Global Low Power Generator Sets Market is valued at approximately USD 30.6 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 9.0% over the forecast period 2022-2029. Low Power Generator Sets consist of less than 10KW power. The low-power generator sets are usually transportable and are ready to use anytime, without any additional installation. It is used as an emergency backup of power in residential, commercial, and industrial sectors. Power generator sets are used in areas where there is a need for continuous power generation. It is commonly used in areas where there isare a frequent power outagesfrequent power outages and this becomes a problem or obstacle in daily chores or major projects. Some of the low-power generator sets are diesel generators and gas generators. All connected oil and gas operations, including drilling, pumping, and loading, can be powered continuously by diesel generators and when it is undesirable or impractical to store a pressurized gas, itgas can be created via a chemical process or from a solid or liquid source using a gas generator. Increasing industrialization, increasing investment in infrastructure development, rising usage of electronic-based equipment, and increasing demand for uninterrupted and reliable power supply are the factors driving the growth of the market.
According to the IBEF India Brand Equity Foundation organization, in India, building infrastructure to reduce logistical costs and boost the economy, Prime Minister Mr. Narendra Modi proposed an Rs. 100 lakh crore master plans for multimodal connectivity in October 2021. Also, India’s manufacturing industry received infrastructure investments totaling totalling more than 3 trillion Indian rupees during the 2021 fiscal year. Increasing infrastructure development is the major factor driving the growth of the market as it creates major demand for uninterrupted and reliable energy sources. Other important components driving market increase are increasing industrialization, rising usage of electronic-based equipment, and increasing demand for uninterrupted and reliable power supply. Furthermore, increasing government focus on the generation of clean energy sources and developing commercial facilities such as shopping malls are the factors creating market opportunities in the forecast period. However, the high cost of Low Power Generator Sets stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Low Power Generator Sets Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the growth of the industrial sector in major countries such as India and China, the development of key market players, and low labor and utility costs in the region. North America is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising power demand, the dominance of key market players, and the government’s increasing focus on generating clean energy sources in the region.
Major market player included in this report are:
Ashok Leyland Ltd.
Atlas Copco GroupAB
Generac Holdings Inc.
Mitsubishi Heavy Industries Ltd.
Recent Developments in the Market:
In December 2022, Atlas Copco acquired the assets of Suzhou since gas system Co, Ltd, which is a producer of on-site gas generation tools. The business that was acquired will be incorporated into the Compressor Technology Business Area’s Industrial Air division. The assets of Suzhou Since Gas System Co., Ltd. (Since Gas), a Chinese manufacturer of on-site gas generation equipment, have been fully acquired by Atlas Copco.
In July 2021, Cooper Corporation introduced a 5 KVA compact diesel genset, which proved to be the best in terms of fuel usage.
Global Low Power Generator Sets Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Fuel Type, Power Rating, Application, End-use, Industries, Portability, 50-150 kVA Fuel Type, 50-150 kVA Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Fuel Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Fuel Type:
Prime or Continuous Power
By Power Rating:
By 50-150 kVA Fuel Type:
By 50-150 kVA Fuel Application:
Prime or Continuous Power
Rest of the World