North America Genset Market Size, Research, Analysis

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North America Genset Market to Grow on Account of
Growing Construction Industry in the Region
Market to Garner a Revenue of USD 11067.1
Million by 2030 Kenneth Research has released a
report titled North America Genset Market
Demand Analysis Opportunity Outlook 2030 which
also includes some of the prominent market
analyzing parameters such as industry growth
drivers, restraints, supply and demand risk,
along with the impact of COVID-19 and a detailed
discussion on the latest trends and future
opportunities that are associated with the growth
of the market. The total construction spending in
the United States, according to the statistics
by the United States Census Bureau, touched USD
13582 Million in December 2021, up from USD
98770 Million in December 2017.
Request sample report https//www.kennethresearch
.com/sample- request-10352359
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The statistics portray the growing construction
industry in the United States, along with the
surge in the total number of commercial and
residential buildings. With this surge in the
number of buildings, the need for uninterrupted
and reliable power supply source is also growing.
As a result, there is a growing need for backup
power supply sources in case of a power outage
or power fluctuation issue. Such a factor is
therefore anticipated to drive the growth of the
market in the coming years. The North America
genset market is anticipated to grow with a CAGR
of 4.7 (by volume) during the forecast period,
i.e., 2021-2030. The market is estimated to
garner a revenue of USD 11067.1 Million by the
end of 2030. Additionally, the market in the
region generated a revenue of USD 6385.8 Million
in the year 2020. The market is segmented by
genset type into standby, prime/continuous, and
peak shaving. The standby generator segment, out
of all the other segments, is anticipated to
garner the largest volume of 1888811 units by
the end of 2030. Further, the segment is
projected to grow with the highest CAGR of 4.8
during the forecast period. The North America
genset market is further segmented by country
into the United States, Canada, and Mexico, out
of which, the market in the United States is
anticipated to generate the largest revenue of
USD 8969.9 Million by the end of 2030.
Additionally, the market in the country generated
a revenue of USD 5236.3 Million in the year 2020
and further grow with a CAGR of 5.6 during the
forecast period. However, the growing stringent
regulations to lower carbon footprint emitted
from gensets, and the difficulties in operating
gensets during extreme weather conditions are
some of the major factors predicted to hinder
the market growth.
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This report also provides the existing
competitive scenario of some of the key players
of the North America genset market, which
includes company profiling of Cummins Inc., AKSA
POWER GENERATION, DEUTZ AG, Caterpillar Inc.,
Briggs Stratton, Generac Power Systems, Inc.,
Rolls-Royce plc, Kohler Co., MITSUBISHI HEAVY
INDUSTRIES, LTD., Taylor Power Systems, Inc,
Gillette Generators, and others. The profiling
enfolds key information of the companies which
comprises of business overview, products and
services, key financials and recent news and
developments. Conclusively, the report titled
North America Genset Market Demand Analysis
Opportunity Outlook 2030, analyses the overall
North America genset industry to help new
entrants to understand the details of the
market. In addition to that, this report also
guides existing players looking for expansion and
major investors looking for investment in the
North America genset market in the near
future. Request sample report https//www.kenneth
research.com/sample- request-10352359 Kenneth
Research is a leading service provider for
strategic market research and consulting. We aim
to provide unbiased, unparalleled market insights
and industry analysis to help industries,
conglomerates and executives to take wise
decisions for their future marketing strategy,
expansion and investment, etc. We believe every
business can expand to its new horizon, provided
a right guidance at a right time is available
through strategic minds. Our out of box thinking
helps our clients to take wise decision so as to
avoid future uncertainties. Contact for more
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