Global Diesel Generator Market 2020 Industry research report provides an In-Depth analysis that includes an executive summary, definition, and scope of the market.
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).
Primary Drivers and Top Barriers
Mounting need for uninterrupted power supply coupled
with the surge in power outages is stimulating the growth of the diesel
generator market. Given the benefits such as low use of fuel, high safety level
compared to gasoline-powered generators, and supreme reliability, diesel
generators are being extensively used in a variety of industrial applications.
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
growth 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.
Browse Complete Research Report at: https://www.marketresearchfuture.com/reports/diesel-generator-market-3001
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