Global Genset Market Research Report- Forecast to 2022
Genset Market Size, Industry Share, Demand, Share, . Growth Analysis Research Report 2022
Page|1
Copyright Š 2018 Market Research Future.
Global Genset Market Research Report- Forecast to 2022
1 Summary The global genset market is a very dynamic market and is expected to witness high growth over the forecast period. The increased application of generator sets across various sectors is majorly influenced by the growing demand for uninterrupted & reliable power supply. Also, the increasing number of power outages and power failure in the developing and underdeveloped countries across the world is creating a huge demand for power backup devices, which is catered through generator sets. As per the study conducted by Market Research Future, the global market for generator sets is likely to grow at the CAGR of around 5.5%.
Key Players: Some of the key players In the Genset market are MTU Onsite Energy (Germany), Caterpillar Inc. (U.S.), Himoinsa S.L. (Spain), Mitsubishi Heavy Industries, Ltd. (France), MTU Onsite Energy (Germany) among others.
2 Market Overview The demand for energy and power has been increasing rapidly in recent times. Although there are several already existing power grid project and many power grid projects underway across the globe, they are bound to go through malfunction at a point, thus generators play an essential role when energy supply is concerned. Generators act as a backup to a form of power failure to any industry, grid or construction site. Increasing demand for continuous flow of power is set to boost the demand in the Genset market.
Page|2
Copyright Š 2018 Market Research Future.
Global Genset Market Research Report- Forecast to 2022
Industry News : In May, 2017 – Caterpillar introduced its all new CAT RP12000 E portable generators in U.S. and Canada. The new generator fills out the top of the series, delivering 12kW of running power and new features to meet the specific needs of the “pro-sumer” – emergency home back-up, DIY enthusiasts and contractors.
In July, 2017 – HIMOINSA opens a new factory for Argentina and southern cone, located in Located in Santa Fe and occupying some 12,000 square metres, the new centre has the capacity to produce 3,000 generator sets of between 8kVA and 1745kVA each year.
In January, 2017 – APR Energy, a global leader in fast-track power solutions, and GE (NYSE: GE) announced that they have renewed their strategic alliance to provide mobile turbine technology into the fast-track power rental market.
In October, 2017 – Cummins, Inc. (NYSE: CMI) announced the new C125N6 and C150N6 models in the QSL8.9G Series. The Cummins commercial generator set is a fully integrated power generation system providing optimum performance, reliability, and versatility for stationary standby power applications.
3 Global Competitive Analysis The global market for genset seems to be highly competitive. To maintain the market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, product launch, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
Page|3
Copyright © 2018 Market Research Future.
Global Genset Market Research Report- Forecast to 2022
Page|4
Copyright Š 2018 Market Research Future.
Global Genset Market Research Report- Forecast to 2022
Page|5
Copyright Š 2018 Market Research Future.