Selbyville, Delaware, May 13, 2021 (GLOBE NEWSWIRE) --
The generator sets market revenue is set to cross USD 64 Billion by 2030, as reported in the latest study by Global Market Insights Inc. owing to natural calamities and increasing consumer significance toward power backup and emergency preparedness. Weather unpredictability along with growth and rapid digitalization of IT sector will energize the industry dynamic. Wide scale deployment of these units across manufacturing, mining, oil & gas and construction areas will favour the business scenario.
The > 750 kVA power rated generator sets industry continues to expand as the demand intensifies from COVID-centric healthcare buildings along with high-power requirements across remote areas. Increasing need for power solutions with quick and automatic start-up and optimum reliability will further enhance the use of these units.
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Peak shaving generator market sets will gain an appreciable momentum on account of ongoing government electrification programs and ongoing development of third-party data centers. Increasing severity of persistent weather outages and intensifying load on the utility power supply is set to stimulate the business outlook. Growing deployment by the utility firms to cope up high demand and power cuts will in turn positively sway the product penetration.
Some prime findings of the global generator sets market report include:
- Global generator sets industry is growing rapidly owing to increasing intensity & frequency of weather-related disasters.
- Increasing demand from utility to garner on additional capacity to cater to the peak demand will foster the industry potential.
- Proliferation of commercial, industrial and establishments will augment the business landscape.
- Leading players operating across the global generator sets market includes Cummins, Trane Technologies, Ashok Leyland, Mitsubishi Heavy Industries and Generac Power Systems.
- Surging demand from oil & gas industry to provide continuous power for activities including drilling and pumping will further augment the generator sets industry.
Browse key industry insights spread across 960 pages with 1,431 market data tables & 54 figures & charts from the report, “Generator Sets Market Statistics By Power Rating (<50 kVA, 50-125 kVA, 125-200 kVA, 200-330 kVA, 330-750 kVA, >750 kVA), Fuel (Diesel, Gas, Hybrid), End-Use (Residential, Commercial, Industrial), Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/generator-sets-market
Increasing urgency to cater to the demand of continuous power supply to hospitals assigned for treating COVID- 19 patients will stimulate the product demand across healthcare establishments. Additionally, with surging number of asymptomatic COVID-19 cases and unavailability of medical facilities, several governments are emphasizing on home quarantine which is set to fuel the adoption of gensets across the residential sector.
Middle East generator sets market is anticipated to surpass USD 3 billion by 2030. Continuing expansion in the regional infrastructure coupled with growing focus toward economic diversification will stimulate the business landscape. For instance, upcoming mega projects, most notably Qatar FIFA World Cup 2022 will necessitate the heavy deployment of these systems. Moreover, unreliable grid infrastructure coupled with rapid population growth are some of the key parameters favouring the industry statistics.
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/generator-sets-market
Browse Related Report:
Portable Generators Industry By Fuel & Power Rating (Diesel {<20 kW, 20-50 kW, >50-100 kW}, Gasoline {<2 kW, 2-5 kW, 6-8 kW, >8-15 kW}, Others), Product (Conventional Portable Generator, Inverter Portable Generator), Phase (Single Phase, Three Phase), End-Use (Residential, Commercial, Construction), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026
https://www.gminsights.com/industry-analysis/portable-generators-market
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.