The global diesel generator market size was valued at $20.8 billion in 2019, and is projected to reach $37.1 billion by 2027, growing at a CAGR of 9.8% from 2020 to 2027. Increase in need for continuous & stable power supply and rapid industrialization & urbanization drive the growth of the global diesel generator market. However, stringent government regulations toward environmental pollution and rapid development in the renewable energy sector hinder the market growth. On the other hand, increase in investment on electrification of remote & rural area is anticipated to offer new opportunities in the coming years.
Significant development of the end-use industries such as oil & gas, telecom, mining, and healthcare is fueling the growth of the diesel generator market. In addition, increase in demand for diesel generator as a source of backup power from developing economies is driving the growth of the market, globally. However, implementation of stringent government regulations toward environmental pollution from diesel generators and rapid development of the renewable energy sector are the key factors hampering the growth of the global market in the upcoming years.
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Based on type, the large diesel generator (above 375 KVA) segment accounted for nearly three-fifths of the global diesel generator market in 2019, and is expected to maintain its lead status in terms of revenue throughout the forecast period. This is due to the increase in demand from large-scale industries such as mining, healthcare, commercial, manufacturing, and data centers. However, the medium diesel generator (75-375 KVA) is estimated to portray the highest CAGR of 10.1% from 2020 to 2027. Rapid growth in the infrastructure projects such as metro, road construction and others in the developing and developed economies across the globe drives the growth of the segment.
Based on application, the peak shaving segment contributed to the highest market share with more than four-fifth of the global diesel generator market in 2019, and is estimated to maintain its leadership position during the forecast period. This is attributed to the rise in power demand from highly dense populated area and from manufacturing sites. However, the standby backup power segment is estimated to generate the fastest CAGR of 10.0% from 2020 to 2027. This is attributed to the increase in demand for uninterruptible power supply and rise in growth of the construction & building sector.
On the basis of mobility, stationary segment holds the largest share, in terms of revenue, and is expected to maintain its dominance during the forecast period. This growth is attributed to the increase in demand from industrial sectors such as manufacturing, mining, agriculture, and construction.
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On the basis of cooling system, air cooled diesel generator segment holds the largest share, in terms of revenue, and is expected to maintain its dominance during the forecast period. This growth is attributed to the increase in demand from residential and commercial consumers such as apartments, complexes, malls, and others.
Based on region, Asia-Pacific accounted for the highest share based on revenue, holding for nearly two-fifth of the global diesel generator market in 2019, and is projected to maintain its dominant position throughout the forecast period. Moreover, the same region is estimated to generate the fastest CAGR of 10.0% from 2020 to 2027. This is attributed to the large number of key players and availability of the manufacturing facilities in Asia-Pacific region. Furthermore, North America region is anticipated to manifest the CAGR of 9.4% from 2020 to 2027.
The global diesel generator market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the report include Caterpillar, Inc., Cummins, Inc., Rolls Royce Plc., Kohler Co., Generac Power Systems, Inc., Southwest Products, Atlas Copco AB, FG Wilson, Denyo Co., Ltd., and Kirloskar Electric Company.
Covid-19 scenario:
- Several major market players have halted the production of diesel generator amid lockdown due to supply shortage of components required for manufacturing .
- The demand for diesel generator is likely to decrease during the Covid-19 pandemic. Various end-users of diesel generator such as industrial manufacturing units and building & construction industry across the globe have halted their operations amid lockdown.
- The demand for diesel generators from the healthcare sector is likely to surge to gain uninterrupted power supply to run ventilators, MRI, CT scan machines, and other electrically operated machines required for treatments of patients.