Rising demand for electric ground support to supplement the GPU market

The Ground power unit (GPU) market worldwide is expected to grow with a CAGR of 4.7% during the forecast period from 2023 to 2030, starting from US$ 7.98 Bn in 2020. Ground Power Unit also abbreviated as GPU is a immovable power supply for aircraft parked on the ground or a powered vehicle. A GPU may refer to a specific power supply, battery power supply, or a combination of both. Power sources might be an airport-based dedicated generator or central station. Some of the factors expected to fuel the growth of the ground power unit market are increased demand for electric ground support equipment, increased airport warehouse operations, and ongoing airport expansions to cater for the rising global air passenger traffic.

Mobile GPU to dominate the market throughout the forecast period

In 2021, the mobile GPU segment dominated the global ground power units market majorly due to increasing demand for easy-to-use and movable GPUs. To provide either 28V DC or 120V AC power, mobile units can be linked to an aircraft's electrical system while on the ground. Mobile ground power units usually consist of a diesel-powered generator but can be found in other configurations. Mobile GPU plays an important role in the operation of airports as it enables airlines to achieve on-time performance. Increasing aircraft movements and increasing the number of airport expansion projects are expected to drive market segment growth over the forecast period.

Asia Pacific to Register the Fastest Growth

In 2021, the global Ground power unit (GPU) market was led by Asia-Pacific. This region accounted for nearly 37.4% of the total revenue generated worldwide. High economic growth, rising number of airports, major developments in the Chinese and Indian aerospace industry, huge capital investments by the governments of several economies are some major factors driving the Asia-Pacific ground power unit market.

In commercial applications across the North American region and in some parts of the European region, the adoption of electric ground support equipment has increased. However, diesel ground support equipment is still being used in the Asia Pacific region in various commercial applications. Due to a constant increase in airport expansion projects to cater the increasing number of cargo movements and air passengers, the Middle East ground support equipment market region is projected to grow at the highest CAGR during the forecast period.

Some of the prominent players operating in the ground power unit (GPU) market include TLD GSE, ITW GSE, Powervamp, JBT Corporation, Acsoon, Textron GSE, Tronair, GUANGTAI, Guinault and Velocity Airport Solutions among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Ground Power Unit (GPU) market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Ground Power Unit (GPU) market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Ground Power Unit (GPU) market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Ground Power Unit (GPU) market?
• Which is the largest regional market for Ground Power Unit (GPU) market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Ground Power Unit (GPU) market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Ground Power Unit (GPU) market worldwide?