According to the research report titled ‘Global Generator Sets Market Size By Power Rating (<75 kVA, 75-375 kVA, 375-750 kVA, >750 kVA), By Fuel (Diesel, Gas, Hybrid), By End-Use (Residential, Commercial {Telecom, Healthcare, Data Centers, Educational Institutions, Government Centers, Hospitality, Retail Sales, Agriculture, Aquaculture), Industrial {Oil & Gas, Manufacturing, Construction, Electric Utilities, Mining, Transport & Logistics), By Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Regional Analysis (U.S., Canada, Russia, UK, Germany, France, Spain, Austria, Italy, China, Australia, India, Japan, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Philippines, Saudi Arabia, UAE, Qatar, Turkey, Iran, Oman, Egypt, Nigeria, Algeria, South Africa, Angola, Kenya, Mozambique, Brazil, Mexico, Argentina, Chile), Application Potential, Price Trend, Competitive Market Share & Forecast, 2019- 2030’, available with Market Study Report, the global generator sets market is expected to cross USD 40 billion by the year 2030.
 

According to the report, rising prevalence of extreme weather conditions has increased power outages which in turn is driving the generator sets market growth. Gensets are extensively used in equipment manufacturing, construction, oil & gas, and mining industries. Escalating investments in construction and commercial sector, rapid urbanization, and inadequate grid infrastructure are promoting the installation of gensets across the world.
 

In terms of power rating, the demand for generator sets having rating of more than 750 kVa is presumed to increase during the estimated timeframe. Growing demand for continuous power supply in industrial and SEZs facilities for incessant business operations are fueling the segmental growth.
 

As per fuel type, gas generator sets segment is expected to register substantial growth during the forecast period. Gas generators offer low emission levels, cost effectiveness, and high efficiency. Strict government reforms pertaining to emission mitigation and rising concerns regarding fossil fuel consumption are contributing towards the popularity of gas generator sets across the world.
 

On the other hand, hybrid generator sets market segment is predicted to grow with 10% CAGR during 2019-2030. Rapid expansion of off-grid locations coupled with deflating costs of renewable energy and battery technology are boosting the segmental growth.
 

Citing the end-use fragmentation, industrial generator sets market segment was worth USD 8 billion in the year 2018. Rising adoption of backup power along with insufficient grid infrastructure are fueling the product demand across industrial sector.
 

Based on application spectrum, the report cites that standby generator sets market segment is poised to amass commendable gains in the ensuing years, primarily due to increasing awareness pertaining to power backup solutions. Burgeoning load on grid supply has led to rising installations of standby generator sets across the globe.
 

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As per the regional analysis, the U.S. generator sets industry is presumed to expand significantly during the estimated timeframe. Factors such as rising prevalence of harsh climatic conditions, increasing vulnerability and declining resilience of grid networks are augmenting the demand for generator sets across the country.
 

The prominent companies operating in the generator sets market are Wartsila, Mitsubishi Heavy Industries, Greaves Cotton Ltd., Ashok Leyland, John Deere, MTU Onsite Energy, Mahindra Powerol, JCB, Supernova Gensets, C&S Electric, Atlas Copco, Ingersoll-Rand PLC, Caterpillar, Himoinsa, Sterling Generators Pvt. Ltd., Escorts Group, Powerica Ltd., Yamaha Motor Pvt. Ltd., Generac, SDMO Industries, Briggs & Stratton, Kirloskar Oil Engines Ltd., and Cummins.