Global Diesel Generator Market – Overview
A report on the global Diesel Generator Market 2020 has hit stands after a sudden strike of novel coronavirus globally. This study by Market Research Future is based on different aspects of growth rate, revenue, leading players, regions, and forecast. The study reveals that the overall market would inflate rapidly at a higher pace, which is going to happen to post the pandemic owing to the invention of the new dynamism, which is making rapid progress in the market’s growth, mainly from the years 2017-2025.
A diesel generator is a compact and robust machine, which is used for converting mechanical energy to electrical energy. It uses diesel as fuel for combustion, which is injected into the combustion chamber under high pressure. This helps the generator start and rotate the shaft, producing electricity. It is used for supplying the electrical power during power cuts, blackouts, or any other interruption to the main power supply, mostly in the industrial and commercial sectors.
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A continuous power supply is the baseload electricity required to run a predefined set of electrical equipment. The baseload electricity supply has to be maintained at all times and is the minimum amount of electricity an end user’s facility will need to successfully operate the equipment and systems at the facility. Many end-user facilities generate their baseload power supply through diesel generators due to various factors such as the inaccessible grid electricity and the intermittent nature of grid-connected electricity. For instance, end-users who use diesel generators for oil & gas and mining applications mostly operate in remote areas and generate their baseload electricity through these generators.
COVID-19 Impact on Diesel Generator Market at: https://www.marketresearchfuture.com/report/covid-19-impact-diesel-generator-market
The exponential infrastructure development, coupled with mounting urbanization, is predicted to augur well for the global diesel generator market. In the case of point, back in February 2019, a pact was signed between France’s Naval Group and Australia of a value USD 35 billion to build 12 attack class submarines for the Australian Navy. The construction is programmed to start in late 2023, and suppliers for important submarine components such as diesel generator, primary motor, batteries, switchboard, and weapon discharge system will be announced soon.
As per claims from the United Nation’s report that was released in July 2019, where it is stated that the world’s population is projected to rise by 2 billion in the next 30 years, which will be from 7.7 billion presently to 9.7 billion in 2050. Over 90% of the population expansion will come from developing countries, which on average, have a low electrification rate. The extensive population growth will predictably swell the power shortfall, which ultimately provides healthy growth for the industry.
Furthermore, urbanization has also been a critical factor for the growth of the construction activities in developing countries. The top-grossing economies such as India and China are rising the demand for houses, as more people are moving to metro cities. Moreover, another factor, such as the Indian government’s ambitious project, “Housing for all by 2022,” also projects to bode the construction sector. On the other side, factors such as road infrastructure, investment in electrification projects, metro, and railway network expansion might offer a sufficient market size of diesel generator in the coming years.
Leading players in the global diesel generator market include Cummins Inc., Caterpillar, Wartsila, Rolls-Royce plc, Mitsubishi Heavy Industries Ltd., Ashok Leyland, Greaves Cotton Limited, Denyo Co. Ltd., and Kirloskar Electric Company.
The global Diesel Generator Industry is segmented on the basis of power rating, portability, end use, and region.
On the basis of power rating, the global diesel generator market is segmented into 375-1000 KVA and more than 1000 KVA.
By portability, the global diesel generator market is segmented into stationary and portable. The portable segment of the market has been growing at a steady growth rate over the last few years and is likely to be a major segment of the global diesel generator market over the forecast period.
By end use, the global diesel generator market is segmented into industrial, commercial, and agriculture. The industrial segment holds the largest share in the global diesel generator market. Driven by the growing demand for diesel generator in the oil and gas industry, the industrial segment is likely to be the major consumer of diesel generators over the forecast period.
Geographically, the global diesel generator market is studied among five major regions, namely North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Among these regions, Asia Pacific is an outstanding region owing to the mounting demand for uninterrupted power supply and the expanding oil & gas activities in the region. In India, Reliance Industries announced the county’s most significant foreign direct investment (FDI) deal with Saudi Aramco (Saudi Arabia) to pick a 20% stake in its oil-to-chemicals (OTC) business.
For this purpose, Saudi Aramco invested USD 75 billion, and resultantly the deal has surged diesel generators demand to be used for continuous power supply for refinery and oil to chemical conversion activities mainly in India. Besides, as per the BP Statistical Review of World Energy 2019, the oil production in Australia augmented from 348 thousand barrels per day, which was in 2017 to 356 thousand barrels per day till the year 2018, with a growth rate of 2.2% annually. Such factors are projected to boost the demand for diesel generators in the Asia Pacific in the following timeframe.
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