Global Generator Sets Market is valued approximately at USD 25.84 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 8.1% over the forecast period 2021-2027. Rapid industrialization owing to growth in industries such as manufacturing, power generation, oil and gas, construction and others is pushing the market growth. According to Statista, gross output of the oil and gas extraction industry in United States has increased from USD 269.7 billion in 2015 to USD 375.2 billion in 2019. Also, growing significance of reliable emergency power supply and rising consumer preference for uninterrupted power supply are injecting growth in the market. Furthermore, growing development of data centers and new product launches are expected to fuel growth in the market. Such as, in May 2021, Cummins Inc. launched C1000N6B and C1300N6 NFPA 110 Type 10 capable natural gas generator sets for peaking and standby power applications. Additionally, according to Statista, number of hyperscale data centers worldwide has increased from 448 in 2018 to 597 in 2020. However, stringent regulations regarding control of high level of carbon emissions and high cost of generator sets may hamper the growth in near future.
Asia Pacific is the leading region in terms of revenue among Asia Pacific, North America, Europe, Latin America, and Rest of the World and is also expected to grow with the highest growth rate during forecast period. Expansion of commercial office space and growing number of infrastructure projects and manufacturing facilities in the countries such as India, China, Japan and others are the factors attributed to Asia Pacific growth.
Major market player included in this report are:
Atlas Copoco AB
Generac Holdings Inc.
Briggs and Stratton Corporation
AKSA Power Generation
MTU Onsite Energy
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Fuel Type:
By Power Rating:
Low Power Generator
Medium Power Generator
High Power Generator
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Generator Sets Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers