Diesel Generator Market Estimate to Hit US$ 37.1 Billion by 2027
Global Diesel Generator Market projected to grow at a CAGR of 9.8% from 2020 to 2027
Increasing technological advancements along with increase in demand for energy from the various end use industries are the key trends in the diesel generator market.”
WILMINGTON, DE, UNITED STATES, December 18, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, 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.— Allied Market Research
A diesel generator is a combination of a diesel engine and an electric generator (often an alternator) that converts diesel fuel into mechanical energy, which is then transformed into electrical energy. Diesel generators are widely used for backup power, primary power generation in remote areas, and in various industrial applications due to their reliability and efficiency.
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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.
The key players operating and profiled in the global diesel generator industry 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.
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.
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.
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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.
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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