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Diesel Generator Market Analysis With Key Players, Applications, Trends And Forecast To 2033
Diesel Generator Market Analysis
The Business Research Company presents an extensive market research report on the Diesel Generator Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The diesel generator market size has grown strongly in recent years. It will grow from $19.48 billion in 2023 to $20.87 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rapid industrialization, increase in energy demand and consumption, and rise in focus on electricity generation using fossil fuel energy sources.
The diesel generator market size is expected to see strong growth in the next few years. It will grow to $27.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to expanding construction industry, thriving growth of manufacturing industry, and remote work revolution. Major trends in the forecast period include improving the efficiency of diesel generators, developing rental generators, hybridization of diesel generators, designing compact and mobile solutions, and integration of advanced technologies such as remote monitoring, predictive maintenance, and data analytics.
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Key Market Players:
Major companies operating in the diesel generator market report are Mitsubishi Heavy Industries Ltd, Caterpillar Inc, Cummins Inc, Rolls-Royce Holdings plc, Generac Holdings Inc, Aggreko, Atlas Copco AB, Yanmar Co. Ltd., Wartsila Corporation, Doosan Portable Power, Wuxi Huayou Power Equipment Co. Ltd, GIANT Power OEM Co. Ltd, Detra (HK) International, Jiangsu Dohigh Generator Trading Co. Ltd, Shangyu Diesel Engine Co. Ltd, Yanmar Holdings Co. Ltd, Kubota Corporation, Honda India Power Products Limited, Enrogen, Excel Power Ltd, JS Power, German Generator GmbH, Fischer Panda GmbH, Energy XPRT, Andoria-Mot Ltd, Dfme Sp. Z O. O, Poland Generators Manufacturers, Kohler Co, Powerhouse Diesel Generators Inc, Smith's Diesel and Power Systems, BC Diesel Generators, GAL Power Systems, MWM Motors Diesel Inc, Tupy S.A, Soenergy Sistemas Int De Energia, Geraforte Grupos Geradores LTDA, Jubaili Bros, Ultimate Power Solution Fzc, AQT Generators, Ade Power, Algen Power Generation, Mikano International Limited
Market Drivers:
The expansion of the construction industry is expected to be a key driver of the growth of the diesel generator market in the forecast period. As construction projects expand, reliable power sources are essential to maintaining operations in various stages of development, and diesel generators serve as critical backup power solutions, ensuring uninterrupted operations in construction sites where grid power may be unreliable or unavailable. For instance, in August 2023, according to a report published by the U.S. Census Bureau, a primary agency of the United States Federal Statistical System, construction expenditure accounted for $1,938.4 billion in June 2023, indicating a 3.5% percent increase from the estimated expenditure of $1,873.2 billion in June 2022. Further, in March 2023, according to Oxford Economics, a UK-based provider of global economic forecasting and econometric analysis, the global construction output is estimated to grow from $9.7 trillion in 2022 to $13.9 trillion by 2037. Therefore, the expanding construction industry will drive the growth of the diesel generator market going forward.
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https://www.thebusinessresearchcompany.com/report/diesel-generator-global-market-report
The diesel generator market covered in this report is segmented -
1) By Type: Small Diesel Generator, Medium Diesel Generator, Large Diesel Generator
2) By End User: Industrial, Commercial, Residential
3) By Application: Standby Backup Power, Peak Shaving, Continuous Load
4) By Mobility: Stationery, Portable
5) By Power Rating: 75 kVA, 75-375 kVA, 375-750 kVA, Above 750 kVA
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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