Market Research

Data Center Construction To Propel Genset Market to $27,863.0 Million by 2030

Jul 28, 2020 4:00 PM ET

iCrowd Newswire – Jul 28, 2020

With the construction and deployment of an increasing number of data centers, the global genset market is projected to grow from $17,592.6 million in 2019 to $27,863.0 million by 2030, at a 5.8% CAGR between 2020 and 2030. Around the world, the amount of data being generated and consumed is rising, owing to the rapid adoption of autonomous vehicles, internet of things (IoT), intelligent personal assistants, online banking, digital currencies, and online entertainment.

To efficiently store all this information, the demand for data center solutions and services is rapidly growing. This is a boon for the genset market because data centers require a continuous supply of electricity. They house expensive and delicate components of the information technology (IT) infrastructure, which do not tolerate voltage spikes and frequent power cuts. In such situations, a generator set becomes essential, to continuously supply power at a consistent rating.

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The objective of this research includes;

  • Historical and the present size of the Genset Market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
  • Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
  • Major players operating in the gene therapy market and their service offerings
  • Recent strategic developments by the major players in the market

The genset market is witnessing a slowdown due to the coronavirus pandemic, as the supply of components and production of the final systems have stopped. Moreover, even a large number of end users, such as manufacturing plants and large commercial settings, have halted their operations, which has further led to a slump in the genset demand.

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In the past, the diesel category, based on fuel, dominated the genset market, because diesel is more-easily available around the world, compared to natural gas and gasoline (petrol). Even though diesel gensets are more expensive than low-powered gas variants, the supply of gas is quite poor in developing regions. In addition, diesel has a higher fuel efficiency and longer shelf life than other fuels, which makes diesel gensets the most popular.

Asia-Pacific (APAC) is currently the largest genset market, owing to the growth of the regional manufacturing sector, driven by government initiatives, such as Made in China 2025, Make in India, and Making Indonesia 4.0. Moreover, investments are being poured into the regional telecommunications infrastructure, while residential units are also rapidly installing such backup-power equipment.

The research includes detailed analysis of;

Based on Fuel

  • Diesel
  • Gas
  • Gasoline

Based on Power Rating

  • 5 kVA–75 kVA
  • 76 kVA–375 kVA
  • 376 kVA–750 kVA
  • Above 750 kVA

Based on Application

  • Commercial
    • Retail establishments
    • Commercial offices
    • Telecom towers
    • Hospitals
    • Hotels
  • Industrial
    • Manufacturing
    • Energy and power
  • Residential

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Keywords:    Genset Market, Global Genset Market Growth, Genset Market size, Genset Market share, Genset Market demand