North American Commercial Gensets Market size is predicted to witness accelerated growth till 2027, according to a latest forecast report by Graphical Research.
The North American industry growth is on account of recurring voltage fluctuation and power outages following the extreme weather conditions including hurricanes, volcanic eruptions, and snowstorms. Growing industry inclination towards emergency preparedness and suitable power backup options is set to stimulate the market growth.
<50 kVA commercial gensets market share is estimated to rise exponentially through 2027 owing to accelerating power demand from commercial housing societies propelled by extended data utilization due to adoption of work from home by several companies. In addition, the ability to offer constant power supply to the construction site thus ensuring smooth operations of onsite heavy equipment will enhance the market outlook.
Rising consumer awareness toward environment protection in conjunction with increasing stringency of government norms aimed promoting independency from fossil fuels will result in wide scale gas based gensets deployment. Moreover, increasing government spending on expansion and development of LNG infrastructure along with increasing adoption of oil and gas exploration projects will escalate the product installation.
Robust development of commercial spaces including malls, hotels and airports driven by rising funding from private and public players will drive the gensets deployment across retail sales. Escalating need for continuous power to operate these sites while catering to the growing customer footfall driven by improved living standards and increased disposable income will augment the market scenario.
Browse detailed statistical insights from the report, “North America Commercial Genset Market Size By Power Rating (< 50 kVA, 50-125 kVA, 125-200 kVA, 200-330 kVA, 330-750 kVA, > 750 kVA), By Fuel (Diesel, Gas, Hybrid), By End-Use (Telecom, Healthcare, Data Centers, Educational Institutions, Government Centers, Hospitality, Retail Sales, Real Estate, Commercial Complex, Construction, Infrastructure, Large Industries), By Application (Standby, Peak Shaving, Prime/Continuous), Research Report, Country Outlook (U.S., Canada), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027” along with the table of contents (ToC) @
The standby application segment is anticipated to grow at a significant CAGR during the forecast period due to increasing consumer propensity toward deployment of backup power solutions attributed to frequent power cuts and poor electricity grid infrastructure. Easy availability and economic pricing along with robust development of distribution network is set to improve the sale of commercial gensets. Further, extensive utilization of these units as a prominent power source primarily across remote and offshore locations will provide significant impetus to the market growth.
Canada commercial gensets market is projected to register high growth between 2021 and 2027 owing to increasing government funding toward development and expansion of commercial infrastructure. Furthermore, establishment of industries comprising of telecom and data centers with an aim of promoting digital infrastructure will amplify the product penetration. For instance, Canada Infrastructure Bank (CIB) will invest USD 35 billion into mega, revenue generating infrastructure projects under the existing 12-year Investing in Canada Plan (IICP) to promote infrastructural development across the nation.
The prominent players functioning across the North America market comprise of Caterpillar, Cummins, Yamaha Motor, Mitsubishi Heavy Industries, John Deere, Atlas Copco, Generac, and Kohler amongst others.
The North American commercial gensets market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
North America Market, By Power Rating
- <75 kVA
- 75-375 kVA
- 375-750 kVA
- >750 kVA
North America Market, By Fuel
North America Market, By End Use
- Data Centers
- Educational Institutions
- Government Centers
- Retail Sales
North America Market, By Application
- Peak Shaving
The above information has been provided for the following countries: