The Global Diesel Generator Market accounted for US$ 18,596 Mn in 2021 and is expected to reach US$ 35,208 Mn by 2030 with a considerable CAGR of 7.4% during the forecast timeframe of 2022 to 2030.
A diesel generator is a piece of equipment that turns the chemical energy in diesel into electrical energy. It can provide electricity to electrical gadgets and devices. It can also power a variety of applications, including institutions, healthcare facilities, companies, and households. It could be used as a primary source of power or in an emergency. Generators are classified into four types based on their intended function. For backup applications, emergency standby and limited-time power, and continuous and prime rated power when employed as the primary source of power. A diesel generator's efficiency ranges between 30 and 50 percent and is a mix of diesel engine and alternator efficiencies. The key benefits of diesel generators are their long durability, great efficiency, low cost in comparison to other generators, and quick setup time. Besides this, the usage of diesel generators pollutes the environment and has high maintenance and running costs.
· Increasing initiatives to address power failures
· Significant growth in the oil and gas industry
· Lack of grid infrastructure in remote locations
· Growing industrialization in developing countries
· Stringent emission regulations
· The growing integration of clean energy alternatives
· Rapidly expanded industrial infrastructure, as well as rising energy demand
|Market||Diesel Generator Market|
|Market Size 2021||US$ 18,596 Mn|
|Market Forecast 2030||US$ 35,208 Mn|
|CAGR||7.4% During 2022 - 2030|
|Analysis Period||2018 - 2030|
|Forecast Data||2022 - 2030|
|Segments Covered||By Power Rating, By Mobility, By Applications, By End-use, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Atlas Copco AB, AKSA Power Generation Company, Caterpillar, Inc., Doosan Portable Power, Cummins, Inc., Denyo Co., Ltd., Kirloskar Electric Company, FG Wilson, Generac Power Systems, Inc., Kohler Co., Wartsila Corporation, and Mitsubishi Heavy Industries, Ltd.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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Diesel Generator Market Dynamics
The diesel generator market is being driven by the rising need for continuous and consistent power delivery, as well as a rise in the number of power outages. Additionally, industrialization and urbanization in developing nations, Continuous energy outages, an increasing number of data centers, rapid population expansion, the necessity for constant power supply to the healthcare systems, and other reasons are driving the growth of the diesel generator market. Its low cost of maintenance, durability, safe storage, quick access to fuel, and the finding of hydrocarbon deposits, among other things, provide it a competitive advantage in the market. Diesel generators' cheap operating costs are encouraging their use in industrial and commercial applications, which is fueling the industry's growth. Furthermore, the increasing use of electronic gadgets in the engineering industry is increasing the demand for generators for optimum power sources, which is driving market expansion.
Market by Power Rating
· Low Power Generator
· Medium Power Generator
· High Power Generator
Based on power rating, the low power generator will have the largest market share in 2021. This growth could be attributable to the availability of a diverse application base in the residential and industrial sectors. Generators with capacities less than 80 kW are used as power backup solutions in private households to power electrical devices such as water purifiers, water pumps, AC units, geysers, and others. Furthermore, the high efficiency of these generators is expected to have a substantial impact on expanding product demand during the projected years.
Furthermore, due to rising demand from large-scale industries such as construction, healthcare, manufacturing, commercial, and data centers, the high-power diesel engine is expected to obtain a considerable market share in the coming years.
Market by Mobility
Based on mobility, the stationary diesel generator segment will lead the global market in 2021 due to rising demand from industrial sectors such as mining, manufacturing, agriculture, and construction. Furthermore, the portable segment is expected to grow dramatically in the market over the estimated time period. Portable diesel generators are easy to transport, are designed for staff usage, are cost-effective, provide emergency backup and injury protection, and endure a long time. Portable generators are in significant demand as a result of these advantages.
Market by Applications
· Standby Power
· Peak Shaving
· Prime or Continuous Power
In terms of application, the standby power sector is expected to lead the global market in 2021. Standby power diesel generators are used for backing up of emergency power for a short amount of time due to the lack of overloading capabilities incorporated into the generator units. Companies recognize the steady growth rate of the standby power diesel generator market and, as a result, focus on new product launches as a means of generating business revenue through increased product sales revenue.
Market by End-use
Based on the end-use, the commercial segment held the largest share of the diesel generator market due to increased demand from commercial venues such as supermarkets, malls, complexes, theatres, and other purposes. The rapid growth rate can be attributed to the broad application area, which includes government centers, data centers, educational institutions, hospitality, healthcare, agriculture, and telecommunications, among other things.
Diesel Generator Market Regional Overview
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa
Asia-Pacific dominated the worldwide diesel generator industry in 2020, and this dominance is likely to continue throughout the forecast period. The increasing number of manufacturing facilities and infrastructure upgrades in China, as well as the widening electrical demand-supply imbalance and rapid expansion of commercial office space, are likely to improve the industrial structure throughout the region. China is the Asia-Pacific region's leading diesel generator market, owing to expanding infrastructure projects, a widening power demand-supply gap, the development of industrial facilities throughout the country, and rising commercial office space. The low cost and great efficiency of diesel generators help the country, since improving living standards raise demand for power backup equipment.
Some of the prominent players in global diesel generator market are Atlas Copco AB, AKSA Power Generation Company, Caterpillar, Inc., Doosan Portable Power, Cummins, Inc., Denyo Co., Ltd., Kirloskar Electric Company, FG Wilson, Generac Power Systems, Inc., Kohler Co., Wartsila Corporation, and Mitsubishi Heavy Industries, Ltd.
The estimated value of global diesel generator market in 2021 was accounted to be US$18,596 Mn.
The projected CAGR of diesel generator during the analysis period of 2022 to 2030 is 7.4%.
The prominent players of the global diesel generator market involve Atlas Copco AB, AKSA power Generation Company, Caterpillar, Inc., Doosan Portable Power, Cummins, Inc., Denyo Co., Ltd., Kirloskar Electric Company, FG Wilson, Generac Power Systems, Inc., Kohler Co., Wartsila Corporation, and Mitsubishi Heavy Industries, Ltd.
Asia-Pacific held the dominating share for diesel generator during the analysis period of 2022 to 2030
North America region exhibited fastest growing CAGR for diesel generator during the analysis period of 2022 to 2030
Significant growth in the oil and gas industry, lack of grid infrastructure in remote locations, and growing industrialization in developing countries are the prominent factors that fuel the growth of global diesel generator market
Based on power rating, low power generator segment held the maximum share for diesel generator market in 2021