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Industrial Gensets Maintenance Market

Industrial Gensets Maintenance Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

Industrial Gensets Maintenance: Introduction

  • The terms industrial gensets maintenance refers to tasks required to ensure the continuous operation of a generator, including replacement, defect rectification, inspection, and repair. Inspection consist of assessing coolant and oil levels, checking for leaks, glancing at the belts and hoses, and checking the battery terminals and cables. Industrial gensets maintenance ensures proper and safe functioning of gensets.
  • It also plays an essential role in extending the lifespan of a generator in industrial applications

Key Drivers and Restraints of Industrial Gensets Maintenance Market

  • Increase in demand for uninterrupted power supply has boosted focus of the industrial sector on the adoption of maintenance service for industrial gensets. This, in turn, is expected to drive the global industrial gensets maintenance market during the forecast period. Preventive maintenance service ensures that the industries get uninterrupted power supply for all their needs.
  • Ongoing investments in manufacturing and construction sites are key factors that are estimated to boost the industrial gensets maintenance market during the forecast period. Diesel generator sets utilized for either backup (emergency) or prime power in construction or manufacturing industries needs regular maintenance to ensure that they provide quality power throughout their service life.
  • Increase in requirement of proper functioning and refurbishment of generator sets in order to maintain their optimum performance and comply with stringent regulatory norms is anticipated to propel the global industrial gensets maintenance market during the forecast period. However, high cost of maintenance of generator sets is projected hamper the market in the near future.

COVID-19 Impact Analysis

  • Governments of several nation across the globe have imposed stringent lockdowns to limit the spread of the coronavirus. Movement of individuals and economic activities, related to essential goods and services, have come to a halt because of lockdowns. This has adversely affected the operation of industrial sectors, thereby hampering the demand for maintenance of industrial gensets, as the maintenance service for gensets is required to ensure proper function of generator sets during operation in industrial areas.

Commercial Aviation Segment to Hold Prominent Share of Global Market

  • The global industrial gensets maintenance market can be segmented based on application and region
  • In terms of application, the global industrial gensets maintenance market can be classified into construction, transport & logistics, oil & gas, electric utilities, and others. Industrial gensets services are extensively employed in the oil & gas industry due to the consistent demand for continuous power for activities including drilling, pumping and loading in oil & gas fields. Proper maintenance of industrial gensets ensures the proper functioning of generators during operation
  • In terms of fuel, the global industrial gensets maintenance market can be classified into diesel, gas, and others

Asia Pacific to Constitute Major Share of Global Industrial Gensets Maintenance Market

  • In terms of region, the global industrial gensets maintenance market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
  • North America held a vital share of the global industrial gensets maintenance market in 2019. This trend is anticipated to continue during the forecast period. Rise in demand for continuous power supply in oil & gas fields for drilling and pumping operations is a key factor propelling the industrial gensets maintenance market in North America.
  • The industrial gensets maintenance market in Asia Pacific is expected to expand at a significant pace during the forecast period. The market in the region is driven by ongoing investment in the construction sector. Population migration from rural to urban areas, rise in per capita income, and strong economic growth are key factors propelling the market.
  • Europe is projected to dominate the global industrial gensets maintenance market during the forecast period. This can be ascribed to a rise in the demand for maintenance services for generators utilized in the manufacturing sector.

Key Players Operating in Global Market

Leading companies operating in the global industrial gensets maintenance market include:

  • Falcon Diesel & Marine Works
  • GENERAL ELECTRIC
  • Cummins Inc.
  • Genset Services, Inc.
  • Kirloskar Care

Global Industrial Gensets Maintenance Market: Research Scope

Global Industrial Gensets Maintenance Market, by Application

  • Oil & Gas
  • Construction
  • Electric Utilities
  • Transport & logistics
  • Others

Global Industrial Gensets Maintenance Market, by Fuel

  • Diesel
  • Gas
  • Others

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