Global Genset Market Size study & Forecast, 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 User (Industr

Global Genset Market Size study & Forecast, 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 User (Industrial, Commercial, Residential), and Regional Analysis, 2023-2030

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

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

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