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Commercial Standby Generator Sets Market Trends

Report ID: GMI4447
Published Date: Jun 2024
Report Format: PDF

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Commercial Standby Generator Sets Market Trends

The industry is poised for significant growth owing to their versatile & adaptability in line with enhanced efficiency and reliability. Continuous innovation in generator sets technologies including engine efficiency, advanced control systems, and real time monitoring capabilities combined with increasing demand for uninterrupted power supply will accelerate the business outlook. Moreover, rising environmental concerns and strict emissions norms and policies are the key factors, which in turn will boost the adoption of generator sets.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of commercial standby generator sets was worth USD 6.6 billion in 2023 and will grow at 7.8% CAGR between 2024 and 2032, due to increasing demand for uninterrupted power supply in critical sectors along with growing industrialization and urbanization in developing regions.

The diesel-fueled commercial standby generator sets market will garner 5.5% CAGR through 2032, driven by the widespread availability of diesel fuel and the relatively lower operating costs compared to other fuels.

Asia Pacific commercial standby generator sets industry will surpass USD 8.5 billion by 2032, attributed to rapid urbanization and industrialization, and the rising demand for reliable power supply in commercial and industrial sectors.

Atlas Copco, Caterpillar, Cooper Corp., Cummins, Inc., Generac Power Systems, Inc., Green Power International Pvt. Ltd, J C Bamford Excavators Ltd., Kirloskar, Kohler, Mitsubishi Heavy Industries, Ltd., Rolls-Royce plc, and Siemens Energy among others.