Press release
Generator Sets Market a Comprehensive Analysis | Key Players - Kirloskar, Generac, Briggs & Stratton, Kohler, Cummins, Caterpillar, Yanmar, Sterling, Manlift Group, Mitsubishi, Mahindra Powerol, America Honda Motors amongst others
Generator Sets Market
The U.S. generator sets market is predicted to expand over 4% on account of significant recurrences of environmental hazards resulting in continued outages. Hurricane Maria, tenth-most intense Atlantic hurricane in 2017 destroyed around 80% of the power transmission lines in Puerto Rico. The tropical cyclone resulted to the longest forced electricity outage in the history of U.S. leaving over 1.57 million electricity consumers without power.
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Sizeable government funding towards backup power generation for supporting load shedding incurred during peak hours and lessen the risks of blackouts will augment the generator sets market growth. The Government of Australia, in 2017, introduced new energy plan of approximately USD 550 million for bringing the temporary power generators online with an aim to strengthen country’s power reliability.
Steady increase in data center outages cost along with rising reliance on digitization will significantly boost the product penetration. As per the Ponemon Institute, the average outage cost for data center has increased by more than 38% to USD 740 thousand in 2015 from USD 505 thousand in 2010. The burgeoning growth of the data centers industry will significantly expand in the generator sets market.
Gas generator sets market is set to witness growth of over 9% by 2024. The increasing utilization of natural gas as an alternative source to reduce fossil fuels consumption including gasoline and diesel will substantially enhance the product penetration.
Polyphase generator sets market is anticipated to witness substantial growth on account of its suitability of operational in wide ranging applications. The product is primarily deployed across industrial and commercial sectors owing to its high flexibility, ability to support high power needs, and material efficiency.
The ongoing installation of gensets in the industrial premises as a main power generation source will stimulate the generator sets market growth. The product has witnessed extensive industry penetration across mining, construction and oil & gas sector having limited grid access. Growing investments toward infrastructure development coupled with rapid industrialization will fuel the business outlook.
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Rapid population growth coupled with poor transmission & distribution network and high electricity costs across developing nations will positively influence the generator sets market Rising energy consumption along with insufficient installed capacity will further embellish the business outlook.
Eminent participants in the industry include Mahindra Powerol, Kirloskar, Cummins, Generac, Kohler, Caterpillar, Briggs & Stratton, Yanmar, Sterling, Mitsubishi, John Deere, and America Honda Motor.
Report Content
Chapter 1 Methodology & Scope
1.1 Methodology
1.2 Market definitions
1.3 Market estimation and forecast parameters
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Generator sets market 3600 synopsis, 2013 – 2024
2.1.1 Business trends
2.1.2 Current trends
2.1.3 Fuel trends
2.1.4 Power rating trends
2.1.5 Application trends
2.1.6 End-use trends
2.1.7 Region trends
Chapter 3 Generator Sets Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024 (USD Million)
3.3 Industry ecosystem analysis
3.3.1 Vendor Matrix
3.4 Regulatory landscape
3.4.1 Europe
3.4.2 U.S.
3.4.3 India
3.4.4 China
3.4.5 South Africa
About Global Market Insights
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