USD 11.2 billion
Report ID:
SQMIG20D2165 |
Region:
Global |
Published Date: February, 2025
Pages:
157
|Tables:
93
|Figures:
78
Global Commercial Gensets Market size was valued at USD 11.2 billion in 2023 and is poised to grow from USD 11.88 billion in 2024 to USD 19.08 billion by 2032, growing at a CAGR of 6.1% during the forecast period (2025-2032).
The market for commercial generators, often referred to as gensets, is characterized by steady growth and evolving trends. Key drivers include a growing demand for reliable power supply solutions in various industries, such as manufacturing, healthcare, and telecommunications. Businesses continue to invest in backup power systems to mitigate the impact of unexpected power outages, ensuring uninterrupted operations.
Additionally, increasing environmental concerns have led to a shift towards more eco-friendly genset solutions, with a notable emphasis on cleaner technologies and reduced emissions. The market is witnessing notable innovations in genset design and fuel efficiency, reflecting the industry's commitment to sustainability.
As a result, the commercial gensets market is poised for continued expansion, driven by the need for dependable power sources and a growing focus on environmental responsibility.
US Commercial Gensets Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
USD 11.2 billion
Largest Segment
Diesel
Fastest Growth
Diesel
Growth Rate
6.1% CAGR
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Global Commercial Gensets Market is segmented by Mobility Type, Fuel Type, Application, End-User and region. Based on Mobility Type, the market is segmented into Stationary and Mobile. Based on Fuel Type, the market is segmented into Diesel, Gas and Others. Based on Application, the market is segmented into Standby, Peak Shaving and Prime/Continuous. Based on End-User, the market is segmented into Telecom, Healthcare, Data Centers, Educational Institutions, Government Centers, Hospitality, Retail Sales, Real Estate, Infrastructure and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
The > 200 kVA - 330 kVA power rating segment currently dominates the commercial gensets market. This is primarily due to its wide applicability across various industries, including data centers, manufacturing, and healthcare, where a reliable power supply within this power range is crucial for uninterrupted operations.
However, the > 330 kVA - 750 kVA power rating segment is experiencing the fastest growth. This growth can be attributed to the increasing demand for larger power capacities, driven by expanding industries and infrastructure development. Moreover, advancements in technology have led to more efficient and compact genset solutions in this range, making them increasingly attractive to a wide range of businesses seeking both reliability and scalability.
Diesel remains the dominant fuel source in the commercial gensets market, owing to its well-established infrastructure, reliability, and high energy density, making it suitable for various industrial applications.
However, Hybrid gensets are experiencing the fastest growth. This is primarily due to increasing environmental regulations and a growing emphasis on sustainability. Hybrid gensets combine conventional fuels like diesel or gas with cleaner energy sources such as batteries or renewables, offering improved efficiency and reduced emissions, aligning with the evolving eco-conscious market demands. This growth trajectory is expected to continue as environmental concerns and energy efficiency become more critical factors for businesses and industries.
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North America currently dominates the global commercial gensets market due to its established industrial infrastructure, stringent regulations concerning power reliability, and a mature market for backup power solutions. High levels of industrialization, a robust data center industry, and a focus on disaster preparedness have contributed to sustained demand for commercial gensets in the region.
However, the Asia Pacific region is experiencing the fastest growth in the commercial gensets market. This growth can be attributed to rapid urbanization, industrial expansion, and increasing commercial activities in emerging economies like India and China. Rising concerns about power stability and a growing need for backup power sources, particularly in remote areas, are driving the adoption of commercial gensets. Additionally, efforts to modernize the power infrastructure and the expansion of critical industries are fueling market expansion in this region.
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Growing Demand for Data Centers
Environmental Regulations and Sustainability Concerns
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The competitive landscape in the commercial gensets market is characterized by intense rivalry among a range of manufacturers and suppliers. Companies in this industry are continually striving to differentiate themselves through product innovation, reliability, and eco-friendly solutions.
Market players often focus on expanding their product portfolios, improving fuel efficiency, and adhering to stringent emission regulations to gain a competitive edge. Partnerships and strategic collaborations are also common strategies for market participants, aiming to enhance their global reach and offer comprehensive solutions to their customers.
As the demand for reliable power backup solutions continues to rise, competition remains a driving force, fostering innovation and advancement within the industry.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to global commercial gensets market analysis, the market has exhibited steady growth in recent years, driven primarily by the increasing need for reliable backup power solutions across various industries. Factors such as aging power infrastructure, rising instances of power outages, and the expanding data center industry have bolstered demand for commercial gensets worldwide.
Furthermore, the adoption of gensets is driven by stringent regulations governing power reliability and the necessity to ensure uninterrupted operations in critical sectors.
Looking ahead, the commercial gensets market is expected to continue its growth trajectory, albeit with notable transformations. The industry is likely to witness a greater emphasis on sustainability, with manufacturers increasingly incorporating cleaner and more energy-efficient technologies into their products.
Hybrid and renewable energy solutions are poised to gain prominence, aligning with global efforts to reduce carbon emissions. Additionally, the Asia-Pacific region is anticipated to remain a significant growth driver, fueled by rapid industrialization and urbanization.
Overall, the market's evolution will be characterized by innovation, environmental responsibility, and an ongoing commitment to delivering reliable power solutions in an ever-changing world.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 11.2 billion |
Market size value in 2032 | USD 19.08 billion |
Growth Rate | 6.1% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Commercial Gensets Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Commercial Gensets Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Commercial Gensets Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Commercial Gensets Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Commercial Gensets Market size was valued at USD 15.66 Billion in 2023 and is poised to grow from USD 16.67 Billion in 2024 to USD 27.53 Billion by 2032, growing at a CAGR of 6.47% during the forecast period (2025-2032).
The competitive landscape in the commercial gensets market is characterized by intense rivalry among a range of manufacturers and suppliers. Companies in this industry are continually striving to differentiate themselves through product innovation, reliability, and eco-friendly solutions. 'Cummins (US)', 'Kirloskar (India)', 'Caterpillar (US)', 'Trane (US)', 'Yamaha Motor Co. (Japan)', 'Atlas Copco (Sweden)', 'J C Bamford Excavators Ltd. (UK)', 'MAHINDRA POWEROL (India)', 'Deere & Company (US)', 'ASHOK LEYLAND (India)', 'MITSUBISHI HEAVY INDUSTRIES (Japan)', 'Siemens AG (Germany)', 'Supernova Genset (India)', 'Kohler (US)', 'Sudhir Group (India)', 'Aggreko (UK)', 'Huu Toan (Vietnam)', 'Rolls-Royce (UK)', 'Powerica Limited (India)', 'HIMOINSA (Spain)', 'Wärtsilä (Finland)', 'Honda Motor Co. (Japan)'
The increasing demand for data centers is a significant driver in the commercial gensets market. Data centers require uninterrupted power supply to maintain their critical operations. As data usage continues to surge due to digitalization and cloud computing, the need for reliable backup power sources, such as commercial gensets, has grown substantially, driving market growth.
Transition to Sustainable and Alternative Energy Sources : As environmental concerns continue to grow, businesses and industries are exploring cleaner and greener power generation options, such as solar, wind, and battery storage systems. This trend is influencing genset manufacturers to innovate and integrate hybrid and renewable energy solutions into their products, offering customers more eco-friendly and efficient power generation alternatives. As a result, the market is witnessing a transformation towards more sustainable and environmentally responsible power backup solutions.
North America currently dominates the global commercial gensets market due to its established industrial infrastructure, stringent regulations concerning power reliability, and a mature market for backup power solutions. High levels of industrialization, a robust data center industry, and a focus on disaster preparedness have contributed to sustained demand for commercial gensets in the region.
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Report ID: SQMIG20D2165
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