Global Diesel Gensets Market Share Over 2021-2027 |Eminent players Atlas Copco, Ashok Leyland, C&S Electric

As per Global Market Insights, Inc. estimates, the global diesel gensets market size is expected to cross an annual installation of nearly 3 million units by 2027.

The global diesel gensets market size is anticipated to witness a major upsurge over the forthcoming years, as a result of the rising need for increased power generation capacities to meet the escalating energy usage across the globe. Industrial, commercial, and residential end-use sectors are in great need of a consistent and reliable power supply. Widespread adoption of the oil & gas exploration projects has also ensured easy fuel availability and in turn, created a positive affluence in market expansion.

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Diesel generator sets are capable of countering the break in the operational flow, thereby leading to the reduction of the total costs during downtime. Population growth, especially in developing countries, has also led to an increased demand for energy. Several global and local organizations, including the World Bank, are placing high emphasis on driving infrastructural developments. These aforementioned factors, coupled with a favorable investment scenario, will create a swell in the adoption of diesel generator components over the forecast spell.

In terms of segmentation by power rating, the 200-330 kVA segment is set to account for a significant share over the coming years, driven by the rapid infrastructural developments primarily in emerging countries due to the favorable investment scenario. For example, the 10 largest developers in 6 key ASEAN countries namely Vietnam, Thailand, Indonesia, the Philippines, Singapore, and Malaysia, as well as Hong Kong, registered a hike in their net building volume from $16 billion in 2013 to around $24 billion in 2018.

With regards to end use, the global diesel gensets market from the commercial segment will register considerable revenue in years to come, which is attributable to the mounting product demand from data centers, communication towers, and other commercial establishments. This high product adoption is due to the amplified data utilization through e-Commerce platforms and social networking, smartphones, and government projects.

The segmental growth will further be propelled by the increasing costs associated with data center outages and downtimes, along with the accelerating product deployment in outdoor recreational applications such as RV installations, camping trips, sudden blackouts, and backyard parties.

On the basis of application, the prime segment is poised to exhibit an appreciable growth rate over the foreseeable future, owing to the rising product applications across off-grid and remote locations with limited or zero access to electricity. According to the IEA Energy Access Outlook, 771 million people across the globe did not have basic access to power in 2019, out of which 75% of the population belongs to the sub-Saharan region in Africa. Robust demand for power from these underdeveloped regions will drive the overall diesel gensets market forecast.

Despite these favorable growth environments, the introduction of strict emission control norms and regulations to encourage the utilization of clean fuels may create roadblocks to the steady industry expansion over the estimated timeframe. For instance, in October 2020, Indraprastha Gas Ltd revealed its plans to assist housing societies and commercial establishments in replacing diesel used in generators with environment-friendly natural gas, following the ban in the usage of diesel generators in Delhi and other neighboring cities.

However, myriad benefits of DG sets such as low volatility rates and high capacity and durability, alongside the growing private and public investments to surge innovation, will enhance product demand worldwide.

From a regional perspective, the UK, Russia, and Germany accounted for nearly 40% of the Europe diesel gensets market share in 2020. The industry in Germany is set to gain considerable momentum, which can be credited to the strong focus of the government in ensuring cost reduction, energy efficiency, and environmental compliances.

Key diesel gensets market participants include Atlas Copco, Kohler, Cummins, Generac, Caterpillar, and Kirloskar Oil Engines, among others. These companies are implementing various strategies like M&A, innovative product launches, and business expansions to increase their share in the global market. To illustrate, in June 2018, Mahindra Powerol extended its higher kVA diesel generator range via the launch of the 400/500/625 kVA diesel generator, powered by the Perkins® 2000 series engines and equipped with the cutting-edge DiGi-SENSE technology.

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