Generator Sets Market Analysis

The ≤ 50 kVA rated generator sets will reach over USD 15 billion by 2032. The increasing frequency of natural disasters combined with aging grid networks will result in power failures, thereby driving the business growth. The industry outlook will be strengthened by a shift toward adopting affordable and less powerful power solutions due to their operational suitability and economic viability. Additionally, the robust development of mobile towers to meet the needs of a growing subscriber base will fuel the product deployment.

The commercial generator sets market size will witness a CAGR of over 7% through 2032. Robust development of data centers along with ongoing upgradations in IT sector will energize the business dynamics. Increasing concern toward digitalization and increasing power outages will further drive the industry potential. Furthermore, increasing demand for reliable & constant power supply across educational institutions and government centers will escalate the product deployment.

Asia Pacific generator sets market is set to surpass USD 38 billion by 2032. The proliferation of multi-family residential apartments and commercial complexes will significantly correspond to a high demand for consistent power supply, which in turn will fuel the industry scenario. Ongoing electrification programs coupled with increasing investments across manufacturing sector will drive the business outlook. In addition, the remote areas lacking connection to the central power transmission network and  solely dependent on generators for electricity will provide business opportunities.

The U.S. generator sets market will be driven by the electrical grids inability to sustain increased demand loads and recent severe hurricane events. Furthermore, the growing need to ensure continuous power supply in healthcare facilities and industries will expand the deployment of these gensets. Ongoing economic development, rising population, and increasing urbanization will propel the product deployment. Additionally, the influx of foreign investments and growth ventures supporting industrialization in the region will enhance the business outlook.