Research Nester published a report titled “Diesel Genset Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global diesel genset market in terms of market segmentation by type, mobility, cooling system, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global diesel genset market is anticipated to grow with a CAGR of 6.50% during the forecast period, i.e., 2021-2030. The market is segmented by type into small (0-75 KVA), medium (75-375 KVA), and High (above 375 KVA), out of which, the small (0-75 KVA) segment is expected to garner the largest revenue of USD 14473.34 Million by the end of 2030, up from USD 7315.40 Million in the year 2020. Moreover, the segment, out of all other segments, is anticipated to grow with the highest CAGR of 7.06% during the forecast period.
The global diesel genset market registered a revenue of USD 16198.16 Million in the year 2020, and is further projected to touch USD 30406.18 Million by the end of 2030. Increasing urbanization, and rising industrialization, followed by the surge in demand for reliable electricity sources, are some of the major factors anticipated to drive the market growth. Additionally, the rising concern for power outages is also anticipated to contribute to the market growth in the coming years.
The global diesel genset market is segmented by region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in the Asia Pacific is projected to touch the largest revenue of USD 12557.8 Million by the end of 2030, up from a revenue of USD 5814.0 Million in the year 2020. Rise in the number of business organizations in the region, which is driving the need for reliable power sources, such as standby generators, is one of the major factors anticipated to contribute to the growth of the market in the coming years.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Demand for Reliable Power Sources to Drive the Market Growth
The World Bank, in one of its statistics, stated that around the globe, in a typical month, power outages in firms touched 6.19 numbers in the year 2020, up from 2.42 numbers in the year 2019.
With the increase in the number of business organizations worldwide, the dependence on electricity by these business organizations has increased massively. Power outages are known to hamper continuous operational processes of businesses and also significantly affect profitability. As a result, there is a growing need amongst businesses to opt for backup power sources, such as diesel generator sets, which is anticipated to drive the growth of the market in the coming years.
However, the growing concerns for environmental pollution caused due to diesel generators is expected to operate as key restraint to the growth of global diesel genset market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global diesel genset market which includes company profiling of Cummins, Inc., Caterpillar Inc., Generac Power Systems, Inc., Mitsubishi Heavy Industries, Ltd., Rolls-Royce Power Systems AG, AKSA POWER GENERATION (KAZANCI HOLDING), Cooper Corp., Briggs & Stratton Corporation, Atlas Copco, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global diesel genset market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.