January 21, 2020
According to the report, ‘Commercial Standby Generator Sets Market Size 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’, available at MarketStudyReport.com, the global commercial standby generator sets market is expected to register 400 thousand annual installations by the year 2030.
According to the report, increasing prevalence of severe weather conditions & calamities has led to frequent power outages which in turn is driving the commercial standby generator sets industry. Commercial standby gensets are used extensively as an alternative source of energy in agriculture and healthcare sectors as well as in data centers. Escalating investments in telecommunications sector coupled with growing demand for emergency preparation systems in commercial sector are further aiding the market expansion.
As per fuel type, diesel commercial standby generator sets market segment is expected to register substantial growth during the forecast period. Diesel gensets need minimal maintenance, have low up-front cost, and are easy to install. Growing demand for reliable and uninterrupted power in tandem with insufficient power supply are contributing towards the popularity of diesel gensets across the globe. Rapid digitalization and rising expansion of data center infrastructure are also propelling the market growth.
Moreover, hybrid and natural gas gensets segments are presumed to expand significantly due to strict government regulation pertaining to emission mitigation and environmental conservation.
In terms of power rating, the demand for gensets of more than 75 kVA units is expected to increase during the estimated timeframe. Growing demand for continuous power supply in tandem with increasing dependency of businesses on IT & digitization are fueling the segmental growth.
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Considering the geographical landscape, the report cites that North America commercial standby generator sets market is predicted to expand with a CAGR of 4% during 2019-2030. The growth is attributed to escalating investments in expansion and development of data centers. Adding to this, increasing environmental awareness along with strict federal reforms are augmenting the demand for standby gensets across North America. Rapid expansion of data centers, decreasing diesel prices, and increasing infrastructure investments are aiding the growth of the market.
Wartsila, Mitsubishi Heavy Industries, Ashok Leyland, John Deere, MTU Onsite Energy, Mahindra Powerol, JCB, C&S Electric, Atlas Copco., Ingersol-Rand PLC, Caterpillar, Himoinsa, Escorts Group, Powerica Ltd., Yamaha Motor Pvt. Ltd., Generac, SDMO Industries, Briggs & Stratton, Kirloskar Oil Engines Ltd. and Cummins are the prominent companies operating in the commercial standby generator sets industry.
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