Generator Sets Market worth over $34 billion by 2024: Global Market Insights, Inc.

Generator Sets Market Size By Current, By Phase, By Power Rating, By Application and Regional Analysis (U.S., Canada, Mexico, Russia, UK, Germany, France, Spain, Austria, Italy, China, Australia, India, Japan, Indonesia, South Korea, Saudi Arabia, UAE, Iran, Nigeria, Egypt, South Africa, Brazil, Argentina, Chile), Application Potential, Growth Trends, Competitive Market Share & Global Forecast to 2024

Selbyville, Delaware, UNITED STATES

Sellbyville, Delaware , Jan. 25, 2018 (GLOBE NEWSWIRE) --

Global Generator Sets Market is projected to surpass USD 34 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. Inadequate power supply, unreliable grid infrastructure coupled with escalating demand for invariable power will stimulate the market. The industry is extensively driven by the rapidly expanding global population and urbanization worldwide. Strengthening need for self-generating power to combat chronic power shortages will further boost the product penetration.

The U.S. market is set to witness a growth of over 4% by 2024. Rapid recurrences of natural adversities resulting in prolonged power outages has entailed an extensive installation of gensets. In September 2017, Hurricane Maria, a Category 4 storm vandalized nearly 80 percent of Puerto Rico power transmission lines. The storm led to the longest outage in the U.S. history leaving more than 1.57 million electricity customers without power.

Request for a sample of this research report @

Sizeable government investments in backup power generation to mitigate the risks of blackouts and support load shedding during peak times will augment the market. In 2017, the Government of Australia announced an energy plan worth USD 550 million to bring online temporary back-up power generators to reinforce the country’s power reliability.

Gas generator sets market is predicted to expand over 9 % by 2024. Natural gas is being increasingly used as an alternative energy source to replace conventional fossil fuels including diesel and gasoline. The growing inclination toward natural gas as a fuel source is attributed to stringent government regulations restricting the use of other counterparts.

Browse key industry insights spread across 440 pages with 908 market data tables & 13 figures & charts from the report, “Generator Sets Market” in detail along with the table of contents:

Growing dependency on digitization along with steady upsurge in data center outages cost will significantly boost the gensets adoption. According to Ponemon Institute, an average data center outage cost has dramatically increased by over 38 percent from USD 505 thousand in 2010 to USD 740 thousand in 2015. The burgeoning expansion of the data centers sector is invariably accompanied by significant growth in the global market.

The ongoing deployment of gensets across the industrial sector as a source of prime power generation will fuel the industry growth. These units are being increasingly installed in multiple industries including mining, oil & gas, construction where grid access is limited. Rapid industrialization along with increasing investments toward infrastructural development will propel the global market.

Polyphase gensets will witness an appreciable growth owing to their operational suitability in wide ranging applications. The product is predominantly deployed across commercial and industrial sectors on account of their high flexibility, material efficiency and ability to support high power requirements.

High electricity costs, poor transmission & distribution networks along with rapid population growth across developing economies will positively impact the market growth. Increasing energy consumption coupled with inadequate installed capacity will further complement the business outlook.

Key participants in the market include, Generac, Kirloskar, Cummins, Briggs & Stratton, Kohler, Caterpillar, Yanmar, Sterling, John Deere, Mahindra Powerol, Mitsubishi, America Honda Motor.

Make an inquiry for purchasing this report @

Browse Related Reports:

  • Generator Market Size 2016 – 2024

Global Generator Market share is expected to witness growth owing to increasing demand for continuous and stable power supply. Rapid industrialization and urbanization are responsible to encourage electricity demand.

  • Hydrogen Generator Market Size 2016 – 2024

Hydrogen Generator Market share was valued at over USD 800 million in 2015 with industry expectation of more than 5% growth up to 2024. Stringent emission regulations for clean fuel adoption such as hydrogen over fossil fuels is prospective to boost demand.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Connect with us: Facebook | Google+ | LinkedIn | Twitter