New Research Study on Generator Sets Market Predicts Sustained Growth Up to
Generator Sets Market Overview:
The global generator set market was valued at USD 18.03 billion in 2018 and is expected to reach a value of USD 28.85 billion by 2026, with an expected CAGR of 6.05% during the forecast period, 2019 -2026. A generator set is a device that converts mechanical energy into electrical energy for various purposes. It consists of an engine and an alternator, which are coupled and embedded on a plinth with other components. Other components of a generator set include the batteries, fuel tank, control board, and programmed transfer switch. Generating sets are cost effective equipment with high efficiency and reliability of operation.
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The Major Players Covered In This Report: Caterpillar, Wartsila, Siemens, General Electric, ABB Ltd, PARAMAC, Generac Holdings Inc., Cummins, Kohler Co., MTU Onsite Energy, Mitsubishi Heavy Industries, Kirloskar Electric Company, Yanmar Co. Ltd. , and Himoinsa SL, among others., & More …
By rated power, up to 100 kVA, 100 to 350 kVA, 350 to 1000 kVA, above 1000 kVA
By type of fuel, diesel, natural gas, propane
By application, stand
By power, peak clipping, main / continuous power
By end user, industrial, commercial, residential
1.) Due to strict environmental regulations, the main market players are constantly working on the development of new products that mitigate emissions; for example, Inmesol, an environmentally friendly generator set manufacturer, designs highly efficient generator sets that will reduce gas emissions
2.) Cummins India, a manufacturer of diesel and natural gas engines for power generation and other applications, has developed a series of generator sets that meet new environmental standards (CPCB II) which will be implemented by the Central Pollution Control Board in India.
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Growing domestic demand and expanding pharmaceutical sector to stimulate demand for generator sets in APAC region
The Asia-Pacific region is expected to hold the largest market share in the global generator sets market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam and Indonesia, which account for the largest share in this region. India is one of the largest producers of Genset and a major exporter of the product to various countries across the world. India accounts for around 80% of Genset’s global exports. Favorable climatic conditions and the growth of agricultural inputs and related services like cold storage and warehousing in India are leading to increased production.
Why buy this report?
a. The global generator sets market report covers detailed analysis of the economic impact of generator sets in the global scenario
b. The report specifically focuses on the Asia Pacific and North America regions where the infrastructure sector is gaining ground and creating the market growth prospects.
vs. A brief study on the attractive segments of the market is also included within the scope of the report
Key elements of the report:
1. Global Generator Set Market Size by Revenue and Volume (Units) in 2018
2. Growth forecasts for 2019-2026
3. Notable trends and economic outlook
4. Major suppliers and distributors in the market and their estimated global and regional market shares as of 2019
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