Generator Sets Market Trends 2021, Global Demand Analysis to 2030
The Middle East generator sets industry is predicted to surpass USD 3 billion by 2030.
Delaware, United States – July 22, 2021 /MarketersMedia/ —
Rise in occurrence of natural calamities and power outages have heightened the importance of emergency preparedness, subsequently driving the demand for emergency and power backup systems like generator sets.
According to PowerOutage.US, in the year 2020, utility customers experienced 1.33 billion outages, up by 73% in the year 2019. Rapid digitalization and expanding IT sector has made backup systems vital for businesses to operate especially during harsh weather conditions.
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Requirement for power backup units across the manufacturing, mining, oil & gas, and construction areas have also favored the generator sets industry. Some of the major players functioning in the global generator sets market include Generac Power Systems, Mitsubishi Heavy Industries, Cummins, Ashok Leyland, and Trane Technologies.
Let’s take a look at some of the key factors that will drive the genset market:
High demand for >750 kVA power rated generator sets
>750 kVA power rated generators are highly reliable and durable. This class-defining technology engine is designed to meet latest emission norms, thus offering cleaner and environment-friendly power. Companies like KOEL GREEN are working on oﬀering emission norm compliant > 750 kVA power rated generators that provide enhanced fuel eﬃciency.
Estimates suggest that the > 750 kVA power rated generators industry is expected to expand in view of rising demand across healthcare buildings, especially since the COVID-19 outbreak, as well as due to high-power requirements across remote areas. Rising requirements for backup systems with features like rapid and automatic start-up will augment the demand for new > 750 kVA gensets in the estimated timeframe.
Growing demand for continuous power supply
Considering the current COVID-19 outbreak, the demand for continuous power supply has surged immensely in the healthcare sector. COVID-19 has caused some severe challenges to the healthcare industry across countries worldwide. A consistent supply of electricity is amongst one of the several requirements of the healthcare sector needed to address this crisis. With surging case of asymptomatic COVID-19 patient, governments are emphasizing on constructing new healthcare facilities which may fuel the adoption of gensets.
Emerging requirement across the Middle East
The Middle East generator sets industry is predicted to surpass USD 3 billion by 2030. Presence of a robust tourism sector, constant expansion in the regional infrastructure industry and a stern focus towards boosting economic growth may stimulate genset businesses in the region. Forthcoming mega projects, like the Qatar FIFA World Cup 2022, will accelerate heavy deployment of genset systems.
Key players operating in this region are focusing on launching novel products that can withstand harsh environmental conditions. For Instance, Kohler has launched its M139 generator canopy that comes with innovative anti-corrosion protection, offering the highest anti-corrosion performance levels, making it appropriate for use in severe outdoor environments in marketplaces such as Africa and the Middle East.
Name: Arun Hegde
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