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Standby Generator Sets Market Trends

Report ID: GMI5967
Published Date: Jun 2023
Report Format: PDF

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Standby Generator Sets Industry Trends

The market for standby generator sets will witness a significant growth owing to rapid industrialization and flourishing commercial sector. The growing urbanization and population index along with surging need for uninterrupted power supply will foster the demand for these generator sets. Furthermore, the increasing investments in residential infrastructure expansion, coupled with frequent power failures will fuel the industry growth.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of standby generator sets market size was USD 23.8 billion in 2023 and is projected to grow at 7.2% CAGR during 2024 to 2032, explains GMI report.

Gas standby generator sets industry size will witness more than 7.9% growth till 2032 owing to the increasing focus on cleaner and more sustainable energy sources.

North America industry crossed a valuation of USD 3.9 billion in 2022 attributed to the extreme weather events, aging power infrastructure, and the need for uninterrupted power supply in critical sectors.

Cummins, Inc., Kirloskar, Kohler Co., Mahindra Powerol, Generac Power Systems, Inc., Yamaha Motor, Powerica, Escorts Group, Himoinsa, J C Bamford Excavators, Rolls-Royce plc, Caterpillar, Ashok Leyland, Wärtsilä, Eaton, Gillette Generators and HIPOWER.