Diesel Generator Market Overview:
The global Diesel Generator Market has been expected to rise at a CAGR of 4.80%, during forecast period of 2022-2030.
Rapid Industrialization to Influence Market Growth
Rapid pace of industrialization in developing economies and improved living standards has set the stage of diesel generators. Low price of diesel as compared to gas coupled with need for manufactured goods can drive its integration with ready power sources. Efforts to proliferate electrification in rural areas and rise of data centers to handle the data loads of increasing customers can drive market growth significantly. New technologies in these generators have improved their efficiency and reduced their reliance on power grids.
Increasing Power Outages to Propel Market Growth
The surge in power outages owing to rising consumption of content and streaming services as well as inclination towards development of new goods can require new sources of power. Establishment of data centers and IT enabled services as well as awareness among customers regarding power supply can drive market growth. Vulnerability of power grids and substations against natural disasters as well as demand of power backup solutions will bode well for the market. Generator dealers offer contractors with clients for repair and maintenance purposes to ensure long deals. Lack of grid infrastructure in remote locations and demand for continuous power supply by burgeoning industries will drive market demand.
Request Sample Report @ https://www.marketresearchfuture.com/sample_request/3001
Report Attribute/Metric
Details
CAGR
4.80% CAGR (2022-2030)
Base Year
2021
Forecast Period
2022 to 2030
Historical Data
2019 & 2020
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Power Rating ,Portability and End-Use
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Stringent Government Regulations to Hamper Market Growth
New government regulations launched by countries to stem carbon emission levels and control energy consumption can negatively affect market growth. Heavy weight of diesel generators as compared to inverters coupled with preference of gas generators can be a challenge to the market.
COVID-19 Impact
The COVID-19 outbreak has led to a dip in demand of diesel generators owing to lack of construction projects and switch to renewable energy backup options. In addition, changing energy standards and new policies mandated by economies to be sustainable and curb emission levels can lead to a decline in diesel generators. But expansion of manufacturing firms and ease of lockdown restrictions can bode well for the market.
Segmentation Analysis
Between 75 to 375 kVA Segment to Gain Market Share
By capacity, the market is segmented into less than 75 kVA, between 75 to 375 kVA, and more than 375 kVA. The ‘between 75 to 375 kVA’ segment is set to dominate the diesel generator market owing to its demand in Brazil, India, and China. Demand for economical backup options as well as application in petrol pumps, small-scale industries, and telecom sector can drive segment growth. Long lifespan and reliability are characteristics attracting customers towards this rating of diesel generators.
Commercial End-users to Lead Global Market
Commercial end-users are likely to capture a large market share over the forecast period due to its wide application in telecommunication, data centers, government centers, educational institutions, telecom, and hospitality sectors. Diesel generators are used for handling power outages or power fluctuations.
Regional Analysis
APAC to Display Highest CAGR
Asia-Pacific (APAC) is deemed to showcase a strong growth rate over the forecast period owing to cheap rates of diesel and affordability among customers. Rapid pace of industrialization and increase in goods manufacturing can drive its demand among corporations looking to compete on a global level. Adoption by IT and IT-enabled services and telecommunication sectors can provide new opportunities of growth to the industry in the coming years.
Industry Update
The County of Sonoma in California, U.S., has installed 13 diesel generators at evacuation centers and public facilities to move its reliance from grids.
Competitive Analysis
Mitsubishi Heavy Industries Ltd (Japan), Greaves Cotton Limited (India), Denyo Co Ltd (Japan), Ashok Leyland (India), Wärtsilä (Finland), Caterpillar (US), Kirloskar Electric Company (India), Rolls-Royce plc (UK), and Cummins Inc (US) are prominent players of the global diesel generator market. Contracts, agreements, and expansions are favored strategic approaches by players to sustain their standing.
