Press release
Cummins, Honda Profiled in Generator Sets Market 2024 Report - Kirloskar, Caterpillar, Briggs & Stratton, Generac, Kohler, Ingersoll Rand, Yanmar, Atlas Copco, Manlift Group, John Deere & More
Eminent industry participants in generator sets market includes Kirloskar, Caterpillar, Briggs & Stratton, Honda, Generac, Kohler, Cummins, Ingersoll Rand, Yanmar, Atlas Copco, Manlift Group, John Deere, Mitsubishi amongst others.
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The U.S. generator sets market, in 2017, was valued over USD 4 billion. Ageing electrical infrastructure coupled with worsening grid resiliency to natural disasters will enhance the industry growth. For instance, in 2017, Hurricane Irma knocked out electricity to approximately two-thirds of the power consumers of Florida. Furthermore, the insufficiency of the power grids to sustain rising demand load will further positively influence a wide-scale distribution of these units.
Increasing acceptance of power backup equipment to mitigate system interruptions, and loss of in-process data across information centers will enhance the generator sets market growth worldwide. Installation of power backup equipment has become dominant in the data center with the escalating outages cost. For instance, the Delta Airlines data center, in 2016, suffered a loss of more than USD 150 million resulting from outage occurring owing to electrical grid failure.
Generator Sets Market is predicted to reach over USD 35 billion by 2024. Inadequate power supply coupled with rising demand for consistent and continuous power will positively influence the generator sets market. The industry landscape is extensively driven owing to growing population and urbanization worldwide. Escalating frequency and intensity of weather-related calamities resulting in continued outages will further propel the product adoption.
Europe generator sets market is expected to expand over 6% by 2024. Increasing infrastructural investments coupled with improving commercial & construction activities will offer a stimulus to the industry expansion. In addition, the ongoing growth of IT infrastructure is further enhancing the significant demand across the region. For instance, recently Amazon in Frankfurt constructed a new data center to comply with strict German data protection laws.
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Gas generator sets market is set to gain over 9% by 2024. Rising implications for energy safety, concerns over conventional fuel consumption, coupled with increasing focus toward cleaner fuels will sway the business growth. Stringent emission compliances, particularly the EU Stage V limits and the Environment Protection Agency Emissions Standards will play a key role in the industry growth.
Table of Content:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Generator Sets Industry Insights
Chapter 4 Generator Sets Market, By Current
Chapter 5 Generator Sets Market, By Fuel
Chapter 6 Generator Sets Market, By Power Rating
Chapter 7 Generator Sets Market, By Application
Chapter 8 Generator Sets Market, By End-Use
Chapter 9 Generator Sets Market, By Region
Chapter 10 Company Profiles
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Scope of this Report: Mounting digitization trend in conjunction with exponential development in data center infrastructure would also propel market growth. Massive gensets deployment as a backup power source across multifarious industries comprising financial solution organizations, insurance organizations, and information technology establishments would significantly push the generator sets market share in the years forward. Undeniably, the ease these products provide through effective power backup at the time of irksome interruptions like power outages or voltage fluxes would add momentum to generator sets market.
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