The global diesel generator market is expected to grow from USD 17.23 billion in 2022 to USD 30.89 billion in 2030 at a CAGR of 8.70% in the 2022-2030 period. This growth is attributed to factors such as:
· Increasing demand for uninterrupted and reliable power supply from commercial and industrial sectors, especially in developing regions.
· Rising investments in infrastructure development and rapid industrialization, which is fueling the demand for power.
· Growing demand for diesel generators as backup power sources in data centers, healthcare facilities, and other critical infrastructure.
A device that converts chemical energy into electrical energy with the help of devices such as an electric generator and a diesel engine is known as a diesel generator. It can function for many hours or weeks or till the power grid is recovered.
The diesel generator has an efficiency of between 30% and 50% and is a mixture of diesel engine and alternator efficiencies. The main benefits of diesel generators are prolonged durability, high efficiency, economic nature than other generators, and quick start-up time. Anyways, the use of diesel generators leads to environmental pollution, which requires operating costs and high maintenance.
The growth of the diesel generator market is driven by rapid industrialization & urbanization and a rise in demand for continuous & stable power supply in the developing economies. The main factors hindering the market's growth are the implementation of strict government guidelines toward greenhouse gas emissions from diesel generators and the fast development of the renewable energy sector.
The increasing technological advancements in diesel generators and the rise in demand for energy from several end-use industries are predicted to provide profitable growth opportunities for the main players to maintain their position in the forthcoming years. The pandemic covid-19 has formed the need for a power supply without interruption to relieve the burden on healthcare workers. Governments worldwide invest in diesel-powered generators for continuous power supply and boost staff members to restrict the economic impact. The demand for power in urban hospitals and rural clinics can operate the demand for diesel generators.
Solution providers all over the market are mainly responsible for generator system manufacturing, maintenance, installation, and repair. Generator dealers or electrical contractors set up maintenance contracts and product supply with the end-market consumers present across commercial places, residential places, and small-size companies using generators for emergency power backup systems. The companies allocate an in-house monitoring engineer to oversee numerous generators in industrial-scale operations.
Key Players:
· Kirloskar Electric Company (India)
· Denyo Co Ltd (Japan)
· Greaves Cotton Limited (India)
· Ashok Leyland (India)
· Mitsubishi Heavy Industries Ltd (Japan)
· Rolls-Royce plc (UK)
· WÃrtsilà (Finland)
· Caterpillar (US)
· Cummins Inc (US)
The segmentation of the market and the regional analysis of the diesel generator market.
The diesel generator market across the world is divided into type, mobility, cooling system, application, end-use industry, and Region. On the basis of type, the market is divided into small, medium, and high. Based on mobility, it is divided into stationary and portable. Based on the cooling system, it is categorized into air-cooled and liquid-cooled. Based on the application, it is divided into standby backup power and peak shaving. The market is divided into residential, commercial, and industrial based on the end-use industry. By Region, the market is divided across North America, Europe, Asia-Pacific, and LAMEA.
In 2019 Asia-Pacific had the highest share in the market on the basis of revenue, and it is predicted to maintain its dominance throughout the estimated period. This is considered to be the presence of the main players and a large consumer base in the Region. The Diesel gensets market size is gaining importance in the fields such as construction, healthcare, and IT industries, due to its reliability and superior fuel efficiency, which are anticipated to strengthen the growth of the market during the prediction period.
Related Reports
Electrical Substation Management Market Share
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian