Add 2 More Reports For 20% off

Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Industrial Generator Sets Market Size

The global market for industrial generator sets is expected to grow at a CAGR of 5.5% in the forecast period of 2024-2032.

Global Industrial Generator Sets Market Report Summary Description Value
Base Year USD Million 2023
Historical Period USD Million 2018-2023
Forecast Period USD Million 2024-2032
Market Size 2023 USD Million XX
Market Size 2032 USD Million XX
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 5.5%
CAGR 2024-2032 - Market by Region Asia Pacific 7.1%
CAGR 2024-2032 - Market by Country India 8.2%
CAGR 2024-2032 - Market by Country Saudi Arabia 6.2%
CAGR 2024-2032 - Market by Power Rating Greater than 750 kVA 6.1%
CAGR 2024-2032 - Market by Fuel Gas 6.3%
Market Share by Country 2023 Brazil 2.9%

Industrial Generator Sets Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Rapid Industrialisation to Aid the Industrial Generator Sets Market Growth

The growth of the industrial generator sets market is expected to be boosted by the rising demand for reliable power supply as a result of infrastructure expansion, real estate growth, and rapid industrialisation. The need to increase generation capacity to meet increasing demand across a variety of industries would hold these units in operation and drive demand. Industrial gensets are widely used because of their rapid response, dependability, and ease of operation. The demand will be stimulated by the increasing severity and frequency of weather events resulting in extended outages, as well as the continued deployment of gensets as a primary power source throughout the industrial sector.

Industrial Generator Sets Market Trends

The rising advancements in generator technology is a crucial trend in industrial generator sets market. The new-gen generators are equipped with IoT and smart grid technologies to enhance the efficiency and reliability of the generators and make them more user-friendly.

Recent Developments

As per the industrial generator sets market dynamics and trends, Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET) announced the launch of the MGS3100R model of the MGS-R series, a generator set for commercial and mission-critical applications, in August 2023.

Industry Outlook

According to the industrial generator sets industry analysis, the crude oil production in India in May 2024 was 23 MMT, whereas the natural gas production for the same month was 3.15 BCM. The refining capacity of India stood at the value of 256.8 MMTPA, consisting of 23 refineries, in April 2024 and the country aims to increase the refining capacity to 450 MMTPA by 2030. The total import of crude oil in India was 43.1 MMT in Apr-May 2024, whereas it was 40.6 MMT in Apr-May 2023. This growth of the oil and natural gas sector is expected to boost the demand for industrial generators.

As per the industry reports, the total construction spending in the US was around USD 1.98 trillion in 2023. The construction sector has around 745,000 businesses in the country and accounts for around 4.3% of the country’s GDP. The construction spending in the country increased by around 4.8% from 2019 to 2020, in which total construction spending in 2020 was USD 1.43 trillion. This surge in construction activities is further expected to boost the growth of the industrial generator sets industry.

As per the Indian government data, the manufacturing sector in India is expected to reach USD 1 trillion in 2025-26. The manufacturing sector in the country is led by Gujarat, Tamil Nadu, and Maharashtra due to growing investments in electronic, automobile and textile industries as well as government initiatives such as Make in India, which can increase industrial generator demand and boost the industrial generator sets industry revenue.

Increasing Demand and Technological Advancements Strengthening the Global Market

  • Growing demand for uninterrupted power supply in industrial applications.
  • Advancements in generator efficiency, noise reduction, and fuel consumption aid industrial generator sets demand growth.
  • Strong regulatory support for reliable power infrastructure.
  • Established market presence of key players with robust R&D capabilities.

High Costs and Environmental Concerns Weakening the Global Market

  • High initial costs of industrial generator systems.
  • Environmental concerns related to emissions and fuel usage.
  • Dependence on fuel availability and price fluctuations.
  • Limited infrastructure for advanced generator technologies in developing regions can negatively impact industrial generator sets demand forecast.

Advancements in the Global Market

  • Development of high-efficiency diesel and gas generator sets with lower emissions and fuel consumption.
  • Focus on hybrid generator solutions combining renewable energy sources with traditional fuels to enhance sustainability.
  • Introduction of smart generator systems with IoT integration for real-time monitoring and maintenance.
  • Advancements in noise reduction technologies for quieter generator operation in industrial settings can boost industrial generator sets market revenue.
  • Development of portable and modular generator sets for flexible and scalable power solutions.

Renewable Energy Integration and R&D Investment Offering Opportunities in the Global Market

  • Expansion of renewable energy integration with generator systems to create hybrid power solutions.
  • Growing investment in R&D for innovative generator technologies.
  • Rising adoption of smart grid solutions and energy storage systems.
  • Emerging markets and increasing industrialization in developing regions can increase industrial generator sets market value.
  • Opportunities for retrofitting and upgrading existing generator infrastructure with advanced technologies.

Competition and Regulatory Compliance Can Pose Risk to the Global Market

  • Intense competition from alternative power solutions like renewable energy and battery storage systems.
  • Regulatory hurdles and varying international standards for emissions and safety.
  • Environmental concerns related to generator emissions and fuel disposal can reduce industrial generator sets market opportunities.
  • Economic downturns impacting industrial activities and investment in new generator sets.

Key Players in the Global Industrial Generator Sets Market Share and their Strategic Initiatives:

Caterpillar Inc.:

  • Product Innovation: Focus on developing advanced generator sets with higher efficiency, reduced emissions, and enhanced performance.
  • Expansion in Emerging Markets: Targeting growth in emerging markets through strategic partnerships and localized manufacturing.
  • Digital Solutions: Integration of digital technologies for remote monitoring and maintenance, improving reliability and operational efficiency, can boost the industrial generator sets demand.

Cummins Inc.:

  • Sustainability Focus: Investing in cleaner technologies, including hybrid and alternative fuel generator sets to meet stringent environmental regulations.
  • Global Expansion: Strengthening presence in international markets through acquisitions, joint ventures, and strategic alliances.
  • Technological Advancements: Emphasizing research and development to innovate in areas like fuel efficiency, noise reduction, and digital connectivity can increase the demand of industrial generator sets market.

Generac Holdings Inc.:

  • Market Diversification: Expanding product portfolio to include a wide range of power solutions for various industrial applications.
  • Service Enhancement: Offering comprehensive service packages, including installation, maintenance, and remote monitoring.
  • Brand Strengthening: Leveraging brand reputation through marketing campaigns and customer engagement initiatives.

Kohler Co.:

  • Innovation and Quality: Commitment to high-quality manufacturing standards and continuous product innovation can increase the industrial generator sets market share.
  • Customer-Centric Approach: Providing customized power solutions tailored to specific industrial needs.
  • Sustainability Efforts: Developing eco-friendly generator sets and reducing the environmental impact of operations.

Atlas Copco:

  • Energy Efficiency: Designing generator sets that maximize fuel efficiency and minimize operational costs.
  • Global Reach: Expanding distribution networks and enhancing service capabilities worldwide can aid industrial generator sets industry expansion.
  • Technological Integration: Incorporating smart technologies for predictive maintenance and improved operational efficiency.

MTU Onsite Energy (a Rolls-Royce Power Systems Company):

  • Technological Leadership: Investing heavily in R&D to offer cutting-edge power generation solutions.
  • Sustainable Solutions: Focus on renewable energy integration and low-emission generator sets.
  • Customer Support: Enhancing after-sales service and support to ensure high customer satisfaction can aid industrial generator sets industry development.

Mitsubishi Heavy Industries, Ltd.:

  • Innovation Drive: Emphasis on innovation to develop advanced and efficient power generation systems.
  • Market Penetration: Strengthening market presence through strategic partnerships and regional expansions.
  • Sustainability Commitment: Developing eco-friendly products and focusing on reducing carbon footprint.

Industrial Generator Sets Market By Segments

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Industrial Generator Sets Industry Segmentations

A generator set or a genset is a device that combines a prime mover (usually an engine) with an alternator. The chemical energy of a fuel is converted to mechanical energy by an engine. For example, a diesel genset is created when a generator is used in combination with a diesel engine. An industrial genset are gensets used in heavy duty industrial work and various other end use industries.

In terms of power rating, the market is divided into:

  • Less than 75 kVA
  • 75 – 375 kVA
  • 375 – 750 kVA
  • Greater than 750 kVA

The market is segregated on the basis of fuel into:

  • Diesel
  • Gas
  • Others

The industrial generator sets market is divided in terms of application into:

  • Standby
  • Peak Shaving
  • Prime/Continuous
  • Others

The market is segmented in terms of end use into:

  • Oil and Gas
  • Manufacturing
  • Construction
  • Electric Utilities
  • Mining
  • Transport and Logistics
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

CAGR 2024-2032 - Market by Country
India 8.2%
Saudi Arabia 6.2%
Australia 4.8%
USA 4.5%
Japan 4.3%
Canada XX%
UK XX%
Germany XX%
France XX%
Italy XX%
China XX%
Brazil XX%
Mexico XX%

Competitive Landscape

The report gives a detailed analysis of the following key players in the global industrial generator sets industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Cummins Inc.
  • Kirloskar Oil Engines Limited (KOEL)
  • Generac Power Systems, Inc.
  • Himoinsa S.L
  • Atlas Copco Group
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Industrial Generator Sets Market By Region

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Industrial Generator Sets Market Regional Analysis

Lower Operating Costs in the Asia Pacific to Aid the Market Growth of Industrial Generator Sets

The Asia Pacific region is projected to grow at a healthy rate in the forecast period. Lower operating costs in this region is attracting businesses from larger manufacturing bases, allowing for more industrial generator sets to be deployed. Furthermore, the area is developing itself as a low-cost automotive production and export centre, which will accelerate the deployment of these devices. As per the industrial generator sets market analysis, the growing importance of reliable backup power solutions, combined with the financial and output losses associated with outages at manufacturing facilities, would benefit industry expansion. Furthermore, the recent implementation of relevant legislation favouring the revival of mining activities will provide additional impetus to the industry's development.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Power Rating
  • Fuel
  • Application
  • End Use
  • Region
Breakup by Power Rating
  • Less than 75 kVA
  • 75 – 375 kVA
  • 375 – 750 kVA
  • Greater than 750 kVA
Breakup by Fuel
  • Diesel
  • Gas
  • Others
Breakup by Application
  • Standby
  • Peak Shaving
  • Prime/Continuous
  • Others
Breakup by End Use
  • Oil and Gas
  • Manufacturing
  • Construction
  • Electric Utilities
  • Mining
  • Transport and Logistics
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Cummins Inc.
  • Kirloskar Oil Engines Limited (KOEL)
  • Generac Power Systems, Inc.
  • Himoinsa S.L
  • Atlas Copco Group
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

Industrial Generator Sets Market Report Snapshots

Industrial Generator Sets Market Size

Industrial Generator Sets Market Growth

Industrial Generator Sets Market Trends

Industrial Generator Sets Companies

Industrial Generator Sets Market Regional Analysis

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

Looking for specific insights?

Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!

Key Questions Answered in the Report

The global industrial generator sets market is projected to grow at a CAGR of 5.5% between 2024 and 2032.

The major drivers of the market include the growing real estate industry, increasing demand across a variety of industries, increasing severity and frequency of weather events, deployment of gensets, and implementation of relevant legislation favouring the revival of mining activities.

The rising demand for reliable power supply and rapid industrialisation are the key industry trends propelling the market growth.

The major regions in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The different power ratings are less than 75 kVA, 75 – 375 kVA, 375 – 750 kVA, and greater than 750 kVA.

The market is segregated, on the basis of fuel, into diesel, and gas, among others.

The different applications include standby, peak shaving, and prime/continuous, among others.

The major end uses include oil and gas, manufacturing, construction, electric utilities, mining, and transport and logistics, among others.

The major players in the industry are Cummins Inc., Kirloskar Oil Engines Limited (KOEL), Generac Power Systems, Inc., Himoinsa S.L, and Atlas Copco Group, among others.

Purchase Full Report

Datasheet

 

USD 2,199

USD 1,999

tax inclusive*

  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

One User

USD 3,299

USD 2,999

tax inclusive*

  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

Five Users

USD 4,399

USD 3,999

tax inclusive*

  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

Unlimited Users

USD 5,499

USD 4,999

tax inclusive*

  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

How To Order

Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.

Select License Type

Choose the right license for your needs and access rights.

Click on ‘Buy Now’

Add the report to your cart with one click and proceed to register.

Select Mode of Payment

Choose a payment option for a secure checkout. You will be redirected accordingly.

Strategic Solutions for Informed Decision-Making

Connect For More Information

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.

Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.

We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.

We’re here to help answer any questions about our products and services.

Contact us

Our Offices


Australia

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

India

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

Philippines

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.

+63 287899028, +63 967 048 3306

United Kingdom

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

United States (Head Office)

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

Vietnam

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124