Market Spotlight Diesel Generator Industry Trends and Future Outlook in South America and Africa
Market Analysis
Market Research Future (MRFR)
presumes South
America & Africa Diesel Generator Market to grow with the CAGR of
approximately 9.38% from 2023 to 2030 (forecast period).
South America & Africa Diesel
Generator Market is characterized by the overall reliance of energy consumers
in South America & Africa on uninterrupted and reliable power through
diesel generators. Where the end-user is experiencing regular power outages and
requires emergency power backup, these diesel generators provide standby,
prime, and continuous power output.
Diesel generators for the South
America & Africa regions are expected to expand at a rapid pace due to
increased urbanization and industrialization, which has resulted in a need for
excess and continuous electricity supply. Diesel generators provide prime,
standby, and continuous power production to the residential, commercial, and
industrial sectors, as well as a dependable source of power generation in an
emergency and at a remote location.
The majority of developing or
underdeveloped countries are located in South America and Africa. These
countries depend heavily on standby power generation or non-conventional
methods of power generation because conventional power generation is costly and
generates power at a lower capacity than the actual demand. All these factors
majorly result in a power outage in these regions. As a result, the majority of
end-users are turning to diesel-powered generators. End users like industries,
hospitals, construction sites, remote & discrete sites, commercial and
residential rely on diesel generators for continuous, prime, and standby power.
The rising number of power
outages and the high average price of power produced by conventional power
plants are driving up demand for diesel generators in the African and South
American regions. As a result, consumers prefer a continuous and dependable power
supply. Due to inadequate grid infrastructure and limited power generation
capacity, a significant investment in independent diesel generator units has
been made. Diesel generators use less fuel than other types of generators and
have a longer life cycle. Diesel generators provide dependable and continuous
power supply based on consumer demand while operating safely and efficiently.
All these major factors are accelerating the demand for diesel generators in
South America & Africa.
Diesel generators for the South
America and Africa region are expected to expand at a rapid pace, as increasing
urbanization and industrialization have resulted in a demand for excess and
continuous electricity supply. Diesel generators provide prime, standby, and
continuous power production to the residential, commercial, and industrial
sectors, as well as a reliable source of power generation in an emergency or in
a remote area. The market is being driven by a number of factors, including an
increase in power outages and power failures, rising demand for continuous and
dependable power supply, and growth in hybrid renewable energy systems.
However, the advancement of renewable energy technologies, as well as the high
operating and maintenance costs of diesel generators, will serve as restraints
for South America and Africa Diesel Generator Market.
Regional Analysis
Colombia is heavily investing in
the development of hybrid renewable energy systems in order to meet the
increasing demand for electricity. According to the World Bank, Columbia's
national electrification rate in 2016 was 98%, with approximately 90% rural
electrification rate, and the industrial sector contributed 34.00% of total
GDP. It was also discovered that approximately 53.3% of businesses suffered
power outages in 2016, with approximately 10.8% of businesses owning or sharing
a generator. The current scenario in the states of Colombia is a rising demand
for electricity, which hybrid renewable energy systems can meet.
Nigeria has one of Africa's
largest economies, with a GDP of 405,082.7 million USD in 2016. However,
Nigeria's development is severely hampered by an insufficient supply of
reliable electricity. According to the World Bank, Nigeria's national
electrification rate in 2016 was 45%, with rural electrification at 36%. In
addition, the industrial sector contributed 19.4% of the total GDP. It was also
discovered that approximately 77.6% of businesses suffered power outages in
2016, with approximately 70.7% of businesses owning or sharing a generator.
Nigeria is currently receiving significant assistance and investment to build
hybrid renewable energy systems and micro-grids. The diesel generator market in
Nigeria is expected to rise significantly over the forecast period.
Key Players
Notable players of South America
& Africa diesel generator market are Caterpillar Inc., AKSA Power
Generation, Cummins Inc., Generac Holdings Inc., Mitsubishi Heavy Industries
Engine & Turbocharger, Ltd., Aggreko PLC, Kohler Co., Rolls-Royce Power
Systems AG, Wuxi Kipor Power Co. Ltd, MAN Diesel & Turbo, General Electric
Company and Wärtsilä.
Summary
South
America & Africa Diesel Generator Market is anticipated to grow with
the CAGR of approximately 9.38% from 2018 to 2023 (forecast period). South
America and Africa Diesel Generator Market is expanding rapidly as a result of
factors such as an increase in power outages and power failures, rising demand
for continuous and dependable power supply, and growth in hybrid renewable
energy systems.
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