The global low-power generator sets market is expected to reach USD 128.58 billion by 2030 and is expected to expand at a CAGR of 9.0% from 2023 to 2038 according to a new report by Grand View Research, Inc., Low Power Gensets market is projected to observe significant growth over the estimated period due to the increasing demand for uninterrupted and reliable power supply for usage in power generation, telecommunication, oil & gas, marine, residential, chemical, manufacturing and construction, and healthcare applications. These factors are anticipated to fuel the growth of the market over the forecast period. Ongoing industrialization in emerging economies and an increasing number of infrastructure development projects worldwide are among the significant factors influencing global electricity demand. Growing usage of electronic equipment by different businesses has resulted in increasing demand for generators to prevent sudden stoppage of electricity supply during power outages to prevent disruption in their daily activities.
The diesel low-power generator sets dominated the fuel type segment in 2022 and are expected to keep their position during the forecast period. The growth of diesel generators is fueled by a variety of applications worldwide. They are typically installed in remote areas connected to the power grid and can be used as a backup system or as the primary power source because they can be quickly turned on and off without any lag time.
Demand for low-power gensets is projected to rise over the forecast period owing to increased demand for generator sets from underdeveloped countries of the world with a limited number of infrastructure development projects. Underdeveloped and developing economies such as Nigeria and Sudan lack in terms of power generation and transmission infrastructures, thereby making generator sets the only viable power generation sources for them. The lack of adequate funding for harnessing other potential energy sources such as solar and wind has made generator sets the only financially effective power generation option in underdeveloped economies. Ongoing industrialization and increasing population, coupled with limited power generation infrastructures in underdeveloped and developing economies, are anticipated to fuel the demand for low-power generator sets in the coming years.
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In terms of Revenue, 50 - 150 kVA in the power rating segment accounted for a significant share of the market in 2022 and is further expected to witness steady growth over the forecast period
The construction industry accounted for the largest market share of 31.98% in 2022 owing to the rapid development of infrastructure and the construction industry globally
In 2022, the Asia Pacific accounted for more than 36.10% share of the overall market. The development of heavy equipment, oil & gas, and process companies in China, owing to low labor and utility costs, has been one of the factors responsible for the penetration of the diesel generator market in the region.
Portable low-power generators dominated the portability segment in 2022 and are expected to maintain their dominance during the forecast period owing to the rising adoption of portable generators in small shops and an increase in outdoor events due to the easy operation and ease of transportation of portable generations
Various strategic initiatives were recorded over the past few years to boost the growth of the market. For instance; In April 2022, Atlas Copco introduced a new range of energy storage systems for enhancing the sustainability of operators by working in hybrid mode with diesel-driven generators. These systems help operators cover low loads and power peaks of generators. They offer operators a rapid return on investments and extend their lifespan
Grand View Research has segmented the low-power generator sets market based on fuel type, power rating, application, end-user, industries, portability, 50-150 kVA fuel type, 50-150 kVA application, and region :
Low Power Generator Sets Fuel Type Outlook (Revenue, USD Million; Volume, Units, 2020 - 2038)
Diesel
Gas
Hybrid (Hydrogen bases, CNG, LNG, Biofuels, and Others)
Low Power Generator Sets Power Rating Outlook (Revenue, USD Million; Volume, Units, 2020 - 2038)
0-50 kVA
50-150 kVA
151-350 kVA
Low Power Generator Sets Application Outlook (Revenue, USD Million; Volume, Units, 2020 - 2038)
Stand-by
Peak Shaving
Prime or Continuous Power
Low Power Generator Sets End-use Outlook (Revenue, USD Million; Volume, Units, 2020 - 2038)
Industrial
Utility
Power generation
Oil & Gas
Commercial
IT & Telecom
Healthcare
Others
Residential
Low Power Generator Sets Industries Outlook (Revenue, USD Million; Volume, Units, 2020 - 2038)
Construction
Earth Moving
Material Handling
Agri-machinery
Others
Low Power Generator Sets Portability Outlook (Revenue, USD Million; Volume, Units, 2020 - 2038)
Stationary
Portable
Low Power Generator Sets 50-150 kVA Fuel Type Outlook (Revenue, USD Million; Volume, Units, 2020 - 2038)
Diesel
Gas
Hybrid (Hydrogen bases, CNG, LNG, Biofuels, and Others)
Low Power Generator Sets 50-150 kVA Application Outlook (Revenue, USD Million; Volume, Units, 2020 - 2038)
Stand-by
Peak Shaving
Prime or Continuous Power
Low Power Generator Sets Regional Outlook (Revenue, USD Million; Volume, Units, 2020 - 2038)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Portugal
Asia Pacific
China
Japan
India
South Korea
Central & South America
Brazil
Argentina
Middle East
Saudi Arabia
UAE
Africa
South Africa
Kenya
Angola
List of Key Players in the Low Power Generator Sets Market
Ashok Leyland
Atlas Copco AB
Caterpillar Inc.
Cooper Corporation
Cummins Inc.
Generac Holdings Inc.
General Electric
Kohler Co.
Mitsubishi Heavy Industries Ltd.
Wartsila Corporation
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