Selbyville, Delaware, April 25, 2022 (GLOBE NEWSWIRE) --
The industrial generator market size is expected to record a valuation of USD 22 billion by 2030, according to the most recent study by Global Market Insights Inc.
The market growth is credited to the large-scale power outages triggered by factors including cyber-attacks, cascading power failures, and severe weather conditions. Growing investments in the development of waterworks, roads, and railway lines will lead to increased mining activities which in turn, will escalate the industry expansion. Sizeable investments to reinforce the ongoing infrastructure expansion and industrialization will augment the business landscape.
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The > 375 kVA - 750 kVA industrial generator market is projected to showcase significant growth due to the elevating demand for reliable backup power from large manufacturing facilities and industries. Increasing deployments across the food processing, chemical, and textile sectors will positively sway the business growth. Burgeoning industrialization and an inadequate power supply will further energize the industry dynamics.
Standby industrial generators are anticipated to witness appreciable momentum impelled by the ongoing technological advancements in engines, in terms of low-emission and fast load acceptance. Rising weather-related disasters and inefficacy of electrical infrastructure to endure the escalating load demand will foster market progression. Increasing disposable incomes in line with surging consumer awareness of backup solutions will favor the business scenario.
Europe industrial generator market is predicted to observe a 5.9% growth rate till 2030. The flourishing automotive sector along with growing construction activities will boost the industry statistics. The environmental & emission compliances together with the introduction of the Stage V limits will spur the business dynamics. The rising digitalization of power utilities and robust expansion of industrial establishments will accelerate the product demand.
Leading players operating in the industrial generator market include Kohler SDMO, Generac Power Systems, Powerica, Genset India, Sterling Generators, HIMOINSA, Caterpillar, Atlas Copco, Supernova Gensets, JCB, Mahindra Powerol, Deere & Company, Ashok Leyland, Greaves Cotton, Mitsubishi Heavy Industries, Wärtsilä, Cummins and Kirloskar Oil Engines.
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Some prime findings of the industrial generator market report include:
- The market for industrial generator is growing rapidly on account of robust growth across the automotive production sector.
- Ongoing development of smart city projects will propel the industry potential.
- Rapid industrialization and increasing infrastructure developments will stimulated the industry growth.
- High electricity costs, rapid population growth, and poor transmission & distribution networks will drive the market in Africa region.
Table of Contents (ToC) of the report
Chapter 3 Industrial Generator Market Insights
3.1 Industry ecosystem analysis
3.2 Innovation & technology landscape
3.3 Regulatory landscape
3.4 COVID- 19 impact on the industry outlook
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 North America & Europe
3.5.1.1.1 Increasing intensity & frequency of weather-related disasters
3.5.1.1.2 Aging grid infrastructure
3.5.1.1.3 Positive outlook for the mining industry
3.5.1.1.4 Resurgent growth across the automotive production sector
3.5.1.2 Asia Pacific
3.5.1.2.1 Robust manufacturing sector across ASEAN economies
3.5.1.2.2 Rapid industrialization & infrastructure development
3.5.1.2.3 China
3.5.1.3 Africa
3.5.1.3.1 Unreliable grid infrastructure coupled with rapid population growth
3.5.1.3.2 Ongoing construction boom
3.5.2 Industry pitfalls & challenges
3.5.2.1 High capital, installation & maintenance costs
3.5.2.2 Shifting trends toward renewable power generation
3.6 Growth potential analysis
3.7 Porter's Analysis
3.8 Competitive landscape, 2021
3.9 PESTEL Analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/industrial-generator-sets-market
About Global Market Insights Inc.
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.
