Generator Sets

The generator industry is set to witness an appreciable momentum owing to growing demand for continuous & reliable power supply and increased stringency of environmental compliances toward energy efficiency. These gensets are gaining more prevalence and strategic importance to address unavoidable power deficits amongst several other alternative backup. In addition, flourishing real estate sector, increasing infrastructural investments, and surging dependency of businesses & industries on digitization and information technologies, is set to energize the business dynamics.

The generators are bifurcated into three types based on fuel, one that is powered by diesel and the other two include gas and hybrid powered systems. The ongoing innovations and stringent government norms are driving the demand for gas based generators across a wide multitude of applications. The residential, commercial and industrial are the key areas where these units are deployed over the years. The major market participants are focusing on strategic partnerships and investments in the R&D, indicating significant opportunities for the industry in the near term.

Drivers:

• Increasing intensity of weather related disasters along with growing demand for uninterrupted power supply will fuel the industry growth.
• The public and private players are extensively investing toward the development of commercial and industrial facilities, which in turn will institute a favorable business scenario.
• Burgeoning construction sector in line with ongoing expansion of data centers and telecom industry will accelerate the industry potential.
• Resurgent demand from the healthcare sector owing to the outbreak of COVID- 19 coupled with surging trend of work from home concept will foster the product penetration.
• The demand for these units from novel applications including grid support for renewables is another evolving factor strengthening the business growth.
• Increasing applicability of these units as a backup power sources during power outages across the manufacturing plants will propel the industry outlook.
• Unreliable grid infrastructure coupled with rapid population growth primarily across the developing nations will augment the business landscape.