United States Genset Market

The United States genset market is one of the largest in the world, driven by the country’s vast industrial base, frequent natural disasters, and aging energy infrastructure. Gensets are widely used across various sectors in the U.S., including construction, healthcare, data centers, and commercial buildings, to provide backup power during grid outages and ensure continuous operations. The increasing frequency of severe weather events, such as hurricanes, wildfires, and snowstorms, has also led to a surge in demand for gensets, particularly in regions prone to power outages. Additionally, the growing reliance on digital infrastructure, such as cloud computing and data centers, has further boosted the need for reliable backup power solutions.

Diesel gensets dominate the U.S. market due to their durability and efficiency in large-scale industrial applications. However, with the growing emphasis on reducing emissions and promoting cleaner energy solutions, there is increasing demand for gas-powered gensets, particularly in urban areas where environmental regulations are stricter. The U.S. genset market is highly competitive, with a mix of domestic and international manufacturers offering a wide range of products to meet the diverse needs of industries. Technological advancements, such as the development of hybrid gensets and the integration of gensets with renewable energy sources, are also shaping the market. As the U.S. continues to invest in infrastructure and energy security, the genset market is expected to witness steady growth in the coming years.

The genset market is expected to grow from USD 22,433.1 Million in 2022 to USD 34,357.3 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 5.5% during the forecast period. The market growth is primarily driven by the increasing demand for uninterrupted power supply from various industries, including healthcare, data centers, telecom, and hospitality. Additionally, the rising instances of power outages and grid failures are boosting the demand for gensets as a backup power source.

A genset, also known as a generator set or generator, is a portable device that combines an engine, an electrical generator, and various control and auxiliary devices to generate and supply electricity. The COVID-19 pandemic has had a significant impact on the genset market, with both positive and negative effects. On the one hand, the lockdowns and restrictions on movement have led to a decrease in demand for gensets, as there has been a decrease in construction and industrial activities.

On the other hand, there has been an increased demand for gensets as backup power sources in residential and commercial buildings, as the pandemic has led to an increased need for reliable electricity supply in case of power outages.

Additionally, the healthcare sector has seen an increase in demand for gensets, as they are used to power medical equipment and facilities. In conclusion, the COVID-19 pandemic has had a mixed impact on the genset market.

Key Players

  • Caterpillar
  • Cummins
  • Wartsila
  • Siemens
  • General Electric
  • ABB Ltd
  • PARAMAC
  • Generac Holdings Inc.
  • Kohler Co.
  • MTU Onsite Energy
  • Mitsubishi Heavy Industries
  • Kirloskar Electric Company
  • Yanmar Co.Ltd.
  • Himoinsa S.L

Regional Analysis

The Asia-Pacific region is expected to hold the largest share in the global genset market, due to factors such as the large population, rapidly growing economies, and increasing demand for reliable power supply in countries such as China, India, and Japan. Additionally, supportive government policies and initiatives, as well as the presence of major market players, are contributing to the growth of the genset market in the Asia-Pacific region.

Market Segmentation

The Global Generator Sets market size has been segmented into power rating, application, and fuel type.

Based on the power rating, the market has been segmented into Up to 100, 100-350, 350-1000, and above 1000.

Based on the fuel type, the market has been segmented into Natural Gas, Diesel, and Propane.

Based on the application, the market has been segmented into Standby Power, Peak Shaving, and Prime/Continuous Power.

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