Pune, India, Sept. 05, 2022 (GLOBE NEWSWIRE) -- The global diesel generator market size is predicted to reach USD 26.09 billion by 2029 and exhibit a CAGR of 5.5% during the forecast period. Fortune Business Insights has presented this information in its report titled, “Diesel Generator Market, 2022-2029”. The Asia Pacific region is expected to be the fastest-growing market for diesel generators during the forecast period. The growth of the diesel generator market in the region is driven by the increasing demand from the construction, industrial, and commercial sectors. The study covers the forecast of the diesel generator market across five major regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. The global diesel generator market size was USD 16.89 billion in 2021 and USD 17.92 billion in 2022 respectively.
Industry Developments-
July 2021: Qulliq Energy Corp. has accelerated the replacement of community diesel gensets that have outlived their useful lives, thanks to the recent decommissioning of Grise Fiord's aged diesel plant. The new diesel gensets have improved the community's power supply reliability.
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List of Key Market Players:
- Caterpillar Inc. (U.S.)
- Aggreko (U.K.)
- Cummins Inc. (U.S.)
- Himoinsa (Spain)
- John Deere (U.S.)
- Kohler-SDMO (France)
- PRAMAC (Italy)
- 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.)
- Ingersoll Rand (U.S.)
- Yamaha Motor Co. Ltd. (Japan)
Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 5.5% |
| 2029 Value Projection | USD 26.09 billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 16.89 billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 257 |
| Segments covered | By Application, By End-User and Regional Forecast |
| Growth Drivers | Significant Expansions in Oil & Gas Sector to Augment Market Growth |
| The Middle East & Africa to Witness Significant Growth |
Drivers & Restraints-
Significant Expansions in Oil & Gas Sector to Augment Market Growth
Oil and gas consumption has skyrocketed because of its rising usage across several business sectors. Additionally, when new big hydrocarbon deposits are discovered and offshore wells are drilled, demand for diesel generator sets is expected to rise. However, leading government entities in a number of nations have implemented various policies and aim to encourage the adoption of green technologies and reduce reliance on fossil fuels that may impede the diesel generator market growth.
COVID-19 Impact-
The outbreak of the coronavirus has noticeably weakened industrial processes across the globe. The number of infected patients witnessed a constant rise driving different nations to implement national lockdowns and social distancing. Consequently, the closure of industries significantly affected the market due to this global pandemic.
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Segments-
- On the basis of power rating, the 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.
| Segmentation | By Power Rating
|
By Portability
| |
By Application
| |
By End User
|
Regional Insights-
The Middle East & Africa to Witness Significant Growth
The diesel generator market share in the Middle East & Africa is expected to grow significantly due to the abundance of natural resources and the need for inexpensive capital to discover bulk deposits. Additionally, rising investment to modernize commercial, residential, and industrial infrastructures, as well as developing manufacturing capabilities, would add to the region's market growth.
The North American diesel genset market is projected to benefit from favorable government policies to ensure energy security, as well as growing manufacturing capabilities. Long-standing DG set makers, as well as considerable increases in investments across several end-user sectors such as construction, pharmaceuticals, oil & gas, mining, and many others, are expected to add to the regional outlook. Latin America and Europe are anticipated to see continuous growth because of the enormous industrialization in the regions,
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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
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- 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, 2018-2029
- 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
- Market Analysis, Insights and Forecast – By End-User
- Mining
- Oil & Gas
- Construction
- Residential
- Marine
- Manufacturing
- Pharmaceuticals
- Commercial
- Telecom
- Electric Utility
- Data Centers
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Diesel Generator Market Analysis (USD Billion), Insights and Forecast, 2018-2029
Continued…
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