Industrial Generator Sets Market: Introduction
- Industrial generator sets are used for power generation through a combination of an engine (driver) and an alternator (driven). Major factors that affect the performance of industrial generator sets include the material of construction, size or capacity, design mechanism, operating speed, type of fuel, type of cooling, and operating mechanism. Rise in demand for reliable and uninterrupted power supply due to development of industrial real-estate, increase in manufacturing of goods, and rapid industrialization is expected to drive the demand for industrial generator sets during the forecast period.
Key Drivers and Opportunities of Global Industrial Generator Sets Market
- Industrial generator sets have been gaining popularity for the last few years due to the various advantages offered such as long maintenance interval, low temperature starting capacity, high power density, etc. Industrial generator sets are efficient and simple, as they consume less fuel due to the development of a common rail injection engine, which consumes less fuel and generates less noise. Increase in industrial applications and rise in construction activities are expected to drive the global industrial generator sets market during the forecast period.
- Manufacturers are developing new generator sets that fuel-efficient and generate less sound. Manufacturers are also emphasizing on the manufacture of generator sets that offer optimum performance, reliability, and versatility for stationary standby and prime power applications that require less space. Furthermore, key manufacturers are engaged in the design and manufacture of support back-up and prime power generators, ranging from 2 kilowatts to 3.5 megawatts, as well as controls, paralleling systems, and transfer switches for applications, such as consumer, commercial, industrial, data centers, and wastewater treatment plants. These factors are expected to drive the industrial generator sets market during the forecast period.
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North America to Hold Major Share of Global Industrial Generator Sets Market
- In terms of region, the global industrial generator sets market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- The market in North American is projected to expand at a significant growth rate due to the expansion of the food service industry, coupled with a steady rise in the number of tourist arrivals in the region
- Furthermore, the market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to a rise in the demand for industrial generator sets and product innovation and launches in the region
Key Players Operating in Global Industrial Generator Sets Market
- Atlas Copco
- Briggs & Stratton Corporation
- C&S Electric Limited
- Caterpillar Inc.
- Cummins Inc.