The diesel genset market is expected to grow at a CAGR of 6.5% from 2023 to 2030, reaching a value of USD 27.55 billion by 2030. This growth is being driven by the increasing demand for emergency and stationary power backup across a variety of end-use industries, including marine, oil and gas, manufacturing, healthcare, construction, telecom, and automotive.
One of the key factors driving the growth of the diesel genset market is the increasing demand for continuous and dependable power supply from a wide range of end-users, including healthcare facilities, manufacturing facilities, and data centers. In addition, the growing demand for power in emerging economies is also contributing to the growth of the market..
A diesel genset is a type of generator that uses a diesel engine to generate electricity. The engine drives an alternator that produces electrical power, which can be used as a backup power source in case of a power outage or off-grid applications.
The COVID-19 pandemic has had a significant impact on the diesel genset market, with both positive and negative effects.
On the one hand, the lockdowns and restrictions on movement have led to a decrease in demand for diesel gensets, as there has been a decrease in construction and industrial activities.
On the other hand, there has been an increased demand for diesel gensets as backup power sources in residential and commercial buildings, as the pandemic has led to an increased need for reliable electricity supply in case of power outages. Additionally, the healthcare sector has seen an increase in demand for diesel gensets, as they are used to power medical equipment and facilities.
Key Players
· Cummins Inc. (US)
· Aggreko Ltd (UK)
· SDMO (France)
· PRAMAC (Italy)
· Generac Holdings Inc. (US)
· HIMOINSA (Spain)
· Caterpillar (US)
· Atlas Copco (Sweden)
· Doosan Corp (South Korea)
· AB Volvo (Sweden)
Regional Analysis
The Asia-Pacific region is expected to be the fastest-growing market for diesel gensets, due to factors such as the large population, rapidly growing economies, and increasing demand for reliable power supply in countries such as China, India, and Japan. Additionally, supportive government policies and initiatives, as well as the presence of major market players, are contributing to the growth of the diesel genset market in the Asia-Pacific region. The region's increasing investment in infrastructure development and industrialization is also driving the growth of the diesel genset market.
Market Segmentation
The Global Diesel generator market Size has been segmented into probability, application, and power rating.
Based on the probability, the market has been segmented into Stationary and Portable.
Based on the power rating, the market has been segmented into Up to 100 kVA, 100 kVA-350 kVA, 350 kVA-1,000 kVA, and Above 1,000 kVA.
Based on the application, the market has been segmented into Standby, Peak Shaving, and Continuous.
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