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Construction Generator Sets Market Size

Report ID: GMI7778
Published Date: Jan 2024
Report Format: PDF

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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.

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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.

Construction Generator Sets Market Report Attributes
Report Attribute	Details
Base Year:	2023
Construction Generator Sets Market Size in 2023:	USD 5.9 Billion
Forecast Period:	2024 to 2034
Forecast Period 2024 to 2034 CAGR:	8.9%
2034 Value Projection:	USD 15.3 Billion
Historical Data for:	2019 to 2023
No. of Pages:	400
Tables, Charts & Figures:	1,113
Segments covered:	Power Rating, Fuel, Application
Growth Drivers:	Surging intensity of weather-related disasters Increasing investments across the real estate sector Surging demand for emergency power Rapid urbanization & increasing consumer propensity
Pitfalls & Challenges:	High operation & maintenance cost

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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.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of construction generator sets reached USD 5.9 billion in 2023 and is set to cross USD 15.3 billion by 2032, owing to the growing focus on fuel-efficient and environmentally friendly power generating systems along with flourishing real estate sector worldwide.

Gas construction generator sets segment is expected to grow at 9.9% CAGR from 2024 to 2032, attributed to rising emphasis on energy efficiency and cost savings, fueling a consumer shift toward clean energy solutions.

North America market was valued at USD 1 billion in 2023, due to the rising demand for backup power solutions in the region.

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, and Deere & Company are some of the major construction generator sets companies worldwide.