China Generator Sets Market Size
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 2.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
China Generator Sets Market Analysis
The China Generator Sets Market is expected to rise at a CAGR of more than 2.2% during the forecast period.
COVID-19 negatively impacted the market in 2020. Currently., the market has not reached pre-pandemic levels and is expected to do so in one year.
- Over the medium term, factors such as lack of reliable grid infrastructure and the need for emergency backup power solutions in remote and rural areas are likely going to drive the China generator sets market.
- On the other hand, increasing the installation of renewable energy sources such as solar and wind to provide a cleaner power supply is expected to restrain the China generator sets market.
- However, new technology, such as the increasing popularity of hybrid generator sets, can use batteries, renewable energy, or grid power as a primary energy source. This is expected to create several opportunities for China's generator sets market in the future.
China Generator Sets Market Trends
This section covers the major market trends shaping the China Generator Sets Market according to our research experts:
Diesel Segment Expected to Dominate the Market
- A generator set, also known as a Genset, is a piece of portable equipment consisting of an engine and a generator used to provide energy. Gensets are usually used in developing areas and other areas not connected to the power grid, where power outages are frequent and where an outage can cause especially significant or dangerous problems, such as deep in a mine or hospital. They can serve as the primary source of energy or as a supplementary power source, perhaps during peak usage hours.
- Diesel-based gensets use diesel as a fuel for converting chemical energy to mechanical energy and then to electrical energy. Factors such as high-efficiency work output and maximum fuel energy density make it more cost-effective than the gas and other fuel-based generator sets and likely drive the diesel-based generator sets segment.
- The internal need for infrastructure projects in China has been the largest in the world and the country's requirement for infrastructure. Backing the above, in 2020, several numbers of people got affected by COVID-19. Due to such a sharp rise in the number of people that require intensive care, the government built several hospitals to treat the affected ones. The infrastructures of the hospitals were built using generator sets as a primary energy source or a backup power source for 24 hours of energy supply.
- A similar trend of COVID-19 was also observed in the country in 2022, leading to a rise in demand of diesel-based generators for power backup for health infrastructure.
- Hence, owing to the above points, diesel-based generator sets are likely going to dominate the china generator sets market during the forecast period.
Growing Industrialization Expected to Drive the Market
- China has the largest population, because of which there is a constant increase in the energy demand that requires an increasing number of industrial operations in the country and is expected to drive the generator sets market in the country. The continually growing demand for uninterrupted power supply in the country is also expected to drive the generator sets market in the country.
- The country's gas production industry is booming at a reasonable rate, which is likely going to drive the generator sets market in the country. The gas sector is one of the sectors where generator sets are used in an extensive amount to provide power to the site of gas production because of the remote areas in which wells are located. In 2021, China produced 209.2 billion cubic metres (bcm) of natural gas, which was higher than what was produced in 2020, 194 billion cubic metres (bcm).
- Moreover, steel production in China accounts for 50% of global steel production, which makes it a massive market for diesel generators. The steel industry is exceptionally energy-intensive, and its operations are highly dependent on power generated from diesel generator sets during the power outages.
- The generator sets are used for generating electricity, and in 2021 the total electricity generated in the country was 8534 terawatt-hours (TWh), which was higher than what country produced in 2020, 7779 terawatt-hours (TWh). Still increasing electricity generation cannot match the country's energy demand; there are still several electricity cuts in the country. This gap between demand and supply of energy is expected to drive the generator sets market in the country.
- As of 2022, China had 54 operational nuclear power reactors and 22 under construction or in the development phase. Due to the excessive use of coal-fired power plants and the pollution it causes, China government has a long term target to use more of closed-cycle nuclear power to satisfy its energy demand. These nuclear power plants are expected to use generator sets in case of a power outage or emergency.
- Hence, due to the above points, growing industrialization is expected to drive the China generator set market during the forecast period.
China Generator Sets Industry Overview
The China Generator Sets Market is fragmented. Some of the key players in this market include (not in particular order) Weihai Holding Group Co., Ltd., Caterpillar Inc., Cummins Inc., Atlas Copco AB, and Generac Holdings Inc.
China Generator Sets Market Leaders
Weichai Holding Group Co.,Ltd.
Caterpillar Inc.
Cummins Inc.,
Atlas Copco AB
Generac Holdings Inc
*Disclaimer: Major Players sorted in no particular order
China Generator Sets Market News
- June 2022: Rolls-Royce announced that the company will provide 70 of its MTU Series 4000 engines, produced in Yulin by MTU Yuchai Power, for use in generator sets that will be packaged and distributed by emergency power systems provider Hefei Calsion Electric System Co., Ltd. The gensets will be installed at multiple semiconductor manufacturing locations in China to ensure that chip production is not affected by power failures.
China Generator Sets Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
5. MARKET SEGMENTATION
5.1 Fuel Type
5.1.1 Diesel
5.1.2 Natural Gas
5.1.3 Others
5.2 Capacity
5.2.1 Below 75kVA
5.2.2 75-350kVA
5.2.3 Above 350kVA
5.3 End-User
5.3.1 Residential
5.3.2 Commercial
5.3.3 Industrial
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
6.2 Strategies Adopted by Key Players
6.3 Company Profiles
6.3.1 Doosan Corporation (Bobcat)
6.3.2 Generac Holdings Inc.
6.3.3 Atlas Copco AB
6.3.4 Rolls-Royce Holding PLC
6.3.5 Himoinsa (Yanmar Co., Ltd.)
6.3.6 Cummins Inc.
6.3.7 Caterpillar Inc.
6.3.8 Mitsubishi Corp
6.3.9 Kohler Co.
6.3.10 Weichai Holding Group Co.,Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
China Generator Sets Industry Segmentation
A generator set is a device used to produce electricity. It is made up of an electric generator and an engine mounted together. Generator sets can be used as the main or auxiliary source to meet energy needs reliably and efficiently for any type of application.
China Generator Sets Market is segmented by fuel type, capacity, and end-user. By fuel type, the market is segmented into diesel, natural gas, and others. By capacity, the market is segmented into below 75kVA, 75-350kVA, and above 350kVA. By end-user, the market is segmented into residential, commercial, and industrial. For each segment, the market sizing and forecasts have been done based on revenue (kWh).
| Fuel Type | |
| Diesel | |
| Natural Gas | |
| Others |
| Capacity | |
| Below 75kVA | |
| 75-350kVA | |
| Above 350kVA |
| End-User | |
| Residential | |
| Commercial | |
| Industrial |
China Generator Sets Market Research FAQs
What is the current China Generator Sets Market size?
The China Generator Sets Market is projected to register a CAGR of greater than 2.20% during the forecast period (2024-2029)
Who are the key players in China Generator Sets Market?
Weichai Holding Group Co.,Ltd., Caterpillar Inc., Cummins Inc., , Atlas Copco AB and Generac Holdings Inc are the major companies operating in the China Generator Sets Market.
What years does this China Generator Sets Market cover?
The report covers the China Generator Sets Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the China Generator Sets Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
China Generator Sets Industry Report
Statistics for the 2024 China Generator Sets market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China Generator Sets analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
