Diesel Generator Market is Rapidly Growing to Surpass $37.1 billion by 2027
Continuous population growth, rapid industrialization, and infrastructure development are among the significant factors influencing electricity demand globally. Growing usage of electronically operated equipment has resulted in increasing demand for generators in order to prevent sudden stoppage of electricity supply during power outages and disruption of daily business activities. The diesel generator, a combination of diesel engine with electrical generator, is a reliable power supply device. It is used for generating electricity to provide continuous power supply during power interruptions.
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Significant development of the end-use industries such as oil & gas, telecom, mining, and healthcare is fueling the growth of the diesel generator market. In addition, increase in demand for diesel generator as a source of backup power from developing economies is driving the growth of the market, globally. However, implementation of stringent government regulations toward environmental pollution from diesel generators and rapid development of the renewable energy sector are the key factors hampering the growth of the global market in the upcoming years.
Depending on the type, large diesel generator segment held the highest market share of about 57.05% in 2019, and is expected to maintain its dominance during the forecast period. This is owing to increase in demand from large-scale industries such as mining, healthcare, commercial, manufacturing, and data centers.
On the basis of application, peak shaving segment holds the largest share, in terms of revenue, and is expected to grow at a CAGR of 9.7%. This is owing to the increase in maximum power demand during highly dense populated area and from manufacturing operations (when production rate is high).
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On the basis of the region, the market is analyzed across four major regions such as North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered the dominant share in 2019, and anticipated to maintain this trend during the forecast period. This is attributed to numerous factors such as presence of huge consumer base and the existence of key players in the region. Moreover, presence of the developing countries such as China, Japan, Australia, and India is anticipated to contribute toward the growth of the diesel generator market in Asia-Pacific.
The following are the regions covered in this report.
• North America [U.S., Canada, Mexico]
• Europe [Germany, UK, France, Italy, Rest of Europe]
• Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
• South America [Brazil, Argentina, Rest of Latin America]
• Middle East & Africa [GCC, North Africa, South Africa, Rest of Middle East and Africa]
The global diesel generator market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the report include
• Caterpillar, Inc.
• Cummins, Inc.
• Rolls Royce Plc.
• Kohler Co.
• Generac Power Systems, Inc.
• Southwest Products
• Atlas Copco AB
• FG Wilson
• Denyo Co., Ltd.
• Kirloskar Electric Company
This report projects the trends and opportunities of the global generator market. This research study includes a qualitative & quantitative analysis with comprehensive research methodologies and reliable projections to understand the present overview and predict the market behavior during the forecast period.
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