Need for uninterrupted power supply across industries to evoke adoption of industrial gensets
The industrial sector is currently expanding at an unprecedented pace globally, paving way for a phenomenal development of industrial generator sets market over a while now. A predominant reason towards this progression is the massively rising energy demands across a plethora of industries encompassing mining, manufacturing, oil and gas, transport and logistics, and several others.
Industries have always been on a demand spree for uninterrupted power supply to ensure maximum performance, as even a brief outage could lead to significant losses in terms of productivity and revenue shares. Given the consequences of power outages, companies invest substantially in back-up power systems, driving the overall business space over the forecast time frame.
Recently, KOHLER-SDMO introduced one of its most powerful generator sets in the global market. In early October 2020, the company announced launch of its new 4500kVA, 50 hertz / 4000kW, 60 hertz diesel powered gensets. The launch comes on heels with a strong market response and mounting demand for power across diverse critical applications. Moreover, this move would also expand the limits of standby generators while enabling the company to stand apart in powerful diesel genset market.
Such initiatives in line with heavy investments in infrastructural development, especially in emerging economies like India, China, and others would potentially support the global industrial generator sets industry growth over foreseeable future. What has been escalating the demand for these gensets across the aforementioned nations is the thriving construction industry. As the population across these nations is gradually rising, people have been demanding proper housing infrastructure which has offered a considerable impetus to the regional construction industries.
Elaborating further, the U.S industrial generator sets market is also likely to expand over the coming years. The country is home to vivid major manufacturing plants and is also well acclaimed to be the world’s second largest coal producer. The expansive industrial base in the States will generate huge demand for industrial gensets from manufacturing, mining, and other sectors.
Speaking of the industrial gensets across mining industry, it is important to mention that the sector would emerge as a remunerative vertical across the overall global market. Resource-rich countries say for example Canada acquired a mineral exploration expenses share of USD 2.3 billion in 2018. Rising adoption of automated solutions and superior performance machinery paired with rapid development in mining processes will stimulate mining equipment market dynamics, which in turn will bolster global industrial generator sets industry expansion.
In line with the mining end user industry, oil and gas sector is all set for a huge operational overhaul via the adoption of ongoing digitization and technology. Market players in this domain are digitizing mechanical processes through robotic process automation. Implementation of such technologies would bolster the need for industrial generator sets within the oil & gas industry.
It is noteworthy to mention that growing cognizance pertaining to the promotion of green economy, the demand for natural gas industrial generator sets is rising at a prodigious pace, driven by the supportive regulations concerning environmental conservation. Vitality of the aforesaid is offered by New York’s recent initiative in the given business space. As per news reports, the country government had in 2019 introduced new climate targets including carbon free electricity by 2040 and net-zero carbon emissions by 2050; a move which will accelerate the deployment of natural gas industrial generators in the region.
The government’s efforts to boost the global economy would enable the global industrial generator sets industry to carve a profitable growth graph for itself in the years to follow.