As indicated by Acumen Research and Consulting, the global diesel gensets market size is evaluated to grow at CAGR around 6% over the estimate time frame. The diesel gensets is the mixture of an electric generator and diesel engine in order to produce electrical energy. This is an explicit case of engine generator. A diesel compression ignition engine is generally considered to run on diesel fuel, but a few types are used for other natural gas or liquid fuels. Expanding demand for reliable and consistent power supply, rising consumer consciousness toward emergency backup power solutions, growing urbanization, increasing large infrastructures and commercial centres and favourable government initiatives have boosted the growth of the global diesel gensets market. The North America market is likely to grow at remarkable CAGR due to growing usage of traveller vehicles together with the improvement of engine performance. Continuous development of commercial, industrial, retail and residential infrastructures in the region is also expected to increase the growth of the regional market.
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Commercial Segment is Anticipated to Witness a High Demand over the Forecast Period
On the basis of end use, the diesel gensets market is segmented into residential, commercial, and industrial. Commercial segment is forecasted to dominate the global diesel gensets market during the forecast period owing to the growing usage of diesel gensetss in various industrial applications. High risks of natural failure such as hurricanes in coastal regions need a constant power backup, thereby boosting the demand for diesel gensets. Continuous investments toward expansion of commercial centers all along with rising urbanization are expected to spur the growth of commercial diesel gensets market. Additionally, due to the increasing number of internet users the development of data centers is increasing rapidly across the world and this factor is expected to further boost the market growth. Growth in the commercial vehicles and increased adoption of technologically advanced products in automotive industry are some of the fundamental factors responsible for the growth of the market. On the other hand, residential segment is also anticipated to shoe substantial growth during the forecast period owing to the increasing implication of emergency backup power against frequent grid disruptions as awareness method and ongoing technological innovations. Also increasing demand for reliable power is further boosting the growth of the global market. Growing urbanization across various emerging countries and government initiatives are positively influencing the growth of the global diesel gensets market.
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North America to Continue to Grow at Maximum Growth Rate during the Forecast Period
Geographically, the global diesel gensets market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America is expected to accumulate highest market share in the global diesel gensets market. North America is expected to grow at ample growth rate over the forecast period owing to the rising initiatives taken by governments and escalating demand for fuel-efficient vehicles. Owing to the stringent fuel economy and emission standards implemented by regulatory bodies such as the U.S. Environmental Protection Agency (EPA) and growing technological advancements in the region are some of the factors responsible for the growth of the regional market. Rapid growth in the automotive industry is the primary factor influencing the growth of the regional diesel gensets market. Asia Pacific is expected to grow at highest CAGR during the forecast period owing to the continuous development of commercial, industrial, retail and residential infrastructures in the region. Rapidly increasing telecom sector, frequent power failures across various countries and fast industrial growth are some of the factors responsible for the growth of the regional diesel gensets market.
Eurotech Group, Digi International, Mercury Systems and Advantech, Radisys are Likely to Continue to Lead the Global Diesel gensets Market
The diesel gensets market is consolidated with limited number of manufacturers. The company profiling of key players in the market includes company overview, major business strategies and revenues. The key players of the market are Mitsubishi Heavy Industries, Ltd., Wacker Neuson SE, Burtonwood Generator & Switchgear Services Ltd., Atlas Copco AB, Wartsila Corporation, APR Energy PLC, Kirloskar Electric Co., Ltd. and Generac Power Holdings, Inc.
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