The global market for diesel generator can expect to attain a growth rate of 5.39% during the forecast period (2017-2025), reports Market Research Future (MRFR).
Market Boosters and Top Challenges
Diesel generator can be described as a compact machine that is used to transform mechanical energy into electrical energy. The generators uses diesel as a fuel for combustion. This process assists the generator in starting and rotating the shaft and then generating electricity. Diesel generator is used to supply electricity during brownouts, cuts, or any type of interruptions to the primary power supply, generally in the commercial and industrial sectors.
Surging use of portable diesel generators, mostly in home applications to generate electrical energy for sump pumps, lighting, medical equipment and refrigerators & air conditioners can give rise to ample opportunities for the market in the following years.
Fast-paced industrialization across the globe happens to be one of the chief factors inducing the growth of the diesel generator market. Increasing number of industrial activities like oil and gas exploration, railways and mining that demand heavy duty generators for operation also add to the market strength. Rising applications in a variety of industry verticals can lead the market to greater heights during the review period.
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Latest trends in the Diesel Generator Market
Quickly rising industrialization around the world has led to increase in the number of industrial activities like oil and gas exploration, railways and mining. Diesel generators have noted high demand to cater to the rising energy demand in small and medium sized offices as well as restaurants, particularly in regions like Asia Pacific. Such regions generally face issues like unsteady power supply, which has given way to the surge in the demand for diesel generators.
Diesel Generator Industry Segmentation:
The worldwide market for diesel generator has been studied extensively in the MRFR report, keeping in mind the primary segments of power rating, portability and end use.
Depending on the power rating, the global diesel generator market segments are 375 KVA–1000 KVA and more than 1000 KVA.
Portability-based market segments are stationary and portable.
Given the end-use segment, the global diesel generator market covers commercial, agriculture and industrial.
All the latest trends as well as the growth opportunities in the diesel generator market has been analyzed in the report, considering the main regions of Europe, Middle East & Africa (MEA), North America, South America and Asia Pacific (APAC).
APAC has emerged as the strongest contender in the worldwide diesel generator market, on account of the mounting demand for continuous power supply coupled with the surging number of oil & gas activities in recent years. China has been identified as one of the most profitable markets for diesel generator in the region. Apart from this, soaring demand for steady power supply in the construction sector also drives the market growth in countries like India. Recent reports reveal that in the year 2019, the Government in India made considerable investments in the development of the infrastructure.
Africa and the South America markets for diesel generator have observed stunning growth in recent years, thanks to the surge in urbanization as well as industrialization. These factors have led to growth in the demand for steady and ample electricity supply. These markets are also triggered by the rising number of power outages along with power failure, STRONG demand for interminable and dependable power supply combined with the rising use of hybrid renewable energy systems.
The prominent vendors in the worldwide market for diesel generator include Caterpillar (US), Cummins Inc (US), Greaves Cotton Limited (India), Kirloskar Electric Company (India), Rolls-Royce plc (UK), Mitsubishi Heavy Industries Ltd (Japan), Denyo Co Ltd (Japan), Wärtsilä (Finland), Ashok Leyland (India), to name a few.
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