Genset Enclosure Market Size

Genset Enclosure Market size is poised to reach USD 79 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of genset enclosure was USD 49 Billion. The reason behind the growth is due to the increasing need for power across the globe. For companies whose operations depend on generators, generator enclosures are essential equipment to ensure that the generator operates safely and continues to supply electricity to the business. According to estimates, over the past 50 years, global power consumption reached over 25,000 terawatt-hours in 2022.

The growing introduction of advanced generators is believed to fuel the market growth. For instance, in February 2023 Caterpillar introduced Cat XQ330 mobile diesel generator set powered by the Cat C9.3B diesel engine equipped with numerous rental-ready features and the EMCP 4.4 digital control panel to enable remote tracking and management of the generator by combining all generator set controls and system indications into a single interface while adhering to strict emissions regulations.