DIESEL GENERATOR SETS LEAD THE FIELD AND ACCOUNT FOR ABOUT 90.0% OF 2022 MARKET

The global low-power generator sets market size was valued at US$33.37 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.0 % from 2023 to 2038, reports US\-based Grand View Research.

. Increasing demand for uninterrupted and reliable power supply for usage in power generation, telecommunication, oil & gas, marine, residential, chemical, manufacturing and construction, and healthcare applications are anticipated to fuel the growth of the market during the forecast period.

Ongoing industrialisation in emerging economies and an increasing number of infrastructure development projects worldwide are among the significant factors influencing global electricity demand.

Growing usage of electronic equipment by different businesses has resulted in increasing demand for generators to prevent sudden stoppage of electricity supply during power outages to prevent disruption in their daily activities.

The U.S. market is anticipated to witness substantial growth in the forecast period owing to backup power systems to ensure uninterrupted power supply to important facilities, such as data centers, hospitals, and others, which require a 24/7 electric supply.

The U.S. accounted for the largest share of North America’s low-power gensets market and is expected to progress at the fastest growth rate over the forecast period.

This is attributed due to the rising power demand; availability of shale gas reserves, the government’s growing emphasis on the creation of clean energy sources, and the diesel generator sets the low total cost of ownership and operational advantages.

These factors are expected to fuel the demand for diesel and natural gas generator sets in the U.S. over the forecast period.

Moreover, developing industrial and commercial facilities such as shopping malls, high-rise buildings universities, restaurants, refineries, office buildings, and others in the U.S. are driving the demand for uninterrupted electricity supply to expand businesses and perform operations efficiently.

Natural calamities and climate change have resulted in prolonged power cuts, which is driving the demand for backup power as an essential amenity in commercial, residential, and industrial establishments. This is expected to drive the low power gensets market in the U.S. Diesel generator sets led the market and accounted for about 90.0% of the overall low-power gensets market in 2022. Diesel generators are used in a variety of applications worldwide. They are typically installed in remote areas connected to the power grid and can be used as a backup system or as the primary power source because they can be quickly turned on and off without any lag time. www.grandviewresearch.com

IN 2022 DIESEL-FUELLED GENERATOR SETS HAD THE HIGHEST MARKET SHARE OF ABOUT 88.0% IN THE WORLDWIDE 50 KVA TO 150 KVA LOW-POWER GENERATOR SETS MARKET.

A natural gas generator is a popular and effective way to produce electricity.

Being one of the most affordable and efficient fuels among nonrenewable resources for energy production, natural gas can be used to power both emergency and portable generators.

Coal may be the only fuel that is less costly from a cost perspective. However, its high pollution level is one of its biggest drawbacks.

A hybrid generator, which is typically attached to a diesel generator, combines two clear energy sources to produce electricity through a battery-charged system.

The battery will be charged by the generator, which will also act as the main power source, using renewable energy sources like solar or wind.

The diesel generator will start up right away to start generating electricity when the battery levels start to get low.

The 50-150 kVA sub-segment led the market and accounted for 37.61% of the global share in 2022 owing to critical equipment applications, such as hospitals and industries, to power civil work and construction sites.

0-50 kVA grensets accounted for the second-highest market share. They are very popular for commercial and residential power backup operations. Nowadays, people use various electrical appliances in their homes such as water pumps, geysers, AC units, and others, which require more power to function.

150-350kVA gensets are industrial generators, which are used as standby power, and are a robust type of equipment designed with legal standards to perform efficiently and properly during power outages. The industrial sector in emerging economies, including Brazil, India, and China, has highly contributed to the demand for power backup systems owing to the high industrial load in these countries which is expected to drive demand for this segment in the forecasted period.

In 2022, diesel-fuelled generator sets have the highest market share of about 88.0% in the 50 kVA to 150 kVA low-power generator sets market. Diesel generators with lower power ratings are used for construction and commercial applications. These generators are widely used as they are affordable and easier to maintain as compared to power generators with different fuel types. Diesel-fueled generators are generally cheaper than gas and hybrid generators.