Global Commercial Gensets Market

Global Commercial Gensets Market Size, Share, Growth Analysis, By Power rating(≤ 50 kVA, > 50 kVA - 125 kVA), By Fuel(Diesel, Gas), By Application(Standby, Peak Shaving) - Industry Forecast 2024-2031

Report ID: SQMIG20D2165 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 93 | Figures: 78

Global Commercial Gensets Market Insights

Global Commercial Gensets Market size was valued at USD 14.71 billion in 2022 and is poised to grow from USD 15.66 billion in 2023 to USD 25.86 billion by 2031, growing at a CAGR of 6.47% during the forecast period (2024-2031).

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.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Commercial Gensets Market size was valued at USD 14.71 billion in 2022 and is poised to grow from USD 15.66 billion in 2023 to USD 25.86 billion by 2031, growing at a CAGR of 6.47% during the forecast period (2024-2031).

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.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

Click here right-arrow
logo-images

Related Reports

Global Automotive Cockpit Electronics Market
Buy Now GET FREE SAMPLE
Global Battery Technology Market
Buy Now GET FREE SAMPLE
LED Panel Light Market
Buy Now GET FREE SAMPLE
Global Photocatalyst Market
Buy Now GET FREE SAMPLE

Feedback From Our Clients

Global Commercial Gensets Market

Product ID: SQMIG20D2165

$5,300
BUY NOW GET FREE SAMPLE