Generator Sets Market size to exceed $64bn by 2030

Generator Sets Market size is anticipated to surpass USD 64 Billion by 2030, as reported in the latest study by Global Market Insights, Inc.
 

Global generator sets industry share will witness growth on account of flourishing real estate sector along with increasing investments for construction activities primarily across developing nations. Government-supported plans for infrastructural expansion and industrialization have led to an augmented the industry landscape. Ongoing implementation of smart city projects coupled with government initiatives to drive the digitalization will complement the business scenario.

 

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Availability of abundant natural gas resources following the avid O&G exploration projects will drive the gas based gensets industry

Gas generator sets market is anticipated to grow owing to stringent emissions regulations and ongoing boom in the exploration of unconventional gas resources. Favorable government roll out plans including green finance and carbon trading with an aim of promoting greener production is set to fuel the industry potential. Increasing consumer focus toward energy security and independency from consumption of fossil fuel will positively impact the business landscape.
 

Aging grid infrastructure followed by increasing adoption of adoption of less powerful units will boost the technology adoption

50-125 kVA power rated generator sets market will exceed USD 13 billion by 2030. Increasing power failures driven by aging grid infrastructure and intensifying natural disasters will stimulate the industry landscape. Paradigm shift toward adoption of adoption of less powerful and affordable standby power solutions on account of their economic viability and operational suitability will drive the product demand.
 

Browse key industry insights spread across 960 pages with 1,431 market data tables & 54 figures & charts from the report, “Generator Sets Market Size By Power Rating (<50 kVA, 50-125 kVA, 125-200 kVA, 200-330 kVA, 330-750 kVA, >750 kVA), By Fuel (Diesel, Gas, Hybrid), By End-Use (Residential, Commercial {Telecom, Healthcare, Data Centers, Educational Institutions, Government Centers, Hospitality, Retail Sales, Real Estate, Commercial Complex, Infrastructure), Industrial {Oil & Gas, Manufacturing, Construction, Electric Utilities, Mining, Transport & Logistics), By Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2030in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/generator-sets-market
 

Rising power failures and increasing electricity demand across remote locations will thrust the industry dynamics

The residential application segment is projected to grow at a rate of over 7% CAGR through 2030. Surging deployment of generator sets across households to cater to the emergency power supply in an event of a blackout or grid failure will stimulate the Generator Sets market size. Amplifying demand load on the main grid and increasing urgency for continuous power supply across off-grid areas are some of the instrumental factors supporting the industry statistics.
 

The COVID-19 outbreak has led the regulatory bodies and state governments to initiate full scale lockdowns which has delayed a wide array of projects infrastructural projects. However, the surging demand for robust construction activities pertaining to development of makeshift hospitals coupled with the adoption of work from home concept will continue to entail the  product adoption.
 

Expansion of the data center industry will propel the Europe generator sets market forecasts

Europe generator sets market trend is estimated to witness an upsurge on account of robust development of data centers and continued growth in cloud computing. For instance, Amazon recently constructed a new data center in Frankfurt to obey with stringent German data privacy laws. Elevating economic development along with growing urbanization and surging population count has resulted in additional opportunities for the market. The region is also witnessing increasing foreign investments and growth ventures to support the regional industrialization, which in turn will further boost the regional market statistics.
 

Eminent market players operating across generator sets market includes Kirloskar Oil Engines, Cummins, Kohler Co., Briggs & Stratton, Yamaha Motor, Generac Power Systems, Powerica, Sterling & Wilson, Escorts, Caterpillar, HIMOINSA, Trane Technologies, Atlas Copco, Mahindra Powerol, JCB, C&S Electric, Deere & Company, MTU Onsite Energy, Ashok Leyland, Greaves Cotton, Mitsubishi Heavy Industries, Wärtsilä, Honda Motors and Siemens.

 

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