Dublin, Nov. 17, 2020 (GLOBE NEWSWIRE) -- The "Genset Market Research Report: By Fuel (Diesel, Gas, Gasoline), Power Rating (5 kVA-75 kVA, 76 kVA-375 kVA, 376 kVA-750 kVA, Above 750 kVA), Application (Commercial, Industrial, Residential) - Global Industry Share Analysis and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global genset market is expected to attain a value of $27,863.0 in 2030, rising from $17,592.6 million in 2019, progressing at a 5.8% CAGR during the forecast period (2020-2030), as stated by a report by the publisher. The market is being driven by the increasing demand for data centers and low production of power and grid uncertainty in a number of countries. When fuel is taken into consideration, the market is divided into gasoline, gas, and diesel.
Among all these, the diesel division is predicted to account for the major share of the market in 2030, owing to the increased availability of this fuel as compared to other options. Despite the fact that low-power gas gensets cost less than diesel gensets, the poor supply of gas is affecting the adoption of these variants. On the basis of application, the market is categorized into residential, commercial, and industrial, out of which, the commercial category held the largest share of the market in 2019.
The demand for gensets in the commercial sector is growing due to the rising funding for the advancement of public infrastructure, expanding retail sector, swift construction of smart cities, and surging consumer spending. The commercial sector is further classified into hotels, retail establishments, hospitals, commercial offices, and telecom towers. The Asia-Pacific region accounted for the largest share of the genset market during the historical period (2014-2019), because of the rapid growth of the manufacturing sector.
The manufacturing sector is growing in the region because of government initiatives, including Making Indonesia 4.0, Make in India, and Made in China 2025. In addition to this, heavy investments are being offered for developing the telecommunications infrastructure and the requirement for backup power is rising from residential units. Because of its moderately developed power infrastructure, the region primarily used generators for auxiliary powers. The fastest growth is expected to be registered by the Middle East and African region during the forecast period.
A major factor driving the growth of the genset market is the increasing number of data centers across the globe. As a large amount of data is being created and consumed, the demand for supporting infrastructure for collation, assessment, and analysis is rising as well. The consumption and creation of data is further expected to grow because of the rising adoption of autonomous cars, IoT, and digital currencies. This will create demand for continuous power at data centers, thereby leading to the growth of the market.
The increasing requirement for gensets in the construction sector is expected to open up wide opportunities for the companies operating in the genset market. Because of swift industrialization in emerging economies and strong economic growth, the number of construction activities has increased majorly. Moreover, the recovery in oil prices, integration of technology in business practices, and lowering of geopolitical uncertainties are also expected to drive the growth of the market in the years to come.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Fuel
1.3.2 Market Segmentation by Power Rating
1.3.3 Market Segmentation by Application
1.3.4 Market Segmentation by Region
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.3.6.1 Value
1.3.6.2 Volume
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By region
2.2.1.2 By industry participant
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Fuel
4.1.1.1 Diesel
4.1.1.2 Gas
4.1.1.3 Gasoline
4.1.2 By Power Rating
4.1.2.1 5 kVA-75 kVA
4.1.2.2 76 kVA-375 kVA
4.1.2.3 376 kVA-750 kVA
4.1.2.4 Above 750 kVA
4.1.3 By Application
4.1.3.1 Commercial
4.1.3.1.1 Retail establishments
4.1.3.1.2 Commercial Offices
4.1.3.1.3 Telecom towers
4.1.3.1.4 Hospitals
4.1.3.1.5 Hotels
4.1.3.1.6 Others
4.1.3.2 Industrial
4.1.3.2.1 Manufacturing
4.1.3.2.2 Energy and power
4.1.3.2.3 Others
4.1.3.3 Residential
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 High-volume activity in the genset market
4.3.2 Drivers
4.3.2.1 Growing demand for data centers
4.3.2.2 Low power production and grid uncertainty in several countries
4.3.2.3 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Detrimental environmental impact and carcinogenic nature of diesel engine exhaust
4.3.3.2 Falling costs of renewable sources of power and availability of low-cost alternatives
4.3.3.3 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Demand for gensets in construction sector
4.4 Impact of COVID-19 on Genset Market
4.4.1 Impact on Supply Chain
4.4.2 Impact on Manufacturing
4.4.3 Impact on Consumer Sentiment & Sales
4.5 Regulatory Framework Analysis
4.5.1 U.S.
4.5.1.1 Emission standards and requirements for steady-state testing of engines
4.5.1.2 Optional standards for diesel gensets below 8 kW
4.5.1.3 Regulations for gensets covered under the primary FEL cap
4.5.1.4 Regulatory procedure
4.5.2 European Union (EU)
4.5.2.1 Emission limits for diesel gensets of power rating up to 560 kW
4.5.2.2 Emission limits for diesel gensets of power rating greater than 560 kW
4.5.3 India
4.5.3.1 Emission and noise limits for petrol gensets
4.5.3.2 Emission limits for diesel gensets of power rating up to 800 kW
4.5.3.3 Noise limits for diesel gensets
4.5.3.3.1 Noise limits for diesel gensets (of power rating up to 1,000 kVA) manufactured on or after January 1, 2005
4.5.3.3.2 Noise limits for diesel gensets that do not meet the aforementioned criterion
4.5.3.4 Certification of diesel gensets
4.5.3.4.1 Requirements for the certification of diesel gensets
4.5.3.4.2 Nodal agencies and authorized agencies
4.5.4 Nigeria
4.5.4.1 Regulation on diesel genset imports
4.5.4.2 Federal ban on the bulk import of diesel gensets
4.6 Global Power Sector Overview
4.6.1 Power Sector Outlook for North America
4.6.2 Power Sector Outlook for Europe
4.6.3 Power Sector Outlook for APAC
4.6.4 Power Sector Outlook for MEA
Chapter 5. Global Market Size and Forecast
5.1 By Fuel
5.2 By Power Rating
5.3 By Application
5.3.1 Commercial Application, By User
5.3.2 Industrial Application, By User
5.4 By Region
Chapter 6. North America Market Size and Forecast
6.1 By Fuel
6.2 By Power Rating
6.3 By Application
6.3.1 Commercial Application, By User
6.3.2 Industrial Application, By User
6.4 By Country
Chapter 7. Europe Market Size and Forecast
7.1 By Fuel
7.2 By Power Rating
7.3 By Application
7.3.1 Commercial Application, By User
7.3.2 Industrial Application, By User
7.4 By Country
Chapter 8. APAC Market Size and Forecast
8.1 By Fuel
8.2 By Power Rating
8.3 By Application
8.3.1 Commercial Application, By User
8.3.2 Industrial Application, By User
8.4 By Country
Chapter 9. LATAM Market Size and Forecast
9.1 By Fuel
9.2 By Power Rating
9.3 By Application
9.3.1 Commercial Application, By User
9.3.2 Industrial Application, By User
9.4 By Country
Chapter 10. MEA Market Size and Forecast
10.1 By Fuel
10.2 By Power Rating
10.3 By Application
10.3.1 Commercial Application, By User
10.3.2 Industrial Application, By User
10.4 By Country
Chapter 11. Competitive Landscape
11.1 Market Share Analysis of Key Players
11.2 Competitive Benchmarking of Key Players
11.3 Strategic Developments of Key Players
11.3.1 Mergers and Acquisitions
11.3.2 Product Launches
11.3.3 Partnerships
11.3.4 Facility Expansions
11.3.5 Client Wins
11.3.6 Other Developments
Chapter 12. Company Profiles
12.1 Caterpillar Inc.
12.1.1 Business Overview
12.1.2 Product and Service Offerings
12.1.3 SWOT Analysis of Caterpillar Inc.
12.1.4 Manufacturing Facilities
12.1.5 Key Financial Summary
12.2 Cummins Inc.
12.2.1 Business Overview
12.2.2 Product and Service Offerings
12.2.3 SWOT Analysis of Cummins Inc.
12.2.4 Manufacturing Facilities
12.2.5 Distribution Facilities
12.2.6 Joint Ventures, Alliances, and Other Subsidiaries
12.2.7 Key Financial Summary
12.3 Kohler Co.
12.3.1 Business Overview
12.3.2 Product and Service Offerings
12.4 AB Volvo
12.4.1 Business Overview
12.4.2 Product and Service Offerings
12.4.3 Genset Offerings of AB Volvo
12.4.4 Key Financial Summary
12.5 Denyo Co. Ltd.
12.5.1 Business Overview
12.5.2 Product and Service Offerings
12.5.3 Key Financial Summary
12.6 General Electric Company
12.6.1 Business Overview
12.6.2 Product and Service Offerings
12.6.3 Key Financial Summary
12.7 Kirloskar Oil Engines Limited
12.7.1 Business Overview
12.7.2 Product and Service Offerings
12.7.3 SWOT Analysis of Kirloskar Oil Engines Limited
12.7.4 Manufacturing Facilities
12.7.5 Joint Ventures, Alliances, and Other Subsidiaries
12.7.6 Key Financial Summary
12.8 Escorts Limited
12.8.1 Business Overview
12.8.2 Product and Service Offerings
12.8.3 Key Financial Summary
12.9 Generac Holdings Inc.
12.9.1 Business Overview
12.9.2 Product and Service Offerings
12.9.3 Key Financial Summary
12.10 Siemens AG
12.10.1 Business Overview
12.10.2 Product and Service Offerings
12.10.3 Key Financial Summary
12.10.4 SWOT Analysis of Siemens AG
12.10.5 Manufacturing Facilities
Chapter 13. Appendix
13.1 Abbreviations
13.2 Sources and References
13.3 Related Reports
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