Commercial Gensets Market to Exceed USD 8 Billion By 2026
Published Date: September 23, 2020 Authors: Ankit Gupta, Asmita Semwal
Commercial Gensets Market is expected to surpass USD 8 billion by 2026, as reported in the latest study by Global Market Insights, Inc.
Commercial Gensets Market will grow substantially on account of rising weather unpredictability and frequent natural disasters leading to increasing power outages. Increased stringency of environmental compliances, cost reduction, energy efficiency, and focus on cleaner fuel sources are amongst the most instrumental trends that will shape the market growth. Therefore, prominent manufacturers are striving to introduce hybrid fuel gensets offering flexibility, better aesthetics and designs.
Growing demand for continuous & reliable power supply will stimulate the <75 kVA rating installation
<75 kVA commercial gensets will grow owing to increasing power failure, rising frequency of natural disasters and aging grid infrastructure. Ongoing consumer swing toward smaller & less powerful units on account of their economic viability & operational suitability will strengthen the market scenario. Moreover, growing consumer propensity & awareness toward reliable and affordable power solutions is set to drive the commercial genset market growth.
Rising emphasis on sustainability followed by introduction of strict government norms will encourage the commercial gensets adoption
Growing consumer awareness toward emission level coupled with reduced consumption of fossil fuel on account of introduction of strict emission laws enforced by the government will stimulate the natural gas commercial genset market value. Lack of LNG infrastructure and dominance of diesel gensets specifically by developing nations may challenge the commercial gensets demand. However, accelerating inclination to exploit unconventional resources by many nations is set to complement the commercial gensets industry scenario.
Ongoing R&D and technological advancement in the market will fuel the demand from telecom and data centers
Datacenters are expected to witness growth owing to increasing focus on development of commercial centers in line with robust technical upgradation. Heightened power interruptions and voltage fluctuations will affect the power outages cost which will be counterbalanced by the commercial gensets. Moreover, shifting trends toward advancement of digitalization along with advent of monitoring & control systems for enhanced usage will drive the commercial gensets market share.
Focus toward improved rates of electrification will drive the prime commercial gensets demand
Developing nations are targeting to achieve dynamically reduced rates of electrification that will influence the prime power commercial gensets deployment. Moreover, rising demand from the underdeveloped region in Africa which face power cuts majorly during working hours will complement the commercial gensets market landscape.
Browse key industry insights spread across 560 pages with 910 market data tables & 47 figures & charts from the report, “Commercial Gensets Market By Power Rating (<75 kVA, 75-375 kVA, 375-750 kVA, >750 kVA), By Fuel (Diesel, Gas, Hybrid), By End-Use (Telecom, Healthcare, Data Centers, Educational Institutions, Government Centers, Hospitality, Retail Sales, Agriculture, Aquaculture), By Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020– 2026” in detail along with the table of contents:
Robust growth in tourism sector across developing nations will boost the commercial gensets installation across Asia Pacific
In Asia Pacific, Indonesia, and Thailand are anticipated to witness growth as a result of rapid development taking place in hospitality application in order to meet the increasing tourism sector. The rising consumer awareness against emergency situations coupled with escalating investments and continuous government initiatives for establishments of commercial spaces will stimulate the industry outlook. Moreover, the prominent players are offering gensets with compact & aesthetic design and longer lifespan with an aim to sustain the commercial genset market competition.
The major companies are striving on integration of technological upgradation and latest technologies to maintain their market position. Eminent player functioning across commercial gensets industry include Mitsubishi, Kirloskar Oil Engines, Cummins, Generac, Briggs & Stratton, Himoinsa, SDMO, Siemens, Escorts Group, Yamaha, Supernova Gensets, Powerica, Huu Toan, Atlas Copco, Caterpillar, John Deere, JCB, Wärtsilä, Mahindra Powerol, Ashok Leyland amongst others.