Diesel Generator Market Trends, Analysis and Forecasts, 2020 – 2030
Expansion of commercial and industrial infrastructure, increasing demand from off-grid applications, and increasing investment in product innovation & development are the key attributes complimenting the growth of global diesel generator market. A diesel generator, also known as diesel genset, generates electric power with the help of diesel engine and electric generator or alternators. Primarily used as an emergency power source, diesel generators are being increasingly used for peak-looping, as prime source of electricity in power grid absence regions, grid support, and other complex applications. The manufacturers are focusing on development of compact and efficient generators owing to increased demand for low power backup generators across the emerging countries. However, concerns over damage to environment due to emissions from diesel generators has led to the demand for generators powered by natural fuels, thereby hindering the growth of global diesel generator market. Though the power grid across the globe has expanded extensively during past decade, the demand surpasses supply across emerging countries, which is fueling the growth of the global diesel generator market.
Asia Pacific contributed the largest share to the global market in 2019 and is anticipated to be a dominating segment throughout the forecast period owing to expanding applications base across the leading countries. Increased investment in commercial and residential infrastructure development across emerging countries is anticipated to accelerate the growth of diesel generator market in coming years. Adoption of high power diesel generators as backup power sources across the expanding industrial sector in Asia is anticipated to contribute towards the growth of Asia Pacific diesel generator market during the forecast period. North America contributed a prominent share to the global market in 2019 and is anticipated to grow at a steady rate during the forecast period.
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The report titled “Diesel Generator Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global diesel generator market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market. For instance, Cummins Inc. generated a revenue of US$ 23,571 million in 2019 and business segment analysis of the company indicates that Distribution segment of the company dominated revenue in 2019.
The global diesel generator market is segmented based on power rating, application, end use, and geography. Based on power rating, the global diesel generator market is segmented into low power (<350 kVA), medium power (350kVA-1000kVA), and high power (>1000kVA). Based on application, the global diesel generator market is segmented into standby power, peak shaving, continuous power, and others. Based on end use, the global diesel generator market is segmented into residential, commercial, and industrial. Based on geography, the global diesel generator market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on diesel generator. Further, market share of prominent companies in the global diesel generator market would also be estimated. For instance, Cummins Inc. operates through five business segments namely Engine segment, Distribution segment, Component segment, Power System segment, and New Power segment. The diesel generators are delivered under Power System segment with revenue contribution of US$ 2,670 million in 2019.