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Global Industrial Generator Sets Market Size, Share, Analysis, Forecast: By Power Rating: Less than 75 kVA, 75 – 375 kVA, 375 – 750 kVA, Greater than 750 kVA; By Fuel: Diesel, Gas, Others; By Application: Standby, Peak Shaving, Prime/Continuous, Others; By End Use: Oil and Gas, Manufacturing, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Industrial Generator Sets Market Outlook
The global industrial generator sets market is expected to grow at a CAGR of 5.5% in the forecast period of 2024-2032.
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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. 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.
Industrial Generator Sets Market Segmentation
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.
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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 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.
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Rapid Industrialisation to Aid the Market Growth of Industrial Generator Sets
The global industrial generator sets industry 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.
Key Industry Players in the Global Industrial Generator Sets Market
The report gives a detailed analysis of the following key players in the global industrial generator sets market, 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.
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:
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| Breakup by Power Rating |
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| Breakup by Fuel |
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| Breakup by Application |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Industrial Generator Sets Market Analysis
8.1 Key Industry Highlights
8.2 Global Industrial Generator Sets Historical Market (2018-2023)
8.3 Global Industrial Generator Sets Market Forecast (2024-2032)
8.4 Global Industrial Generator Sets Market by Power Rating
8.4.1 Less than 75 kVA
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 75 – 375 kVA
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 375 – 750 kVA
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Greater than 750 kVA
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.5 Global Industrial Generator Sets Market by Fuel
8.5.1 Diesel
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Gas
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Industrial Generator Sets Market by Application
8.6.1 Standby
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Peak Shaving
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Prime/Continuous
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Industrial Generator Sets Market by End Use
8.7.1 Oil and Gas
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Manufacturing
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Construction
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Electric Utilities
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Mining
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.7.6 Transport and Logistics
8.7.6.1 Historical Trend (2018-2023)
8.7.6.2 Forecast Trend (2024-2032)
8.7.7 Others
8.8 Global Industrial Generator Sets Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Industrial Generator Sets Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Industrial Generator Sets Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Industrial Generator Sets Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Industrial Generator Sets Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Industrial Generator Sets Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Cummins Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Kirloskar Oil Engines Limited (KOEL)
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Generac Power Systems, Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Himoinsa S.L
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Atlas Copco Group
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Industrial Generator Sets Market: Key Industry Highlights, 2018 and 2032
2. Global Industrial Generator Sets Historical Market: Breakup by Power Rating (USD Billion), 2018-2023
3. Global Industrial Generator Sets Market Forecast: Breakup by Power Rating (USD Billion), 2024-2032
4. Global Industrial Generator Sets Market Forecast: Breakup by Fuel (USD Billion), 2024-2032
5. Global Industrial Generator Sets Market Forecast: Breakup by Fuel (USD Billion), 2024-2032
6. Global Industrial Generator Sets Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Industrial Generator Sets Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Industrial Generator Sets Historical Market: Breakup by End Use (USD Billion), 2018-2023
9. Global Industrial Generator Sets Market Forecast: Breakup by End Use (USD Billion), 2024-2032
10. Global Industrial Generator Sets Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Industrial Generator Sets Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Industrial Generator Sets Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Industrial Generator Sets Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Industrial Generator Sets Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Industrial Generator Sets Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Industrial Generator Sets Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Industrial Generator Sets Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Industrial Generator Sets Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Industrial Generator Sets Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Industrial Generator Sets Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Industrial Generator Sets Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Industrial Generator Sets Market Structure
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.
Analyst Review
The global industrial generator sets market is being driven by the rising demand for reliable power supply. Aided by the increasing demand across a variety of industries and rapid industrialisation, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.5%.
EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By power rating, the market can be segmented into 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. Based on application, the market can be distributed into standby, peak shaving, and prime/continuous, among others. The major end use segments of the product include oil and gas, manufacturing, construction, electric utilities, mining, and transport and logistics, among others. The major regional market for industrial generator sets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. 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.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.
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