In this research service, the report reviews the rising need for generator sets in light of the current COVID-19 crisis. The study examines market drivers and restraints over the next 6 years. The growing need for power, coupled with an unreliable and inconsistent grid, will drive demand for commercial-industrial generator sets, while technology advancements and rising customer awareness will favor the adoption of residential generator sets. Restraints include the intense competition from the rental market and the limited economic activity due to the pandemic. The study also addresses current and future market opportunities in North America as well as the challenges faced by participants in this highly competitive scenario.
The base year for the study is 2019, and the forecast period runs through to 2025. Revenue and units are discussed in terms of output power range (<30kW, 30.1-60kW, 60.1-150kW, 150.1-300kW, 300.1-500kW, 500.1-1,000kW, 1,000.1-3,000kW), country (the United States and Canada), end user (commercial, industrial, residential), and application (peak shaving, prime power, standby). Forecasts for natural gas generators and diesel generators are also provided. Market share and competitive analysis are discussed, alongside growth opportunities for market participants, and critical factors for success.
Key Issues Addressed
- What is the current market size and what are the growth projections for 2025? Which growth segment is to be pursued?
- How has the pandemic affected the market? What are the new risk mitigation strategies and the alternative big bets to circumvent challenges?
- What are the current applications and use-cases of generators across different verticals? Do the current product offerings meet customers’ needs, or is additional development needed?
- Which companies are game changers? How are they riding the growth curve?
- How will the structure of the market change with time? How are the various market segments positioned to monetize growth opportunities?