ID: MRFR/E&P/8063-CR | April 2020 | Region: Global | 185 pages
Diesel Generator Market is projected to be worth USD 30.81 billion by 2028, registering a CAGR of 8.70% during the forecast period (2021 - 2028), The market was valued at USD 17.23 billion in 2021.
Diesel genset are used in converting mechanical energy to electrical energy. The need for uninterrupted power supply and frequent power outages in developing economies can provide a large scope of expansion for the market.
The COVID-19 pandemic has created the need for uninterrupted power supply for alleviating the burden on healthcare workers. Governments globally are investing in diesel powered generators for uninterrupted power supply and ramping up staff members for stemming the economic impact. Power demands in urban hospitals and rural clinics can drive the demand for diesel gensets.
High Costs of Diesel to Restrain Market Growth
The high costs of diesel are expected to restrain market growth owing to sustainability goals of companies. The fuel costs of diesel that comprise the operational budgets of small clinics and hospitals can lead to its declining demand in the coming years. Optimal solutions for backup power can lead to procurement of hybrid solutions that include diesel run engines.
Cumulative Growth Analysis
By Power Rating
Global Diesel Genset Market is comprised of small and large players. The need to cater to the demand for reliable power infrastructure and uninterrupted power can drive the market strategies of major manufacturers and producers. The fast-growing industries and the requirement for sustaining production lines can drive the market demand in the forthcoming years.
Global Diesel Genset Market report has been conceived by Market Research Future (MRFR) with the help of thorough primary and secondary research. The research has been summarized in a comprehensive manner and split into market dynamics, segments, regional analysis, and domestic and international competition. It is segmented in the following manner:
By Power Rating
|Market Size||2028: USD 30.81 billion|
|CAGR||8.70% CAGR (2021-2028)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Probability, Power Rating, Application and End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Kirloskar Electric Company (India), Atlas Copco AB (Sweden), Mitsubishi Heavy Industries Ltd (Japan), Sutton Power Engineering (U.K.), Rolls-Royce plc (U.K.), General Electric (U.S.), Kohler Co. (U.S.), Denyo Co. Ltd (Japan), JS Power (U.K.), Generac Power Systems Inc. (U.S.), Ashok Leyland (India), Cummins Inc. (U.S.), Caterpillar (U.S.), Wärtsilä (Finland), Yanmar Co Ltd (Japan)|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||Need for uninterrupted power supply and frequent power outages in developing economies|
Frequently Asked Questions (FAQ) :
The factors driving the diesel genset market are the mounting demand for uninterrupted and reliable power supply and the escalating number of power outages.
The market is segmented among the segments of power output, probability, end-use, and application.
Europe, North America, the Middle East & Africa, Asia-Pacific, and South America are important regions in gaining massive market share.
Rolls-Royce plc, Kirloskar Electric Company, Yanmar Co Ltd, Atlas Copco AB, JS Power, Generac Power Systems, Inc. are gaining popularity which high market share.
Asia-Pacific is estimated to hold a preponderance of the market share in the future.