Press release
What's driving the Diesel Genset Market Growth? Top Key Players Are Caterpillar Inc., Cummins Inc., Kohler Co., Escorts Limited, Siemens, Kirloskar Oil Engines Limited
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The diesel genset market is segmented on the basis of power rating and application. Based on power rating, the market is categorized into 5 kVA–75 kVA, 76 kVA–375 kVA, 376 kVA–750 kVA, and above 750 kVA diesel gensets. Among these, 5 kVA–75 kVA gensets accounted for the largest market share in terms of sales volume during the historical period, owing to the high demand for these gensets in application areas with low-power requirements. The demand is majorly generating by rising power outages and absence of proper power infrastructure in developing countries, driving the demand for 5 kVA–75 kVA diesel gensets in the market.
Further, on the basis of application, the diesel genset market is classified into commercial, industrial, and residential applications. Of these, the commercial sector held the largest share in the market, with more than 50% share in 2018. This can be ascribed to the heavy demand for high-power gensets in commercial buildings and data centers for both backup and prime power supply.
In 2018, commercial offices accounted for over 25% sales value in the commercial application of diesel fueled gensets. Globally, commercial office applications majorly include commercial buildings and data centers. In these commercial offices, data centers have a significant revenue contribution, owing to their requirement of high-capacity gensets.
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The advent of new technologies, such as edge computing, internet of things (IoT), cloud computing, and artificial intelligence, is driving the development of hyperscale data centers, which are equipped with thousands of servers and therefore, require uninterrupted electricity supply for smooth operations. This need for reliable electricity supply in data centers is expected to drive the diesel genset sales, further boosting the diesel genset market growth during the forecast period.
Some of the major players operating in the global diesel genset market are Caterpillar Inc., Cummins Inc., Generac Holdings Inc., Kohler Co., General Electric Company, Denyo Co. Ltd., AB Volvo, Escorts Limited, Siemens AG, and Kirloskar Oil Engines Limited.
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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