Press release
Top Market Shifts Transforming the Diesel Generator Market Landscape: Key Insights
Diesel Generator
What Will the Diesel Generator Industry Market Size Be by 2025?
The size of the diesel generator market has seen robust expansion in recent years. Its growth will elevate from $20.52 billion in 2024 to $21.82 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.3%. Factors contributing to the growth observed in the historic period include robust economic progress in developing markets, swift industrialization, booming energy demand and consumption, and increased emphasis on power generation through fossil fuel energy sources.
What's the Long-Term Growth Forecast for the Diesel Generator Market Size Through 2029?
Anticipated robust growth is on the horizon for the diesel generator market in the coming years. The market is projected to expand to $28.28 billion by 2029, with a compound annual growth rate (CAGR) of 6.7%. This predicted surge during the forecast period can be credited to factors such as the burgeoning construction industry, a robust expansion in the manufacturing sector, and the trend towards remote work. The forecast period will also see key trends, including enhancing the productivity of diesel generators, the rise of generator rentals, the hybridization process of diesel generators, invention of portable and compact solutions, along with the amalgamation of avant-garde technologies such as remote monitoring, anticipatory maintenance, and data analytics.
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What Are the Key Growth Drivers Fueling the Diesel Generator Market Expansion?
The surge in the construction sector is anticipated to significantly fuel the growth of the diesel generator market in the projected period. With the burgeoning of construction works, dependable power solutions are crucial to ensure consistency in various developmental stages. Diesel generators play a pivotal role in providing vital backup power solutions, thus guaranteeing smooth operations in construction locations where the grid power might be unreliable or inaccessible. For instance, the U.S. Census Bureau, a main agency of the United States Federal Statistical System, reported in August 2023 that construction expenditure reached $1,938.4 billion in June 2023. This figure represents a 3.5% increase from the $1,873.2 billion projected expenditure in June 2022. Additionally, Oxford Economics, a company based in the UK that specializes in global economic forecasting and econometric analysis, estimated in March 2023 that the worldwide construction output will elevate from $9.7 trillion in 2022 to $13.9 trillion by 2037. Hence, the growing construction sector will be a significant factor in propelling the diesel generator market's growth in the future.
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What Are the Key Trends Driving Diesel Generator Market Growth?
Major players in the diesel generator market, such as Trime, are striving to advance their market standing by offering state-of-the-art solutions, including ultra-quiet generators that are especially suited for noise-sensitive situations while still ensuring dependable power supply. For instance, Trime, a company based in Italy known for its innovative and eco-friendly lighting solutions, introduced a new series of diesel-powered generators in May 2024. These provide a power range between 6 kVA and 670 kVA and include sophisticated engines from Kohler Stage V, Yanmar, FPT Iveco, and Perkins. Built with the same high level of reliability and longevity as Trime's previous lighting tower products, these ultra-quiet generators are designed for the UK and Ireland hire markets and offer versatile single and three-phase outputs for various uses.
How Is the Diesel Generator Market Segmented?
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
Subsegments:
1) By Small Diesel Generator: Portable Diesel Generators, Residential Diesel Generators
2) By Medium Diesel Generator: Industrial Diesel Generators, Commercial Diesel Generators
3) By Large Diesel Generator: High-Capacity Diesel Generators, Standby Power Generators For Large Facilities
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Which Companies Are Leading the Charge in Diesel Generator Market Innovation?
Major companies operating in the diesel generator market include 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
Which Regions Are Leading the Global Diesel Generator Market in Revenue?
Asia-Pacific was the largest region in the diesel generator market in 2024. The regions covered in the diesel generator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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