Industrial generator market set to expand

13 Jul 2022

Three major trends are pushing industrial generators market globally, even as major players in the market are adding high performance products to their range, says a study by Global Market Insights on ‘Industrial Generator’.  The sector, which was worth $12 billion in 2021, will grow at a CAGR of 6.7% to reach over $22 billion by 2030, says the report. Driven by the importance of emergency preparedness for storm seasons, global industrial generators market will take a significant leap, highlights the study.   In the US more than 13 named storms, alongside three major hurricanes are already being predicted by the Colorado State University. As full-grid failures are expected during this period, many companies in the US might consider deployment of standby industrial generators for long-term use. Meanwhile, genset makers are adding high performance products to their latest offerings. They are strategising profitable mergers, acquisitions, and partnerships to stand out in an increasingly fragmented market landscape. Mahindra Powerol, Kohler SDMO, HIMOINSA, Genset India, Ashok Leyland, JCB, Generac, Wärtsilä, Greaves Cotton, Supernova Gensets, Atlas Copco, and Mitsubishi Heavy Industries are some top industrial generator manufacturers.