The 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.
A diesel generator, also known as a diesel genset, is a combination of a diesel engine and an electric generator (alternator) used to produce electricity. Diesel generators are commonly used as backup power sources in areas with unreliable or no access to the electrical grid, as well as for various applications where a portable or standalone power supply is required. They are widely used in commercial, industrial, residential, and remote settings.
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Asia-Pacific region is expected to grow at the fastest rate, registering a CAGR of 10.0%, throughout the forecast period.
In 2019, Asia-Pacific dominated the diesel generator market with more than 35.0% of the share, in terms of revenue.
Industrial is the fastest-growing end user segment in the Asia-Pacific diesel generator market, expected to grow at a CAGR of 10.5% during 2020–2027.
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.
Other players operating in the value chain of the global diesel generator industry are Mitsubishi Heavy Industries, Volvo Penta, Wacker Neusan, Wuxi Kipor Power, Yanmar Co. Ltd., Wartsila Corporation, and APR Energy, LLC.
In 2019, large diesel generator segment accounted for majority of the share of the global diesel generator market, and is expected to maintain its lead throughout the forecast period.
In 2019, the stationary diesel generator segment accounted for about 73.8% of the share in the global diesel generator market, and is expected to maintain its dominance till the end of the forecast period.
In 2019, the air cooled diesel generator segment is accounted for 61.32% market share in the year 2019, and is anticipated to grow at a rate of 9.9% in terms of revenue, increasing global diesel generator market share.
Diesel generator is the equipment used to generate electricity from the mechanical energy, which is obtained from combustion of diesel or biodiesel.
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Diesel generators offer several advantages:
Reliability: Diesel engines are known for their durability and long operational lifespan, making diesel generators reliable sources of backup power.
Fuel Availability: Diesel fuel is widely available and can be stored for extended periods without deteriorating, ensuring a stable fuel supply for generators.
High Efficiency: Diesel generators tend to have higher fuel efficiency compared to gasoline generators.
Long Run Times: Diesel generators can run for longer durations on a single tank of fuel compared to some other types of generators.
Standalone Operation: Diesel generators can operate independently of the electrical grid, making them suitable for remote locations or areas with unreliable power supply.
Diesel generator is equipped with an internal combustion engine, electric generator, mechanical coupling, voltage regulator, and speed regulator. This generator finds its application across various end-use industries such as in building & public infrastructure, data centers, transportation & logistic, and commercial infrastructures.
Significant development of the end-use industries such as oil & gas, telecom, mining, and healthcare is fueling the diesel generator market growth.
Increase in demand for diesel generator as a source of backup power from developing economies is driving the growth of the market, globally.
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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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