Diesel Generator Market Is Expected To Ascend At A CAGR Of 6.8% By 2022: Grand View Research,Inc

Diesel Generator Market Is Expected To Ascend At A CAGR Of 6.8% By 2022: Grand View Research,Inc

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,Surging demand from residential, commercial, and industrial sectors is expected to drive the market. In addition, rising demand from various emerging economies is expected to propel demand for diesel generator markte over the forecast period.

According to a report, “ Diesel Generator Market Size, Share & Trends Analysis Report By Product (Low Power, Medium Power, High Power), By End Use (Residential, Commercial, Industrial), By Region, And Segment Forecasts, 2013 – 2022 ”, published by Grand View Research, Inc.,The global diesel generators market size is expected to reach USD 21.37 billion by 2022, registering a CAGR of 6.8% during the forecast years, according Grand View Research, Inc. Favorable growth of end-use industries such as oil and gas, telecom, mining, and retail is likely to augment demand for diesel gensets in the upcoming years. Diesel gensets offer a reliable and high-quality power, due to which they are widely used for emergency power backup, as well as stand-alone power generation systems.

Major companies in the diesel gensets market are continuously striving to find the next-generation diesel generators due to strict regulations. The next-generation generators have built-in electronic governors and automatic voltage regulators. These technologies automatically control the speed of generator engines as needed, thereby making the generators more energy-efficient. They also have some additional features such as remote monitoring of genset. These developments may help the sustainability of diesel gensets, thereby boosting the market growth.

Diesel gensets are segmented on the basis of power ratings such as low power (0-350 kVA), medium power (350-1000 kVA), and high power (above 1000 kVA). Low power gensets are mostly used in residential sector. They accounted for 49.0% of the global diesel generator market share in 2014; however, are expected to lose this share to medium and high power gensets over the forecast period. Rapid industrialization in emerging economies including India, China, and Brazil is expected to drive demand for medium and high-powered gensets.

U.S. diesel generators market

Further key findings from the study suggest:

  • The global diesel gensets market generated USD 12.65 billion in 2014 and will reach USD 21.37 billion by 2022

  • By product, low power gensets led the market and held 49.0% of the market in 2014

  • On the basis of end use, the commercial segment dominated the market with an estimated share of 31.0% in 2014

  • Key companies include Cummins Inc.; Generac Power Holdings, Inc.; FG Wilson Inc.; Himoinsa S.L.; Mitsubishi Heavy Industries, Ltd.; Caterpillar Inc.; and Atlas Copco AB

  • In December 2013, Neuson launched a new mobile generator model 256 kW/320kVA. This new model is compliant with EPA and California Air Resource Board standards.

Product Insights

Low power accounted for 49.0% of the global diesel generator market in 2014. Gensets with an output power of 0-350 kVA are considered as low-power gensets. Low-power diesel gensets make use of an internal combustion engines for distributed power production. As a source of emergency, these gensets are commonly used in various applications, however, they are facing increasing competition from natural gas generators in certain markets. They are mostly used in residential and commercial applications.

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High-power gensets are anticipated to witness the fastest growth during the forecast period. They are mostly used in the manufacturing sector. These generators also find application in some remote areas such as marine, where a continuous power supply is required, as direct grid power is not possible in most of the cases. Generally, high power gensets have capability of providing 1,000 kVA and above. Diesel-fueled high power gensets are cheaper than natural gas-fueled gensets, in terms of operating costs. Standby diesel gensets are used in industries such as agriculture and forestry.

Global diesel generators market

Regional Insights

Asia Pacific is considered as the largest regional market. Increasing per capita income of the emerging economies like India and China is boosting the region’s growth. Moreover, rapidly expanding manufacturing sector due to growing consumer demand is also anticipated to drive the regional market growth over the coming years. Japan, South Korea, China, and India are the major manufacturing hubs for the consumer electronics industry and are likely to expand further during the forecast period.

In Asia Pacific, diesel generator sets are predominantly used for back-up as the region has a moderately developed power infrastructure that supplies low-cost electricity from the utility grid. The demand pattern for diesel generator sets depends on different factors such as the country’s power infrastructure, emission norms, and purchasing power of customers.

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Grand View Research has segmented the global diesel generators market on the basis of product, end use, and region:

Diesel Generators Product Outlook (Revenue, USD Million, 2013 – 2022)

  • Low Power Generators

  • Medium Power Generators

  • High Power Generators

Diesel Generators End-use Outlook (Revenue, USD Million, 2013 – 2022)

  • Residential

  • Commercial

  • Industrial

Diesel Generators Regional Outlook (Revenue, USD Million, 2013 – 2022)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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