Generator Sets Market Trends

Growth Drivers

• Growth in Production of Emission by Thermal Power Plant - Around 4.11 trillion kilowatthours (kWh) of electricity were produced in the United States by utility-scale electric power plants (plants with a minimum capacity of one megawatt) in 2021, which led to the release of 1.65 billion metric tons—1.82 billion short tons—of carbon dioxide (CO2). Generator sets provide an energy production model that increasingly enables one to leave the least amount of an environmental footprint, as opposed to the significant impact left by the emissions produced by thermal power plants. Using fuels with minimal CO2 emissions, such as natural gas or liquefied petroleum gas (LPG), for generators is the current trend. Also, these are low-noise devices that don't contribute to noise pollution.
• Rise in Number of Data Centers - In the entire world, there are 8,000 data centers. Hence, the demand for generator sets is estimated to increase. To keep their servers online, data centers need steady power. Server availability may be impacted by power outages. These interruptions may cause businesses with internal servers to lose productivity. If a power outage affects the servers that companies host for other businesses, those businesses would suffer. Generator sets protect against lost revenue and decreased productivity for data centers and any other enterprises that need continual power for their systems.
• Surge in Production of Fuel - In 2021, about 90 million barrels of oil were produced daily globally. With almost 94 million barrels produced, oil production in 2019 reached a record high.
• Loss of Life in Hospital Owing to Outage - Maintaining power could represent the difference between life and death in the healthcare industry. Between 2019 and 2021, at least 230 people perished as a result of power outages in France, Venezuelan hospitals. For instance, backup power supplies including gensets are typically present in hospitals. In the event of a storm or widespread blackout, several power sources may supply electricity. To assure an endless supply of fuel from the nearby gas lines, the generators for these kinds of facilities may be connected to a natural gas supply. These generators don't need to have their fuel tanks refilled. When the main power is turned off, they could also switch on automatically.
• Upsurge in Adoption of Generators - An about 200% rise in generator sales was found when statistics from the first 11 days of October 2021 were compared to the same period of the year, in UK.

Challenges

• Growing Adoption of Renewable Source of Energy 
• Require High Investment to Set Generator
• Stringent Government Regulations in Order to Reduce the Emission - There are several homes, business, and industrial uses for diesel generators. Nitrogen oxides, carbon monoxide, and particulate matter are released when diesel is burned. These pollutants harm both people and the environment as they are directly emitted into the atmosphere. In order to lessen the air and noise pollution caused by generator sets, certain laws have been put into place worldwide. Each nation has developed its own set of rules and policies to combat air pollution in response to growing environmental concerns.