Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium Global Research on the diesel genset market provides an in-depth analysis of segments and sub-segments in the global as well as regional diesel genset market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional diesel genset market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global diesel genset market. According to the report, the global diesel genset market is projected to grow at a CAGR of over 8% over the forecast period of 2022-2028.
The global diesel genset market was valued at over USD 18 Billion in 2022 and is expected to reach about USD 30 Billion in 2028, with a CAGR of over 8% during the forecast period. Power outages cost a lot in today's corporate environment. People often believe that the power will remain on, but this isn't always the case. We had days when the electricity did go off for an arbitrary period of time. Diesel generators offer power backup and act as insurance for them, saving hundreds and millions of dollars in revenue lost each year due to power outages. Diesel generator utilization is essential to the mining sector. The main source of revenue in the United States comes from the mining sector, and using generators is a crucial component of that sector. Diesel generators are utilized to power many aspects of the mining sector with about 72% of the energy. A portable piece of machinery called a "genset" contains an engine and an energy-producing alternator or electric generator. Diesel gen-sets are utilized as a backup form of energy generation, typically when there is no power. This contains a diesel engine and an electric generator working together. If the electricity grid goes down, diesel generators are utilized both for simpler uses and as a backup power source when it is not connected to the grid. Such as for grid support, peak-loping, and export to the power grid.
The need for diesel generators is expected to rise globally, which might accelerate market expansion. The industrial sector is the one that needs a steady flow of electricity to run its various industrial processes. Electricity is necessary for the daily operations of this industry. Such organizations may incur losses as a result of one power outage. This generator set offers standby power and is offered in a variety of load-handling capabilities depending on the needs of the end customer. The need for diesel gen-sets, which fuel the market's expansion, is likely to rise as a small, medium, and big businesses continue to multiply. The analysis of the expanding uses for oil and gas, along with hydrocarbon discoveries and the exploitation of offshore wells, helps to meet the need for diesel generator sets. Leading government organizations have put into place a number of initiatives and regulations in a number of countries with the purpose of promoting the adoption of green technology while lowering dependency on fossil fuels, which could restrain the expansion of the diesel generator market. When it comes to the production of diesel generator sets, the cost and installation fees can be rather high. As a result, the market may be constrained due to high installation and maintenance costs as well as rising energy demand from various end-user sectors. The diesel generator market has chances for expansion due to technological advancement.
China is the largest market for diesel generators in the Asia-Pacific area. Expanding commercial office space demand, growing manufacturing facility growth, and widening electricity demand-supply mismatch this method has been widely adopted in the residential and commercial sectors, which boosts construction activity and creates a significant demand for low-power diesel genset at telecom towers. Diesel generator sets are mostly used by industrial, commercial, and residential users in China and India as backup power source. The country gains from the affordability and efficiency of the diesel generators industry as the demand for power backup devices rises. The market for diesel generator sets is expanding quickly across a number of industries, including telecommunications, infrastructure, information technology, and many IT-enabled services. The nation is home to numerous manufacturing facilities. Due to the abundance of natural resources, the Middle East and Africa have also seen significant expansion in the diesel generator business. As a result, the market will continue to expand because to the expanding residential, commercial, and industrial infrastructure and increasing manufacturing capacities. The area of Europe will have the most portion of this market in 2020. North America, on the other hand, was the second-largest market since it was home to important corporations and had advanced technology.
The report on the global diesel genset market covers segments such as type, application, and end-user. On the basis of type, the sub-markets include portable generator, standby generator, and inverter generator. On the basis of application, the sub-markets include standby backup power, prime power, and peak shaving power. On the basis of end-user, the sub-markets include commercial, industrial, and residential.
The report provides profiles of the companies in the market such as Caterpillar Inc., Cummins Inc., Deere & Company, HIMOINSA, FG Wilson, Yamaha Motor Co., Ltd., PR INDUSTRIAL s.r.l., Generac Power Systems, Inc., Kohler-SDMO, and General Electric.
The report provides deep insights into demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the diesel genset
market. Moreover, the study highlights current market trends and provides
forecasts from 2022-2028. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings insight into the
market share of the leading players.
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