Market
Insight
According
to Market Research Future, South
America & Africa Diesel Generator Market is anticipated to expand
with the CAGR of approximately 9.38% during the forecast period as it is marked
with overall dependency of the energy consumers in South America & Africa
for uninterrupted & reliable power through diesel generators.
South
America & Africa Diesel Generator Market Drivers & Trends
The
diesel generators in South America & Africa provide standby, prime &
continuous power output, where the end user is facing frequent power outages.
Thus, such need of emergency power backup is thriving the market to explore
wisely with time and earn maximum valuation of the coming years. Diesel
generators for South America & Africa regions are further poised to nurture
at a substantial rate owing to growing urbanization & industrialization
that has resulted in demand for excess and uninterrupted electricity supply.
The diesel generators offer prime, standby and continuous power output to
residential, commercial & industrial sector which makes it a reliable
source of power generation in emergency situation and at remote location. These
factors are thus promoting the market to proliferate substantially over the
forecast period.
South
America & Africa regions have most of the countries that are in their
developing stage or are under-developed and are highly reliable on standby
power generation or non-conventional methods of power generation. All these
factors majorly result in power outage in these regions. Thus, most of the end
users are heading towards the utilization of diesel powered generator as it
provides continuous, prime and standby power to the end users such as
industries, hospitals, construction sites, remote & discrete sites,
commercial and residential. These factors are also contributing largely to the
market’s growth, which would also take to expand in the forecast period.
On
the other hand, the growing demand for diesel generators in African & South
American region is also due to the rise in power outages and high average price
of power produced through conventional power plants. These make the consumers
to opt for an interminable & dependable power supply as diesel generators
are more fuel efficient than other fuel type generators with longer life span.
All these major factors are driving the demand of diesel generators in South
America & Africa.
South
America & Africa Diesel Generator Industry Segmentation
The
market for South America & Africa Diesel generator market globally has been
segmented into product type, material type, storage and application type.
By
the mode of product type, the global market has been segmented into redox and
hybrid.
By
the mode of material type, the global market includes vanadium and
zinc-bromine.
By
the mode of storage type, the global market includes compact and large scale.
By
the mode of application, the global market includes industrial &
commercial, defense, utilities, and others.
Regional
Outlook
Regionally,
the South America & Africa Diesel Generator Market is growing tremendously
in the prime regions of North America, Europe, APAC region and the Middle East &
Africa.
As
per the study, Colombia is hugely investing in developing hybrid renewable
energy system to fulfill the rising demand for electricity. According to World
Bank, the national electrification rate of Columbia in 2016 was 98% with about
90% rural electrification rate. Also industrial sector contributed 34.00% of
the total GDP. The existing scenario in the states of Colombia is the upward
demand for electricity, which can be fulfilled through hybrid renewable energy
systems.
On
the other hand, Nigeria is one of the biggest economies in Africa that had a
GDP of 405,082.7 million USD, in 2016. Nigeria’s growth is severely restrained
by an inadequate supply of reliable electricity. According to World Bank, the
national electrification rate of Nigeria in 2016 was 45% with 36% rural
electrification rate. Also industrial sector contributed 19.4% of the total
GDP. But now, Nigeria is receiving heavy aid & investment for the
development of hybrid renewable energy systems and micro-grids. It is now forecast
that diesel generator market in Nigeria will observe an extensive growth in
forecast period.
Key
Players
The
well-known players of South America & Africa diesel generator market are
listed as Caterpillar Inc., Cummins Inc., Generac Holdings Inc., Mitsubishi Heavy
Industries Engine & Turbocharger, Ltd., AKSA Power Generation, Kohler Co.,
Rolls-Royce Power Systems AG, Wuxi Kipor Power Co. Ltd, Aggreko PLC, MAN Diesel
& Turbo, General Electric Company and Wärtsilä.
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