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Generator Sets Market Analyzed by Business Growth, Development Factors and Future Prospects 2030
Generator Sets Market
Generator sets are the combination of fuel-driven engine with an alternator to generate electricity. The generator sets usually driven by diesel, gasoline or natural gases. Generator sets generally used in places that do not have a power grid connection or for the emergency power-supply if the grid fails.
Generator sets also used for complex applications such as grid support, peak-lopping, and export of the electricity to the power grid. Marine ships also use the generator sets to provide secondary power for winches, lights, fans among others. In addition to that, generator sets are also used for the propulsion of the ships. The generator sets are selected based on the electrical load they are projected to supply.
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Generator Sets Market: Dynamics
Generator sets market is extensively driven by the increasing need for the self-generating power to avoid the continuing power shortages. Insufficient power supply, unreliable grid infrastructure coupled with rising demand for the constant power is projected to drive the demand for generator sets over the forecast period.
In developing countries, governments are significantly investing in the development of infrastructure in the public sector such as hospitals, schools, etc. which is likely to drive the demand for the generator sets market. Increasing dependence on digitization along with the stable increase in the data centre is likely to positively influence demand for the generator sets in the upcoming year.
Many manufacturers are also offering dual-fuel generator sets, which can be operated on diesel, crude oil, and HFO gas, which will further boost the demand for generator sets.
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The generator sets are being progressively installed in various businesses such as oil & gas, construction, mining among others, where electric grid access is limited. Increasing use of the generators sets for the emergency standby in the utility grids such as hospitals, waste water plants, etc. will further boost the demand for generator sets. The rising trend towards renting generator sets or on a contract basis is anticipated to restraint the generator sets market.
Generator Sets Market: Segmentation
Based on the load capacity
Less than 350 kVA
350 - 1,000 kVA
1,000 - 2,500 kVA
2,500 - 5,000 kVA
More than 5,000 kVA
Based on the fuel type
Conventional Fuel
Natural Gas
Others (Bio-diesel, LPG, Propane)
Based on the end-use
Industrial
Oil & Gas
Construction
Marine
Commercial
Residential
Agriculture
Based on the application
Prime & Continuous
Standby
Peaks
Generator Sets Market: Regional Outlook
South and East Asia is likely to have prominent market share in generator sets market, as developing countries such as China and India are investing in construction industry and many OEMs have set up a manufacturing plant, which is expected to increase the electricity consumption and demand for the generator sets.
Presence of the well-established oil & gas industry in the Middle East & Africa is estimated to drive the demand for generator sets market. The increasing infrastructure investment in Brazil and Mexico will create considerable demand for the generator in the region.
Europe is projected to have a moderate growth given the adoption is majorly driven by construction and remote industrial operations. Increasing investment in the infrastructure will further boost the demand for generator sets market.
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Generator Sets Market: Key Market Participants
List of the key players in the generator sets market are:
Kirloskar Electric Company
FG Wilson
Cummins
Caterpillar
HIMOINSA
Rolls-Royce
YANMAR CO., LTD.
Generac Power Systems, Inc. ( Honeywell)
Zeppelin Power Systems GmbH & Co. KG
MITSUBISHI HEAVY INDUSTRIES, LTD.
"The research report on generator sets market presents a comprehensive assessment of the market and contain thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. The generator sets market report also contains projections using a suitable set of assumptions and methodologies.
The research report on generator sets market provides analysis and information according to market segments such as load capacity, fuel type, end-user and application.
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