Commercial Standby Gensets Market size to exceed $7bn by 2030
Published Date: December 2, 2019 Authors: Ankit Gupta, Asmita Semwal
Commercial Standby Gensets Market is expected to surpass USD 7 Billion by 2030, as reported in the latest study by Global Market Insights, Inc.
Commercial Standby Generator Sets market demand is anticipated to witness strong growth owing to rising demand for alternative energy source in case of an emergency. Increasing frequency and severity of weather-related calamities leading to prolonged power outages accompanied by rising significance of emergency preparedness solutions will positively impact the industry scenario. In addition, upsurge in demand from data centers led by increased constant data usage through social networking, e-commerce platforms and government projects is set to drive the product adoption. Heavy reliance on constant communication, information sharing along with rising costs of unplanned outages will complement the business landscape. Moreover, rising awareness toward environment sustainability coupled with introduction of stringent government directives with an aim to limit carbon emissions is projected to boost the product installation.
Rising demand for continuous and uninterrupted power supply fueling the commercial standby generator sets industry growth
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>750 kVA gensets will witness appreciable growth on account of the surging demand from data centers along with increasing reliance on electrical equipment to sustain every day operations. Growing dependency of businesses on information technologies and digitization, which demand the continuous & uninterrupted power supply will further propel the business landscape. Moreover, rising severity & frequency of weather catastrophes is anticipated to strengthen the product adoption. Natural disasters including hurricanes, wind-storms, floods, tsunamis, and earthquakes can annihilate the critical power infrastructure and result in outages leaving expansive geographic areas without power for considerable time periods. In addition, elevating costs of data centers outages & downtimes will drive the wide-scale commercialization and product installation.
Browse key industry insights spread across 460 pages with 720 market data tables & 36 figures & charts from the report, “Commercial Standby Gensets Market Share By Power Rating (<75 kVA, 75-375 kVA, 375-750 kVA, >750 kVA), By Fuel (Diesel, Natural Gas, Others), By Application (Telecom, Healthcare, Data Centers, Educational Institutions, Government Centers, Hospitality, Retail Sales, Agriculture, Aquaculture), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2030”in detail along with the table of contents:
Cost efficiency and easy availability of diesel gensets driving the market growth
High flexibility, reliable performance, scalability and elongated engine lifespan are a few of the underlying parameters sustaining the demand for diesel gensets. Cost efficiency, quick response, reliability, simplicity of operations and round the clock energy availability are the prime factors leading to an increasing demand from commercial application including telecom, educational institutions, healthcare and hospitality. These systems are facing challenges owing to growing access to natural gas fueled units and developing hybrid technologies that are favored by strict emissions standards & environmental regulations. However, constant yet amplifying demand for rising generation capacities to cater growing power demands has sustained the use of these products.
Increasing frequency and intensity of severe weather set to drive North America market size
North America commercial standby gensets market outlook is anticipated to grow on account of increasing frequency of natural disasters and growing vulnerability & declining flexibility of the regional grid infrastructure. Severe natural disruptions including the Hurricane Irma & Hurricane Harvey will continue to drive the product installation. Hurricane Maria (a Category 4 storm) hit hard Puerto Rico vandalizing nearly 80% of the island’s power transmission lines in September 2017. The storm resulted into longest outage in the U.S. history leaving more than 1.57 million power consumers without electricity. Therefore, similar historic occurrences will substantially amplify the region’s reliance on generators as a preparedness measure for future extreme weather conditions. Moreover, rising costs of data center outages along with increasing consumer awareness and focus toward reliable backup electricity solutions will complement the business scenario.
Eminent players operating across commercial standby gensets market comprise of Kirloskar, Cummins, Briggs & Stratton, Yamaha, Generac, Himoinsa, Ingersoll-Rand, Caterpillar, Atlas Copco, Mahindra Powerol, JCB, MTU, Ashok Leyland, John Deere, Wärtsilä and Mitsubishi amongst others. Ongoing technological innovations along with mergers & acquisitions are few significant initiatives undertaken by key market players to sustain a competitive edge over other participants.
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