As the global economy recovers in 2021 and the supply of the industrial chain improves, the generator sets market will undergo major changes. The generator sets market is expected to register a CAGR of more than 6.5% during the forecast period. The COVID-19 pandemic had a negative impact on the generator sets market across the globe due to the reduction in power demand, mainly from institutional customers (industrial and commercial sector), as many manufacturing plants and retail businesses were closed during the lockdown. Factors, such as the ever-increasing demand for power, lack of reliable grid infrastructure, the need for emergency backup power solutions, and the demand for steady power supply, are driving the generator sets market. Moreover, the growing energy demands from the burgeoning manufacturing industry are expected to provide greater market opportunities for generators. However, factors, such as high installation and operating costs and the consumer preference towards eco-friendly alternatives (like solar, fuel cells, etc.), and overcapacity, are restraining the markets growth during the forecast period.

The global generator sets industry report provides top-notch qualitative and quantitative information including: Market size (2017-2021 value and 2022 forecast). The report also contains descriptions of key players, including key financial indicators and market competitive pressure analysis.

The report also assesses key opportunities in the market and outlines the factors that are and will drive the growth of the industry. Taking into account previous growth patterns, growth drivers, and current and future trends, we also forecast the overall growth of the global generator sets market during the next few years. The global generator sets market size will reach USD million in 2028, growing at a CAGR of % during the analysis period.

Highlights-Regions

The generator sets market can be split based on product types, major applications, and important regions as follows:

North America
Europe
Asia Pacific
Latin America

Player list
Cummins Inc.
Generac Holdings Inc.
Wartsila Corporation
Caterpillar Inc.
Kohler Co.

Types list
Below 75 kVA
75-350 kVA
Above 350 kVA

Application list
Residential
Commercial
Industrial