Industrial Generator Sets – Preferable Solution for reliable and uninterrupted power supply
- Industrial generator sets system is used for power generation using a combination of an engine (driver) and an alternator (driven). There are various factors that affect the performance of industrial generator sets. These include the material of construction, size or capacity, design mechanism, operating speed, type of fuel, type of cooling, and operating mechanism.
- The growth in the demand for reliable and uninterrupted power supply due to industrial real estate development, increase in manufacturing of goods, and rapid industrialization are expected to drive the demand for industrial generator sets during the forecast period
Increase in number of Commercial and Industrial sector in the emerging economies is going to drive the market in forecast period
Industrial generator sets have become popular in recent years due to its various advantages, such as long maintenance interval, low temperature starting capacity, high power density, etc. Industrial generator sets have a huge demand. These generator sets are efficient and simple, as they consume less fuel due to innovation of a new technology by developing a common rail injection engine, which consumes less fuel and create les noise. Increase in industrial applications and rise in construction activities are expected to drive the global market during the forecast period.
Manufacturers are developing new generator sets that fuel-efficient and make less sound. In November 2018, Cummins Inc. launched a new diesel generator in Spain. The product offers optimum performance, reliability, and versatility for stationary standby and prime power applications suitable for less space.
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North America and Europe to Hold a Leading Share of Global Industrial Generator Sets Market
- Geographically, the global Industrial Generator Sets market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the Industrial Generator Sets market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the Industrial Generator Sets market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America Industrial Generator Sets market is segmented into Brazil, and Rest of South America.
- The APAC region led the market in 2018, followed by Europe, North America, MEA, and South America respectively. However, during the forecast period, the North American region is expected to register the highest incremental growth due to the growth of the food service industry, coupled with the steady rise in the number of tourist arrivals.
- However, Asia Pacific is anticipated to grow at a fastest CAGR growth rate during the forecast period. Rising demand of Industrial Generator Sets is projected to drive product innovation and launches in the region.
Key Players Operating in the Industrial Generator Sets Market:
The Industrial Generator Sets market is competitive with several global and regional players. Major players are adopting various strategies, such as regional expansion and product portfolio expansion to enhance their position in the market.
Companies are expanding their business across different region to cater to the demand of consumers. Under the power systems segment, companies are designing and manufacturing support back-up and prime power generators ranging from 2 kilowatts to 3.5 megawatts, as well as controls, paralleling systems, and transfer switches for applications, such as consumer, commercial, industrial, data centers, health care, telecommunications, and waste water treatment plants.
A few of the key players operating in the global Industrial Generator Sets market are:
- Cummins Inc.
- Briggs & Stratton Corporation
- Ingersoll Rand plc.
- Atlas Copco
- C&S Electric Limited
- Caterpillar Inc.
- Deere & Company
- Generac Holdings Inc.
- J.C. Bamford Excavators Limited
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Global Industrial Generator Sets Market: Research Scope
Global Industrial Generator Sets Market, by Power Rating
- Less than 75 kVA
- 75-375 kVA
- 375-750 kVA
- More than 750 kVA
Global Industrial Generator Sets Market, by Fuel Type
Global Industrial Generator Sets Market, by End Use
- Oil & Gas
- Electric Utilities
- Transport & Logistics
The report on the global Industrial Generator Sets market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.