The new report by Expert Market Research titled, ‘Global Diesel Generator Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global diesel generator market, assessing the market based on its segments like power rating, mobility, cooling system, application, end use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 19.16 billion
• Forecast CAGR (2023-2028): 8.10%
• Forecast Market Size (2027): USD 30.58 billion
The oil and gas industry’s rapid growth is increasing the use of diesel generators, which is driving market growth. Because digging and drilling are two of the most important processes in oil extraction, there is a growing demand for diesel generators to provide dependable and uninterrupted power. Furthermore, the widespread use of diesel generators in gas stations to ensure continuous operation during extreme weather and natural disasters is also driving the market growth.
The low operating costs of diesel generators are increasing their use in commercial and industrial applications. The growing power industry supply-demand gap is causing a surge in diesel generators, particularly in developing countries, which is fueling market growth. Furthermore, the growing use of electronic devices in the construction industry increases demand for diesel generators for optimal power supply, driving market growth.
Market Segmentation
A diesel generator is a piece of equipment that uses diesel to convert chemical energy into electrical energy for use in a variety of applications. It is commonly used in the residential, commercial, and industrial sectors in the event of a power outage. Diesel generators are widely used in a wide range of industries, including telecommunications, construction, and oil and gas.
On the basis of power rating, the market can be segmented into:
• Low Power Generator (0-75 kVA)
• Medium Power Generator (75-375 kVA)
• High Power Generator (375 kVA and Above)
• Others
On the basis of its mobility, the market can be segmented into:
• Portable
• Stationary
On the basis of its cooling system, the market can be segmented into:
• Air Cooled
• Liquid Cooled
On the basis of its application, the market can be segmented into:
• Standby Backup Power
• Peak Shaving
On the basis of its end-use, the market can be segmented into:
• Industrial
• Commercial
• Residential
The regional markets include:
• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East and Africa
Market Trends
Diesel generators are weather-resistant and their durable properties make them ideal for demanding industrial applications. With frequent power outages, the effective power backup provided by diesel generators is increasing their demand in residential applications. Furthermore, increased research and development (R&D) activities to increase generator power output are providing additional impetus to the growth of the diesel generator market. Diesel engines can be controlled by computerized engine management systems, demand for diesel generators is increasing.
The adoption of novel solutions to reduce carbon emissions and exhaust from diesel generators is expected to drive market growth. Furthermore, increasing research activities to develop a machine that can trap particulate matter from diesel generator exhaust to reduce greenhouse gas emissions are expected to propel market growth. Furthermore, increasing efforts to improve the fuel efficiency of diesel generators are expected to drive market growth.
Key Market Players
The major players in the market are Atlas Copoco AB, Caterpillar Inc., Cummins Inc., Generac Holdings Inc., Aggreko Ltd., AKSA Power Generation, and Others.
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