Insights on the Genset Market to 2019 - Advancements in Supply Chain Management, Industry Presents Opportunities, Business Strategy By 2026 | Caterpillar, Wartsila, Siemens, General Electric

Genset Market Snapshot:

The global genset market was valued at USD 18.03 billion in 2018 and is expected to reach a value of USD 28.85 billion by 2026.

A genset is a device that transforms mechanical energy into electrical energy for various purposes. It comprises an engine and an alternator, which are coupled and embedded on a base with other components. The other components of a genset include batteries, fuel tank, control board, and programmed transfer switch. Gensets are cost-effective equipment with high efficiency and reliability in operation. Gensets can be operate through different remotely programmed such as SCADA systems, which is used to monitor and control equipment in industrial process. Gensets are extensively used in the commercial sphere, such as in the construction of roads, metro rails, and railways. In the railway sector, gensets are installed to power air conditioners.  

The primary drivers of the global genset market include the growing demand for uninterrupted and reliable power supply and the burgeoning demand for hybrid diesel gensets. Diesel generators are extensively employed in the oil and gas industry. For instance, oil and gas fields in Nigeria have the highest number of diesel gensets. According to industry experts, the demand for electricity in Nigeria was over 40,000 MW whereas the energy produced oscillated near the 7,000 MW–8,000 MW mark.

The gensets players are focusing to supply more gensets to data centers as it requires much electricity as a small town. These data center require multiple 750kVA and above gensets. According to Internet and Mobile Association of India, the Indian datacenter market displays promising growth over the forecast period owing to increased usage of data through smartphones, e-commerce platforms, social networking platforms, and government projects. It is expected that India will holds second-largest market for datacenters in the Asia Pacific region by 2020, with an investment reaching to USD 7 billion, which is 4.5% of global investments.

Asia-Pacific is gaining substantial attention in the market due to the increasing instances of power outage and the prompt need for uninterrupted power supply in industrial and commercial sectors. Governments of emerging nations in the region are taking the lead to facilitate clean energy and develop infrastructure for gas pipelines. According to the International Renewable Energy Agency, Asia-Pacific generates 85% of its energy from fossil fuels.

North America is witnessing massive demand for generators, owing to the increasing vulnerability and declining resilience of regional grid infrastructure against weather-related disasters. The strong presence of key players such as Caterpillar, Wartsila, Siemens, General Electric, ABB Ltd, and PARAMAC, among others creates ample opportunities for the genset market.

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The Major Prominent Players Covered in this Report:
Caterpillar, Wartsila, Siemens, General Electric, ABB Ltd, PARAMAC, Generac Holdings Inc., Cummins, Kohler Co., MTU Onsite Energy, Mitsubishi Heavy Industries, Kirloskar Electric Company, Yanmar Co. Ltd., and Himoinsa S.L., among others.

By Power Rating, Up to 100 kVA,100–350 kVA,350–1000 kVA,Above 1000 kVA
By Fuel Type,Diesel, Natural Gas, Propane
By Application, Stand
By Power, Peak Shaving, Prime/Continuous Power
By End User, Industrial, Commercial, Residential

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Genset in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Genset market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Genset and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Genset. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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Key Questions Answered in The Report:
What will the Genset market growth rate?
What are the key factors driving the global Genset market?
Who are the key manufacturers in the Genset market space?
What are the market opportunities, market risk, and market overview of the Genset market?
What are sales, revenue, and price analysis of top manufacturers of the Genset market?
Who are the distributors, traders, and dealers of the Genset market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Genset Industry?
What are sales, revenue, and price analysis by regions of Genset industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

Key Genset Market Trends:
- The report identifies, determines, and forecasts the Global Genset Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Genset Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Genset Market.

Key Insights:
Attributing to stringent environmental regulations, key players in the market are continuously working to develop new products that mitigate emission; for instance, Inmesol, a manufacturer of eco-friendly generators sets, is designing highly-efficient gensets that will reduce gas emissions
Cummins India, a manufacturer of diesel and natural gas engines for power generation and other applications, has developed a series of gensets that are compliant with the new environmental norms (CPCB II) to be implemented by the Central Pollution Control Board in India

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This release was published on openPR.