What are the Key Drivers for Generator Sets Market? Top Players: Atlas Copco, JCB, Mahindra Powerol, John Deere, Ashok Leyland, Cummins, Kirloskar Oil Engines Limited, Briggs & Stratton, SDMO Industries, Generac

Generator Sets Market Report focuses on the major drivers and restraints for the key players. These Research Report also provides granular analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The size of Generator Sets Market was registered at USD 18 billion in the year 2018 and is anticipated to cross USD 40 billion by 2030. Between the period 2019-2030, the Generator Sets industry is expected to register a CAGR of 6%.

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Global gensets market will witness robust growth on account of increasing investments across the commercial and construction sector. Rapid urbanization and limited grid infrastructure across the underdeveloped and developing nations will favor the product deployment. For instance, as per the World Bank, in 2016, only 44% population across sub-Saharan Africa had access to electricity.

>750kVA generator sets market will witness gains over 6% by 2030. Increasing demand for uninterrupted power across SEZs and industrial facilities to effectively run the business operations will drive the technology demand. In addition, high costs associated with datacenters downtimes and outages will further favor product installation.

Gas gensets market will witness strong growth on account of growing concerns over fossil fuel consumption coupled with adoption of stringent environmental mandates aimed toward curbing emission levels. High efficiency, cost effectiveness and low emission levels are some of the prominent features favoring the deployment of these units over other available alternatives.

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Leading Key Players in Generator Sets Market are: Cummins, Kirloskar Oil Engines Limited, Briggs & Stratton, SDMO Industries, Generac, Yamaha Motor Pvt, Ltd., Powerica Ltd., Escorts Group, Sterling Generators Pvt. Ltd, Himoinsa, Caterpillar, Ingersoll-Rand PLC, Atlas Copco., C&S Electric, Supernova Gensets, JCB, Mahindra Powerol, MTU Onsite Energy, John Deere, Ashok Leyland, Greaves Cotton Limited, Mitsubishi Heavy Industries

Industrial generator sets market was valued over USD 8 billion in 2018. Inadequate grid infrastructure coupled with growing adoption of backup power to avoid inventory losses and equipment failures will drive the product demand. In addition, shifting trends toward the relocation of oil & gas activities at remote locations will further boot installation of these units over the forecast timeline.

Growth Drivers:
o North America
o Increasing intensity & frequency of weather-related disasters
o Escalating data center outage costs
o Growing demand for uninterrupted power supply
o Europe
o Emerging Trends in real estate
o Expansion of the datacenter industry
o Favorable regulatory policies to boost investment
o Asia Pacific
o Rapid industrialization & infrastructure development
o India
o Burgeoning expansion in the telecom sector
o China
o Africa
o Unreliable grid infrastructure coupled with rapid population growth

Rising consumer awareness toward power backup solution along with increasing load on grid supply will drive the standby generator sets market growth. These gensets are primarily deployed in the event of a disruption in primary power supply or the utility grid. Increasing demand for electricity coupled with growing rate of power outages will further enhance the industry landscape.

U.S. generator sets market will witness growth on account of declining resilience and increasing vulnerability of the grid infrastructure to weather related disruptions. Increasing frequency and strength of storms, mostly occurring during yearly Atlantic hurricane season, will enhance product adoption. For instance, in 2017, due to hurricane Harvey, over 10GW of power generation capacity in Texas witnessed forced outages with considerable damage to the electrical infrastructure.

Hybrid gensets market is set to witness growth over 10% by 2030. Ongoing expansion across off-grid locations along with declining costs of battery technology & renewable energy will stimulate the adoption of these systems. Furthermore, adoption of stringent environmental mandates pertaining to air pollution will enhance the product demand.

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