Peak Shaving Generator Sets Market
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The global peak shaving generator sets market size was valued at USD 10.6 billion in 2023 and is estimated to grow at a CAGR of 7.4% from 2024 to 2032, due to the increasing energy management demands, SBA construction has been brought to life. This helps neutralize the efforts of emphasizing sustainability.
Many businesses are not connected to the electric grid owing to the remote locations where they are situated. During peak energy demands, diesel-powered, peak-shaving generator sets serve a critical role in minimizing power expenses when the demand is too high. This helps save operational overheads. To ensure reliability and availability, SBA construction is required as many facilities only have a reliable backup or a cost-effective generator system.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Peak Shaving Generator Sets Market size in 2023: | USD 10.6 Billion |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2023 - 2032 CAGR: | 7.4 |
| 2023 Value Projection: | USD 20.2 Billion |
| Historical Data for: | 2021-2023 |
| No of Pages: | 150 |
| Tables, Charts & Figures: | 45 |
| Segments Covered: | Fuel, Power Rating, End Use and Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The increase in costs related to energy management will allow the peak-shaving generator sets market to save money and become very reliable. Having these global generator trends will ensure the efficiency and independent electric needs for companies are met and will drive the energy market forward. These generators are known for their high power and output supply during peak energy hours. Ongoing growth within the construction sector paired with the rising demand in electricity will augment the industry growth.
The diesel peak shaving generator sets will exceed USD 12 billion by 2032. Generators with the capability to run on gasoline can boost product sales as they would become a great alternative power supply during outages. Energy consumers are also keen on hybrid models that integrate diesel-powered generators with renewables in an attempt to lower fuel costs and emissions. The trend regarding digitalization as well as the integration of IoT into generator sets is fostering the ability to monitor the unit, operate it remotely, and maintain it more efficiently, which further enhances the business environment.
The > 75 kVA - 375 kVA peak shaving generator sets market size will witness a growth rate of over 7% through 2032. These generator sets are essential to control electricity use during businesses' peak hours. Other than this, they are also useful in avoiding hefty payments to utilities because they allow businesses to cut down their peak load when their operations consume more electricity. Increased public consciousness regarding energy efficiency and tighter emission regulatory controls on carbon strengthen the need for such systems.
U.S. peak shaving generator sets market is set to reach USD 4 billion by 2032. Greater efficiency and lower emissions, as well as other advances in technology, are likely to enhance the landscape of business. There is a growing investment in energy storage solutions alongside the rise of distributed energy resources, which will, as a result, augment the use of peak-shaving generator sets over a broader range of applications. The escalating demand for energy, increasing prices of electricity, and greater emphasis on grid reliability will have a favorable effect on the industry.
The government support for the construction of infrastructure projects together with the promotion of sustainable energy practices will ensure the growth of the peak-shaving generator sets market in Asia Pacific. The modernization of the urban population rate coupled with strong investment in the industrial and commercial sectors, will increase the potential of the industry. The focus on sustainable energy practices is forcing many organizations to install hybrid systems, which utilize solar energy together with traditional generator sets. The government’s support for energy efficiency and carbon footprint reduction also helps the expansion of these businesses.
To keep up with the growing need for more sustainable energy solutions, the companies are working on hybrid engines that use both renewable energy sources and traditional fossil fuel engines. This has led to companies developing a wider range of products than ever before. In order to enhance their performance, the firms are actively collaborating with other energy service entities.
Major players operating in the peak shaving generator sets industry are:
Market, By Power Rating
Market, By End Use
Market, By Fuel
The above information has been provided for the following regions and countries:
Major players operating in the peak shaving generator sets industry include Ashok Leyland, Atlas Copco Group, Caterpillar, Cummins, Generac Power Systems, Greaves Cotton, Himoinsa, Kirloskar, Kohler, Mahindra Powerol, Mitsubishi Turbocharger and Engine Europe, Rolls-Royce, Sterling Generators, Supernova Genset, and Wartsila.
The U.S. peak shaving generator sets market is set to reach over USD 4 billion by 2032, propelled by ongoing technological advancements in generator technology, including improved efficiency and lower emissions.
The > 75 kVA - 375 kVA peak shaving generator sets market size will witness about 7% growth rate from 2024 to 2032, led by rising awareness of energy efficiency and stringent regulatory mandates on carbon emissions.
The global market for peak shaving generator sets was reached USD 10.6 billion in 2023 and is estimated to grow at a 7.4% CAGR from 2024 to 2032, driven by the increasing demand for efficient energy management solutions.
The diesel peak shaving generator sets industry will exceed USD 12 billion by 2032, as these generators serve as emergency power sources during outages, enhancing product adoption.