United States Diesel Genset Market Size, Latest Trends, Development and Future Growth Study 2022-2030

By 2030, the U.S. diesel genset market will reach $3,132.4 million, from $2,175.6 million in 2021. The market is projected to grow at a 4.1% CAGR during 2021-2030, owing to the increasing instance of power outages and the rising need for reliable and uninterrupted power supply. Moreover, there is a surging need for power backup sources, ascribed to the skyrocketing development of residential homes, hotels, and corporate offices, which is boosting the demand for gensets.

The frequency of power outages in the country is increasing, owing to factors including overloading and aging power grids, and natural calamities. Prominent places that require a consistent and smooth power supply, include fire stations, data centers, telecom towers, nuclear power plants, and healthcare centers. The equipment and devices in these facilities can be affected by a power failure, which will lead to misfunctioning because of the lack of ability to handle load surges. Hence, the development in these application areas will drive the requirement for diesel gensets.

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Within the power requirement segment, the U.S. diesel genset market is bifurcated into backup power and prime power. In 2021, the backup power category accounted for higher revenue, of $1.9 billion. This is ascribed to the surging use of DGs in manufacturing facilities, retail establishments, hospitality units, healthcare facilities, commercial buildings, hotels, shops, and houses, as a backup power solution. Further, people in the country are continually installing powered generators to curb power outages because of natural calamities and old electricity grid infrastructure.

In 2021, the need for 150-199 kVA power rating gensets was the highest in the U.S. diesel genset industry, and this trend will be exhibited in the coming years as well, growing at a CAGR of approximately 4%. This can be attributed to the expanding commercial areas, such as retail outlets, commercial offices, and telecom towers, and the increasing number of residential societies, which utilize 150-199 kVA DGs for their power requirement.

Segmented on mobility, the U.S. diesel genset market is bifurcated into the portable and stationary categories. A larger value share was held by the stationary category in 2021, and this trend will also continue in the coming years. This is credited to the use of gensets as an important power generation source in hospitality facilities, transportation structures, transmission centers, product distribution centers, oil & gas refining units, manufacturing plants, data centers, commercial buildings, and housing societies.

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The use of data in the U.S. diesel genset market is expanding as hyper-scale cloud providers and business organizations attempt to reap profits from local and worldwide data demand. With the gradual acceptance and swift expansion of technologies in the U.S., there is a dire need for extra storage space. This is predicted to create a snowballing demand for data centers in the future. Additionally, data centers create a high requirement for reliable power sources and need a consistent power supply, which, in turn, drives the requirement for diesel gensets.

Hence, the surging demand for reliable and uninterrupted power supply and the increasing instances of power outages will provide lucrative opportunities for market players to gain a competitive edge.

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