingersoll Rand, Sterling, Powerica, Manlift Group, Atlas Copco, John Deere, Mahindra Powerol, Mitsubishi, America Honda Motor and others

Price affordability, regulatory conformance, product differentiation, service & distribution network are some of the key strategic assets for an industry stakeholder to secure a competitive position in the business.

Generator Sets Industry Background

Generator Sets Market Segmentation

Generator set, also known as genset, is an electrical equipment comprising a generator, an engine and other ancillaries which produces electrical power. The product is primarily used to supply emergency power during a grid failure or to provide power in sites where grid access is unavailable.

What Information does this report contain?

Historical data coverage: 2013 to 2016; Growth Projections: 2017 to 2024.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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