Diesel Genset Market Size, Product Launch, Major Companies, Revenue Analysis, Till 2030

 

Diesel Genset Market Overview:

Diesel Genset Market is projected to be worth USD 30.81 billion, registering a CAGR of 8.70% during the forecast period (2022 - 2030), The market was valued at USD 17.23 billion in 2021.

The Diesel Genset Market is expected to continue its growth over the next few years. Despite government amends to reduce diesel genset use to minimize rising environmental concerns, the market demand is likely to remain robust. The increasing demand for reliable energy supply and growing incidences of power outages are estimated to create substantial market demand. 

Many industries need gensets for their remote power and transport power needs. Especially shipping sector and food & perishable goods transport industries require powered engines during inland and long-distance shipping to power refrigerated reefer containers to maintain safe temperatures. Gensets are also used in remote locations to provide a steady power supply and backup electricity.

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CAGR	8.70% CAGR (2022-2030)
Base Year	2021
Forecast Period	2022-2030
Historical Data	2019 & 2020
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Probability, Power Rating, Application and End-Use
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Industry Trends

The growing use of diesel generators across industrial, commercial, agriculture, and other purposes is a key driving force. Moreover, product standardization, enhanced research & innovation, and increased lab & field tests are significant market trends. Frequent power outages caused by natural calamities that can interrupt operations in industries, emergency services, homes, and commercial establishments, further escalate market growth.

On the other hand, strict government amends and restrictions imposed on power distribution companies mandating electricity supply 24x7 in metros and large cities to dissuade diesel genset use hamper the market growth. Nevertheless, huge R&D investments by industry players in developing efficient engines that can reduce harmful gases emitted from diesel generators would support the market growth in the coming years. 

Segments

The diesel generator market analysis is segmented into power rating, portability, end-use, and regions. The power rating segment is sub-segmented into 375KVA-1000KVA and above 1000 KVA. The portability segment is sub-segmented into portable and stationary. The end-user segment is sub-segmented into agriculture, commercial, and industrial. 

Regional Analysis

The Asia Pacific region dominates the global diesel generator market. The growing demand for a steady & reliable power supply from the growing number of data centers in the region fosters market sales. Moreover, the massive availability of diesel due to the rising oil & gas activities increases the region's diesel generator market share. Furthermore, a relaxed approach and lenient government regulations against gas emissions from diesel gensets positively impact the regional market's growth. 

On the other hand, diesel generator markets in North America and Europe demonstrate sluggish growth, mainly due to stringent fuel mapping regulations. However, optimized emissions in non-emissions regulated regions, including the USA, Canada, Europe, etc., support the market growth. Additionally, low-NOx optimized use in mission-critical segments like data centers and cost-efficiencies boosts the market value, enabling hassle-free deployment and delivering top-of-the-line fuel consumption regardless of the calibration. 

Key Players:

Key players involved in the market are Cummins Inc. (US), Caterpillar (US), Mitsubishi Heavy Industries, Ltd (Japan), Wärtsilä (Finland), Kohler Co. (US), Atlas Copco AB (Sweden), Rolls-Royce plc (UK), Yanmar Co. Ltd. (Japan), Kirloskar Electric Company (India), JS Power (UK), Generac Power Systems, Inc. (the US), General Electric (US), Ashok Leyland (India), Sutton Power Engineering (UK), and Denyo Co., Ltd (Japan), among others. 

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