In the coming years, the MEA generator set market will exhibit the fastest expansion in the world, as per the forecast of P&S Intelligence.

NEW YORK, UNITED STATES, May 10, 2022 /EINPresswire.com/ -- The construction sector of developed countries, such as the U.K. and the U.S., is currently witnessing a boom due to economic recovery and rapid industrialization. Additionally, the construction industry of Gulf Cooperation Council (GCC) members will also observe massive growth due to the recovery in oil prices, implementation of fiscal reforms by the governments of regional countries, and penetration of technology in business practices. The expansion of the construction sector is expected to create a substantial requirement for gensets in the forthcoming years.

Moreover, the rising number of data centers, owing to the surging amount of data being generated by autonomous vehicles and the internet of things (IoT)-enabled devices, will drive the generator set market at a CAGR of 5.8% during 2020–2030. According to P&S Intelligence, the market revenue will grow from $17,592.6 million in 2019 to $27,863.0 million by 2030. The increasing construction of data centers can be credited to the enormous amount of data being generated and consumed, which requires robust infrastructure for data access, collation, and analysis.

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Diesel, gas, and gasoline gensets are available with 5 kVA–75 kVA, 76 kVA–375 kVA, 376 kVA–750 kVA, and above 750 kVA power ratings. Gensets with different power ratings are used as backup power sources in residential facilities, small industrial units, manufacturing companies, energy and power firms, locomotives, construction sites, public transport agencies, retail establishments, petrol pumps, commercial offices, hotels, amusement parks, telecom towers, cold storage facilities, hospitals, and party halls.

In recent years, the players operating in the genset market are focusing on mergers and acquisitions to gain a competitive edge. For example, in January 2020, Siemens AG acquired C&S Electric, an Indian company offering power generation products, to cater to the surging need for electricity in the infrastructure sector. With this move, Siemens AG offers a new range of low-voltage switchboards, diesel genset, low- and medium-voltage products, power bushbars, lighting, and measurement and protection devices for infrastructure companies.

Geographically, the Asia-Pacific region was the largest user of gensets during the last few years, owing to the expanding manufacturing sector in regional countries. Government initiatives, such as Made in China 2025, Make in India, and Making Indonesia 4.0, are resulting in the large-scale construction of manufacturing facilities in the region. Besides, the rising need for backup power in the residential sector and mounting investments being made in the development of telecommunications infrastructure will also facilitate the adoption of gensets in APAC nations.

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However, the Middle East and African region is expected to exhibit the fastest growth in the genset market throughout the forecast period. This will be on account of the presence of poor grid connectivity in regional countries. In addition, a surge in commercial activities and rapid industrialization in Turkey, the U.A.E., Egypt, and Saudi Arabia will also contribute to the market growth in the region. Moreover, the booming construction industry in MEA countries, owing to the improving infrastructure sector and soaring focus of governments on economic diversification will also drive the global demand for gensets.

Therefore, the prospering construction sector and soaring number of data centers will accelerate the deployment of gensets worldwide.

Generator Set Market Size Breakdown by Segment

Based on Fuel
• Diesel
• Gas
• Gasoline
Based on Power Rating
• 5 kVA–75 kVA
• 76 kVA–375 kVA
• 376 kVA–750 kVA
• Above 750 kVA
Based on Application
• Commercial
o Retail establishments
o Commercial offices
o Telecom towers
o Hospitals
o Hotels
• Industrial
o Manufacturing
o Energy and power
• Residential
Geographical Analysis
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o Italy
o France
o Spain
o Russia
o Poland
• Asia-Pacific
o China
o Philippines
o India
o Vietnam
o Indonesia
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o U.A.E.
o Saudi Arabia
o Nigeria
o Turkey
o Algeria

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Prajneesh Kumar
P&S Intelligence
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