DUBAI, UAE, Jan. 19, 2024 /PRNewswire/ — According to the latest report published by Kings Research, the global Diesel Generator Market size was recorded at USD 12.03 billion in 2022 and is estimated to grow to USD 22.63 billion by 2030, exhibiting an 8.39% CAGR over 2023-2030. The market is witnessing growth due to the rising need for reliable backup power solutions in sectors such as healthcare, data centers, manufacturing, and construction. Diesel generators play a vital role in ensuring uninterrupted operations by providing a reliable power source during grid outages. Furthermore, the increasing occurrence of severe weather conditions caused by the impact of climate change is driving the need for diesel generators as an alternative power supply. Additionally, the upsurge in global infrastructure and construction initiatives, particularly in developing nations, is playing a significant role in fostering this growth.
A diesel generator, sometimes referred to as a genset, is a multipurpose power producing device that produces electricity from diesel fuel. Its components are an alternator that produces electricity and an internal combustion engine that operates on diesel fuel. Diesel generators are increasingly used in many different applications due to their dependability, toughness, and capacity to supply prime or standby power.
Diesel generators have a wide range of applications. They are frequently used as secondary power supplies in crucial establishments such as hospitals, data centers, and industrial facilities where they guarantee uninterrupted operations in the event of power grid failures. In addition, diesel generators are employed in remote or off-grid locations where the primary power grid is either inaccessible or lacking. In these scenarios, they play a crucial role in supplying necessary electricity for mining operations, construction sites, and rural communities.
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Competitive Landscape
Prominent players in the global diesel generator market are focusing on strategic agreement and development in order to sustain the competitive marketplace. For instance, in December 2021, Enrogen, a United Kingdom-based company specializing in diesel generators, successfully obtained a contract to deliver 30 MW of diesel generators to a major data center in Saudi Arabia. This agreement involved supplying twelve 2.5 MVA generators, which were to function as backup power sources for an upcoming data center project initiated by a leading global computer company in the northeastern region of Saudi Arabia.
Key participants in the global diesel generator market include:
- Caterpillar
- Aggreko
- Cummins Inc.
- Wärtsilä
- Kohler
- Kirloskar Electric Company
- Generac Power Systems, Inc.
- Atlas Copco
- Briggs & Straton
- Yamaha Motor Co., Ltd.
- PowerLink Group
- HIMOINSA
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Trending Now: Cummins Introduces Latest Generator Set Featuring the Cummins B4.5 Engine
The MDCT (Marine Diesel Cummins Turbo) genset, a reliable power option for maritime applications, was introduced by Cummins in May 2023. With a low or high kW Cummins B4.5 auxiliary engine, this adaptable genset provides a range of power options, with power ratings from 40 kWe to 110 kWe.
The global Diesel Generator Market is segmented as:
By Power Rating
- Below 100 kVA
- 100-350 kVA
- 351-1000 kVA
- Above 1000 kVA
Extensive Use of Below 100 kVA Diesel Generators to Bolster Diesel Generator Market Expansion
Based on power rating, the below 100 kVA segment is likely to grow at a robust 10.28% CAGR from 2023 to 2030. The significant growth can be primarily attributed to its wide applicability in both the commercial and residential sectors. In residential settings, generators with a capacity of less than 100 kW are commonly employed as backup power sources to operate various appliances, including water pumps, purifiers, air conditioners, geysers, and more. Moreover, the affordable price range of these generators is anticipated to stimulate product demand in the future.
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By End User
- Industrial
- Commercial
- Residential
Increasing Need for Power Supply in Residential Settings to Aid Diesel Generator Market Growth
Based on end user, the residential segment is expected to generate revenue of USD 5.63 billion by 2030. The surge in consumer awareness, the rising need for the main power supply, and frequent electricity outages have resulted in an increasing dependence on diesel generators as a reliable alternative power source. Moreover, the COVID-19 pandemic, which has prompted a shift towards remote work, has intensified the demand for residential electricity, further fueling the utilization of diesel generators. The recent power failure in Texas has further underlined the significance of having a dependable backup power solution.
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Surging Need for Robust Power Backup Solutions to Augment Diesel Generator Market Revenue
A pivotal factor propelling the expansion of the diesel generator market lies in the escalating need for reliable power backup solutions. With businesses and industries progressively relying on continuous and reliable power supply, diesel generators emerge as a reliable and indispensable source of backup power during instances of grid failures and outages.
The increasing need for uninterrupted power solutions is particularly evident in various industries such as healthcare, data centers, and manufacturing. These sectors face significant financial consequences and potential risks to lives in the event of power disruptions. The importance of diesel generators in strengthening the resilience of different sectors against the negative impacts of power interruptions cannot be understated.
Rapid Industrialization and Urbanization in APAC to Boost Diesel Generator Market Development
Asia Pacific is estimated to lead the diesel generator market in the forthcoming years, accounting for a valuation of USD 8.52 billion by 2030. The surge in demand for reliable power sources, such as diesel generators, in order to sustain vital infrastructure and manufacturing operations is propelling this growth. Additionally, numerous countries within the region face frequent power disruptions and an unreliable electricity grid infrastructure, contributing to the necessity of diesel generators as indispensable solutions to guarantee uninterrupted power supply to both commercial establishments and residential areas.
Moreover, the region experiences significant growth in construction and infrastructure initiatives, encompassing the expansion of data centers, healthcare facilities, and telecommunication networks. These ventures necessitate dependable backup power options, which is impelling the demand for diesel generators. Moreover, the Asia Pacific area is increasingly prioritizing environmental sustainability and regulatory adherence, which has propelled the advancement of cleaner and more efficient technologies for diesel generators. This development aims to fulfill energy requirements while complying with emissions standards.
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Key Points from TOC:
Chapter 1 Introduction of the Global Diesel Generator Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
Chapter 2 Executive Summary
Chapter 3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
Chapter 4 Global Diesel Generator Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.4 Pricing Analysis
4.5 Porter’s Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Diesel Generator Market, By Power Rating
Chapter 7 Global Diesel Generator Market, By Application
Chapter 8 Global Diesel Generator Market, By End User
Chapter 9 Global Diesel Generator Market, By Geography
Chapter 10 North America
Chapter 11 Europe
Chapter 12 Asia Pacific
Chapter 13 Middle East & Africa
Chapter 14 Latin America
Chapter 15 Global Diesel Generator Market Competitive Landscape
15.1 Overview
15.2 Key Developments
15.3 Key Strategic Developments
15.4 Company Market Ranking
15.5 Regional Footprint
15.6 Industry Footprint
Chapter 16 Company Profiles
16.1 Caterpillar
16.1.1 Key Facts
16.1.2 Financial Overview
16.1.3 Device Benchmarking
16.1.4 Recent Developments
16.1.5 Winning Imperatives
16.1.6 Current Focus & Strategies
16.1.7 Threat from competition
16.1.8 SWOT Analysis
16.2 Aggreko
16.2.1 Key Facts
16.2.2 Financial Overview
16.2.3 Device Benchmarking
16.2.4 Recent Developments
16.2.5 Winning Imperatives
16.2.6 Current Focus & Strategies
16.2.7 Threat from competition
16.2.8 SWOT Analysis
16.3 Cummins Inc.
16.3.1 Key Facts
16.3.2 Financial Overview
16.3.3 Device Benchmarking
16.3.4 Recent Developments
16.3.5 Winning Imperatives
16.3.6 Current Focus & Strategies
16.3.7 Threat from competition
16.3.8 SWOT Analysis
16.4 Wärtsilä
16.4.1 Key Facts
16.4.2 Financial Overview
16.4.3 Device Benchmarking
16.4.4 Recent Developments
16.4.5 Winning Imperatives
16.4.6 Current Focus & Strategies
16.4.7 Threat from competition
16.4.8 SWOT Analysis
16.5 Kohler
16.5.1 Key Facts
16.5.2 Financial Overview
16.5.3 Device Benchmarking
16.5.4 Recent Developments
16.5.5 Winning Imperatives
16.5.6 Current Focus & Strategies
16.5.7 Threat from competition
16.5.8 SWOT Analysis
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