Diesel Generator Market Overview
The global diesel generator
market has the potential to achieve a growth rate of 5.39% CAGR during the
forecast period (2017-2025), believes Market Research Future (MRFR). Diesel
generators are considered as the most popular type of power backup solution and
form close to 80% of the worldwide generators market. Energy demand in emerging
nations is on the rise, in conjunction with the infrastructural growth as well
as economic development. Meanwhile, in developed nations, the improving
lifestyle will accelerate the demand for electricity utilities, which are not
enough to cater to the rising power demand. Therefore, to satisfy this massive
electricity demand, large investments will be required in huge power projects,
which is not feasible for end-users and the government since such projects need
huge capital investment and long construction times. This factor is expected to
boost the demand for diesel generators market in the forthcoming years.
Furthermore, the global Diesel
Generator Market Size is highly dependent on the surging commercial and
residential activities. Power shortfall, unstable power supplies, mature
technology, ready fuel availability and low capital cost of a diesel generator
also work in favor of the market. Apart from this, diesel generators act as a
backup for the hotel industry, manufacturing industry, hospitals, and others,
offering continuous power supply during severe natural calamities, etc. Frequent
power cuts arising from natural disasters like severe weather events are
plaguing different industries, which bolsters market growth across the globe.
Global Diesel Generator Market
Segmentation
The worldwide Diesel
Generator Market has been studied considering the segments like power
rating, portability, and end-use.
With respect to the power
rating, the market can be split into 375 KVA–1000 KVA and above 1000 KVA.
Portability-wise, the
global diesel generator market caters to stationary and portable.
The end-users in the global
diesel generator market are commercial, agriculture and industrial.
Regional Outlook
The diesel generator market
has been regional segmented into Europe, North America, Middle East &
Africa (MEA), South America and Asia Pacific (APAC).
APAC is at the peak of the
global diesel generator market, thanks to the soaring demand for uninterrupted
power supply as well as the high number of oil & gas activities. China is
one of the most profitable markets for diesel generator in the region, with a
strong demand and implementation of diesel generators. The BP Statistical
Review of World Energy revealed in 2019 that the total oil production in China
was 3798 thousand barrels per day the previous year, which was the highest in
the region. These statistics are indicative of the mounting demand for diesel
generators brought on by the need for continuous power supply during oil
production. Also, augmented demand for constant power supply in construction
activities in India also benefits the market.
Numerous countries in South
America are either developing or are underdeveloped. Almost all the countries
in the region reply on the standby power generation or traditional methods of
generation. This holds true since the power generation via conventional methods
is quite steep and leads to smaller outputs, which does not cater to the high
demand. These factors are being considered by the end-users while giving
efforts to cater to the rising power demand, which stimulates the demand for
diesel generators in the region.
In North America, the
demand for electricity has increased exponentially, thanks to high
industrialization along with elevated per capita electric power consumption.
The strong growth in infrastructure, industry, the information technology and
telecommunication sector will also trigger the demand for diesel generators
during the review period.
Prominent Vendors
Prominent companies
influencing the growth of the global diesel generator market include Cummins
Inc (US), Greaves Cotton Limited (India), Rolls-Royce plc (UK), Denyo Co Ltd
(Japan), Wärtsilä (Finland), Caterpillar (US), Ashok Leyland (India), Kirloskar
Electric Company (India), Mitsubishi Heavy Industries Ltd (Japan), to mention a
few.
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