How Big is the Diesel Generator Market ? :
IMARC Group’s latest report, titled “Diesel Generator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the diesel generator market report. The report also includes competitor and regional analysis, and contemporary advancements in the market. the global diesel generator market size reached US$ 16.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.7% during 2023-2028.
What is Diesel Generator and Uses ? :
Diesel generator refers to a type of electrical generator that converts mechanical energy into electrical energy by using a diesel engine. The diesel generator functions by using a piston to compress air and fuel in a cylinder, and when ignited, creates a controlled explosion that drives the piston and generates mechanical energy which is subsequently converted into electrical energy. Diesel generators have a wide range of power outputs, are highly efficient with low fuel consumption, and highly durable. Diesel generators can provide backup power during outages and supporting critical operations. Furthermore, they can also supply power to remote/off-grid locations and serve as a primary power source in areas with unstable grids.
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Who are the key Players Operating in the Industry ? :
The competitive landscape of the industry has also been examined along with the profiles of the key players being,
- Aksa Power Generation
- Atlas Copco AB
- Briggs & Stratton Corporation
- Caterpillar Inc
- Cummins Inc
- Generac Holdings Inc
- Kirloskar Electric Company Limited
- Kohler Co
- Mitsubishi Heavy Industries Ltd
- MTU Onsite Energy (Rolls-Royce plc)
- Wartsila Corporation
- Yanmar Co. Ltd
What are the Growth Prospects and Trends in the Diesel Generator Industry ? :
The global market is majorly driven by the escalating demand for reliable power supply, particularly in the merging economies. This can be attributed to the rising energy consumption levels across the globe, resulting in a higher demand for uninterrupted power supply. In line with this, the rising adoption of mobile generators in numerous end-use industries such as construction, mining, and oil and gas is also providing an impetus to the market.
Moreover, the rising need for standby power sources in critical facilities including hospitals and data centers is resulting in a higher product uptake among the masses. The market is further propelled by continual technological advancements, such as the development of hybrid diesel-electric generators with lower emissions and greater fuel efficiency. Some of the other factors contributing to the market include rapid urbanization, rising environmental concerns, inflating disposable income levels and extensive research and development (R&D) activities.
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Key Market Segmentation:
Capacity Insights:
- 0-100 kVA
- 100-350 kVA
- 350-1000 kVA
- Above 1000 kVA
Application Insights:
- Standby Backup Power
- Prime Power
- Peak Shaving Power
Mobility Insights:
- Stationary
- Portable
End User Insights:
- Residential
- Commercial
- Industrial
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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