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Construction Generator Sets Market Trends

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

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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.

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.