Market Size of North America Generator Sets Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | High |
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?
North America Generator Sets Market Analysis
The North American Generator Sets Market is expected to register a CAGR of over 3% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, the ever-increasing demand for power, lack of reliable grid infrastructure, and the need for emergency backup power solutions are expected to drive the growth of the market studied.
- On the other hand, increasing the installation of renewable energy sources is expected to hamper the growth of the North American generator sets market during the forecast period.
- Nevertheless, emerging commercial and industrial sectors in Mexico and Canada are likely to create lucrative growth opportunities for the North American generator sets market in the forecast period.
- The United States dominates the market and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to the increasing investments in industrial and commercial sectors.
