Diesel Generator Industry Overview
The global diesel generator market size is expected to reach USD 38.53 billion by 2030, escalating at a compound annual growth rate (CAGR) of 8.5% during the forecast period, according to a new report by Grand View Research, Inc. Proliferating demand for emergency power backup and stand-alone power generation systems across several end-use industries including manufacturing & construction, telecom, chemical, marine, oil & gas, healthcare, and others are likely to strengthen the market growth during the forecast period.
Rapid industrialization, infrastructure development, and continuous population growth are among the major factors driving global power consumption. Rising penetration of electronic device load across various commercial scale structures such as data centers has resulted in the higher deployment of diesel generators in order to prevent disruption of daily business activities and provide uninterrupted electricity supply during sudden power outages.
Diesel generator set manufacturers adhere to several regulations and compliances regarding the safety, design, and installation of the system. For instance, the Gen-set should be designed in facilities certified to ISO 9001 and be manufactured in facilities certified to ISO 9001 or ISO 9002, with the prototype test program authenticating the performance reliability of the gen-set design. Certifications from leading organizations such as the U.S. Environmental Protection Agency (EPA), CSA group, Underwriters Laboratories, and International Building Code are expected to enhance the product marketability over the forecast period.
Diesel Generator Market Segmentation
Grand View Research has segmented the diesel generator market based on power rating, application, and region:
Based on the Power Rating Insights, the market is segmented into Low Power, Medium Power, and High Power.
- The low power generator segment accounted for a significant market revenue share of 43.71% in 2021 owing to the presence of a wide application base in commercial and residential sectors. Generators with a capacity below 80 kW are used as power backup solutions in residential homes to power devices such as water pumps, water purifiers, AC units, geysers, and others.
- The high power generator segment is expected to attain a significant growth rate during the forecast period owing to its rising demand in power, manufacturing, and marine industry, where there is a huge requirement for continuous power supply. High-power diesel generators are installed for power generation and distribution across off-grid remote areas, as it is not economically feasible to supply direct grid power to several remote places.
Based on the Application Insights, the market is segmented into Industrial, Commercial, and Residential.
- The commercial application segment occupied the largest market revenue of USD 8.46 billion and is projected to register a substantial growth rate during the forecast period. The high growth rate can be attributed to the wide application scope including several industries such as data centers, government centers, educational institutions, healthcare, hospitality, telecom, agriculture, and others.
- The industrial diesel generator segment accounted for the second-largest market revenue share of USD 6.61 billion in 2021. The segment includes the manufacturing and construction sector, electric utilities, mining, transport & logistics, and oil & gas sector, these sectors draw huge product demand citing their heavy power consumption operations.
- The residential segment is expected to witness significant growth over the forecast period on account of rising customer awareness, growing load demand on the primary grid, and a growing number of power failures, which are among the critical factors propelling the product demand across the residential sector.
Diesel Generator Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Major industry participants are practicing several organic and inorganic strategic growth initiatives in order to expand their service portfolio and enhance their foothold in the market. Some of the prominent market players in the global diesel generator market include:
- AKSA power generation company
- Atlas Copco AB
- Caterpillar
- Cummins Inc.
- Doosan Portable Power
- Generac Power System Inc.
- Honda India Power Products Ltd.
- Kohler Co.
- Rolls-Royce plc
- Wartsila Corporation
Order a free sample PDF of the Diesel Generator Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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