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Home » Market Report » Global trends pushing the demand for industrial generators’ market

Global trends pushing the demand for industrial generators’ market

June 5, 2022 5:54 pm

Global trends pushing the demand for industrial generators’ market
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This article talks about the ongoing global trends that are regenerating the demand pattern for industrial diesel generators across the industries.

Driven by the importance of emergency preparedness for storm seasons, the global industrial generators market will take a significant leap. In the U.S. more than 13 named storms, alongside 3 major hurricanes are already being predicted by the Colorado State University. As full-grid failures are expected during this period, many companies in the United States might consider the deployment of standby industrial generators for long-term use.

Genset makers are adding high-performance products to their latest offerings. They are strategizing 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.

According to a recent report published by Global Market Insights “These brands are fortifying their supply chains and distribution networks to gain prominence on a global level. As per industry estimates, the European market size for industrial generators is expected to grow at 5.9% CAGR through 2030.” The following three trends are likely to influence the global industry outlook over the next few years:

  • Mining industry in the Asia Pacific to strengthen reliance on diesel gensets

Asia Pacific industrial diesel generator industry share from mining applications is slated to grow at a significant growth rate. These units play a pivotal role in the mining industry as they are deployed in the extraction of minerals and other products. The sector is growing in the region, with China reportedly witnessing a 12.2% increase in mining production during March 2022 as compared to March 2021.

Large drills and other excavating machinery haul hundreds of tons of minerals in a day. Due to lower volatility, a diesel generator is considered a reliable option by mining companies, which are committed to completing tasks within minimal time frames. Easy availability, minimal manpower, and ease of operation offered by manufacturers in their diesel products is enhancing their uptake across the Asia Pacific mining industry.

  • Persistent threat of natural disasters to foster adoption of emergency backup generators

Due to the growing uncertainty associated with power supply, especially in times of natural disasters, LNG is considered one of the most valuable resources. Canada’s gas-powered industrial generator industry share is expected to grow due to the refurbishment of the national electric grid. Several American provinces have also been seeing increased product uptake due to rising frequency of storms and hurricanes, whereby interrupted power supply has been affecting production across numerous industries.

Since the U.S. passed a law mandating the installation of these units across gas stations almost more than a decade ago, the backup power generator industry’s share of transportation and logistics applications will rise. South Carolina, Virginia, and North Carolina are likely to see a considerable increase in disaster preparedness, thereby fueling product use.

  • Peak-shaving products likely to see higher adoption

With the rising frequency of power failure throughout the world since the 2020 health emergency, manufacturing units have been increasing reliance on new & used industrial generators during peak shaving. Rolling blackouts are becoming more persistent across several Asian and South African economies, where governments are resorting to peak shaving to compensate for power shortages. During loading shedding periods, manufacturing units cannot afford to shut down production, if they are to survive in the post-pandemic era.

Several manufacturers have been providing low-emission, standalone industrial generators to these industries. The peak-shaving industrial generator market share in the Asia Pacific and Europe will grow considerably, as manufacturing facilities have been seeking fuel-efficient solutions to mitigate downtimes.

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