Global Market for Smart Generator Sets to Top $18.5 Billion in Annual Revenue by 2026
February 12, 2018 | Navigant ResearchEstimated reading time: 1 minute
A new report from Navigant Research examines the global market for diesel and natural gas reciprocating generator sets (gensets), providing an analysis of key market developments and issues, with global forecasts that extend through 2026.
As the global power equation shifts toward generation that is more distributed, intelligent, and interconnected, smart features are being incorporated into gensets at a growing pace. Customers are now demanding advanced features like enhanced maintenance, microgrid interactivity, and demand response, enabled by advances in control technologies and the increasingly ubiquitous connectivity of devices in the Energy Cloud. According to a new report from @NavigantRSRCH, the market for smart gensets is expected to surpass $18.5 billion in annual revenue by 2026 at a compound annual growth rate (CAGR) of 10.5%.
“Gensets are gaining a surge of smart features, thanks to improved controls and software, and demands from customers that they provide more services,” says Adam Forni, senior research analyst at Navigant Research. “While many older gensets just waited for the grid to go down, smart gensets are increasingly interactive—with human operators, with other DER, and with the grid itself.”
Customers adopt smart gensets for a variety of applications, but some common project characteristics include critical loads, remote sites, sophisticated customers, higher fuel costs, and larger and more complex projects. According to the report, genset vendors and controller and software companies are embracing these value streams, both to provide added value to customers and to compete against the falling prices of alternative energy resources like solar and storage.
Suggested Items
KIC’s Miles Moreau to Present Profiling Basics and Best Practices at SMTA Wisconsin Chapter PCBA Profile Workshop
01/25/2024 | KICKIC, a renowned pioneer in thermal process and temperature measurement solutions for electronics manufacturing, announces that Miles Moreau, General Manager, will be a featured speaker at the SMTA Wisconsin Chapter In-Person PCBA Profile Workshop.
The Drive Toward UHDI and Substrates
09/20/2023 | I-Connect007 Editorial TeamPanasonic’s Darren Hitchcock spoke with the I-Connect007 Editorial Team on the complexities of moving toward ultra HDI manufacturing. As we learn in this conversation, the number of shifting constraints relative to traditional PCB fabrication is quite large and can sometimes conflict with each other.
Standard Of Excellence: The Products of the Future
09/19/2023 | Anaya Vardya -- Column: Standard of ExcellenceIn my last column, I discussed cutting-edge innovations in printed circuit board technology, focusing on innovative trends in ultra HDI, embedded passives and components, green PCBs, and advanced substrate materials. This month, I’m following up with the products these new PCB technologies are destined for. Why do we need all these new technologies?
Experience ViTrox's State-of-the-Art Offerings at SMTA Guadalajara 2023 Presented by Sales Channel Partner—SMTo Engineering
09/18/2023 | ViTroxViTrox, which aims to be the world’s most trusted technology company, is excited to announce that our trusted Sales Channel Partner (SCP) in Mexico, SMTo Engineering, S.A. de C.V., will be participating in SMTA Guadalajara Expo & Tech Forum. They will be exhibiting in Booth #911 from the 25th to the 26th of October 2023, at the Expo Guadalajara in Jalisco, Mexico.
Intel Unveils Industry-Leading Glass Substrates to Meet Demand for More Powerful Compute
09/18/2023 | IntelIntel announced one of the industry’s first glass substrates for next-generation advanced packaging, planned for the latter part of this decade.