Global Generator Sets Market Value to Increase Significantly Over 2021-2030

November 17, 2021

According to the research report titled ‘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, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2021 - 2030 available with MarketStudyReport, global generator sets market is expected to amass significant gains over 2021-2030.

Global generator sets market growth is mainly driven by increasing power outages and rising consumer awareness of the product. Improving availability of eco-friendly and fuel-efficient generators is projected to further boost the industry development in the approaching years.

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Based on power ratings, <50 kVA segment is predicted to grow substantially over the coming years, creditable to escalating demand for small and low power generator sets. Meanwhile, 330-750 kVA segment is expected to accrue considerable revenue over 2021-2030, owing to a boom in construction sector in line with increasing infrastructure development activities.

As per fuel type, hybrid segment is anticipated to exceed a valuation of USD 5.5 billion by 2030, as hybrid generator sets are eco-friendly, compact, and consume low fuel.

With respect to end use scope, under the commercial sector, educational sub-segment is projected to significantly contribute to the expansion of worldwide generator sets industry size over the assessment period, attributable to ongoing development of schools and universities.

Meanwhile, the hospitality segment is predicted to witness noteworthy growth over the same duration, due to rising end user cognizance, increasing instances of power outages, and surging demand load.

Under the industrial sector, manufacturing segment is likely to record a robust CAGR in the forthcoming years, creditable to increasing industry automation, fueled by growing acceptance of work from home culture.

The transportation & logistics segment is projected to exhibit 7% CAGR over 2021-2030, owing to increasing usage of generator sets in the sector, especially for overseas shipping or temperature-sensitive cargo.

Geographically, Africa generator sets industry share is poised to increase significantly over the forecast period, due to inflating population and inadequacy of utility grids to cater to the same.

On the other hand, Latin America industry is expected to register an appreciable CAGR throughout the analysis period, attributable to escalating electricity demand and rapid economic development in the region.

Speaking of competitive landscape, Caterpillar Inc., Himoinsa, Sterling & Wilson Pvt. Ltd., Escorts Ltd., Powerica Ltd., Yamaha Motor Co. Ltd., Generac Power Systems Inc., Kohler Co., and Briggs & Stratton Corporation are among the other key players impacting the market trends.

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