Genset Market by Mobility Type (Mobile, Stationary), Fuel Type (Gas, Diesel, Other Fuel Types), Application (Peak Shaving, Prime/Continuous, Standby), End User, and Geography - Global Industry Analysis, Opportunities and Forecast up to 2029

Genset Market Size

The genset market size was valued at $21.05 billion in 2023 and is projected to reach $30.37 billion by 2029, growing at a CAGR of 6.3% from 2023 to 2029.

Genset Market Overview

A genset, short for a generator set, is a compact and self-contained unit that integrates an electric generator with an internal combustion engine. This versatile system is designed to generate electricity when and where it is needed, serving as a reliable source of power in various applications. Gensets are commonly employed in situations where a continuous and stable power supply is crucial, such as during power outages, in remote locations, or at construction sites. The internal combustion engine, typically fueled by diesel, natural gas, or gasoline, drives the generator to produce electrical energy. Gensets find extensive use in industries, commercial establishments, and residential settings, providing a dependable backup or primary power source to ensure uninterrupted operations. Their portability, efficiency, and adaptability make gensets essential for addressing power demands across diverse scenarios.

Market Dynamics:

Growth Drivers

• Expanding telecom infrastructure globally.
• Rapid industrialization and urbanization.

Constraints

• Inclination for alternative energy sources.
• Stricter environmental regulations.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Based on mobility type, the market is bifurcated into mobile and stationary.

By fuel type, the market is fragmented gas, diesel, and other fuel types.

Depending on the application, the market is segregated into peak shaving, prime/continuous, and standby.

Following end user, the market is categorized into commercial, industrial, and residential.

List of the Key Players Profiled in the Report Includes:

• Cummins Inc.
• Caterpillar Inc.
• Rolls-Royce Power Systems AG
• John Deere
• Mitsubishi Heavy Industries Ltd.
• Atlas Copco
• Kohler Co.
• Doosan Corporation
• Himoinsa
• Harrington Generators International
• Generac Power Systems
• Yanmar Co., Ltd.

Market by, Geography:

The genset market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis.

The report “Global Genset Market: Industry Analysis, Opportunities and Forecast up to 2029” by Diligence Insights provides a detailed analysis of the present market and future outlook with market estimates and forecasts for all specified segments, encompassing both global and regional perspectives as outlined within the research framework. The study includes historical market data for the years 2021, 2022 and offers revenue estimations for 2023, and project forecasts spanning from 2024 to 2029. It places significant emphasis on the examination of market trends, key industry participants, supply chain developments, technological advancements, pivotal milestones, and prospective strategies. Comprehensive market assessments are carried out across major geographic regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. As such, this report constitutes a valuable resource for current industry stakeholders, newcomers to the field, and potential investors.

The study offers an in-depth market analysis, drawing insights from industry experts across the value chain. A special focus has been made on 25 countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, and South Africa, among others. The market data has been meticulously collected through extensive primary interviews and comprehensive secondary research. Market size determination is rooted in the revenue generated from sales across all the specified segments and sub-segments as defined within the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

What Can be Explored with this Research Report:

• Understand the key trends that will drive the market and the challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments, and regions/countries predicted to observe promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Table Of Content

1 Market Introduction 
 1.1 Market Definition 
 1.2 Research Scope and Segmentation 
 1.3 Stakeholders 
 1.4 List of Abbreviations 
 
2 Executive Summary 
 
3 Research Methodology 
 3.1 Identification of Data 
 3.2 Evaluation of Market Dynamics 
 3.3 Collaboration of Data 
 3.4 Verification and Analysis 
 3.5 Research Approach 
 3.6 Data Sources and Assumptions 
 
4 Market Dynamics 
 4.1 Market Drivers 
 4.2 Market Restraints 
 4.3 Market Opportunities 
 4.4 Market Challenges 
 4.5 Impact of COVID-19 on the Genset Market 
 
5 Porter's Five Force Analysis 
 5.1 Bargaining Power of Suppliers 
 5.2 Bargaining Power of Buyers 
 5.3 Threat of New Entrants 
 5.4 Threat of Substitutes 
 5.5 Competitive Rivalry in the Market 
 
6 Global Genset Market by, Mobility Type 
 6.1 Overview 
 6.2 Mobile 
 6.3 Stationary 
 
7 Global Genset Market by, Fuel Type 
 7.1 Overview 
 7.2 Gas 
 7.3 Diesel 
 7.4 Other Fuel Types 
 
8 Global Genset Market by, Application 
 8.1 Overview 
 8.2 Peak Shaving 
 8.3 Prime/Continuous 
 8.4 Standby 
 
9 Global Genset Market by, End User 
 9.1 Overview 
 9.2 Commercial 
 9.3 Industrial 
 9.4 Residential 
 
10 Global Genset Market by, Geography 
 10.1 Overview 
 10.2 North America 
 10.2.1 US
 10.2.2 Canada
 10.2.3 Mexico
 10.3 Europe 
 10.3.1 Germany
 10.3.2 France
 10.3.3 UK
 10.3.4 Italy
 10.3.5 Spain
 10.3.6 Rest of Europe
 10.4 Asia Pacific 
 10.4.1 China
 10.4.2 Japan
 10.4.3 India
 10.4.4 South Korea
 10.4.5 Australia
 10.4.6 New Zealand
 10.4.7 Rest of Asia Pacific
 10.5 South America 
 10.5.1 Brazil
 10.5.2 Argentina
 10.5.3 Chile
 10.5.4 Rest of South America
 10.6 Middle East & Africa 
 10.6.1 UAE
 10.6.2 Saudi Arabia
 10.6.3 Qatar
 10.6.4 Iran
 10.6.5 South Africa
 10.6.6 Rest of Middle East & Africa
 
11 Key Developments 
 
12 Company Profiling 
 12.1 Cummins Inc. 
 12.1.1 Business Overview
 12.1.2 Product/Service Offering
 12.1.3 Financial Overview
 12.1.4 SWOT Analysis
 12.1.5 Key Activities
 12.2 Caterpillar Inc. 
 12.3 Rolls-Royce Power Systems AG 
 12.4 John Deere 
 12.5 Mitsubishi Heavy Industries Ltd. 
 12.6 Atlas Copco 
 12.7 Kohler Co. 
 12.8 Doosan Corporation 
 12.9 Himoinsa 
 12.10 Harrington Generators International 
 12.11 Generac Power Systems 
 12.12 Yanmar Co., Ltd.