Press release
Diesel Generators Market Trends and Future Opportunities Report 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diesel generators market is expected to grow owing to increasing power outages especially in emerging economies due to outdated transmission infrastructure, growing demand for uninterrupted power supply. Emerging nations in Asia Pacific and Middle East & Africa are experiencing frequent power disruptions due to rapid urbanization and aging grid infrastructure. Additionally, growing construction activities along with increasing installation of innovative power backup systems in industrial and commercial buildings are further fueling the demand for diesel generators in these regions. The market is also driven by stringent government policies mandating installation of backup power solutions in telecom towers and data centers to ensure business continuity during power outages.
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Two Key Market Drivers for Diesel Generators Market Growth between 2024-2031
Increasing Power Outages and Grid Instability Drive Demand for Reliable Backup Power Solutions
The global diesel generators market has been witnessing steady growth on account of the rising incidences of power outages across both developed and developing regions. Power outages are caused due to factors such as grid failures, excessive load shedding, damaged infrastructure, and natural calamities. According to the World Bank, power outages cost businesses in developing countries approximately $130 billion annually. With critical infrastructure and industrial operations highly dependent on continuous power supply, the demand for reliable backup power solutions like diesel generators has consistently increased over the years. As power grids continue to face instability risks, especially in emerging nations, dependence on diesel generators as emergency power backup is projected to further rise going forward.
A Major Market Opportunity - Transition to Low-emission Gensets
Adoption of Natural Gas and Hybrid Technology Presents Lucrative Growth Prospects
To combat the challenge of rising emissions, diesel generator OEMs (original equipment manufacturers) and modulators are focusing their R&D efforts on developing greener and more eco-friendly solutions. Natural gas gensets that run on cheaper and more efficient compressed/liquefied natural gas (CNG/LNG) offer significantly lower emissions compared to conventional diesel variants. Hybrid diesel-battery generator systems that optimize fuel efficiency through battery energy storage also contribute less to air pollution. The market sees immense opportunities for such low-emission diesel generator technologies to pick up traction going forward, especially in regulated economies striving to curb carbon footprint. Modular upgrades can also help existing diesel genset owners transition to cleaner power solutions. This expanding product segment is expected to drive strong revenue growth in the global market between 2024-2031.
Emerging Trend Towards Remote Monitoring and Diagnostics
Advent of IoT Strengthens Remote Asset Management Capabilities
A major trend gaining prominence in the diesel generators industry is the integration of generators with the Internet of Things (IoT). IoT-enabled gensets can be remotely monitored and controlled over wireless networks or cloud platforms. Using smart sensor devices and software, owners can access real-time performance data of their generators anywhere, anytime. Remote diagnostics functionality helps detect faults or inefficiencies early on. Predictive maintenance alerts prevent unexpected breakdowns. Telematics further optimize fleet utilization of diesel gensets across multiple project sites. This emerging capability is making asset management more convenient and economical for owners. As connectivity and automation become a wider reality, the diesel generators market will increasingly adopt advanced IoT and Industry 4.0 based solutions to enhance operational efficiency, reliability and uptime of
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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 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)
Key Inquiries Addressed in this Report include:
📈 What was the size of the Diesel Generators Market in 2024, and what is the projected value by 2031?
📈 What is the present global market landscape for the Diesel Generators Market?
📈 What strategies offer optimal opportunities for growth maximization in the business?
📈 What recent trends are shaping the Diesel Generators Market?
📈 How does the market share of Diesel Generators Market revenue, sales, and size vary across specific geographical regions?
📈 Who are the prominent industry players in the Diesel Generators Market?
📈 Which segment of the Diesel Generators Market is experiencing heightened demand?
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Diesel Generators sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
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