Press Release: March 24, 2020
Generator Sets Market is estimated to surpass $ 25.0 Billion mark in 2018 and reach USD XX Billion by 2026, at a Compound Annual Growth Rate (CAGR) of XX % during the forecast period 2018-2026 globally.
Growing demand for continuous and reliable power supply driven by inadequacy of electrical grid infrastructure will stimulate the Generator Sets Market size. The industry is primarily driven by rapid industrialization, expanding population base and rising frequency of chronic power shortages. According to the International Energy Agency (IEA), electrical grid supply is reported to be unavailable for over 540 hours per year across the sub-Saharan Africa region.Generator Sets MarketGrowing digitization accompanied by exponential expansion across the data center infrastructure will drive the generator sets market growth. Rapid deployment of gensets as a backup source of power across the financial services firms, insurance companies, and IT services will positively impact the business scenario. Ability to effectively backup power interruptions including electrical outages or voltage fluctuations will accelerate the deployment of generator sets. Growing dependency on digitization along with a steady upsurge in data center outages cost will significantly boost the gensets adoption. According to the Ponemon Institute, an average data center outage cost has dramatically increased by over 38 percent from USD 505 thousand in 2010 to USD 740 thousand in 2015. The burgeoning expansion of the data centers sector is invariably accompanied by significant growth in the global market. The ongoing deployment of gensets across the industrial sector as a source of prime power generation will fuel the industry growth. These units are being increasingly installed in multiple industries including mining, oil & gas, a construction where grid access is limited. Rapid industrialization along with increasing investments toward infrastructural development will propel the global market.
DC generators sets market is predicted to expand over 6% by 2024. Simple design and construction, optimum fuel efficiency, and ease of parallel operation are some of the defining features supporting the industry growth. Operational ability to provide integrated power solutions with renewables including wind and solar power will further boost the product penetration.
North America Generator Sets Market accounted for the highest revenue in 2017 and is projected to grow at a significant rate during the forecast period. U.S. generator sets market, in 2017 was valued over USD 4 billion. Increasing severity and frequency of weather-related disasters have significantly necessitated the adoption of generator sets across the country. For instance, in September 2017, Hurricane Maria, a Category 4 storm hit hard Puerto Rico leaving over 1.57 million electricity customers without power. As per the Edison Electric Institute, weather-related events account for over 70 percent of power outages in the U.S.
Maximize Market Research has comprehensively analyzed Generator Sets Market emphasising on each segment keeping global and regional dynamics in perspective. The driving forces, as well as considerable restraints, have been explained in depth to attain a balanced scenario. The report classifies Global Generator Sets Market into various segments such as Current, Fuel, Power Rating, Application, End-Use and Regions providing the thorough understanding of the Generator Sets Ecosystem. Importantly, the report delivers forecasts of the market, giving an insight into the future opportunities that exist in the Global Generator Sets Market.
The objective of the report is to present comprehensive Generator Sets Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Generator Sets Market North America for Asia Pacific dynamics, structure by analyzing the market segments, and project the Generator Sets Market North America for Asia Pacific size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Generator Sets Market North America for Asia Pacific make the report investor’s guide.
The scope of the Generator Sets Market:
Generator Sets Market By Current:
AC (Single Phase, Poly Phase)
Generator Sets Market By Fuel:
Generator Sets Market By Power Rating:
Generator Sets Market By Application:
Generator Sets Market By End-Use:
Generator Sets Market By Geography:
Middle East &
Africa and Latin America
Key Players of the Generator Sets Market
AKSA Power Generation
Generac Power Systems
General Electric Corporation
Honda Power Equipment
Kirloskar Oil Engines Limited
America Honda Motors
Success Stories: Key Industry Players:
Briggs & Stratton Corporation
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