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

  • Product Code:
    RP-ID-10352359
  • Published Date:
    9 Feb 2022
  • Region:
    Regional
  • Pages:
    329
  • Category:
    Energy & Power
  • Publisher:
    Pub-ID-54

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Market Overview:

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.

 

North America Genset 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

  • Growing Residential and Commercial Construction Sectors

  • Rising Demand for Uninterrupted and Reliable Power Supply Among End-Use Industries

Challenges

  • Growing Stringent Regulations to Lower Carbon Footprint Emitted from Gensets

  • 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:

  • 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.

  • 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

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

  • The report includes detailed company profiles of the major players dominating the market.

  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

  • 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

 

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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  1. DEUTZ AG
  2. Caterpillar Inc.
  3. Briggs & Stratton
  4. Generac Power Systems, Inc.
  5. Rolls-Royce plc
  6. Kohler Co.
  7. MITSUBISHI HEAVY INDUSTRIES, LTD.
  8. Taylor Power Systems, Inc
  9. Gillette Generators
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