Market Research Report: Gensets To Get Even Smarter

gensets get smarter Navigant Research
Credit: Caterpillar

Gensets are getting more smart features now that the global power equation is shifting toward distributed, intelligent, and interconnected generation, a new report from Navigant Research shows.

The report, “Automated, Interactive, and Analytics-Enabled Reciprocating Generator Sets for Dispatchable Power Applications: Global Market Analysis and Forecasts,” found that traditionally gensets would often sit dormant until a power outage happens. Now the pace of smart genset development is picking up, driven by customers seeking advanced features such as enhanced maintenance, microgrid interactivity, and demand response, the report says.

Smarter gensets are being made possible through advances in control technologies and increasing connectivity of devices in the energy cloud, according to Navigant Research.

“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,” Navigant Research notes. “These types of projects present an opportunity to improve genset operation through fuel savings, improved asset management, or predictive analytics for enhanced maintenance.”

A separate report from Navigant Research last fall predicted that the market for new diesel and natural gas gensets would surpass $33 billion by 2026.

“The global genset industry has much in common with utilities: century-old business models based around fossil fuels and the journey to adapting to the new reality of smarter, cleaner, and more distributed power,” Adam Forni, a senior research analyst with Navigant Research said in November. “In this changing environment, genset companies are leveraging their distributed advantage while adopting new business models related to microgrids, energy storage, and smart dispatch of power to support the grid.”

Key engine and genset companies identified in the latest report include:

  • Caterpillar
  • Cummins
  • GE Power
  • Generac
  • Kohler
  • MTU Onsite Energy
  • Siemens
  • Wärtsilä

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