Pune, India, Feb. 17, 2022 (GLOBE NEWSWIRE) -- The global diesel generator market size is forecasted to reach USD 23.77 billion by 2028, growing at a 5.5% CAGR during the forecast period. The soaring energy demands and the swiftly developing industrial infrastructure are anticipated to be the key factors driving the market growth. Fortune Business InsightsTM has presented this information in its report titled “Diesel Generator Market, 2021-2028”. The market size stood at USD 15.59 billion in 2020 and USD 16.35 billion in 2021.
Additionally, the key players operating in the market emphasize product advancements. They focus on developing and launching new products that can withstand harsh atmospheres effectively. The new product advancements are likely to bolster the market growth in the coming years.
COVID-19 Impact-
Slowdown in Industrial Operations to Hamper Market Development
The sudden emergence of the COVID-19 pandemic resulted in stagnated industrial processes globally. The shutdowns of industrial operations during the lockdowns and curfews implemented by the governments of several nations have affected the market growth. Disruptions in construction, mining, exploration, and other industries have aggravated the situation. Nonetheless, the major vaccination drives across the globe are helping the market recover with eased restrictions. The market is likely to prosper in the forthcoming years.
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Segments-
On the basis of power rating, the Diesel Generator Market is fragmented into above 750 kVA, 375-750 kVA, 75-375 kVA, and below 75 kVA.
On the basis of portability, the market is bifurcated into portable and stationary.
On the basis of application, the market is trifurcated into standby load, peak load, and continuous load.
On the basis of end-user, the market is segmented into utility, telecom, commercial, pharmaceuticals, manufacturing, residential, construction, marine, oil & gas, mining, and others.
Geographically, the market is classified into Latin America, the Middle East & Africa, Europe, Asia Pacific, and North America.
Report Coverage-
The report offers valuable insights into the market’s regulatory scenarios. It assimilates information on the latest market trends and industry developments. It incorporates SWOT Analysis for precise prediction. It sheds light on the COVID-19 pandemic’s effect on the market. It highlights strategies adopted by key players to acquire the market share.
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Drivers & Restraints-
Soaring Energy Demand to Foster Market Growth
The increasing oil and gas consumption across diverse industry verticals and the rising discoveries of new hydrocarbon reserves are anticipated to augment diesel generator market growth. Additionally, the growing offshore well exploitation is likely to fuel market growth.
The soaring energy demand worldwide due to surging production activities is expected to amplify the market growth in the coming years. Additionally, the rising investments and expenditures to provide efficient energy management in various sectors are anticipated to stimulate the market diesel generator growth.
The key market players emphasize product advancements to launch new products that can withstand harsh atmospheres effectively. The new product advancements are likely to bolster the market growth during the forecast period.
Lastly, the rising efforts by private and public entities to combat power outages, cable faults, grid system malfunctions, and others are anticipated to boost the market growth.
However, the strict regulations and rising integration of clean energy alternatives are expected to restrain the market growth.
Regional Insights-
Swift Industrialization to Augment Growth in Asia Pacific
Asia Pacific is anticipated to dominate the global diesel generator market share. The high migration of people from rural to urban areas, swift industrialization, new facility constructions, and vast infrastructure development targets are anticipated to be the key factors fuelling the region’s market growth.
The Middle East & Africa is likely to witness substantial growth in the global market due to growing expenditures to revolutionize industrial, commercial, and residential infrastructures. Additionally, low explorations costs of bulk reserves and abundantly available natural resources are expected to fuel the market growth.
North America is predicted to experience significant growth due to increasing investments across pharmaceuticals, construction, mining, oil & gas, and other end-use industries.
Latin America and Europe are expected to exhibit steady growth due to rising consistent energy requirements owing to high industrialization.
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Competitive Landscape-
Major Players Adopt Innovative Strategies to Amplify Market Presence
The market is consolidated and comprises several key players operating at country, regional, and global levels. The key players adopt ingenious strategies, including partnerships to extend their geographical presence and product reach. They adopt other strategies such as new product launches, technological advancements, patents, mergers, acquisitions, and others to augment their rankings in the global market. In July 2021, the Delhi Pollution Control Committee mandated all 125 kVA rating diesel generator users to install emission control devices to control pollution levels in the city to be cited as industry development.
Industry Developments-
- June 2020: Caterpillar Inc. launched three new power nodes for its Cat C18 diesel generator sets. The generator sets offer high power density and occupy less floor space.
Major Key Players in the Global Diesel Generator Market:
- Caterpillar Inc. (U.S.)
- Aggreko (U.K.)
- Cummins Inc. (U.S.)
- Himoinsa (Spain)
- John Deere (U.S.)
- Kohler-SDMO (France)
- Wartsila (Finland)
- Kirloskar Electric Co. Ltd. (India)
- Generac Power Systems (U.S.)
- FG Wilson (U.K.)
- Atlas Copco (Sweden)
- American Honda Motor Company, Inc. (U.S.)
- Briggs & Straton (U.S.)
- Inmesol S.L.U. (Spain)
- HiPower Systems (U.S.)
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DIESEL GENERATOR: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2021-2028
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Diesel Generator Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments by Industry Players in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Diesel Generator Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Portability
- Stationary
- Portable
- Market Analysis, Insights and Forecast – By Power Rating
- Below 75 kVA
- 75-375 kVA
- 375-750 kVA
- Above 750 kVA
- Market Analysis, Insights and Forecast – By Application
- Continuous Load
- Peak Load
- Standby Load
- Diesel Generator Market Analysis, Insights and Forecast – By End-User
- Mining
- Oil & Peak Load
- Construction
- Residential
- Marine
- Manufacturing
- Pharmaceuticals
- Commercial
- Telecom
- Utility
- Others
- Diesel Generator Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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