Press release
Diesel Generators Market is set to garner staggering revenues by 2024 - 2031 | AKSA Power Generation Company, Atlas Copco AB
Diesel Generators Market
The diesel generators market is estimated to be valued at USD 20.02 Bn in 2024 and is expected to reach USD 29.51 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.
Market Dynamics:
The diesel generators market is expected to witness significant growth over the forecast period owing to rising construction activities globally. According to the Global Construction Outlook by IHS Markit, the overall construction industry output is estimated to grow by 85% in real terms during 2022-2031 as Asia and Europe continue to drive global construction market. This rapid growth in construction industry especially in developing countries of Asia is creating strong demand for diesel generators to ensure uninterrupted power supply at project sites and infrastructure locations. Additionally, frequent power outages in regions like Africa and Asia Pacific have increased deployment of diesel generator sets as backup power source across industrial and commercial facilities which is further propelling the market growth.
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Major Market Drivers for the Diesel Generators Market
Demand for Uninterrupted and Reliable Power Supply
Diesel generators are experiencing high demand as many industries, commercial complexes, institutions, homes and other establishments are increasingly relying on backup power and continuous supply. Power outages and fluctuations are common in many countries which has fueled the need for reliable power sources like diesel generators that can kick into action during power failures or provide off-grid power. The growing infrastructure development activities also require robust power solutions for construction sites and other temporary usage, benefitting the diesel generators market.
Major Market Opportunity for the Diesel Generators Market
Integration of Hybrid Technologies
The diesel generators market has an opportunity to maximize its sales potential through research and development of innovative hybrid power generator sets. Hybrid generators that combine the working of diesel and other renewable sources like solar and wind can provide clean backup solutions. They reduce dependency on only diesel thereby lowering the operating costs as well as emissions. Manufacturers investing in hybrid systems integrating energy storage can gain an edge in the lucrative military, industrial, agricultural and off-grid power segments.
Major Market Trends in the Diesel Generators Market
Adoption of Smart Control and Monitoring Technologies
The market is witnessing the trend where diesel generator OEMs are focusing on advanced digitization to enhance their product portfolios. Technologies like remote monitoring software, automatic start-stop mechanisms, load shedding features and IoT integration allow remote access, control and management of generators. This improves efficiency, reduces downtime and maintenance costs. Cloud-based monitoring of performance metrics is aiding predictive maintenance and optimization of power supply. The trend highlights the efforts to provide smarter, convenient and reliable power backup solutions.
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Top Companies Featured in This Report:
★ AKSA Power Generation Company
★ Atlas Copco AB
★ Caterpillar
★ Cummins Inc.
★ Doosan Portable Power
★ Generac Power System Inc.
★ Honda India Power Products Ltd.
★ Kohler Co.
★ Rolls-Royce plc
★ Wartsila Corporation
★ Honda India Power Products Ltd.
★ Yamaha Motor Co Ltd.
★ Mitsubishi Heavy Industries Ltd.
★ Mahindra & Mahindra Ltd.
★ Kirloskar Oil Engines Ltd.
Market Segmentation:
By Product Type:
★ By Power Rating: 0-100 Kva, 100 - 250 Kva, 350 - 1,000 Kva, and 1,000 Kva
★ By End-User: Industrial, Commercial, and Residential
By Applications:
★ By Application: Standby Power, Peak Shaving, and Prime or Continuous Power
Key Regions/Countries are Classified as Follows:
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
South America (Brazil, Argentina, Rest of SA)
Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Reasons to Obtain Our Comprehensive Market Report:
• Conduct an extensive analysis of various aspects of the Diesel Generators Market utilizing Porter's Five Forces framework.
• Gain insights into the growth rate and market shares of different product types and applications/end-users within the Diesel Generators Market.
• Explore the Diesel Generators Market dynamics across different regions through comprehensive regional analysis.
• Assess the impact of Covid-19 on the Diesel Generators Market with a meticulous research approach.
• Stay updated on the latest developments, market shares, and strategies of key market players within the Diesel Generators Market.
• Delve into a thorough evaluation of the market strategies, geographical presence, and business segments of the top players in the Diesel Generators Market.
• Anticipate key challenges, product advancements, and solutions that may influence the market's progression and threats.
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Key Questions Answered:
• What was the size of the Diesel Generators Market in 2021, and what will it be worth by 2030?
• What is the current global scenario for the Diesel Generators Market?
• What are the optimal business strategies for maximizing growth potential?
• What are the recent trends in the Diesel Generators Market?
• What is the market share in terms of revenue, sales, and size in specific geographical regions?
• Who are the key industry players in the Diesel Generators Market?
• Which segments of the Diesel Generators Market are in high demand?
Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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About Us
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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