Construction Generator Sets Market Size - By Power Rating (≤ 50 kVA, > 50 kVA - 125 kVA, > 125 kVA - 200 kVA, > 200 kVA - 330 kVA, > 330 kVA - 750 kVA, > 750 kVA), Fuel (Diesel, Gas), Application (Standby, Prime/Continuous) & Global Forecast, 2024 – 2034

Construction Generator Sets Market Size

Construction Generator Sets Market size was valued at USD 5.9 billion in 2023 and is estimated to expand at 8.9% CAGR from 2024 to 2034. Growing focus on fuel-efficient and environmentally friendly power generating systems along with flourishing real estate sector will augment the business landscape. For instance, the real estate investment across the Asia Pacific witnesses a growth of about from the year 2022 to 2023.
 

Stringent government focus toward limiting carbon emissions along with increasing demand for portable gensets will positively impact the generator sets market. These systems play a crucial role in ensuring a reliable and consistent power supply in construction environments, contributing to the efficiency and productivity of various infrastructural projects. The integration of smart technologies comprising of IoT (Internet of Things) and telematics which in turn will offer significant opportunities for business expansion.

A construction genset refers to a generator set or genset specifically designed and used in construction settings. A generator set is a combination of an engine and an alternator (generator) that is used to generate electrical power. Construction gensets are portable power solutions commonly employed at construction sites where a stable and reliable power source is needed for various tools, equipment, and machinery.
 

COVID– 19 Impact

The economic uncertainty resulting from the pandemic has resulted in a reduction in real estate investments. The extensive adoption of remote work by businesses has subsequently decreased office occupancy rates and dampened overall product demand. The construction sector has been severely affected, with numerous sites experiencing temporary closures and delays owing to strict lockdown measures and restricted mobility. Additionally, the global supply chain disruption has led to considerable setbacks in the production, delivery, and installation processes of gensets.
 

Construction Generator Sets Market Trends

Construction sites often operate in remote locations where access to a reliable power grid may be limited. This drives the demand for generator sets to provide a stable power supply for construction equipment and tools. Surging consumer focus toward reducing carbon footprints coupled with growing adoption of hybrid gensets will favor the business scenario. Rising demand for systems that are more fuel-efficient, emit fewer emissions, and incorporate renewable energy sources will further drive the industry growth.
 

Construction Generator Sets Market Analysis

Based on fuel, the gas generator sets industry size will witness growth rate of 9.9% by 2034. The rising emphasis on energy efficiency and cost savings is fueling a consumer shift toward clean energy solutions, driving increased demand for products in this sector. The growing popularity of decentralized power generation, especially in off-grid and remote locations, is a key factor propelling this business trend. Additionally, government incentives, regulations, and the industry's commitment to environmental sustainability are contributing to a favorable scenario.
 

Based on power rating, the > 330 kVA - 750 kVA rated construction generator sets market holds a revenue share of over 20% in 2023. The rising need for dependable backup power solutions, combined with the increasing number of construction and infrastructure development projects, is expected to drive the widespread adoption of these units.
 

The surge in urbanization and population density, coupled with the expansion of commercial and retail spaces, will additionally fuel the business growth. Furthermore, the expansion of the hospitality industry and a growing emphasis on green buildings are anticipated to further contribute to the increasing momentum in this sector. For instance, the hotel industry recorded an investment of above USD 3 billion in the year 2023.
 

Based on application, the construction generator sets market from prime power generator application segment is set to surpass USD 2.5 billion by 2034. These gensets industry is set to be significantly influenced in the coming years by the heightened rigor of environmental regulations, emphasis on cost reduction, prioritization of energy efficiency, and a focus on cleaner energy sources. These gensets are increasingly recognized for their prevalence and strategic significance in addressing inevitable power deficits, standing out among various alternative power sources.
 

The North America construction generator sets market size dominated around USD 1 billion in 2023. The rising demand for backup power solutions, driven by the imperative for grid resiliency in the wake of extreme weather events like hurricanes and winter storms, is set to create a positive business environment. For instance, the U.S, was impacted by two tropical hurricanes last year.
 

Moreover, the paradigm shift emissions reduction and technological advancements will contribute to the increased adoption of cleaner and more efficient power systems. The healthcare and data center sectors, witnessing robust growth, are increasingly embracing these units for their lower emissions, cost-effectiveness, and consistent availability, further propelling the deployment of such units.
 

Construction Generator Sets Market Share

The leading companies are prioritizing marketing strategies, technological advancements, brand recognition, and economies of scale to address the competitive landscape within the industry. Cummins is one of the well-known manufacturers of engines and power generation equipment, including gensets. Gensets, short for generator sets, are essentially a combination of an engine and an alternator (generator) mounted together to generate electricity. The company’s gensets are widely used in various applications, including residential, commercial, industrial, and critical power needs.
 

Construction Generator Sets Market Companies

Some of the leading companies operating in the construction generator sets industry are:

• Cummins, Inc.
• Kirloskar
• Kohler Co.
• Generac Power Systems, Inc.
• Yamaha Motor Co., Ltd.
• Powerica Limited
• Sterling and Wilson Pvt. Ltd.
• HIMOINSA
• Caterpillar
• Atlas Copco AB
• J C Bamford Excavators Ltd.
• Mahindra POWEROL
• Deere & Company
• Ashok Leyland
• Greaves Cotton Limited
• Mitsubishi Heavy Industries, Ltd.
• Wartsila
• Rapid Power Generation Ltd.
• Honda India Power Products Ltd.
• FG Wilson
• Aggreko
• Champion Power Equipment
   

Construction Generator Sets Industry News:

• In December 2023, Kirloskar announced the introduction of Dual Fuel Kits for Diesel Generators offer a transformative solution for India's escalating power needs. With advanced features like an electronic controller for seamless fuel transition, optimized performance in dual-fuel mode, and flexibility in fuel mixtures, they provide a cleaner and cost-effective alternative. This innovation aligns with the Indian government's push for cleaner energy solutions, offering businesses access to incentives while showcasing environmental responsibility.
   
• In August 2023, Mahindra Powerol launched the CPCB IV+ compliant generators.  They express their pleasure of engaging with their GOEM partners at this gathering, hosted at the state-of-the-art Chakan Plant in Pune. This is positive a step toward the environmental concern by the company.
   

The construction generator sets market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2019 to 2034, for the following segments:

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Market, By Power Rating

• ≤ 50 kVA
• > 50 kVA - 125 kVA
• > 125 kVA - 200 kVA
• > 200 kVA - 330 kVA
• > 330 kVA - 750 kVA
• > 750 kVA

Market, By Fuel

• Diesel
• Gas
• Others

Market, By Application

• Standby
• Peak Shaving
• Prime/Continuous

The above information has been provided for the following regions and country:

• North America
  • U.S.
  • Canada 
• Europe
  • Russia
  • UK
  • Germany
  • France
  • Spain
  • Austria
  • Italy
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • Philippines
  • Myanmar
  • Bangladesh
• Middle East
  • Saudi Arabia
  • UAE
  • Qatar
  • Turkey
  • Iran
  • Oman
• Africa
  • Egypt
  • Nigeria
  • Algeria
  • South Africa
  • Angola
  • Kenya
  • Mozambique
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile