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Global Diesel Generator Market to Reach About USD 30.58 Billion by 2027, Driven by the Rapid Industrialisation

According to a new report by EMR titled, ‘Global Diesel Generator Market Report and Forecast 2022-2027’, the global market for diesel generator attained a value of about USD 19.16 billion in 2021. The industry is further expected to grow at a CAGR of 8.10% in the forecast period of 2022-2027 to reach a value of approximately USD 30.58 billion by 2027.

The Asia Pacific region holds a significant share of the diesel generator industry owing to the rapid industrialisation in the region. This can be attributed to the high prevalence of chronic power outages in developing regions, such as Bangladesh, Indonesia, and Vietnam, among others, which, in turn, is surging the demand for diesel generators in various sectors. Moreover, the extensive use of diesel generators in industrial applications in countries like India and China is augmenting the growth of the market. The rising deployment of diesel generators in industries like telecommunication and manufacturing, among others, is providing further impetus to the market growth.

Atlas Copco AB (STO: ATCO-A ), one of the leading companies in the market, expanded its QES portable diesel generator range up to 500kVA in January 2021. The company added four models, QES 250, QES 325, QES 400, and QES 500, to offer an efficient source of electrical power for the demanding worksite. The generator range is equipped with user-friendly Qc series controllers to provide power within two clicks and efficient operation. The generators offer corrosion-resistant and waterproof canopies to repel high liquids like heavy rainfall. They feature a sound attenuated steel enclosure, fuel-efficient power pack, and spillage-free frame with integrated forklift slots and beams for ease of transportation.  Moreover, the generator provides a constant power source in extreme conditions, which makes it suitable for the rental and construction sectors. The range also requires one-hour of maintenance every 500 operating hours while providing easy access during services. The development of such innovative diesel generators is surging their demand, which is expected to drive the market growth in upcoming years.

Market Analysis by Power Rating, Application, and Region:

  • The market, on the basis of power rating, can be divided into low power generator, medium power generator, and high power generator.
  • Based on application, the industry can be divided into commercial, industrial, and residential.
  • The regional markets for diesel generator include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing use of diesel generation for efficient power supply for digging and drilling in the oil and gas industry is driving the market growth.
  • The market is being aided by the increasing energy supply-demand gap in the utility sector, which, in turn, is surging the demand for diesel generators in commercial and industrial applications.
  • The durability, weather resistance, stability, and optimal power supply, among others, provided by diesel generators is increasing their demand in industrial applications, hence propelling the market growth.
  • The increasing research activities to develop innovative equipment that can trap greenhouse gases while boosting the fuel-efficiency of diesel generators is providing impetus to the growth of the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for diesel generator for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the power ratings, applications, and major regions of diesel generator.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global diesel generator market are Atlas Copco AB, Caterpillar Inc., Cummins Inc., Generac Holdings Inc., Honda Siel Power Products Ltd., and AKSA Power Generation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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