17-Sep-2020 | Zion Market Research
As per Zion Market Research, the global diesel generator market is estimated to surge at a CAGR of 1.8% during the forecast period 2020–2026. The targets of the administrations of various nations to achieve noteworthy progress in the rural electrification rate, augment in power outages in the urban regions, and the longer timeline needed to set up the transmission and sharing infrastructure are some of the drivers for the global diesel generator market. On the contrary, the augmenting availability of natural gas and the developing natural gas generator technology, increasing use of renewables as another power source, and the safeguarding challenges for diesel generators are the limiting aspects for the market.
Some of the key players in the global market are Denyo Co Ltd., Kirloskar Electric Company, Ashok Leyland, Greaves Cotton Limited, Rolls-Royce plc, Mitsubishi Heavy Industries Ltd., Caterpillar, Wärtsilä, and Cummins Inc.
Industrial Sector Will Proliferate The Demand For Generators And Advance The Global Diesel Generator Market
The industrial segment was predicted to account for the major share in the global market in 2019. Industrial operations are chiefly reliant on electricity produced from diesel generators throughout power outages (to evade production risks) and in areas where grid access is restricted. The industrial segment, which includes manufacturing, mining, construction, and agriculture, accounts for the principal share of energy intake of any end-use segment. Thus, the surging demand for reliable and uninterrupted power supply from the industrial segment, particularly from healthcare facilities, manufacturing facilities, and pharmaceutical industries, is likely to shoot up the demand for diesel generators. India and China are anticipated to register strong industrial growth in the upcoming years owing to the sharp surge in manufacturing segments, which is likely to propel the demand for diesel generators across the industrial sector.
The global diesel generator market is bifurcated on the basis of application, power rating, end-user, and regional analysis. Based on the application, the market is segmented into prime or continuous power, peak shaving, and standby power. Based on the power rating, the market is divided into 0–100 kVA, 100–350 kVA, 350–1000 kVA, and 1000 kVA. Based on the end-user, the market is divided into residential, industrial, and commercial. The industrial segment is subdivided into oil & gas, utilities/power generation, and others. The commercial segment is subdivided into healthcare, IT & telecom, and others.
Asia-Pacific Region Expected To Dominate The Global Diesel Generator Market Over Forecast Period
Based on geographical analysis, the global diesel generator market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The market in the Asia Pacific region ruled the diesel generator market in 2019 and is likely to maintain its place in the forecasted period. China is the major diesel generator market across the Asia Pacific region due to augmenting infrastructure projects, increasing power demand-supply breach, the advancement of manufacturing facilities in the nation, and surging commercial office spaces. The Indian administration is focusing on upgrading the economy with surged infrastructure spending, chiefly on roads, railways & metro rail. Additionally, the rapid development in various end-use segments, such as telecommunication, infrastructure, and information technology & IT-enabled services is anticipated to further stimulate the demand for diesel generators in India.
Browse the full “Diesel Generator Market - By Application (Peak Shaving, Standby Power, and Prime Or Continuous Power), By Power Rating (0–100 kVA, 100–350 kVA, 350–1000 kVA, and 1000 kVA), By End-User (Residential, Industrial, and Commercial), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/diesel-generator-market
The global diesel generator market is segmented as follows:
By power rating:
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