India, Pune, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The Global Diesel Generator Market was valued at USD 16.89 billion in the year 2021 and is forecast to grow from USD 17.92 billion in 2022 to USD 26.09 billion by the end of the year 2029, and the market is estimated to exhibit a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period 2022-2029. The diesel generator industry is a sector that designs, manufactures, and sells diesel-powered generators.
These generators are used as backup power sources or in remote locations where access to the electrical grid is limited or unreliable. They can be used in a variety of applications, including residential, commercial, industrial, and military. The industry is highly competitive, with a large number of manufacturers and suppliers operating in different regions around the world.
Diesel generators have grown in popularity in the industrial and residential sectors as a result of this need. The diesel generator (DG) is a long-established way of generating energy from fossil fuels to meet emergency power needs. The product is extensively used to convert chemical energy into electric energy utilizing various equipment such as a control panel, AC alternator, radiator, engine, fuel tank, and others.
Hospitals, houses, schools, factories, construction sites, and other verticals routinely use DG systems as a primary or backup power supply in the event of a grid outage. Request a Sample Copy of the Research Report: URL Report Highlights: Report Coverage Details Forecast Period 2021-2029 Forecast Period 2021 to 2029 CAGR 5.5% 2029 Value Projection USD 26.09 billion Base Year 2021 Market Size in 2022 USD 17.92 billion Historical Data for 2018-2020 No. of Pages 257 Segments covered Fuel Type, By End-User, Application and Region Growth Drivers Significant Expansions in Oil & Gas Sector to Augment Market Growth The Middle East & Africa to Witness Significant Growth Industry Developments- July 2021: Qulliq Energy Corp.
has accelerated the replacement of community diesel gensets that have outlived their useful lives, thanks to the recent decommissioning of Grise Fiord's aged diesel plant. The new diesel gensets have improved the community's power supply reliability. Drivers & Restraints- Significant Expansions in Oil & Gas Sector to Augment Market Growth Oil and gas consumption has skyrocketed because of its rising usage across several business sectors.
Additionally, when new big hydrocarbon deposits are discovered and offshore wells are drilled, demand for diesel generator sets is expected to rise. Power outages and grid reliability - Power outages and grid reliability issues can lead to a need for backup power solutions. Diesel generators are a reliable source of backup power, and as a result, their demand increases during power outages or grid reliability issues. Remote and off-grid locations - Diesel generators are often used in remote and off-grid locations where access to the electrical grid is limited or unreliable.
As a result, the growth of industries in remote locations, such as mining and oil and gas, can drive demand for diesel generators. However, Leading government entities in a number of nations have implemented various policies and aim to encourage the adoption of green technologies and reduce reliance on fossil fuels that may impede the diesel generator market growth. Stringent emissions regulations - Diesel generators are a significant source of air pollution, and as a result, governments around the world are implementing stricter emissions regulations. These regulations can make it more difficult and expensive for manufacturers to produce diesel generators, and for customers to operate them, which can slow down the growth of the diesel generator industry.
Government subsidies for renewable energy can make it more cost-effective for customers to switch to alternative energy sources, reducing demand for diesel generators. COVID-19 Impact- The outbreak of the coronavirus has noticeably weakened industrial processes across the globe. The number of infected patients witnessed a constant rise driving different nations to implement national lockdowns and social distancing.
Consequently, the closure of industries significantly affected the market due to this global pandemic. Decreased demand - The pandemic has led to decreased demand for diesel generators as a result of the economic downturn and decreased construction and industrial activity. This has had a negative impact on the industry.
Supply chain disruptions - The pandemic has led to disruptions in the global supply chain, making it difficult for manufacturers and suppliers to acquire the raw materials and components needed to produce diesel generators. This has led to delays and increased costs, which has further impacted the industry. COVID-19 pandemic has had a negative impact on the diesel generator industry, with decreased demand and supply chain disruptions leading to decreased sales and revenue.
However, it has also led to an increase in demand for backup power solutions and changes in the way generators are used. To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: URL Segmentation- On the basis of power rating, the market is divided into below 75 kVA, 75-375 kVA, 375-750 kVA, and above 750 kVA. On the basis of portability, the market is bifurcated into portable and stationary.
On the basis of application, the market is segmented into the continuous load, peak load and standby load. On the basis of end-user, the market is fragmented into mining, oil & gas, construction, residential, marine, manufacturing, pharmaceuticals, commercial, telecom, electric utility, data centers, and others. Geographically, the market is classified into North America, Asia Pacific, Europe, Latin America, the Middle East & Africa.
On the basis of power rating, the market is fragmented into above 750 kVA, 375-750 kVA, 75-375 kVA, and below 75 kVA. On the basis of portability, the market is bifurcated into portable and stationary. On the basis of application, the market is trifurcated into standby load, peak load, and continuous load.
On the basis of end-user, the market is segmented into utility, telecom, commercial, pharmaceuticals, manufacturing, residential, construction, marine, oil & gas, mining, and others.Geographically, the market is classified into Latin America, the Middle East & Africa, Europe, Asia Pacific, and North America. Report Coverage- The study provides a thorough analysis of the global diesel generator market, including useful insights, statistics, industry-related data, and historical data. To arrive at meaningful assumptions and viewpoints, a variety of procedures and approaches are used.
In addition, the research report provides deep analysis and information for each market sector, allowing our readers to obtain a complete picture of the global industry. Quick Buy - Diesel Generator Market Research Report: URL Regional Insights- The Middle East & Africa to Witness Significant Growth The diesel generator market share in the Middle East & Africa is expected to grow significantly due to the abundance of natural resources and the need for inexpensive capital to discover bulk deposits. Additionally, rising investment to modernize commercial, residential, and industrial infrastructures, as well as developing manufacturing capabilities, would add to the region's market growth.
The North American diesel genset market is projected to benefit from favorable government policies to ensure energy security, as well as growing manufacturing capabilities. Long-standing DG set makers, as well as considerable increases in investments across several end-user sectors such as construction, pharmaceuticals, oil & gas, mining, and many others, are expected to add to the regional outlook. Latin America and Europe are anticipated to see continuous growth because of the enormous industrialization in the regions, Competitive Landscape- Cummins is one of the leading manufacturers of diesel generators in the world, with a strong presence in North America and Europe.
The company offers a wide range of diesel generators for various applications, including standby, prime power, and rental power. Generac is a leading manufacturer of diesel generators in the United States, with a strong presence in the residential and commercial markets. The company offers a wide range of diesel generators for various applications, including backup power, emergency power, and portable power.
Caterpillar is a leading manufacturer of diesel generators in the world, with a strong presence in the industrial and commercial markets. The company offers a wide range of diesel generators for various applications, including standby power, prime power, and rental power. Atlas Copco is a leading manufacturer of diesel generators in Europe, with a strong presence in the construction and industrial markets.
The company offers a wide range of diesel generators for various applications, including backup power, emergency power, and portable power. Kohler is a leading manufacturer of diesel generators in the United States, with a strong presence in the residential and commercial markets. The company offers a wide range of diesel generators for various applications, including backup power, emergency power, and portable power.
FG Wilson is one of the leading manufacturers of diesel generators in Europe, Asia, Africa, and Middle East. The company offers a wide range of diesel generators for various applications, including standby power, prime power, and rental power. The Market is Fragmented with Several Players in the Market The market for diesel generators is highly fragmented, with multiple regional, global, and country players.
To shape the competitive landscape, key businesses are taking significant steps such as forming agreements with other companies to expand their product reach and geographical presence. Atlas Copco AB is a market leader that is always concentrating on various organic and inorganic expansions in order to strengthen its operational footprint in various locations. For example, in May 2020, the firm announced its intention to join with Energia MTC of Saudi Arabia to deliver its QAS diesel gensets.
Atlas Copco also intends to promote its portable QAS product line across the Middle East and North Africa (MENA) region, leveraging Energia's presence. Have Any Query? Ask Our Experts: URL List of Key Market Players: Caterpillar Inc. (U.S.) Aggreko (U.K.)Cummins Inc.
(U.S.)Himoinsa (Spain)John Deere (U.S.)Kohler-SDMO (France)PRAMAC (Italy)Kirloskar Electric Co. Ltd. (India)Generac Power Systems (U.S.)FG Wilson (U.K.)Atlas Copco (Sweden)American Honda Motor Company, Inc.
(U.S.)Briggs & Straton (U.S.)Ingersoll Rand (U.S.)Yamaha Motor Co. Ltd. (Japan) Table of Content: 1. Introduction1.1. Research Scope1.2. Market Segmentation1.3. Research Methodology1.4. Definitions and Assumptions2. Executive Summary3. Market Dynamics3.1. Market Drivers3.2. Market Restraints3.3. Market Opportunities 4. Key Insights4.1. Key Emerging Trends – For Major Countries4.2. Latest Technological Advancement4.3. Regulatory Landscape4.4. Industry SWOT Analysis4.5. Porters Five Forces Analysis5. Qualitative Analysis – Impact of COVID-195.1. Impact of COVID-19 on the Diesel Generator Market5.2. Steps Taken by the Government to Overcome the Impact5.3. Key Developments by Industry Players in Response to COVID-195.4. Potential Opportunities and Challenges due to COVID-19 Outbreak Continued...
Get your Customized Research Report: URL About Us: Fortune Business LINK delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us: Fortune Business LINK Pvt. Ltd. Phone: U.S.: +1 424 253 0390 UK :+44 2071 939123 APAC :+91 744 740 1245 Email: EMAIL