Summary

Genset Market Research Report Information by Portability (Stationary and Portable), By Fuel (Diesel, Gas, and Others), By End User (Industrial, Commercial and Residential), By Power Rating ( Up to 100KVA, 100-350KVA, 350-1000KVA, and Above 1000KVA), By Application (Standby, Peak Shaving, and Continuous) And By Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) Forecast Till 2032

Market Overview

The Genset Market industry is projected to grow from USD 24,567.9 Million in 2019 to USD 34,357.3 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 5.5% during the forecast period (2019 - 2032). 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.
Increased efforts to combat power outages will promote the growth of the genset market. Following the winter storm and cold wave in Texas in February 2021, a blackout affected more than four million people. Most of the population's residential and professional tasks were perilous because the power outage persisted for more than a week. Due to these situations, consumers are more conscious of needing a dependable backup power supply. Natural weather events, including lightning, rain, snow, ice, wind, and dust, frequently result in power outages. While protecting customer electrical systems from the impacts of water and dust is more challenging, it only takes a little to protect them from large power outages caused by natural disasters like floods and strong storms. Water can cause power outages and short circuits. It makes sense to make sure customers are effectively secured against water entering electrical circuits because the damage it may do can be very costly. Keeping electrical switchboards, wires, and circuits out of water is important. Additionally, excessive moisture and dampness can cause significant harm. Sealed circuit boxes can also preserve y customer expensive electrical equipment and help customer avoid unanticipated power outages. This is growing the need of market.


Market Segment Insights
The Genset Market segmentation, based on portability, includes stationary and portable. Based on fuel the market is divided into diesel, gas and others. The Genset Market data has been bifurcated by end user largely into industrial, commercial and residential.

In terms of power rating the market is classified into up to 100KVA, 100-350 KVA, 350-1000KVA, and above 1000KVA. Based on end user the market is classified into peak shaving, standby, and continuous.
Region Insights
Asia-Pacific Genset Market accounted for USD 9,848.1 million in 2022 and is anticipated to register a healthy CAGR during the review period. The market for genset in Asia-Pacific is being driven by elements such as the rising demand for electricity, the unreliable grid infrastructure, the desire for solutions for emergency backup power, and the necessity for a consistent power supply. However, the market's expansion is constrained by high installation and maintenance costs and consumer preference for environmentally friendly alternatives (solar, fuel cells, etc.).
The North America region’s increasing need for a consistent and dependable power supply and the increased number of power outages boost the market growth. Additionally, the rapid construction of hotels, corporate buildings, and residential buildings increases the need for power backup solutions, increasing the need for genset. The market has expanded due to the impressive technological developments in genset technologies.
The market for genset in Europe is anticipated to be driven by elements such as a consistent and dependable power supply, backup power during power outages, and the extended time needed to build up the transmission and distribution infrastructure. However, it is anticipated that the market will be constrained by the greater price of electricity generated by genset compared to the utility grid.

Major Players
Key Companies in the Genset Market include Atlas Copco Holdings Ltd., Yanmar Co. Ltd., Cummins Inc., John Deere, Caterpillar Inc., Wartsila, Kohler Co., Kirloskar Electric Company, Aggreko Ltd., Generac Holdings Inc., and Greaves Cotton Limited.

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Table of Contents

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS
1.1.1 GLOBAL GENSETS MARKET, BY PORTABILITY
1.1.2 GLOBAL GENSETS MARKET, BY FUEL
1.1.3 GLOBAL GENSETS MARKET, BY END USER
1.1.4 GLOBAL GENSETS MARKET, BY POWER RATING
1.1.5 GLOBAL GENSETS MARKET, BY APPLICATION
1.1.6 GLOBAL GENSETS MARKET, BY REGION
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 SECONDARY RESEARCH
3.3 PRIMARY RESEARCH
3.3.1 PRIMARY INTERVIEWS AND INFORMATION GATHERING PROCESS
3.4 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION
3.4.1 BOTTOM-UP APPROACH
3.4.2 TOP-DOWN APPROACH
3.5 DATA VALIDATION
3.6 ASSUMPTIONS & LIMITATIONS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 DRIVERS
4.2.1 INCREASING NUMBER OF POWER OUTAGES
4.2.2 RISING DEMAND FOR UNINTERRUPTED & RELIABLE POWER SUPPLY
4.3 RESTRAINT
4.3.1 HIGH MAINTENANCE COST
4.4 OPPORTUNITIES
4.4.1 RISING RURAL ELECTRIFICATION
5 MARKET FACTOR ANALYSIS
5.1 VALUE CHAIN ANALYSIS/SUPPLY CHAIN ANALYSIS
5.1.1 GENSETS MANUFACTURERS
5.1.2 DISTRIBUTION & SALES CHANNEL
5.1.3 END-USERS
5.2 PORTER’S FIVE FORCES MODEL
5.2.1 BARGAINING POWER OF SUPPLIERS
5.2.2 BARGAINING POWER OF BUYERS
5.2.3 THREAT OF NEW ENTRANTS
5.2.4 THREAT OF SUBSTITUTES
5.2.5 INTENSITY OF RIVALRY
5.3 IMPACT OF CORONAVIRUS OUTBREAK ON GLOBAL ENERGY AND POWER MARKET
5.3.1 OVERVIEW
5.3.1.1 ECONOMIC IMPACT
5.3.2 IMPACT ON THE GLOBAL GENSETS MARKET
5.3.3 IMPACT ON SUPPLY CHAIN OF GENSETS MARKET
5.3.3.1 PRICE VARIATION OF KEY RAW MATERIALS
5.3.3.2 PRODUCTION SHUTDOWN
5.3.3.3 CASH FLOW CONSTRAINTS
5.3.3.4 IMPACT ON IMPORT/EXPORT
5.3.4 IMPACT OF MARKET DEMAND FOR GENSETS
5.3.4.1 IMPACT DUE TO LOCKDOWN
5.3.5 IMPACT ON PRICING GENSETS MARKET
6 GLOBAL GENSETS MARKET, BY PORTABILITY
6.1 INTRODUCTION
6.2 STATIONARY
6.2.1 STATIONARY: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2019-2032
6.3 PORTABILITY
6.3.1 PORTABILITY: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2019-2032
7 GLOBAL GENSETS MARKET, BY FUEL
7.1 INTRODUCTION
7.2 DIESEL
7.2.1 DIESEL: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2019-2032
7.3 GAS
7.3.1 GAS: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2019-2032
7.4 OTHERS
7.4.1 OTHERS: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2019-2032
8 GLOBAL GENSETS MARKET, BY END USER
8.1 INTRODUCTION
8.2 INDUSTRIAL
8.2.1 INDUSTRIAL: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2019-2032
8.3 COMMERCIAL
8.3.1 COMMERCIAL: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2019-2032
8.4 RESIDENTIAL
8.4.1 RESIDENTIAL: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2019-2032
9 GLOBAL GENSETS MARKET, BY POWER RATING
9.1 INTRODUCTION
9.2 UP TO 100 KVA
9.2.1 UP TO 100 KVA: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2019-2032
9.3 100-350 KVA
9.3.1 100-350 KVA: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2019-2032
9.4 350-1000 KVA
9.4.1 350-1000 KVA: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2019-2032
9.5 ABOVE 1000 KVA
9.5.1 ABOVE 1000 KVA: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2019-2032
10 GLOBAL GENSETS MARKET, BY APPLICATION
10.1 INTRODUCTION
10.2 STANDBY
10.2.1 STANDBY: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2019-2032
10.3 PEAK SHAVING
10.3.1 PEAK SHAVING: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2019-2032
10.4 CONTINUOUS
10.4.1 CONTINUOUS: MARKET ESTIMATES & FORECAST BY REGION/COUNTRY, 2019-2032
11 GLOBAL GENSETS MARKET, BY REGION
11.1 INTRODUCTION
11.2 NORTH AMERICA
11.2.1 US
11.2.2 CANADA
11.2.3 MEXICO
11.3 EUROPE
11.3.1 GERMANY
11.3.2 FRANCE
11.3.3 UK
11.3.4 ITALY
11.3.5 SPAIN
11.3.6 BELGIUM
11.3.7 DENMARK
11.3.8 REST OF EUROPE
11.4 ASIA PACIFIC
11.4.1 CHINA
11.4.2 JAPAN
11.4.3 SOUTH KOREA
11.4.4 AUSTRALIA
11.4.5 REST OF ASIA PACIFIC
11.5 SOUTH AMERICA
11.5.1 BRAZIL
11.5.2 ARGENTINA
11.5.3 REST OF SOUTH AMERICA
11.6 MIDDLE-EAST AND AFRICA
11.6.1 SAUDI ARABIA
11.6.2 UAE
11.6.3 SOUTH AFRICA
11.6.4 NIGERIA
11.6.5 REST OF MEA
12 COMPETITIVE LANDSCAPE
12.1 COMPETITIVE OVERVIEW
12.2 COMPETITOR DASHBOARD
12.3 MAJOR GROWTH STRATEGY IN THE GLOBAL GENSETS MARKET
12.4 COMPETITIVE BENCHMARKING
12.5 MARKET SHARE ANALYSIS
12.6 KEY DEVELOPMENTS & GROWTH STRATEGIES
12.6.1 NEW PRODUCT LAUNCH/SERVICE DEPLOYMENT
12.6.2 MERGER & ACQUISITION
12.6.3 JOINT VENTURES, PARTNERSHIP, EXPANSION, INVESTMENT, CONTRACT, & COLLABORATION
13 COMPANY PROFILES
13.1 CUMMINS INC.
13.1.1 COMPANY OVERVIEW
13.1.2 FINANCIAL OVERVIEW
13.1.3 PRODUCTS OFFERED
13.1.4 KEY DEVELOPMENTS
13.1.5 SWOT ANALYSIS
13.1.6 KEY STRATEGY
13.2 CATERPILLAR INC.
13.2.1 COMPANY OVERVIEW
13.2.2 FINANCIAL OVERVIEW
13.2.3 PRODUCTS OFFERED
13.2.4 KEY DEVELOPMENTS
13.2.5 SWOT ANALYSIS
13.2.6 KEY STRATEGY
13.3 AGGREKO LTD
13.3.1 COMPANY OVERVIEW
13.3.2 FINANCIAL OVERVIEW
13.3.3 PRODUCTS OFFERED
13.3.4 SWOT ANALYSIS
13.3.5 KEY STRATEGY
13.4 GENERAC HOLDINGS INC.
13.4.1 COMPANY OVERVIEW
13.4.2 FINANCIAL OVERVIEW
13.4.3 PRODUCTS OFFERED
13.4.4 KEY DEVELOPMENTS
13.4.5 SWOT ANALYSIS
13.4.6 KEY STRATEGY
13.5 KOHLER CO.
13.5.1 COMPANY OVERVIEW
13.5.2 PRODUCTS OFFERED
13.5.3 KEY DEVELOPMENTS
13.5.4 SWOT ANALYSIS
13.5.5 KEY STRATEGY
13.6 ATLAS COPCO
13.6.1 COMPANY OVERVIEW
13.6.2 PRODUCTS OFFERED
13.6.3 FINANCIAL OVERVIEW
13.6.4 KEY DEVELOPMENTS
13.6.5 SWOT ANALYSIS
13.6.6 KEY STRATEGY
13.7 JOHN DEERE
13.7.1 COMPANY OVERVIEW
13.7.2 PRODUCTS OFFERED
13.7.3 FINANCIAL OVERVIEW
13.7.4 KEY DEVELOPMENTS
13.7.5 SWOT ANALYSIS
13.7.6 KEY STRATEGY
13.8 MTU ONSITE ENERGY
13.8.1 COMPANY OVERVIEW
13.8.2 PRODUCTS OFFERED
13.8.3 KEY DEVELOPMENTS
13.8.4 SWOT ANALYSIS
13.8.5 KEY STRATEGY
13.9 WARTSILA
13.9.1 COMPANY OVERVIEW
13.9.2 FINANCIAL OVERVIEW
13.9.3 PRODUCTS OFFERED
13.9.4 KEY DEVELOPMENTS
13.9.5 SWOT ANALYSIS
13.9.6 KEY STRATEGY
13.10 YANMAR CO. LTD.
13.10.1 COMPANY OVERVIEW
13.10.2 PRODUCTS OFFERED
13.10.3 KEY DEVELOPMENTS
13.10.4 SWOT ANALYSIS
13.10.5 KEY STRATEGY
13.11 KIRLOSKAR ELECTRIC COMPANY LIMITED
13.11.1 COMPANY OVERVIEW
13.11.2 FINANCIAL OVERVIEW
13.11.3 PRODUCTS OFFERED
13.11.4 SWOT ANALYSIS
13.11.5 KEY STRATEGY
13.12 GREAVES COTTON LIMITED
13.12.1 COMPANY OVERVIEW
13.12.2 FINANCIAL OVERVIEW
13.12.3 PRODUCTS OFFERED
13.12.4 KEY DEVELOPMENTS
13.12.5 SWOT ANALYSIS
13.12.6 KEY STRATEGY
14 APPENDIX
14.1 REFERENCES