A new Leaderboard Report from Navigant Research examines the strategy and execution of nine smart generator set (genset) vendors, with Caterpillar, Inc. and Wärtsilä ranked as the leading market players.
Reciprocating gensets have traditionally been deployed with simple control systems, often sitting dormant until a power outage occurs. But as the global power generation landscape becomes more distributed, interconnected, and competitive, vendors are adding smart features to gensets at an accelerated pace. This trend is primarily driven by customers demanding advanced features such as enhanced maintenance, microgrid interactivity, and demand response. Click to tweet: According to a new Leaderboard report from @NavigantRSRCH, Caterpillar, Inc. and Wärtsilä are the leading smart genset vendors.
“While these companies focus on different parts of the market, both are leading genset companies that have also been leaders in pushing smart genset offerings to the market,” says Adam Forni, principal research analyst with Navigant Research. “Core to these offerings is enhanced interactivity—with human operators, with the larger electrical grid, and with other localized distributed energy resources (DER) such as solar PV.”
According to the report, smart features are in higher demand for projects with critical loads, larger capacity, or where the genset is especially interactive with the larger grid or onsite resources. 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 costs of alternative energy resources such as solar and storage.
The report, Navigant Research Leaderboard: Smart Genset Vendors, examines the strategy and execution of nine leading suppliers active in the smart gensets market. These vendors are rated on 12 criteria: vision; go-to-market strategy; partners; digital differentiation; business model innovation; geographic reach; sales, marketing, distribution; value chain capture; microgrid-interactive genset portfolio; grid-interactive genset portfolio; pricing; and staying power. Using Navigant Research’s proprietary Leaderboard methodology, vendors are profiled, rated, and ranked with the goal of providing industry participants with an objective assessment of these companies’ relative strengths and weaknesses in the growing smart gensets market. An executive summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Guidehouse, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of clean, intelligent, mobile, and distributed energy. Additional information about Navigant Research can be found at www.navigantresearch.com.
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* The information contained in this press release concerning the report, Navigant Research Leaderboard: Smart Genset Vendors, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.