Diesel Generator Global Market Report 2023: Rise in Demand for Continuous and Stable Power Supplies Boosts Growth
Global Diesel Generator Market
Dublin, March 14, 2023 (GLOBE NEWSWIRE) -- The "Diesel Generator Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global diesel generator market grew from $18.82 billion in 2022 to $21.07 billion in 2023 at a compound annual growth rate (CAGR) of 11.9%. The diesel generator market is expected to grow to $35.25 billion in 2027 at a CAGR of 13.7%.
Asia-Pacific was the largest region in the diesel generator market in 2022. The regions covered in the diesel generator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rise in demand for continuous and stable power supply is expected to propel the growth of the diesel generator market. The continuous and uninterrupted power supply is essential to run the operations of any business/industry or for domestic purposes. Many regions still do not have a reliable power supply and face power cuts frequently, leading to interruptions and losses. Power outages can also result in heavy losses for industries.
The rise in demand for continuous and stable power supply will lead to significant demand for diesel generators as these provide continuous and uninterrupted electricity supply and help save a huge chunk of revenues yearly for industries.
For instance, according to the data from the Central Electricity Authority of India, all of India's power supply demand in January 2021 was 190,253 MW (megawatt) but the demand met was 189,644 MW, with a deficit rate of -0.3%. Similarly, January 2020 was 171,592 MW but the demand met was 170,492 MW, with a deficit rate of -0.6%. This gap between the demand and supply indicates that there is a continuous shortage/interruption in the power supply. Therefore, the rise in demand for continuous and stable power supply will drive the growth of the diesel generator market.
Technological advancement is a key trend gaining popularity in the diesel generator market. Major companies operating in the diesel generator market are focused on providing technologically advanced diesel generators to strengthen their market position. These companies are implementing next-generation advancements in diesel generator technologies such as noise reduction, emissions control systems, combustion chamber modifications, advanced power output, offsite monitoring systems, and others. These advanced diesel generators are offered to meet the industry demand for maximum output with reduced environmental impacts.
For instance, in August 2021, Cummins India Limited, an India-based diesel, and alternative fuel engines manufacturing company introduced QSK60 G23: 2500-2750 kVA Diesel Generator set made in India. It is an integrated power solution with an increased power density that minimizes downtime, reduces the cost of ownership, and offers reliable performance with a minimized carbon footprint. The company designed this diesel generator set to target the industry segments such as data centers and large-scale infrastructure projects such as airports and commercial realty in India with rising power requirements.
In March 2022, DTGen, a UK-based company offering diesel and gas generators announced the acquisition of Power Electrics Generators (PEG)'s, for an undisclosed amount. Under this deal, DTGen will acquire the sales and projects division of PEG and aims to expand its capacity and expertise and have national coverage across the UK, with locations in the Midlands, Scotland and also the south. Power Electrics Generators is a UK-based company offering a range of diesel generators, fuel and control systems, and enclosures and also provides diesel generator sales, hire, parts and service.
The countries covered in the diesel generator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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1) By Type: Small Diesel Generator; Medium Diesel Generator; Large Diesel Generator
2) By Mobility: Stationary; Portable
3) By Power Rating: Below 75kVA; 75-375kVA; 375-750kVA; Above 750kVA
4) By Application: Standby Backup Power; Peak Shaving; Other Applications
5) By End-User: Industrial; Commercial; Residential
No. of Pages
2023 - 2027
Estimated Market Value (USD) in 2023
Forecasted Market Value (USD) by 2027
Compound Annual Growth Rate
Key Topics Covered:
1. Executive Summary
2. Diesel Generator Market Characteristics
3. Diesel Generator Market Trends And Strategies
4. Diesel Generator Market - Macro Economic Scenario
5. Diesel Generator Market Size And Growth
6. Diesel Generator Market Segmentation
7. Diesel Generator Market Regional And Country Analysis
8. Asia-Pacific Diesel Generator Market
9. China Diesel Generator Market
10. India Diesel Generator Market
11. Japan Diesel Generator Market
12. Australia Diesel Generator Market
13. Indonesia Diesel Generator Market
14. South Korea Diesel Generator Market
15. Western Europe Diesel Generator Market
16. UK Diesel Generator Market
17. Germany Diesel Generator Market
18. France Diesel Generator Market
19. Eastern Europe Diesel Generator Market
20. Russia Diesel Generator Market
21. North America Diesel Generator Market
22. USA Diesel Generator Market
23. South America Diesel Generator Market
24. Brazil Diesel Generator Market
25. Middle East Diesel Generator Market
26. Africa Diesel Generator Market
27. Diesel Generator Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Diesel Generator Market
29. Diesel Generator Market Future Outlook and Potential Analysis
A selection of companies mentioned in this report includes
For more information about this report visit https://www.researchandmarkets.com/r/s8h1nk
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