Genset Enclosure Market: Current Analysis and Forecast (2021-2027)
$4999 – $8699
Emphasis on Material Type (Metallic and Non-Metallic); Enclosure Type (Well-Mounted, Floor Mounted, And Underground); Industrial Vertical (Power Generation & Distribution, Oil and Gas, Mining, Medical, Pulp & Paper, Food and Beverages, Transportation, And Others); and Region/Country
Detailed Analysis of COVID-19 Impact on the Genset Enclosure Market
Genset enclosure is considered as a protective barrier for generators that are being housed outdoors, or outside of their facility. It offers weather protection to sound attenuation (soundproofing), walk-in enclosures, and other enclosure design considerations such as ventilation and temperature, space, security, fuel, and others. Factors such as the rising use of generation in industrial, commercial, and residential applications are escalating its market size. In industrial application, building designer looks for making the most use of every space within the building, moving the generator set outdoors which is most likely to require frequent maintenance for traditional gensets.
Therefore, the genset enclosure helps in ensuring complete waterproofing of generators, sound attunement, customized design, and others. In addition, the genset enclosure caters to significant demand from large-scale renovations, up-gradation of building to meet the power demands enclosure helps in improving the shelf life of the generator coupled with less maintenance ensure cost-effectiveness which in turn is further escalating its market demand across the globe.
The global Genset Enclosure market is expected to grow at a CAGR of 6% during the period 2021-2027. Factors such as growing government restrictions to reduce noise pollution, growing power demand in the industrial sector across the globe and increasing need for protection of the workforce and workplace. Along with these, rising demand for hygienic enclosures in the food and beverages industry, and escalating adoption of industrial internet of things (IIoT) enabled enclosures, are also crucial factors expected to drive market growth in the upcoming years. Furthermore, the acceptance of intelligent transport systems in the transportation vertical, and stringent government regulations regarding safety in the workplace are projected to offer profitable opportunities to the market outlook. Moreover, many key players employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
EK Machine Co. Inc., N. S. Energy Group, Hennig Inc., KDM Steel, Apollo Power Systems Pvt. Ltd., Phoenix Products, Global Power Supply LLC, Metal Form Manufacturing LLC, Generator Source LLC, and GAL Power are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Based on material type, metallic segment accounted for the majority share in the market in 2020”
Based on the material type, the Genset Enclosure market is segmented into metallic and non-metallic. The metallic segment caters to extensive market share in the gensets enclosure market. It is mainly owing to its features such as metallic enclosures are stronger, and more durable than other materials. Moreover, Weather and sound attenuated enclosures are fabricated in the sheet metal of a sufficient thickness to provide a rigid canopy that does not bend or flex with normal use which in turn is escalating the market size of gensets enclosure.
“Amongst enclosure type, the wall-mounted segment is expected to witness highest CAGR during the forecast period”
Based on the enclosure type, the gensets enclosure market is segmented into well-mounted, floor-mounted, and underground. Wall-mounted segment caters extensive share of the gensets enclosure market. A wall mounting enclosure serves a double function of saving space, storing components, and safeguarding them from dirt, dust, and moisture. Moreover, wall-mounted enclosure types are generally used in industries to protect different electrical switches and terminal compartments.
“Amongst industrial vertical, power generation segment is expected to witness highest CAGR during the forecast period”
Based on the industrial vertical, the gensets enclosure market is segmented into power generation & distribution, oil and gas, mining, medical, pulp & paper, food and beverages, transportation, and others. The power generation & distribution segment acquired a considerable market share in the gensets enclosure market. Factors such as high usage of gensets casings in this industry in substations for protecting critical components and circuitry. In addition, the rising demand for electricity and energy in emerging economies is also predicted to boost the market segment’s growth in the future.
“North America to witness significant growth during the forecast period”
North America is expected to hold an extensive share in the Genset Enclosure market and is expected to grow at an influential rate in the forecasted period as well. Factors such as attributing to the growing industrial automation and smart home integration, and high awareness about energy conservation in the region. In addition, increasing industrial automation and smart home integration, and high awareness levels about energy conservation in the region are escalating the market size of genset enclosure.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Genset Enclosure Market|
|2.2.||Research Methodology of the Genset Enclosure Market|
|2.5.||Main Objective of the Genset Enclosure Market Study|
|5||GLOBAL GENSET ENCLOSURE MARKET COVID-19 IMPACT|
|6||GLOBAL GENSET ENCLOSURE MARKET REVENUE 2019-2027F|
|9.1.||Power Generation & Distribution|
|9.2.||Oil & Gas|
|9.5.||Pulp & Paper|
|9.6.||Food & Beverages|
|10.1.3.||Rest of North America|
|10.2.6.||Rest of Europe|
|10.3.4.||Rest of Asia Pacific|
|10.4.||Rest Of the World|
|12||GENSET ENCLOSURE MARKET OPPORTUNITIES|
|13||GENSET ENCLOSURE MARKET TRENDS|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|16.1.1.||Porter’s Five Forces Analysis|
|17.1.||EK Machine Co. Inc.|
|17.2.||N. S. Energy Group|
|17.5.||Apollo Power Systems Pvt. Ltd.|
|17.7.||Global Power Supply LLC|
|17.8.||Metal Form Manufacturing LLC|
|17.9.||Generator Source LLC|
Research Methodology for the Global Genset Enclosure Market Analysis (2021-2027)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Genset Enclosure market were the three major steps undertaken to create and analyze the adoption of Genset Enclosure in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Genset Enclosure market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Genset Enclosure market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Genset Enclosure market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as material type, enclosure type, and industrial vertical. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the genset enclosure market. Further, we conducted factor analysis using dependent and independent variables such as Increasing need for protection of the workforce and workplace. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Genset Enclosure market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global genset enclosure market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the genset enclosure market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Genset Enclosure market in terms of material type, enclosure type, and industrial vertical.
- Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Genset Enclosure market. Data was split into several segments & sub-segments post studying various parameters and trends in material type, enclosure type, and industry vertical in the global Genset Enclosure market.
The main objective of the Global Genset Enclosure Market Study
The current & future market trends of the global genset enclosure market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the genset enclosure market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the material type, enclosure type, and industrial vertical.
- Define and analysis of the regulatory framework for the genset enclosure market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the genset enclosure market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world.
- Company profiles of the genset enclosure market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry