Diesel Genset Market Overview:
Diesel Genset Market is projected to be worth USD 30.81 billion, registering a CAGR of 8.70% during the forecast period (2022 - 2030). The market was valued at USD 17.23 billion in 2021.
Our Market Overview and Regional Analysis provide an understanding of the industries, companies and products within the market. Our Trends section provides an analysis of how the market is currently performing and looks set to perform in the future. Our Growth Forecast section gives you an idea about how our Market Analysis works, by giving us further details on how we can build our Market Forecast model for a particular domain within this report. Lastly, in our Metrics section we outline important data points relating to each of these sections as well as our current forecasted price range.
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Industrial Diesel Generator have applications across many sectors with shared purposes, such as data centers, healthcare facilities, emergency power operations, power in remote locations, and power for cooling or heating units on reefer containers. Diesel generators offer significant advantages, such as substantial money savings, low-maintenance costs, longer runtime, safer operations, and efficiency.
Industry Trends
The growing use of diesel generators across industrial, commercial, agriculture, and other purposes is a key driving force. Moreover, product standardization, enhanced research & innovation, and increased lab & field tests are significant market trends. Frequent power outages caused by natural calamities that can interrupt operations in industries, emergency services, homes, and commercial establishments, further escalate market growth.
On the other hand, strict government amends and restrictions imposed on power distribution companies mandating electricity supply 24x7 in metros and large cities to dissuade diesel genset use hamper the market growth. Nevertheless, huge R&D investments by industry players in developing efficient engines that can reduce harmful gases emitted from diesel generators would support the market growth in the coming years.
Segments
The diesel generator market analysis is segmented into power rating, portability, end-use, and regions. The power rating segment is sub-segmented into 375KVA-1000KVA and above 1000 KVA. The portability segment is sub-segmented into portable and stationary. The end-user segment is sub-segmented into agriculture, commercial, and industrial.
Regional Analysis
The Asia Pacific region dominates the global diesel generator market. The growing demand for a steady & reliable power supply from the growing number of data centers in the region fosters market sales. Moreover, the massive availability of diesel due to the rising oil & gas activities increases the region's diesel generator market share. Furthermore, a relaxed approach and lenient government regulations against gas emissions from diesel gensets positively impact the regional market's growth.
On the other hand, diesel generator markets in North America and Europe demonstrate sluggish growth, mainly due to stringent fuel mapping regulations. However, optimized emissions in non-emissions regulated regions, including the USA, Canada, Europe, etc., support the market growth. Additionally, low-NOx optimized use in mission-critical segments like data centers and cost-efficiencies boosts the market value, enabling hassle-free deployment and delivering top-of-the-line fuel consumption regardless of the calibration.
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Key Players:
Key players involved in the market are Cummins Inc. (US), Caterpillar (US), Mitsubishi Heavy Industries, Ltd (Japan), Wärtsilä (Finland), Kohler Co. (US), Atlas Copco AB (Sweden), Rolls-Royce plc (UK), Yanmar Co. Ltd. (Japan), Kirloskar Electric Company (India), JS Power (UK), Generac Power Systems, Inc. (the US), General Electric (US), Ashok Leyland (India), Sutton Power Engineering (UK), and Denyo Co., Ltd (Japan), among others.
