Diesel Generator Global Market Report 2023
Major players in the diesel generator market are Atlas Copco, Caterpillar Inc., Cummins, FG Wilson, Generac, Kirloskar Electric Co Ltd., Kohler Co, SDMO, Briggs & Stratton, AKSA Power Generation, HIMOINSA SL, Pramac, Honda Siel Power Products Ltd.
New York, March 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Diesel Generator Global Market Report 2023" - https://www.reportlinker.com/p06318526/?utm_source=GNW
, Cooper Corp and Mahindra.
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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The diesel generator market is expected to grow to $35.25 billion in 2027 at a CAGR of 13.7%.
The diesel generator market consists of sales of portable generators, inverter generators, and standby generators.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The diesel generator is used to produce electric energy by using an electric generator with a diesel engine.It is mostly used for emergency power supply in case of an electric shutdown.
The primary fuel of a diesel generator is liquid fuel or natural gas.
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 main types of diesel generator are small diesel generator, medium diesel generator and large diesel generator.The small diesel generator are portable generators with a power of 0–75 kVA.
Small diesel generators are mostly air-cooled and provide a backup power source for mobile applications such as mining sites, farming requirements, and professional contractors.Diesel generators can be stationary or portable and offers power rating from below 75kVA, 75-375kVA, 375-750kVA and above 750kVA.
They are mostly used for standby backup power, peak shaving and other application by end-users such as industrial, commercial and residential.
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.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The diesel generator market research report is one of a series of new reports that provides diesel generator market statistics, including diesel generator industry global market size, regional shares, competitors with an diesel generator market share, detailed diesel generator market segments, market trends and opportunities, and any further data you may need to thrive in the diesel generator industry. This diesel generator market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06318526/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001