Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 18.04 Billion | USD 39.84 Billion | 9.2% | 2023 |
Zion Market Research has published a report on the global Diesel Generator Market, estimating its value at USD 18.04 Billion in 2023, with projections indicating that it will reach USD 39.84 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 9.2% over the forecast period 2024-2032.
The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Diesel Generator industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.
A diesel generator is the blend of diesel engine and electric generator and is utilized for producing electricity. Moreover, it is compact and strong machinery that is utilized for transforming mechanical energy into electrical energy. Furthermore, the product makes use of the diesel as fuel for process of combustion in combustion chamber subjected to heavy pressure and this will assist generator to commence its functions and help in shaft rotation for generating power. Additionally, it is used for supplying electricity at the time of power outages or black outs or due to power fluctuations in most of the commercial & industrial sectors.
Surge in the demand for incessant power supply and need for saving costs will drive the product demand in the forthcoming years. In addition to this, massive need of electricity in manufacturing, telecom, marine, construction, residential, healthcare, and chemical sectors will embellish the growth graph of the market in the upward direction over the ensuing years. Apparently, a steep rise in the population, swift industrialization, and infrastructural growth are few of the major factors that will favorably influence the expansion of the diesel generator industry over the forthcoming years.
In addition to this, escalating utilization of devices operated with the help of electronics will result in humungous requirement of generators for continuous power supply at time of power disruptions, thereby multiplying the growth of diesel generators industry over the forecasting timeline. However, strict government laws for reducing carbon footprints will hinder the product penetration over the coming decade. Nonetheless, low operating prices coupled with requirement of less initial capital will not only nullify the market inhibitions but will create lucrative growth horizons for the market over the years ahead.
Report Attributes | Report Details |
---|---|
Report Name | Diesel Generator Market |
Market Size in 2023 | USD 18.04 Billion |
Market Forecast in 2032 | USD 39.84 Billion |
Growth Rate | CAGR of 9.2% |
Number of Pages | 110 |
Key Companies Covered | Denyo Co Ltd., Wärtsilä, Kirloskar Electric Company, Ashok Leyland, Mitsubishi Heavy Industries Ltd., Caterpillar, Greaves Cotton Limited, Rolls-Royce plc, and Cummins Inc |
Segments Covered | By Application, By Power Rating, By End-User And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The growth of the diesel generation market in Asia Pacific over the estimated timespan is attributed to surge in the production units as well as infrastructure ventures in the countries like India and China. Furthermore, increase in the population in this densely populated region has created humungous demand for electricity. Moreover, scarce power supply in rural areas and no power supply in some of the remote areas of emerging economies in the region have culminated in huge product demand in Asia Pacific. Constant power outages and black outs has resulted in high product penetration in industrial, commercial, and residential sectors, thereby further driving the regional market trends. The regional market is also projected to register fastest growth rate over the assessment period.
The global diesel generator market is led by players like:
By Application
By Power Rating
By End-User
By Region
FrequentlyAsked Questions
The growth of the diesel generation market in Asia Pacific over the estimated timespan is attributed to surge in the production units as well as infrastructure ventures in the countries like India and China. Furthermore, increase in the population in this densely populated region has created humungous demand for electricity. Moreover, scarce power supply in rural areas and no power supply in some of the remote areas of emerging economies in the region have culminated in huge product demand in Asia Pacific.
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