Diesel Generator Market Size to Reach USD 30.89 Billion by 2030, Growing at a CAGR of 8.70%
The global diesel generator market is expected to grow from USD 17.23 billion in 2022 to USD 30.89 billion in 2030 at a CAGR of 8.70% in the 2022-2030 period. This growth is attributed to factors such as:
·
Increasing demand for uninterrupted and
reliable power supply from commercial and industrial sectors, especially in
developing regions.
·
Rising investments in infrastructure
development and rapid industrialization, which is fueling the demand for power.
·
Growing demand for diesel generators as backup
power sources in data centers, healthcare facilities, and other critical
infrastructure.
A
device that converts chemical energy into electrical energy with the help of
devices such as an electric generator and a diesel engine is known as a diesel
generator. It can function for many hours or weeks or till the power grid is
recovered.
The
diesel generator has an efficiency of between 30% and 50% and is a mixture of
diesel engine and alternator efficiencies. The main benefits of diesel
generators are prolonged durability, high efficiency, economic nature than
other generators, and quick start-up time. Anyways, the use of diesel
generators leads to environmental pollution, which requires operating costs and
high maintenance.
The
growth of the diesel generator market is
driven by rapid industrialization & urbanization and a rise in demand for
continuous & stable power supply in the developing economies. The main
factors hindering the market's growth are the implementation of strict
government guidelines toward greenhouse gas emissions from diesel generators
and the fast development of the renewable energy sector.
The
increasing technological advancements in diesel generators and the rise in
demand for energy from several end-use industries are predicted to provide profitable
growth opportunities for the main players to maintain their position in the
forthcoming years. The pandemic covid-19 has formed the need for a power supply
without interruption to relieve the burden on healthcare workers. Governments
worldwide invest in diesel-powered generators for continuous power supply and
boost staff members to restrict the economic impact. The demand for power in
urban hospitals and rural clinics can operate the demand for diesel generators.
Solution
providers all over the market are mainly responsible for generator system
manufacturing, maintenance, installation, and repair. Generator dealers or
electrical contractors set up maintenance contracts and product supply with the
end-market consumers present across commercial places, residential places, and
small-size companies using generators for emergency power backup systems. The
companies allocate an in-house monitoring engineer to oversee numerous
generators in industrial-scale operations.
Key
Players:
·
Kirloskar Electric Company (India)
·
Denyo Co Ltd (Japan)
·
Greaves Cotton Limited (India)
·
Ashok Leyland (India)
·
Mitsubishi Heavy Industries Ltd (Japan)
·
Rolls-Royce plc (UK)
·
WÃrtsilà (Finland)
·
Caterpillar (US)
·
Cummins Inc (US)
The segmentation of the market and the regional
analysis of the diesel generator market.
The
diesel generator market across the
world is divided into type, mobility, cooling system, application, end-use
industry, and Region. On the basis of type, the market is divided into small,
medium, and high. Based on mobility, it is divided into stationary and
portable. Based on the cooling system, it is categorized into air-cooled and
liquid-cooled. Based on the application, it is divided into standby backup
power and peak shaving. The market is divided into residential, commercial, and
industrial based on the end-use industry. By Region, the market is divided
across North America, Europe, Asia-Pacific, and LAMEA.
In
2019 Asia-Pacific had the highest share in the market on the basis of revenue,
and it is predicted to maintain its dominance throughout the estimated period.
This is considered to be the presence of the main players and a large consumer
base in the Region. The Diesel
gensets market
size is gaining importance in the fields such as
construction, healthcare, and IT industries, due to its reliability and
superior fuel efficiency, which are anticipated to strengthen the growth of the
market during the prediction period.
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