Global Genset Market is valued approximately USD 41666.2 million in 2022 and is anticipated to grow with a healthy growth rate of more than 6.6% over the forecast period 2023-2030. A genset, a compact powerhouse, converts mechanical energy into electricity to meet diverse needs. It's composed of an engine and alternator intricately linked on a sturdy base alongside essential components like batteries, fuel tanks, control boards, and automated transfer switches. Renowned for their cost efficiency and dependable performance, gensets can be remotely managed via various systems like SCADA, crucial for overseeing and regulating industrial processes. The growth is driven by key factors such as increasing reliance on data centers for digital services, increasing frequency of natural disasters, and expanding Telecom Infrastructure.
Genset manufacturers are intensifying their efforts to cater to the burgeoning demand from data centers, akin to powering a small township due to their colossal electricity needs. These data hubs necessitate multiple gensets of 750kVA and higher capacity. According to the Internet and Mobile Association of India, the Indian data center market is poised for substantial growth, propelled by the escalating usage of data via smartphones, e-commerce platforms, social networking sites, and government initiatives. As per Statista, by 2023, Huawei, a Chinese telecommunications giant headquartered in Shenzhen, emerged as the foremost valuable brand in the global telecommunications infrastructure sector, boasting a valuation nearing USD 44.3 billion. Also, despite facing sanctions from the United States and other international governments, Huawei retained its leadership position. However, rise of Alternative Energy Sources stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Genset Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. The Asia-Pacific region is leading the global market share, driven by a rise in power outages and the urgent requirement for uninterrupted electricity supply across industrial and commercial sectors. Governments in emerging nations within the region are spearheading initiatives to promote clean energy and bolster infrastructure for gas pipelines. Despite these efforts, according to the International Renewable Energy Agency, approximately 85% of the energy generated in Asia-Pacific still comes from fossil fuels. Along with this, in North America, expected to be fastest growing region due to surge in demand for generators, spurred by the escalating vulnerability and diminishing resilience of regional grid infrastructure to weather-related disasters. The formidable presence of industry giants like Caterpillar, Wartsila, Siemens, General Electric, ABB Ltd, and PARAMAC presents abundant opportunities within the genset market.
Major market player included in this report are:
- Harrington Generators International
- Cummins Inc.
- Caterpillar Inc.
- Rolls-Royce Power Systems AG
- John Deere
- Mitsubishi Heavy Industries Ltd.
- Atlas Copco
- Kohler Co.
- Doosan Corporation
- Himoinsa
Recent Developments in the Market:
- "In June 2020, Cummins Inc. heralded a new era in power generation with the debut of their cutting-edge gensets empowered by an innovative digital control platform.
- On January 25, 2021, and Caterpillar Inc. made waves in the genset industry with the unveiling of their latest series, emphasizing sustainability at its core.
Global Genset Market Report Scope:
- Historical Data - 2020 - 2021
- Base Year for Estimation - 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Power Rating, Fuel Type, Application, End-use, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
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 years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential 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 Power Rating:
- Up to 100 kVA
- 100-350 kVA
- 350-1000 kVA
- Above 1000 kVA
By Fuel Type:
- Diesel
- Natural Gas
- Propane
By Application:
- Standby Power
- Peak Shaving
- Prime/Continuous Power
By End-use:
- Industrial
- Commercial
- Residential
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1.Executive Summary
- 1.1.Market Snapshot
- 1.2.Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Million)
- 1.2.1.Genset Market, by Region, 2020-2030 (USD Million)
- 1.2.2.Genset Market, by Power Rating, 2020-2030 (USD Million)
- 1.2.3.Genset Market, by Fuel Type, 2020-2030 (USD Million)
- 1.2.4.Genset Market, by Application, 2020-2030 (USD Million)
- 1.2.5.Genset Market, by End-user, 2020-2030 (USD Million)
- 1.3.Key Trends
- 1.4.Estimation Methodology
- 1.5.Research Assumption
Chapter 2.Global Genset Market Definition and Scope
- 2.1.Objective of the Study
- 2.2.Market Definition & Scope
- 2.2.1.Industry Evolution
- 2.2.2.Scope of the Study
- 2.3.Years Considered for the Study
- 2.4.Currency Conversion Rates
Chapter 3.Global Genset Market Dynamics
- 3.1.Genset Market Impact Analysis (2020-2030)
- 3.1.1.Market Drivers
- 3.1.1.1.Increasing reliance on data centers for digital services
- 3.1.1.2.Increasing frequency of natural disasters
- 3.1.1.3.Expanding Telecom Infrastructure
- 3.1.2.Market Challenges
- 3.1.2.1.Rise of Alternative Energy Sources
- 3.1.3.Market Opportunities
- 3.1.3.1. Growing adoption of renewable energy sources
- 3.1.3.2.Advancements in generator technologies
Chapter 4.Global Genset Market Industry Analysis
- 4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
- 4.2.Porter's 5 Force Impact Analysis
- 4.3.PEST Analysis
- 4.3.1.Political
- 4.3.2.Economical
- 4.3.3.Social
- 4.3.4.Technological
- 4.3.5.Environmental
- 4.3.6.Legal
- 4.4.Top investment opportunity
- 4.5.Top winning strategies
- 4.6.COVID-19 Impact Analysis
- 4.7.Disruptive Trends
- 4.8.Industry Expert Perspective
- 4.9.Analyst Recommendation & Conclusion
Chapter 5.Global Genset Market, by Power Rating
- 5.1.Market Snapshot
- 5.2.Global Genset Market by Power Rating, Performance - Potential Analysis
- 5.3.Global Genset Market Estimates & Forecasts by Power Rating 2020-2030 (USD Million)
- 5.4.Genset Market, Sub Segment Analysis
- 5.4.1.Up to 100 kVA
- 5.4.2.100-350 kVA
- 5.4.3.350-1000 kVA
- 5.4.4.Above 1000 kVA
Chapter 6.Global Genset Market, by Fuel Type
- 6.1.Market Snapshot
- 6.2.Global Genset Market by Fuel Type, Performance - Potential Analysis
- 6.3.Global Genset Market Estimates & Forecasts by Fuel Type 2020-2030 (USD Million)
- 6.4.Genset Market, Sub Segment Analysis
- 6.4.1.Diesel
- 6.4.2.Natural Gas
- 6.4.3.Propane
Chapter 7.Global Genset Market, by Application
- 7.1.Market Snapshot
- 7.2.Global Genset Market by Application, Performance - Potential Analysis
- 7.3.Global Genset Market Estimates & Forecasts by Application 2020-2030 (USD Million)
- 7.4.Genset Market, Sub Segment Analysis
- 7.4.1.Standby Power
- 7.4.2.Peak Shaving
- 7.4.3.Prime/Continuous Power
Chapter 8.Global Genset Market, by End-user
- 8.1.Market Snapshot
- 8.2.Global Genset Market by End-user, Performance - Potential Analysis
- 8.3.Global Genset Market Estimates & Forecasts by End-user 2020-2030 (USD Million)
- 8.4.Genset Market, Sub Segment Analysis
- 8.4.1.Industrial
- 8.4.2.Commercial
- 8.4.3.Residential
Chapter 9.Global Genset Market, Regional Analysis
- 9.1.Top Leading Countries
- 9.2.Top Emerging Countries
- 9.3.Genset Market, Regional Market Snapshot
- 9.4.North America Genset Market
- 9.4.1.U.S. Genset Market
- 9.4.1.1.Power Rating breakdown estimates & forecasts, 2020-2030
- 9.4.1.2.Fuel Type breakdown estimates & forecasts, 2020-2030
- 9.4.1.3.Application breakdown estimates & forecasts, 2020-2030
- 9.4.1.4.End-user breakdown estimates & forecasts, 2020-2030
- 9.4.2.Canada Genset Market
- 9.5.Europe Genset Market Snapshot
- 9.5.1.U.K. Genset Market
- 9.5.2.Germany Genset Market
- 9.5.3.France Genset Market
- 9.5.4.Spain Genset Market
- 9.5.5.Italy Genset Market
- 9.5.6.Rest of Europe Genset Market
- 9.6.Asia-Pacific Genset Market Snapshot
- 9.6.1.China Genset Market
- 9.6.2.India Genset Market
- 9.6.3.Japan Genset Market
- 9.6.4.Australia Genset Market
- 9.6.5.South Korea Genset Market
- 9.6.6.Rest of Asia Pacific Genset Market
- 9.7.Latin America Genset Market Snapshot
- 9.7.1.Brazil Genset Market
- 9.7.2.Mexico Genset Market
- 9.8.Middle East & Africa Genset Market
- 9.8.1.Saudi Arabia Genset Market
- 9.8.2.South Africa Genset Market
- 9.8.3.Rest of Middle East & Africa Genset Market
Chapter 10.Competitive Intelligence
- 10.1.Key Company SWOT Analysis
- 10.2.Top Market Strategies
- 10.3.Company Profiles
- 10.3.1. Harrington Generators International
- 10.3.1.1.Key Information
- 10.3.1.2.Overview
- 10.3.1.3.Financial (Subject to Data Availability)
- 10.3.1.4.Product Summary
- 10.3.1.5.Recent Developments
- 10.3.2. Cummins Inc.
- 10.3.3.Caterpillar Inc.
- 10.3.4.Rolls-Royce Power Systems AG
- 10.3.5.John Deere
- 10.3.6.Mitsubishi Heavy Industries Ltd.
- 10.3.7.Atlas Copco
- 10.3.8.Kohler Co.
- 10.3.9.Doosan Corporation
- 10.3.10.Himoinsa
Chapter 11.Research Process
- 11.1.Research Process
- 11.1.1.Data Mining
- 11.1.2.Analysis
- 11.1.3.Market Estimation
- 11.1.4.Validation
- 11.1.5.Publishing
- 11.2.Research Attributes
- 11.3.Research Assumption