Acumen Research and Consulting recently published report titled “Diesel Generator Market Size, Share, Analysis Report and Region Forecast, 2022 – 2030”
TOKYO, June 15, 2022 (GLOBE NEWSWIRE) — The Global Diesel Generator Market accounted for US$ 18,596 Mn in 2021 and is expected to reach US$ 35,208 Mn by 2030 with a considerable CAGR of 7.4% during the forecast timeframe of 2022 to 2030.
Power is a critical component of infrastructure that is required for a world’s economic growth and prosperity. The availability and implementation of specialized infrastructure are crucial for the continued growth of the global economy. Coal, natural gas, lignite, oil, hydropower, and nuclear power are all viable power generating sources, as are viable non-conventional choices such as solar, wind, and agricultural and household waste. Electricity usage in the world is growing dramatically and is expected to increase even more in the coming years. A significant increase in total energy production is required to meet the world’s growing demand for power.
Generators can be powered by a variety of fuels, including diesel, fusion, and natural gas. Due to their scalable, adaptable, and weather-independent operation, diesel units have become a popular backup or transportable power alternative. Electricity demand has increased as a result of the spectacular expansion of industrialization. Due to the necessity for continuous power consumption as well as peak and steady power requirements, diesel generators have become an essential piece of industrial and household equipment. Generators are units of machinery that convert mechanical energy into appropriate electrical power for a wide range of applications. A generator unit includes numerous components to correctly create and manage current, including an engine, alternator, fuel system, cooling & exhaust system, main assembly, and others.
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|Diesel Generator Market|
|Market Size 2021||US$ 18,596 Mn|
|Market Forecast 2030||US$ 35,208 Mn|
|CAGR||7.4% During 2022 – 2030|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Power Rating, By Mobility, By Applications, By End-use, And By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Atlas Copco AB, AKSA Power Generation Company, Caterpillar, Inc.,
Doosan Portable Power, Cummins, Inc., Denyo Co., Ltd., Kirloskar Electric Company,
FG Wilson, Generac Power Systems, Inc., Kohler Co., Wartsila Corporation,
and Mitsubishi Heavy Industries, Ltd.
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Global Diesel Generator Market Growth Aspects
At the moment, the world is witnessing a substantial increase in the need for power. As a result, having a dependable source of power has become critical. The rising frequency of natural disasters that cause power outages necessitates the use of standby generator sets. A constant and consistent flow of power is a top need for all sectors. The necessity for continuous power supply in the construction sector is also generating a space for the use of generator sets, which is driving the expansion of this market.
A diesel generator is a device that generates electricity by combining a diesel engine and an electric motor-generator. A diesel compression-ignition engine is primarily designed to run on diesel fuel, but certain types can also run on other liquid fuels or natural gas. It generates power in order to provide a continuous power source during power outages. It is commonly used as a backup device during rolling blackouts or in areas without access to the power grid. The increasing use of diesel generators, which can provide more in-home applications such as water pumps, power, and specific required applications such as air conditioning systems, refrigeration, and hospital instruments, is predicted to provide various opportunities in the near future.
Increasing demand from a variety of industries, including oil and gas, mining, and pharmaceuticals, is expected to drive the growth of the generator production market over the forecast period. Generators are used as a standby source of electricity in various industrial activities. The need for diesel generators in industry verticals such as hospitals, hotels, and business areas is being driven by the necessity for a reliable energy backup source. Furthermore, telecom organizations’ increasing emphasis on offering high-speed services is fueling the growth of the diesel generator industry. The industry is predicted to grow significantly over the next few years due to increased expenditure in the telecommunication sector and increased building of telephone towers for connection in remote regions.
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North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global diesel generator market. The Asia-Pacific region accounts for the largest share of the worldwide diesel generator market, owing to increasing urbanization and increasing energy supply in growing markets such as India and China. Increasing demand from a variety of industries in the region, including mining, petroleum and gas, and pharmaceuticals, is expected to support the growth of the generator manufacturing market during the forecast period. Furthermore, the region’s expanding number of data centers and IT sectors are fueling the development of the diesel generator market, as data centers ensure that they have many backup power options in order to avoid downtime during power outages. The presence of growing nations such as China, Australia, Japan, and India in the worldwide market is believed to improve the expansion of the Asia-Pacific diesel generator market.
The global diesel generator market has been segmented by Acumen Research and Consulting based on power rating, mobility, applications, and end-user. Based on the power rating, the market is divided into low power generator, medium power generator, and high power generator. Based on mobility, the market split into stationary, and portable. Based on applications, the market is classified into standby power, peak shaving, and prime or continuous power. Based on crop type, the market is categorized into industrial, commercial, and residential.
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Somekey players covered global in the diesel generator industry are Atlas Copco AB, AKSA power Generation Company, Caterpillar, Inc., Doosan Portable Power, Cummins, Inc., Denyo Co., Ltd., Kirloskar Electric Company, FG Wilson, Generac Power Systems, Inc., Kohler Co., Wartsila Corporation, and Mitsubishi Heavy Industries, Ltd.
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