Some of the major players operating in the global diesel genset market are Caterpillar Inc., Cummins Inc., Generac Holdings Inc., Kohler Co., General Electric Company, Denyo Co. Ltd., AB Volvo, Escorts Limited, Siemens AG, and Kirloskar Oil Engines Limited.
NEW YORK, May 30, 2019 (GLOBE NEWSWIRE) -- The global diesel genset market is projected to reach $17,821.3 million by 2024, registering a CAGR of 5.8% during the forecast period. Globally, the demand for diesel fueled gensets is primarily driven by the growing requirement for standalone power and backup power in construction sites, industries, residential buildings, retail stores, office spaces, hospitals, and hotels, according to P&S Intelligence
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The demand for diesel fueled gensets is growing with the aging grid infrastructure in countries like the U.S. and insufficient grid infrastructure in countries including Nigeria, Algeria, Ghana, and several other African and Latin American countries. In order to withstand the growing demand for standalone and backup power requirements, several diesel genset market players have been investing a huge amount for developing their product lines. For instance, players including Kirloskar Oil Engines Limited, Cummins Inc., and Kohler Co. have resorted to partnerships with other companies to reduce capex, develop and localize production lines, and offer customized solutions.
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Further, on the basis of application, the diesel genset market is classified into commercial, industrial, and residential applications. Of these, the commercial sector held the largest share in the market, with more than 50% share in 2018. This can be ascribed to the heavy demand for high-power gensets in commercial buildings and data centers for both backup and prime power supply. Growing urbanization in developing countries, which are coming up with smart city projects, and increasing data center installations in both developed and developing countries are expected to help the market for these gensets in commercial sector to grow with a promising rate during the forecast period.
In 2018, commercial offices accounted for over 25% sales value in the commercial application of diesel fueled gensets. Globally, commercial office applications majorly include commercial buildings and data centers. In these commercial offices, data centers have a significant revenue contribution, owing to their requirement of high-capacity gensets.
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The advent of new technologies, such as edge computing, internet of things (IoT), cloud computing, and artificial intelligence, is driving the development of hyperscale data centers, which are equipped with thousands of servers and therefore, require uninterrupted electricity supply for smooth operations. This need for reliable electricity supply in data centers is expected to drive the diesel genset sales, further boosting the diesel genset market growth during the forecast period.
Some of the major players operating in the global diesel genset market are Caterpillar Inc., Cummins Inc., Generac Holdings Inc., Kohler Co., General Electric Company, Denyo Co. Ltd., AB Volvo, Escorts Limited, Siemens AG, and Kirloskar Oil Engines Limited.
Caterpillar Inc. held over 24% share in the diesel genset market in 2018. The company has a robust product portfolio and a vast distribution network (comprising dealers and e-commerce gateways). The company offers diesel generator sets under the Caterpillar, FG Wilson, Perkins, and Olympian brands.
More reports on diesel genset by P&S Intelligence
U.S. Diesel Genset Market
https://www.psmarketresearch.com/market-analysis/us-diesel-genset-market
In 2018, offices accounted for over 36.0% sales value in the commercial demand for diesel generator sets in the U.S. In commercial office applications, data centers are the largest revenue-generating end users of diesel generator sets in the country. According to a report published by CBRE Data Center Solutions in 2018, the advent of new technologies, such as edge computing, internet of things (IoT), cloud computing, and artificial intelligence, is driving the development of hyperscale data centers, which are equipped with thousands of servers and, therefore, require uninterrupted electricity supply for smooth operations.
Nigeria Diesel Genset Market
the industrial category contributed over 40% revenue to the market in 2018. This can be ascribed to the heavy demand for high-power gensets in the country’s industrial sector. Furthermore, the proposed Economic Recovery and Growth Plan (ERGP) of the Federal Government of Nigeria is expected to attract investments in the manufacturing sector of the country, thereby offering impetus to diesel genset adoption for the construction and operation of various industries.
https://www.psmarketresearch.com/market-analysis/nigeria-diesel-genset-market
India Diesel Genset Market
The demand for diesel gensets by telecom towers is estimated for a volume share of over 51.0% in the Indian commercial diesel genset industry in 2018. This is attributable to high-volume demand for gensets to serve prime and auxiliary power requirements in telecom towers. Furthermore, the demand is likely to be driven by investments in the telecom sector, and growing installation of telecom towers to cater data and voice coverage requirements in remote locations across the country.
https://www.psmarketresearch.com/market-analysis/india-diesel-genset-market
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