Generator Sets Market Projection By Technology, Top Key Players, Demand Forecast Till - 2031

Generator Sets Market 2022

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.

Additionally, complicated applications like grid support, peak-loping, and exporting electricity to the power grid make use of generator sets. The generator sets are also used by marine ships to provide backup power for things like fans, lights, and winches. In addition, the propulsion of the ships is also accomplished by generator sets. Based on the electrical demand they are expected to serve, the generator

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Generator Sets Market: Dynamics

The market for generator sets is heavily influenced by the growing demand for self-generating energy to prevent ongoing power outages. Over the forecast period, there is expected to be a rise in demand for consistent electricity due to inadequate power supply, unreliable grid infrastructure, and other factors.

Governments in developing nations are making considerable investments in the construction of public infrastructure, including hospitals, schools, and other facilities, which is projected to increase demand for generator sets. The steady growth in data centres and growing dependence on digitization are likely to have a positive impact on demand for generator sets in the coming year.

Additionally, many manufacturers provide dual-fuel generator sets that can run on diesel, crude oil, and HFO.

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.

Key Players- 

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.

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Generator Sets Market: Segments

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

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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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