Industrial Generator Set Market Growth Drivers, Trends, and Forecast by 2031

MARKET INTRODUCTION

At its simplest, a generator set or "genset is a piece of portable equipment, consisting of an engine and an alternator/electric generator, used to provide energy. Gensets are often used in developing areas and other areas not connected to the power grid; places where power outages are frequent; and/or where an outage can cause especially significant or dangerous problems, such as deep in a mine. They can serve as the main source of energy or as a supplementary power source, perhaps during peak usage hours.

MARKET DYNAMICS

Industrial generator sets have been gaining popularity for the last few years due to the various advantages offered such as long maintenance interval, low temperature starting capacity, high power density, etc. Industrial generator sets are efficient and simple, as they consume less fuel due to the development of a common rail injection engine, which consumes less fuel and generates less noise. Increase in industrial applications and rise in construction activities are expected to drive the global industrial generator sets market during the forecast period.

MARKET SCOPE

The ˜Global Industrial Generator Sets Market Analysis to 2031" is a specialized and in-depth study of the consumer goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the industrial generator sets market with detailed market segmentation by power rating, fuel type, distribution channel, and end-user. The global industrial generator sets market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading industrial generator sets market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

1. By Power Rating: The global market is divided into Less than 75 kVA, 75 to 375 kVA, 375 to 750 kVA, and More than 750 kVA.
2. By Fuel Type: The global market is divided into Diesel, Gas, and Others (Hybrid, etc.)
3. By Distribution Channel: The global market is divided into direct, and indirect.
4. By End-user: The global market is divided into Oil & Gas, Manufacturing, Construction, Electric Utilities, Mining, Transport & Logistics, and Others (Health care, etc.)

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The industrial generator sets market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the industrial generator sets market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the industrial generator sets market in these regions.
IMPACT OF COVID 19
With the outbreak of the COVID 19 pandemic, there is a sharp pullback in economic activity due to mandatory lockdowns and other containment measures. The impact of COVID 19 pandemic on the energy, automobile, industries has already been profound. A drop in demand for industrial generator sets was observed in 2021. This drop is primarily due to a dramatic fall in oil prices that has led to drastic spending cuts in the oil and gas industry. The market is expected to fare well in the short term due to the advantages associated with the generator sets.

MARKET PLAYERS

The report covers vital developments in the industrial generator sets market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the industrial generator sets market are anticipated to have lucrative growth opportunities in the future with the rising demand for industrial generator sets in the global market. Below mentioned is the list of a few companies engaged in the industrial generator sets Market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the industrial generator sets market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.

•   Atlas Copco
  
•   Briggs & Stratton Corporation
  
•   C&S Electric Limited
  
•   Caterpillar Inc.
  
•   Cummins Inc.
  
•   Deere & Company
  
•   Generac Holdings Inc.
  
•   Ingersoll Rand plc.
  
•   J.C. Bamford Excavators Limited
  
•   Mitsubishi Heavy Industries, Ltd.
  
  

The Insight Partners dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Industrial Generator Set Report Scope