MARKET REPORT

LATEST ANALYSIS OF GLOBAL GENERATOR MARKET VALUES

A new report - Generator Sets Market Size By Power Rating (<50 kVA, 50-125 kVA, 125-200 kVA, 200-330 kVA, 330-750 kVA, >750 kVA), By Fuel (Diesel, Gas, Hybrid) has been published in 2021. (www. gminsights.com/industry-analysis/generator-sets-market). This comprises 960 pages covering 40 countries and 30 companies. Forecast period is from 2021 - 2030. According to market analysts, Global Market Insights, the global Generator Set Market has a worth exceeding US$31 billion in 2020 and annual installation is anticipated to surpass 4.5 million units by 2030. A genset, also known as a power generator is defined as an electrical equipment comprising of a generator, an engine, and other ancillaries, which produces electrical power. These units are primarily deployed to supply emergency power during a grid failure or to provide power in sites with limited grid access. An increasing number of weather-related disasters leading to unpredictable extended electrical outages will further boost the product adoption. The increased stringency of environmental compliances and a focus on cost reduction, energy efficiency, and utilisation of clean-

THE COMMERCIAL GENERATOR SETS MARKET EXCEEDED USD

9 BILLION IN 2020. UPGRADATIONS IN IT SECTOR

ACCOMPANIED BY EXPONENTIAL DEVELOPMENT OF THE

DATA CENTERS WILL COMPLEMENT THE BUSINESS GROWTH.

er sources are amongst the most instrumental trends stimulating generator sets industry outlook. Growing significance of reliable emergency power supply along with increasing susceptibility of grid infrastructure to external damage will further shape the industry potential. Increasing reliance on electronics & electrical equipment to sustain day-to-day operations across a multitude of end users will accelerate the product deployment. Moreover, surging customer demand for zero downtime and consistent electricity supply will continue to entail the deployment of these systems. The market involving 125-200 kVA rated generator sets is estimated to reach a value of over US$ 11 billion by 2030. Widescale product adoption across commercial sector including complexes, telecom towers, hotels, and educational institutions is set to propel the market share. Ongoing expansion of mobile towers to cater to the requirements of a compounding subscriber base will further fuel the market size. In addition, the proliferation of large industries, and retail stores has significantly corresponded to an increased demand for a consistent power supply, thereby enhancing the industry landscape. Infrastructure development and surging demand from healthcare sector will boost the 200-330 kVA generator sets industry statistics. Rising demand from data centres on account of increased data usage following the work from home regime across several sectors will positively impact the business landscape. The diesel generator sets industry is anticipated to grow at a rate of over 6% through 2030. These units are deployed as a prominent solution for standby or mobile power on account of their scalable, flexible, and weather-independent operation. Furthermore, increasing applicability across mining, oil & gas, telecom, construction sector will positively influence the market trends. An upsurge in the continuing industrial revolution has led to a substantial rise in demand for consistent power to ensure smooth operation of various industries. Thus, the constant amplifying requirement to ramp up generation capacities in order to cater to the increasing demands across these industries has sustained the use of these systems. The commercial generator sets market exceeded USD 9 billion in 2020. Upgradations in IT sector accompanied by exponential development of the data centers will complement the business growth. Surging focus toward digitalization along with increased end-user awareness toward rising power outages will improve the industry outlook. These units integrates key features including high durability, capacity & low volatility rate which makes them the prime choice for diversified mining operations. Increasing demand for constant power supply across automotive and pharmaceuticals manufacturing industries are some of the underlying parameters supporting the industry statistics. These industries have resorted to automatic gensets to provide standby power supply in events of electrical failures thus avoiding huge financial, reputational and product losses.

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