Press release
Industrial Generator Sets Market Poised for Healthy Recovery As COVID-19 Pandemic Recedes
Industrial Generator Sets
Industrial generator sets are used for power generation through a combination of an engine (driver) and an alternator (driven). Major factors that affect the performance of industrial generator sets include the material of construction, size or capacity, design mechanism, operating speed, type of fuel, type of cooling, and operating mechanism. Rise in demand for reliable and uninterrupted power supply due to development of industrial real-estate, increase in manufacturing of goods, and rapid industrialization is expected to drive the demand for industrial generator sets during the forecast period.
Key Drivers and Opportunities of Global Industrial Generator Sets Market
Industrial generator sets have been gaining popularity for the last few years due to the various advantages offered such as long maintenance interval, low temperature starting capacity, high power density, etc. Industrial generator sets are efficient and simple, as they consume less fuel due to the development of a common rail injection engine, which consumes less fuel and generates less noise. Increase in industrial applications and rise in construction activities are expected to drive the global industrial generator sets market during the forecast period.
Manufacturers are developing new generator sets that fuel-efficient and generate less sound. Manufacturers are also emphasizing on the manufacture of generator sets that offer optimum performance, reliability, and versatility for stationary standby and prime power applications that require less space. Furthermore, key manufacturers are engaged in the design and manufacture of support back-up and prime power generators, ranging from 2 kilowatts to 3.5 megawatts, as well as controls, paralleling systems, and transfer switches for applications, such as consumer, commercial, industrial, data centers, and wastewater treatment plants. These factors are expected to drive the industrial generator sets market during the forecast period.
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North America to Hold Major Share of Global Industrial Generator Sets Market
In terms of region, the global industrial generator sets market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
The market in North American is projected to expand at a significant growth rate due to the expansion of the food service industry, coupled with a steady rise in the number of tourist arrivals in the region
Furthermore, the market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to a rise in the demand for industrial generator sets and product innovation and launches in the region
Key Players Operating in Global Industrial Generator Sets Market
Atlas Copco
Briggs & Stratton Corporation
C&S Electric Limited
Caterpillar Inc.
Cummins Inc.
Deere & Company
Generac Holdings Inc.
Ingersoll Rand plc.
J.C. Bamford Excavators Limited
Mitsubishi Heavy Industries, Ltd.
Global Industrial Generator Sets Market: Research Scope
Global Industrial Generator Sets Market, by Power Rating
Less than 75 kVA
75 to 375 kVA
375 to 750 kVA
More than 750 kVA
Global Industrial Generator Sets Market, by Fuel Type
Diesel
Gas
Others (Hybrid, etc.)
Global Industrial Generator Sets Market, by End-use Industry
Oil & Gas
Manufacturing
Construction
Electric Utilities
Mining
Transport & Logistics
Others (Health care, etc.)
Global Industrial Generator Sets Market, by Price
Low
Medium
High
Global Industrial Generator Sets Market, by Distribution Channel
Direct
Indirect
Global Industrial Generator Sets Market, by Region
North America
U.S.
Canada
Mexico
Rest of North America
Europe
Germany
France
U.K.
Italy
Spain
Russia & CIS
Rest of Europe
Asia Pacific
China
Japan
India
ASEAN
Rest of Asia Pacific
South America
Brazil
Chile
Rest of South America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
Customer Experience Maps
Insights and Tools based on data-driven research
Actionable Results to meet all the business priorities
Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
North America
Asia Pacific
Europe
Latin America
The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
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