North America Genset Market Segmentation by Genset Type (Standby, Prime/Continuous, Peak Shaving); by Fuel Type (Diesel, Gas, Gasoline Hybrid, and Others); by End-Use Application (Residential, Commercial, Industrial, Healthcare Facilities, and Others); and by Power Capacity (Up to 50kW, 50-150kW, 151-250kW, 251-350kW, 351-450kW, 451-750kW, 751-1000kW, and Above 1000kW)-Demand Analysis & Opportunity Outlook 2020-2030
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Product Code:
RP-ID-10352359 -
Published Date:
21 Oct 2022 -
Region:
Regional
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Pages:
329 -
Category:
Energy & Power -
Publisher:
Pub-ID-54
Impact Analysis on the Growth of Market
Inflation and Looming Recession to Haunt Businesses:
In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
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The Research Report is Updated with 2022 Base Year, 2023 Estimated year and Forecast till 2035 with Market Insights.
With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2022 as base year, 2023 as estimated year and forecast to 2035. This will have market drivers, recovery rate in the market, insights and competitive analysis.
Market Overview:
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North America Genset Market Highlights Over 2020 - 2030
The North America genset market is estimated to garner a revenue of USD 11067.1 Million by the end of 2030, up from a revenue of USD 6385.8 Million in the year 2020. By volume, the market is expected to touch 1956731 units by the end of 2030, by growing at a CAGR of 4.7% over the forecast period, i.e., 2021 – 2030. The growth of the market can primarily be attributed to the growing residential and commercial construction sector in countries, such as the United States, Canada, and Mexico, followed by the rising demand for uninterrupted and reliable power supply in the industrial sector. Over the past few years, with the increasing construction spending, and the surge in the number of both residential and commercial buildings, the demand for reliable power sources has also grown significantly. According to the statistics by the United States Census Bureau, the total construction spending in the United States for the month of December, increased from USD 98770 Million in 2017 to USD 13582 Million in 2021. The accelerating demand for uninterrupted power supply along with the rising consumer preference towards emergency backup solutions during a power outage is therefore projected to augment the demand for gensets across residential and commercial applications, and in turn, drive the growth of the market.
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The growth of the North America genset market can further be attributed to the expanding rising consumption of electricity across different end-use industries, and for the growing need for reliable uninterrupted power supply amongst these industries. For the day-to-day operations, the industrial sector is heavily dependent on grid power. However, owing to the increasing concern for power fluctuations, power outages and peak shaving, the need for generators and portable power stations has been on the rise, which is also expected to drive the growth of the market in the coming years.
North America Genset Market Regional Synopsis
By country, the North America genset market is segmented into the United States, Canada, and Mexico. The market in the United States is anticipated to generate the largest revenue of USD 8969.9 Million by the end of 2030, up from a revenue of USD 5236.3 Million in the year 2020, by growing with a CAGR of 5.6% during the forecast period. The growth of the market in the country can primarily be attributed to the increasing electric power consumption as well as the rising concern for power outages. According to the statistics by the United States Energy Information Administration (EIA), the electricity customers in the nation experienced on an average of over 8 hours of electric power interruptions in the year 2020 as compared to over 3 hours of interruptions in the year 2013.
Growth Drivers and Challenges Impacting the Growth of the North America Genset Market
Growth Drivers
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Growing Residential and Commercial Construction Sectors
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Rising Demand for Uninterrupted and Reliable Power Supply Among End-Use Industries
Challenges
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Growing Stringent Regulations to Lower Carbon Footprint Emitted from Gensets
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Difficulties in Operating Gensets During Extreme Weather Conditions
North America Genset Market Segmentation Synopsis
By country, the North America genset market is segmented into the United States, Canada, and Mexico. The market in the United States is anticipated to generate the largest revenue of USD 8969.9 Million by the end of 2030, up from a revenue of USD 5236.3 Million in the year 2020, by growing with a CAGR of 5.6% during the forecast period. The growth of the market in the country can primarily be attributed to the increasing electric power consumption as well as the rising concern for power outages. According to the statistics by the United States Energy Information Administration (EIA), the electricity customers in the nation experienced on an average of over 8 hours of electric power interruptions in the year 2020 as compared to over 3 hours of interruptions in the year 2013.
Key Companies Dominating the Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the North America genset market that are included in our report are Cummins Inc., AKSA POWER GENERATION, DEUTZ AG, Caterpillar Inc., Briggs & Stratton, Generac Power Systems, Inc., Rolls-Royce plc, Kohler Co., MITSUBISHI HEAVY INDUSTRIES, LTD., Taylor Power Systems, Inc, Gillette Generators, and others.
Latest Developments in the North America Genset Market:
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October 7th, 2021: DEUTZ AG announced that it has entered into a strategic partnership with Blue World Technologies, where the former would initially have a distribution license to sell the stationary fuel cell genset of Blue World. Post the due diligence process is finalized, DEUTZ is expected to take a 10% stake in Blue World.
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May 4th, 2020: Caterpillar Inc. announced that it has launched a new line of standby power solutions, known as the Cat GC diesel generator sets. These new gensets which includes wight models with power ratings ranging from 250kW to 600kW, are configured with an optimized mix of common features, and is now available in North America for applications in 60Hz operating environments.
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
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FREQUENTLY ASKED QUESTIONS
Growing residential and commercial construction sectors, and the rising demand for uninterrupted and reliable power supply among end-use industries are some of the major factors anticipated to drive the market growth.
The market is anticipated to attain a CAGR of 4.7% (by volume) over the forecast period, i.e., 2021-2030.
The growing stringent regulations to lower carbon footprint emitted from gensets, and the difficulties in operating gensets during extreme weather conditions are estimated to hamper the market growth.
The major players in the market are Cummins Inc., AKSA POWER GENERATION, DEUTZ AG, Caterpillar Inc., Briggs & Stratton, Generac Power Systems, Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by genset type, fuel type, end-use application, power capacity, and by country.
The standby generator segment is anticipated to garner the largest volume of 1888811 units by the end of 2030 and display significant growth opportunities.
1. Market Definition
1.1. Definition
1.2.Market Segmentation
2. Assumptions and Acronyms
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
4. Analyst Review
5. Executive Summary – North America Genset Market
6. Value Chain Analysis
7. Market Dynamics
7.1. Market Drivers
7.2. Trends
8. Major Roadblocks for the Market Growth
9. Key Market Opportunities
10. Regulatory Landscape
11. Porter Analysis
12. PESTLE Analysis
13. COVID-19 Impact on North America Genset Market
13.1. Impact on Supply Chain
13.2. Impact on Production
13.3. Impact on Sales
13.4. Impact on Import & Export
13.5. Import on Pricing
13.6. Impact on Key Market Players
14.EXIM Outlook
14.1. Import Analysis (USD Million & Units)
14.2. Export Analysis (USD Million & Units)
15. Pricing Analysis
16.Competitive Landscape
16.1. Market Share Analysis, 2020
16.2. Profit Margin Analysis
16.3. Distributors/Dealer Outlook
16.4. Company Profiles
16.4.1. Cummins Inc.
16.4.1.1. Company Overview
16.4.1.2. Business Type
16.4.1.3. Business Strategy
16.4.1.4. Financials
16.4.1.5. Key Performance Indicators
16.4.1.6. Recent Developments
16.4.1.7. SWOT Analysis
16.4.1.8. Manufacturing Facilities
16.4.2. AKSA POWER GENERATION
16.4.3. DEUTZ AG
16.4.4. Caterpillar Inc.
16.4.5. Briggs & Stratton
16.4.6. Generac Power Systems, Inc.
16.4.7. Rolls-Royce plc
16.4.8. Kohler Co.
16.4.9. MITSUBISHI HEAVY INDUSTRIES, LTD.
16.4.10. Taylor Power Systems, Inc
16.4.11. Gillette Generators
17. North America Genset Market, 2020-2030
17.1. Market Overview
17.2. By Value (USD Million)
17.3. By Volume (Units)
17.4. North America Genset Market Segmentation Analysis, 2020-2030
17.4.1. Genset Type, 2020-2030 (USD Million) (Units)
17.4.1.1. Standby, 2020-2030 (USD Million) (Units)
17.4.1.1.1. By Power Capacity, 2020-2030 (USD Million) (Units)
17.4.1.1.1.1. Up to 50kW
17.4.1.1.1.2. 50-150kW
17.4.1.1.1.3. 151-250kW
17.4.1.1.1.4. 251-350kW
17.4.1.1.1.5. 351-450kW
17.4.1.1.1.6. 451-750kW
17.4.1.1.1.7. 751-1000kW
17.4.1.1.1.8. Above 1000kW
17.4.1.1.2. By Fuel Type, 2020-2030 (USD Million) (Units)
17.4.1.1.2.1. Diesel
17.4.1.1.2.2. Gas
17.4.1.1.2.3. Gasoline
17.4.1.1.2.4. Hybrid
17.4.1.1.2.4.1. Diesel Genset + Battery
17.4.1.1.2.4.2. Diesel Genset + Battery + PV Solar (DBP)
17.4.1.1.2.4.3. Propane + Battery + PV Solar (PBP)
17.4.1.1.2.4.4. Others
17.4.1.1.2.5. Others
17.4.1.1.3. By End-Use Application, 2020-2030 (USD Million) (Units)
17.4.1.1.3.1. Residential
17.4.1.1.3.2. Commercial
17.4.1.1.3.2.1. Offices
17.4.1.1.3.2.2. Retail Establishments
17.4.1.1.3.2.3. Hotels & Restaurants
17.4.1.1.3.2.4. Others
17.4.1.1.3.3. Industrial
17.4.1.1.3.3.1. Oil & Gas
17.4.1.1.3.3.2. Manufacturing
17.4.1.1.3.3.3. Construction
17.4.1.1.3.3.4. Mining
17.4.1.1.3.3.5. Others
17.4.1.1.3.4. Healthcare Facilities
17.4.1.1.3.5. Others
17.4.1.2. Prime/Continuous, 2020-2030 (USD Million) (Units)
17.4.1.2.1. By Power Capacity, 2020-2030 (USD Million) (Units)
17.4.1.2.2. By Fuel Type, 2020-2030 (USD Million) (Units)
17.4.1.2.3. By End-Use Application, 2020-2030 (USD Million) (Units)
17.4.1.3. Peak Shaving, 2020-2030 (USD Million) (Units)
17.4.1.3.1. By Power Capacity, 2020-2030 (USD Million) (Units)
17.4.1.3.2. By Fuel Type, 2020-2030 (USD Million) (Units)
17.4.1.3.3. By End-Use Application, 2020-2030 (USD Million) (Units)
17.4.2. North America Genset Market Country Analysis, 2020-2030
17.4.2.1. United States, 2020-2030 (USD Million) (Units)
17.4.2.2. Canada, 2020-2030 (USD Million) (Units)
17.4.2.3. Mexico, 2020-2030 (USD Million) (Units)
18. USA Genset Market, 2020-2030
18.1. Market Overview
18.2. By Value (USD Million)
18.3. By Volume (Units)
18.4. USA Genset Market Segmentation Analysis, 2020-2030
18.4.1. Genset Type, 2020-2030 (USD Million) (Units)
18.4.1.1. Standby, 2020-2030 (USD Million) (Units)
18.4.1.1.1. By Power Capacity, 2020-2030 (USD Million) (Units)
18.4.1.1.1.1. Up to 50kW
18.4.1.1.1.2. 50-150kW
18.4.1.1.1.3. 151-250kW
18.4.1.1.1.4. 251-350kW
18.4.1.1.1.5. 351-450kW
18.4.1.1.1.6. 451-750kW
18.4.1.1.1.7. 751-1000kW
18.4.1.1.1.8. Above 1000kW
18.4.1.1.2. By Fuel Type, 2020-2030 (USD Million) (Units)
18.4.1.1.2.1. Diesel
18.4.1.1.2.2. Gas
18.4.1.1.2.3. Gasoline
18.4.1.1.2.4. Hybrid
18.4.1.1.2.4.1. Diesel Genset + Battery
18.4.1.1.2.4.2. Diesel Genset + Battery + PV Solar (DBP)
18.4.1.1.2.4.3. Propane + Battery + PV Solar (PBP)
18.4.1.1.2.4.4. Others
18.4.1.1.2.5. Others
18.4.1.1.3. By End-Use Application, 2020-2030 (USD Million) (Units)
18.4.1.1.3.1. Residential
18.4.1.1.3.2. Commercial
18.4.1.1.3.2.1. Offices
18.4.1.1.3.2.2. Retail Establishments
18.4.1.1.3.2.3. Hotels & Restaurants
18.4.1.1.3.2.4. Others
18.4.1.1.3.3. Industrial
18.4.1.1.3.3.1. Oil & Gas
18.4.1.1.3.3.2. Manufacturing
18.4.1.1.3.3.3. Construction
18.4.1.1.3.3.4. Mining
18.4.1.1.3.3.5. Others
18.4.1.1.3.4. Healthcare Facilities
18.4.1.1.3.5. Others
18.4.1.2. Prime/Continuous, 2020-2030 (USD Million) (Units)
18.4.1.2.1. By Power Capacity, 2020-2030 (USD Million) (Units)
18.4.1.2.2. By Fuel Type, 2020-2030 (USD Million) (Units)
18.4.1.2.3. By End-Use Application, 2020-2030 (USD Million) (Units)
18.4.1.3. Peak Shaving, 2020-2030 (USD Million) (Units)
18.4.1.3.1. By Power Capacity, 2020-2030 (USD Million) (Units)
18.4.1.3.2. By Fuel Type, 2020-2030 (USD Million) (Units)
18.4.1.3.3. By End-Use Application, 2020-2030 (USD Million) (Units)
18.4.2. USA Genset Market States Analysis, 2020-2030
18.4.2.1. South USA, 2020-2030 (USD Million) (Units)
18.4.2.2. West USA, 2020-2030 (USD Million) (Units)
18.4.2.3. Midwest USA, 2020-2030 (USD Million) (Units)
18.4.2.4. North East USA, 2020-2030 (USD Million) (Units)
19.Canada Genset Market, 2020-2030
19.1. Market Overview
19.2. By Value (USD Million)
19.3. By Volume (Units)
19.4. Canada Genset Market Segmentation Analysis, 2020-2030
19.4.1. Genset Type, 2020-2030 (USD Million) (Units)
19.4.2. Canada Genset Market States Analysis, 2020-2030
19.4.2.1. Atlantic Region, 2020-2030 (USD Million) (Units)
19.4.2.2. Central Canada, 2020-2030 (USD Million) (Units)
19.4.2.3. Prairie Provinces, 2020-2030 (USD Million) (Units)
19.4.2.4. West Coast, 2020-2030 (USD Million) (Units)
19.4.2.5. North Region, 2020-2030 (USD Million) (Units)
20. Mexico Genset Market, 2020-2030
20.1. Market Overview
20.2. By Value (USD Million)
20.3. By Volume (Units)
20.4. Mexico Genset Market Segmentation Analysis, 2020-2030
20.4.1. Genset Type, 2020-2030 (USD Million) (Units)
20.4.2. Mexico Genset Market States Analysis, 2020-2030
20.4.2.1. State of Mexico, 2020-2030 (USD Million) (Units)
20.4.2.2. Federal District, 2020-2030 (USD Million) (Units)
20.4.2.3. Jalisco, 2020-2030 (USD Million) (Units)
20.4.2.4. Veracruz, 2020-2030 (USD Million) (Units)
20.4.2.5. Rest of Mexico, 2020-2030 (USD Million) (Units)
21. Primary Interview Analysis
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- DEUTZ AG
- Caterpillar Inc.
- Briggs & Stratton
- Generac Power Systems, Inc.
- Rolls-Royce plc
- Kohler Co.
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- Taylor Power Systems, Inc
- Gillette Generators
