Pune, Nov. 10, 2020 (GLOBE NEWSWIRE) -- The global diesel generator market size is projected to reach USD 16.85 billion by the end of 2027. The increasing applications of the product will emerge in favor of market growth. According to a report published by Fortune Business Insights, titled “Diesel Generator Market Size, Share & COVID-19 Impact Analysis, By Power Rating (Below 75 kVA, 75-375 kVA, 375-750 kVA, and Above 750 kVA), By Portability (Stationary and Portable), By Application (Continuous Load, Peak Load, and Stand By Load), By End User (Mining, Oil & Gas, Construction, Residential, Marine, Manufacturing, Pharmaceuticals, Commercial, Telecom, and Others), and Regional Forecast, 2020-2027,” the market was worth USD 12.98 billion and will exhibit a CAGR of 5.5% during the forecast period, 2020-2027.
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https://www.fortunebusinessinsights.com/industry-reports/diesel-generator-market-100587
These generators are equipment that converts the chemical energy that is stored in the diesel into electric energy for use as a power source. The advent of portable diesel generators as well as compact equipment has catered to the increasing need for advanced devices. The increasing investments in the research and development of efficient diesel generators will have a direct impact on the growth of the market in the coming years. The ability of modern diesel generators to cater to heavy loads as well as smaller loads has contributed to the growing demand for the product across the world. The increasing product demand has encouraged companies to adopt new strategies and subsequently, the presence of several large scale companies and increasing Investments towards advanced generators will emerge in favor of market growth.
Covid-19 Pandemic to Bring Production Units to a Halt; SMEs Among the Worst Hit Categories
The recent coronavirus outbreak has had a drastic impact on several Industries across the world. It is observed that SMEs have been affected the most due to the efforts taken to curb the spread of the disease. The measures implemented to minimize the impact of Covid-19 have restricted the growth of several businesses to an extent that a few companies have been compelled to shut down. Although the stagnancy in manufacturing units in the diesel generator market has had a negative impact, the recent efforts taken to recover economic losses will not just emerge in favor of companies, but will also help the market recover.
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Increasing Number of Product Innovations will Emerge in Favor of Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the increasing applications of the product across diverse industry verticals, there is healthy market competition. As a result, companies are looking to integrate advanced concepts, with the aim of establishing a strong brand presence. In October 2018, Inmesol announced the launch of a new series of silent generators. The company stated that these products will cater to rental applications and will have an operating sound pressure discharge of around 50 dB(A). The company's latest silent generator range will have a power rating ranging from 85 kVA to 130 kVA. The increasing number of such product innovations across the world will bode well for the growth of the diesel generator market in the coming years.
Asia Pacific to Emerge Dominant; Rapid Industrialization will Contribute to Market Growth
The report analyzes the ongoing market trends across Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among all regions, the diesel generator market in Asia Pacific is expected to hold the largest market share in the coming years. The rapid industrialization, coupled with the increasing number of construction and building activities will emerge in favor of the growth of the regional market. As of 2019, the market in Asia Pacific was worth USD 4.92 billion and this value is projected to rise at a considerable pace in the coming years. The increasing population in countries such as India and China will create several growth opportunities for the regional as well as global companies operating in Asia Pacific.
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List of companies profiled in Diesel Generators Market research report:
- 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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Industry Developments:
April 2020: Kohler-SDMO announced the launch of a new range of industrial generators with a power rating between 900 kVA to 1,500 kVA. The company claims that the new units offer benefits such as to achieve complex operations, lower fuel consumption, and bridge the gap for the existing power rated products offered by competitors.
Detailed Table of Content:
- 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
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Insights on Regulatory Scenario
- 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 the 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, 2016-2027
- Key Findings / Summary
- 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 Portability
- Stationary
- Portable
- Market Analysis, Insights and Forecast – By Application
- Continuous Load
- Peak Load
- Stand by Load
- Market Analysis, Insights and Forecast – By End User
- Mining
- Oil & Gas
- Construction
- Residential
- Marine
- Manufacturing
- Pharmaceuticals
- Commercial
- Telecom
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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Portable Generator Market Size, Share and Global Trend by Fuel (Diesel, Gas, and Others), Power Rating (Below 5kVA, 5-15kVA, 15-45kVA, 45-75kVA), By Application (Residential, Commercial, and Others), and Regional Forecast, 2019 to 2026
Power Rental Market Size, Share and Industry Analysis By Rating (Below 75 KVA, 75 – 375 KVA, 375 – 750 KVA, Above 750 KVA), By Fuel Type (Diesel, Natural Gas and LPG, Others), By Application (Continuous, Stand By, Peak Load), By End-Use (Mining, Construction, Utility, Events, Manufacturing, Oil and Gas, Others) and Geography Forecast, 2019 - 2026
Natural Gas Generator Market Size, Share and Industry Analysis, By Power Rating (Below 75kVA, 75-375kVA, 375-750kVA, Above 750kVA), By Application (Stand-by and Continuous), By End-User (Residential, Commercial, and Industrial), and Regional Forecast, 2019 - 2026.
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