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Press release content from MarketersMEDIA. The AP news staff was not involved in its creation.

Diesel Generator Market Expected to Exceed $37.1 Billion at 9.8% CAGR by 2027

July 5, 2021 GMT

Surge in need for stable & uninterrupted power supply drives the growth of the global diesel generator market. Asia-Pacific contributed the highest share in 2019, and will maintain its dominance throughout the forecast period.

Global diesel generator market size was valued at $20.8 billion in 2019, and is projected to reach $37.1 billion by 2027, growing at a CAGR of 9.8% from 2020 to 2027. Diesel generator is the equipment used to generate electricity from the mechanical energy, which is obtained from combustion of diesel or biodiesel. Diesel generator is equipped with an internal combustion engine, electric generator, mechanical coupling, voltage regulator, and speed regulator. This generator finds its application across various end-use industries such as in building & public infrastructure, data centers, transportation & logistic, and commercial infrastructures.

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Significant development of the end-use industries such as oil & gas, telecom, mining, and healthcare is fueling the growth of the diesel generator market. In addition, increase in demand for diesel generator as a source of backup power from developing economies is driving the growth of the market, globally. However, implementation of stringent government regulations toward environmental pollution from diesel generators and rapid development of the renewable energy sector are the key factors hampering the growth of the global market in the upcoming years.

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Depending on the type, large diesel generator segment held the highest market share of about 57.05% in 2019, and is expected to maintain its dominance during the forecast period. This is owing to increase in demand from large-scale industries such as mining, healthcare, commercial, manufacturing, and data centers.

On the basis of mobility, stationary segment holds the largest share, in terms of revenue, and is expected to maintain its dominance during the forecast period. This growth is attributed to the increase in demand from industrial sectors such as manufacturing, mining, agriculture, and construction.

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On the basis of cooling system, air cooled diesel generator segment holds the largest share, in terms of revenue, and is expected to maintain its dominance during the forecast period. This growth is attributed to the increase in demand from residential and commercial consumers such as apartments, complexes, malls, and others.
On the basis of application, peak shaving segment holds the largest share, in terms of revenue, and is expected to grow at a CAGR of 9.7%. This is owing to the increase in maximum power demand during highly dense populated area and from manufacturing operations (when production rate is high).

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On the basis of end use industry, commercial segment holds the largest share, in terms of revenue, and is expected to grow at a CAGR of 9.9%. This is attributed to the increase in demand from the commercial sites such as shops, complexes, malls, theatres, and other applications.

On the basis of the region, the market is analyzed across four major regions such as North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered the dominant share in 2019, and anticipated to maintain this trend during the forecast period. This is attributed to numerous factors such as presence of huge consumer base and the existence of key players in the region. Moreover, presence of the developing countries such as China, Japan, Australia, and India is anticipated to contribute toward the growth of the diesel generator market in Asia-Pacific.

The global diesel generator market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the report include

• Caterpillar, Inc.
• Cummins, Inc.
• Rolls Royce plc
• Kohler Co.
• Generac Power Systems, Inc.
• Southwest Products
• Atlas Copco AB
• FG Wilson
• Denyo Co. Ltd.
• Kirloskar Electric Company.

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Covid-19 scenario:

• Several major market players have halted the production of diesel generator amid lockdown due to supply shortage of components required for manufacturing .
• The demand for diesel generator is likely to decrease during the Covid-19 pandemic. Various end-users of diesel generator such as industrial manufacturing units and building & construction industry across the globe have halted their operations amid lockdown.
• The demand for diesel generators from the healthcare sector is likely to surge to gain uninterrupted power supply to run ventilators, MRI, CT scan machines, and other electrically operated machines required for treatments of patients.

Contact Info:
Name: David Correa
Email: Send Email
Organization: Allied Market Research
Website: https://www.alliedmarketresearch.com/

Source URL: https://marketersmedia.com/diesel-generator-market-expected-to-exceed-371-billion-at-98-cagr-by-2027/89033257

Source: MarketersMedia

Release ID: 89033257