Even though low-power gas gensets are cheaper than diesel variants, the poor supply of natural gas negatively affects their uptake.ĭuring the forecast period, the 376 kVA–750 kVA division, under segmentation by power rating, is expected to witness the highest CAGR in the market, on account of the rising number of commercial offices, retail super markets, and urban residential complexes, where these higher-power variants are required.
This is primarily ascribed to the wider availability of diesel in comparison to natural gas and gasoline.
The diesel genset category is expected to hold the largest share in the genset market till 2030, based on fuel. Segmentation Analysis of Generator Market In addition, severe ramifications could be seen on the supply chain of essential components for gensets across manufacturing units, which were heavily dependent on the Chinese plants for supply in Q1 2020. The COVID-19 pandemic has significantly impacted the demand for gensets at a global level owing to temporary suspension of manufacturing activities across China, India, and several countries across Europe. The major reasons behind the advance of the market are the low production of power and uncertainties in the grid in several nations as well as the increasing construction of data centers.
Diesel to be Most Popular Fuel in Generator Market till 2030įrom $17,592.6 million in 2019, the global genset market is expected to reach $27,863.0 million by 2030, witnessing a CAGR of 5.8% during 2020–2030 (forecast period).