The global market for generator sets is projected to have a considerable CAGR of around 6.5% during the forecast period. Generator sets are equipped with an internal combustion engine. Depending on the needs and the type of fuel available, one can choose between a gasoline, diesel, or gas engine. Generator sets can add an extra layer of security in the event of brownouts or power outages and can provide a self-contained power supply in remote places off the power grid. Datacenter firms have become one of the largest consumers of electricity as a result of the widespread adoption of digital technologies. Given that data centers require billions of kilowatt-hours of electricity each year, they recommend using a generator as an emergency power source. Further, in the coming years, there will be greater demand for generator sets that can start up rapidly without disrupting surgeries, laboratories, or bench testing. As a result, hospitals have emerged as a significant end market for generator sets.
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Segmental Outlook
The global generator sets market is segmented based on capacity, fuel type, and application. Based on the capacity, the market is further classified into below 75 kVA, 75-350 kVA, and above 350 kVA. Based on fuel type, the market is further segmented into gas, diesel, and others. Further, based on the application the market is classified into standby backup power, prime/continuous power, and peak shaving power.
by Capacity (Below 75 kVA, 75-350 kVA, and Above 350 kVA),
By Fuel Type (Gas, Diesel, and Others)
By Application (Standby Backup Power, Prime/Continuous Power, and Peak Shaving Power)
Market Players Outlook
The key players in the generator sets market contribute significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market include Cummins Inc, Generac Holdings Inc, Wartsila Corporation, Caterpillar Inc, Kohler Co. among others. These market players adopt various strategies such as product launches, partnerships, collaborations, mergers, and acquisitions to sustain a strong position in the market. In August 2020, Caterpillar Inc. announced that it has received Stationary Emergency Certification from the United States Environmental Protection Agency (EPA) for a natural gas-fueled generator set rated at 500 kW for 60 Hz markets. Caterpillar Inc. produces and builds a variety of engines and generators, including diesel and gas generators.
The Report Covers
Market value data analysis of 2022 and forecast to 2028.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global generator sets market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where in the market.
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