Global Genset Market 2024

Global Genset Market 2024

Gensets, or generator sets, are integrated systems comprising an engine and an alternator designed to produce electrical power. These units can be diesel, gasoline, or natural gas-powered and are used across various sectors, including residential, commercial, industrial, and utility applications. Gensets serve as critical backup power solutions, ensuring continuous operation during power outages, and are also employed in remote locations where grid electricity is unavailable.

The global genset market is expected to increase by USD 2.7 billion, at a compound annual growth rate (CAGR) of 2.5% from 2024 to 2030, according to the latest edition of the Global Genset Market Report. The Asia-Pacific region dominates the market, followed by North America and Europe, due to rapid urbanization, infrastructural development, and the rising frequency of power outages.

Growing Demand for Uninterrupted Power Supply: The need for reliable and continuous power supply in critical sectors such as healthcare, data centers, and manufacturing is a primary driver for the genset market. Increasing instances of power outages and grid instability have further accentuated this demand.

Industrial Expansion: Rapid industrialization, especially in emerging economies, necessitates a stable power supply for operational efficiency. Gensets provide a viable solution to meet the energy requirements of expanding industrial operations.

Infrastructure Development: Large-scale infrastructure projects, including construction of commercial buildings, hospitals, and airports, require backup power solutions to ensure seamless operations. Gensets are integral to these projects, supporting the continuous functioning of essential services.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the fuel type, application, end user, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global genset market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for genset can be segmented by fuel type: diesel, gas.

Genset market is further segmented by application: standby, prime power (continuous), peak shaving.

Based on end user, the genset market is segmented into: commercial buildings, data centers, healthcare, oil and gas, public and infrastructure, residential, telecom, utilities, others.

On the basis of region, the genset market also can be divided into: North America, Europe, Middle East & Africa, Asia Pacific, India, China, Japan, Latin America.

The report also provides a detailed analysis of several leading genset market vendors that include Aksa Power Generation (Dagar Technologies S.L.), Atlas Copco Holdings Ltd., Blue Star Power Systems Inc. (Deutz AG), Briggs & Stratton Corporation, Caterpillar Inc., Cetec Sudamericana S.A., CNPC Jichai Power Company Limited, Cummins Inc., Deere & Company, Elcos s.r.l., Generac Holdings Inc., GENMAC S.r.l.s.u., Igsa Corporation, INNIO Jenbacher GmbH & Co OG, Katolight Corp., Kirloskar Electric Company, Kohler Co., MAN Energy Solutions SE, Mitsubishi Heavy Industries, Ltd., MTU Onsite Energy Corp., Multiquip Inc., Triton Power Inc., Wärtsilä Oyj Abp, Weifang Haitai Power Machinery Co., Ltd., Winco Incorporated, Yanmar Co. Ltd., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Why Choose This Report

Gain a reliable outlook of the global genset market forecasts from 2024 to 2030 across scenarios.

Identify growth segments for investment.

Stay ahead of competitors through company profiles and market data.

The market estimate for ease of analysis across scenarios in Excel format.

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Market Segments Covered in Global Genset Industry Analysis:

i.) Fuel type

• Diesel
• Gas

ii.) Application

• Standby
• Prime power (continuous)
• Peak shaving

iii.) End user

• Commercial buildings
• Data centers
• Healthcare
• Oil and gas
• Public and infrastructure
• Residential
• Telecom
• Utilities
• Others

iv.) Region

• North America
• US
• Canada
• Europe
• UK
• Turkey
• France
• Benelux
• Italy
• Spain
• Germany
• Nordics
• Russia and CIS
• Eastern Europe
• Rest of Europe
• Middle East & Africa
• South Africa
• UAE
• Saudi Arabia
• Egypt
• Rest of the Middle East & Africa
• Asia Pacific
• Taiwan
• South Korea
• Vietnam
• Thailand
• Singapore
• Philippines
• Malaysia
• Indonesia
• ANZ
• Rest of Asia Pacific
• India
• China
• Japan
• Latin America
• Brazil
• Mexico
• Argentina
• Chile
• Colombia
• Peru
• Rest of Latin America