Growing demand for uninterrupted power supply and hybrid diesel genset drives the growth of the commercial gensets market. There is rise in demand for electricity as well especially in rural region. This is also expected to fuel the demand for commercial genset. Further growth of the industrial sector is also leading to the rise in demand for commercial genset.
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The regional outlook includes North America (the U.S. and Canada), Europe (Germany, the UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM), and the Middle East & Africa. North America has witnessed high growth in the gensets market. Attributed to growing industrial activities in the Asia-Pacific region, commercial gensets are becoming more popular, which is leading to the growing demand across the globe.
The major key players analyzed include Atlas Copco, Ashok Leyland, C&S Electric, Caterpillar, Kohler Power Group, Escorts Group, Cummins, Kirloskar Oil Engines Ltd., Sterling Generators Pvt. Ltd., Hero Honda Motor Co., Powerica Ltd., Briggs & Stratton, Ingersoll—Rand PLC, Yamaha Motor Pvt. Ltd., Generac, Paramac, Mitsubishi Heavy Industries, and Himoinsa S.L.
COVID-19 scenario analysis:
- Coronavirus outbreak has a significant impact on the global economy.
- Electricity as well as demand for gensets has already shown a downward trend due to shut down of industrial and commercial establishments, thereby leading to a financial crisis in the economy.
- Largest consumers, such as industries, factories, and railways, are shutting down or operating at a very limited aspect due to lockdown, which has made a big change in the level of demand for gensets.
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Key benefits of the report:
- This study presents the analytical depiction of the global commercial gensets market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global commercial gensets market share.
- The current market is quantitatively analyzed from 2022 to 2029 to highlight the global commercial gensets market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
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