Industrial Gensets Market size worth over $13bn by 2025
Published Date: May 30, 2019 Authors: Ankit Gupta, Niharika Singh
Global Industrial Gensets Market size will surpass USD 13 Billion by 2025, as reported in the latest study by Global Market Insights, Inc.
Growing investments toward infrastructure development along with expanding manufacturing base will simulate the global industrial gensets market size. Industries including automotive, pharmaceuticals, mining, Oil & Gas, construction and others hold an extensive deployment potential for these gensets. The proliferating infrastructural development and industrialization across the emerging economies will boost the product demand.
The U.S. industrial gensets market size is set to exceed USD 1.4 billion by 2025. Deteriorating resilience of the U.S. electric infrastructure to large-scale power outages triggered cascading power failures, cyber-attacks, and severe weather conditions will continue to necessitate the increased deployment of these units. Additionally, the dual trends of increased demand for the reliable electricity supply and prolonged underinvestment in T&D infrastructure will boost the deployment of these products.
Get more details on this report - Request Free Sample PDF
Mining applications accounted for over 8% of the global industrial generator sets in terms of annual shipments. Growing investments in infrastructure development coupled with pro-mining legislation will stimulate the deployment of these gensets across the sector. For instance, the recent Executive Order from the U.S. Interior Department aims at promoting increased domestic mining through improved permitting processes. These gensets are being increasingly operated for to power heavy duty equipment including excavating machinery, conveyor belts, drillers and cranes for diverse mining operations.
European market size is set to expand over 5% by 2025. Resurgent growth in the regional manufacturing sector, most notably across the automotive production industries along with rising infrastructure investments will drive the industry size. Moreover, industrial investments are also poised to gain momentum across the UK after the negotiations of Brexit trade tariffs with the EU. In addition, progressing construction activities across the Eastern Europe and the Nordic region will also contribute to the industry revival.
75-375 kVA gensets market is anticipated to expand over 7% by 2025. The industry growth can be attributed to rising infrastructure investments coupled with booming construction sector. These units are vital for supplying power to work sites where grid supply is unavailable and are essential for restoration of services after the occurrence of natural disasters. Upcoming mega events, most notably the Qatar FIFA World Cup 2022 and Dubai World Expo 2020 will demand the heavy deployment of these units to support the robust construction activities.
Browse key industry insights spread across 540 pages with 909 market data tables & 38 figures & charts from the report, “Global Industrial Generator Sets Market Size By Power Rating (<75 kVA, 75-375 kVA, 375-750 kVA, >750 kVA), By End-Use (Oil & Gas, Manufacturing, Construction, Electric Utilities, Mining, Transport & Logistics), By Application (Standby, Peak Shaving, Prime/Continuous), By Fuel (Diesel, Gas, Others) Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019– 2025” in detail along with the table of contents:
Natural gas industrial gensets market size is predicted to grow over 8% by 2025. Increasingly stringent environmental compliances along with growing focus on cleaner sources & energy efficiency will stimulate the industry size. Additionally, growing availability of natural gas favored by an expanding LNG infrastructure coupled with shale gas revolution will accelerate the industry growth.
Standby industrial gensets market is set to witness appreciable growth on account of rising demand for consistent power supply along with elevating costs associated with power interruptions across industrial establishments. Unexpected power interruptions on account of grid failures or weather-related outages can translate into significant revenue losses due to equipment failures, inventory loss, or delays in scheduled deliveries.
Notable industry players operating in the global industrial gensets market include Generac, Cummins, SDMO, Kirloskar Oil Engines Limited (KOEL), Briggs & Stratton, Mahindra Powerol, Himoinsa, Caterpillar, MTU Onsite amongst others.
Global industrial generator sets market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2014 to 2025, for the following segments:
Global Industrial Gensets Market, By Power Rating
- <75 kVA
- 75-375 kVA
- 375-750 kVA
- >750 kVA
Global Industrial Gensets Market, By End Use
- Oil& Gas
- Electric Utilities
- Transport & Logistics
Global Industrial Gensets Market, By Application
- Peak Shaving
- Prime Power
Global Industrial Gensets Market, By Fuel
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Middle East
- Saudi Arabia
- South Africa
- Latin America
Explore More on Related Topics: