Data Center Construction To Propel Diesel Generator Set Market to $21,929.9 Million by 2030

For any mechanized process, energy is needed, and for all non-engine objects, the energy comes from electricity. Thus, with the world’s population set to reach 10.9 billion by 2100 from 7.7 billion in 2019, as per the World Population Prospects 2019 report of the United Nations (UN), the demand for electricity is going to keep burgeoning. There is only one problem, especially in developing countries: electricity production is already insufficient to meet the needs of the present population, and the demand–supply gap is only expected to widen. Similarly, in several developed countries, the power grid infrastructure is aging, thereby leading to substantial transmission losses.

Request for sample copy of this report: https://www.psmarketresearch.com/market-analysis/diesel-genset-market/report-sample

Therefore, with the rising demand for electricity and aging transmission infrastructure, the diesel generator set market is predicted to generate $21,929.9 million by 2030 compared to $13,773.0 million in 2019. According to P&S Intelligence, the value increase would be at a CAGR of 6.0% over the forecast period (2020–2030). This is because generators have long been the best way to produce electricity in places lacking a regular grid connection or those that witness frequent outages.

In this regard, the diesel genset market is also being driven by the increasing number of data centers. As per the World Bank, compared to less than 1% in 1990, almost 49% of the world’s people had internet access in 2017. This, along with the rising adoption of the internet of things (IoT), smartphones, intelligent personal assistants, and connected and autonomous vehicles, the volume of data being generated and consumed is increasing. With this, data centers are being constructed, where uninterrupted power supply is indispensable to keep the systems running without malfunctioning.

Browse full report at: https://www.psmarketresearch.com/market-analysis/diesel-genset-market

During 2014–2019 (historical period), Asia-Pacific (APAC) held the largest share in the diesel genset market, in terms of both value and volume. This is attributed to the expanding telecommunications infrastructure, growing industrial production, and increasing requirement for power backup in houses and large residential pockets. Initiatives including Make in India, Making Indonesia 4.0, and Made in China 2025 are driving the construction of factories, thus driving the demand for diesel generators during and after the development process.

Hence, genset sales will continue being high with the rising population and power transmission uncertainties in developing and developed countries both.

Contact:
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

About P&S Intelligence

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.

This release was published on openPR.