A genset refers to an equipment whose function is to convert heat capacity into mechanical energy and then into electrical energy. It consists of a motor and an alternator that is joined and inserted in a base with other elements. An engine generator set is more commonly known as genset. Although most engine driven generators have been viewed as dangerous to the environment, they offer various advantages to industrial users. They are generally rated in terms of torque or horsepower, Kilowatts or watts. The main components of an engine driven generator includes a fuel supply mechanism, engine, a generator voltage regulator, a constant engine speed regulator, lubrication system, and cooling & exhaust systems.
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Key Drivers of the Gasoline Genset Market
Increasing consumer awareness about backup power solutions, and severity of weather outages are the key factors anticipated to drive the gasoline genset market during the forecast period. Households, electric vehicles, and production & manufacturing companies are large consumers of electricity. The increasing consumption of electricity is likely to drive the gasoline genset market in the next few years. Creating electricity backup is one of the major uses of gasoline gensets. Additionally, prolonged power supply interruptions mainly on account of high winds, sleet storms, and freezing rain which destroy power lines and equipment will continue to drive product deployment worldwide. Furthermore, increased consumer awareness, rising power demand, fragile power grid systems, and prolonged power outages are among the most notable trends that will enhance the global gasoline genset market.
Introduction of new series of gas genset – opportunities in the gasoline genset market
Companies are revamping new generator series to enhance and drive demand for the product. The new series are designed to provide reliable power regardless of the natural gas source or the climate, including in high temperatures of up to 55°C and at high altitudes. The new generator series have been designed to push the boundaries of performance to extremes while achieving low total cost of ownership. The fuel flexibility of the new series allows the use of low-cost, low-BTU, and free fuel sources that would otherwise be considered waste products. These factors create new opportunities in the gasoline genset market.
Fatal poisonous gas – a restraint of the gasoline genset market
Exhaust fumes emitted by generator sets contain poisonous gases such as carbon monoxide that can be life threatening and result in death. This can hamper and restrict the growth of the market. Exhaust systems must be properly installed, adequate ventilation must be provided to ensure unobstructed flow of cooling and ventilating air, and emissions must be directed away from inhabited zones. The area around the generator must be clean and free of clutter and any combustible material that can be hazardous.
Asia Pacific the dominant market
China, India, and Japan dominate the gasoline genset market. Lifestyle and work cultures have changed due to rising globalization and urbanization, which have eventually increased the usage of electricity. Households, electric vehicles, and production & manufacturing companies are large consumers of electricity. The increasing consumption of electricity is likely to drive the gasoline genset market in the next few years, thus offering new opportunities in the region.
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Key Players Operating in the Global Market
Companies are working on product innovation and development to expand their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level.
Some of the major companies identified in the gasoline genset market are:
- Armstrong Power
- SUMEC Machinery & Electric Co., Ltd.
- Kirloskar
- Generac
- Jet Power Company
- Kohler Power
- Honeywell
- SUMBER MAS SEJAHTERA
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