Diesel Genset Market Size, Share, Growth, and Industry Analysis, By Type (<60 Kw, 60-300 Kw and >300 Kw), By Application (Land Diesel Genset and Marine Diesel Genset), Regional Forecast To 2032

Diesel Genset Market Report Overview

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The global Diesel Genset Market size was USD 21630 million in 2021 and is expected to reach USD 37384.05 million in 2032, exhibiting a CAGR of 5.1%. during the forecast period.

The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The global diesel genset is also known as, diesel generator. It is a device that converts chemical energy into electrical energy with the help of devices such as diesel engine and electric generator. It can function for several hours to several weeks or till the grid power is recovered. The efficiency of diesel genset is between 30% and 50%, and is the combination of diesel engine and alternator efficiencies. The key advantages of this include prolonged durability, economic nature than other generators, high efficiency, and quick start-up time. However, the use of this genset leads to environmental pollution requires high maintenance & operating cost.

The global gun diesel genset market progression can be credited to the upsurge in the demand for continuous & stable power supply and rapid industrialization & urbanization in the developing economies. However, implementation of stringent government regulations toward greenhouse gases emissions from this machinery and rapid development of the renewable energy sector are the key factors hampering the growth of the market. On the contrary, increase in technological advancements in it and increase in demand for energy from various end-use industries are anticipated to provide lucrative growth opportunities for the key players to maintain the position in the market in the upcoming years.

COVID-19 Impact: Pandemic led to shutdown of commercial and industrial establishments

The effects of the COVID-19 pandemic are already being felt on a global level, the diesel genset market was significantly influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. The pandemic had a significant impact on the machinery and equipment. The pandemic has led to the shutdown of commercial and industrial establishments in order to curtail the spread of the disease which has resulted negatively. The rising demand for stationary diesel genset category based on mobility is projected to drive the market.

Latest Trends:

"Rising demand from emerging economies to drive market trends"

Emerging economies such as India, China, Brazil, and others have been experiencing rapid economic growth and industrialization in recent years. This growth has led to an increase in demand for reliable and uninterrupted power supply, which has resulted in a rising demand for this machinery in these regions. This are often used in emerging economies as a primary source of power for off-grid or remote locations, where grid power may be unreliable or unavailable. They are also used as a backup power source for critical applications such as data centers, hospitals, and manufacturing facilities, where even a brief power interruption can have significant consequences.

Diesel Genset Market Segmentation

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• By Type

Based on type, the global diesel genset market is divided into <60 Kw, 60-300 Kw and >300 Kw.

• By Application

Based on application, the market is divided into land diesel genset and marine diesel genset.

Driving Factors

"Increasing demand for reliable backup power to cater market expansion"

As mentioned earlier, there is a growing demand for reliable backup power due to the increasing frequency of power outages, natural disasters, and other emergencies. This machinery genset are seen as a reliable source of backup power for residential, commercial, and industrial applications. The growing demand for industrial products and services is driving the need for reliable backup power sources. Industries such as manufacturing, construction, and transportation rely on this generator to provide backup power in case of outages.

"Growing construction industry to surge the equipment demand in the market"

The growing construction industry is the major driving factor. The construction industry requires large amount of power for various construction activities such as drilling, concrete mixing, and crane operations. It is widely used to provide power during construction activities.

Construction projects often take place in remote locations, such as mines or oil fields. These areas may not have access to the electrical grid, making this machinery the only viable option for providing power.

RESTRAINING FACTORS

"Fluctuating fuel prices and increasing adoption of natural gas to hinder market progress"

Diesel fuel prices can be volatile and subject to sudden price increases, which can impact the affordability of this machinery. This can make it challenging for end-users to justify the cost of owning and operating this machinery, particularly for applications with low utilization rates. Natural gas generators are becoming increasingly popular as a cleaner alternative to this machinery. They emit fewer pollutants and greenhouse gases, and are often more cost-effective over the long term. This is limiting the growth of the market, particularly in regions where natural gas is readily available.

Diesel Genset Market Regional Insight

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"Asia-Pacific to dominate the market due to the growing electricity demand-supply gap"

Asia-Pacific captured the largest share. The rising number of manufacturing facilities and infrastructure projects, rising electricity demand-supply gap, and rapid development of commercial office spaces in China are anticipated to provide a boost to the industry landscape across the region. In Asia Pacific, this sets are predominantly used for backup as the region has a moderately developed power infrastructure that supplies low-cost electricity from the utility grid. The demand pattern for this sets depends on different factors such as the country’s power infrastructure, emission norms, and purchasing power of customers.

North America is likely to hold the second-largest share in the market. The U.S. occupying a dominant revenue contributor position across the region. Continuously developing infrastructure of data centers and other commercial markets along with the growing vulnerability of power grids to weather-based outages has led to strengthening demand for reliable backup power solutions, in turn stimulating the demand for this machinery across the region.

Key Industry Players

"Market Players to Boost Market Growth by adopting various advanced strategies"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Caterpillar (U.S.)
• Kohler (U.S.)
• Cummins (U.S.)
• MTU (Germany)
• Volvo (Sweden)
• MHI (Tokyo, Japan)
• Briggs Stratton (U.S.)
• Kipor Power (China)
• Generac (U.S.)
• Dresser_Rand (U.S.)
• MultiQuip (California, U.S.)

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.