Construction Generator Sets Market Regional Analysis:
North America Market Insights
North America industry is poised to account for largest revenue share of 34% by 2035. The market growth in the region is also expected on account of increasing demand for power backup solutions in the construction sector and harsh environments, which can be operated in extreme weather conditions such as hurricanes and winter storms. These generator sets are set to create an environment that has positive impacts on the business. Moreover, technological advancements will contribute to the market growth as the rising adoption of cleaner and more efficient power sets is growing. According to a recent report published in 2022, the construction sector has remained fairly steady at 4.1% in the US and 7.4% in Canada. The healthcare sector is witnessing rapid growth in the adoption of these generator sets focusing on lower emissions, cost-effectiveness and continuous availability of sets is propelling the deployment of construction generator set units.
APAC Market Insights
The Asia Pacific market is estimated to be the second largest, registering a share of about 25% by the end of 2035. The market’s expansion can be attributed majorly to the rapid growth in infrastructural development. China is the leading producer of generator sets market in the Asia-Pacific region. As per the recent report published in January 2019, road-related construction projects in Asia-Pacific are growing with a total value of USD 2 trillion. Out of this amount, around USD 800 billion is in the execution stage and USD 300 billion is in the planning stage. China accounts for the highest value with USD 632 billion, followed by India with projects valuing USD 218 billion. As the infrastructural projects are growing with expansion in power demand-supply gap across the country resulting in demand for construction generator sets. Moreover, generators operated by using diesel as a fuel are benefitting the country as they are cost-effective and the living standard is improving leading to the demand for power backup devices.
