Genset Market Information Report by application (continuous, stand by and peak shave), by Fuel Type (diesel and gas), by end user (Residential, Commercial and Industrial) and by Region – Global Forecast to 2022
The global genset market is a very dynamic market and is expected to witness high growth over the forecast period. The increased application of generator sets across various sectors is majorly influenced by the growing demand for uninterrupted & reliable power supply. Also, the increasing number of power outages and power failure in the developing and underdeveloped countries across the world is creating a huge demand for power backup devices, which is catered through generator sets. As per the study conducted by Market Research Future, the global market for generator sets is likely to grow at the CAGR of around 5.5%.
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- Briggs & Stratton
- Cummins Inc
- Perkins Engines Company Limited
- Caterpillar Inc.
Genset Global Market – Segmentation
The scope of global genset market is segmented into two major segments which are explained below:
- Peak Shave
By Fuel Type
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Market Research Analysis
The global market for genset seems to be highly competitive. To maintain the market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, product launch, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
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