Top Facts You Didn’t Know About Diesel Generator market & Impact of COVID-19

Posted by Mrudula Karmarkar on July 13th, 2022

The global diesel generator market size is expected to reach USD 38.53 billion by 2030, escalating at a compound annual growth rate (CAGR) of 8.5% during the forecast period, according to a new report by Grand View Research, Inc. Proliferating demand for emergency power backup and stand-alone power generation systems across several end-use industries including manufacturing & construction, telecom, chemical, marine, oil & gas, healthcare, and others are likely to strengthen the market growth during the forecast period

Rapid industrialization, infrastructure development, and continuous population growth are among the major factors driving global power consumption. Rising penetration of electronic device load across various commercial scale structures such as data centers has resulted in the higher deployment of diesel generators in order to prevent disruption of daily business activities and provide uninterrupted electricity supply during sudden power outages.

Diesel generator set manufacturers adhere to several regulations and compliances regarding the safety, design, and installation of the system. For instance, the Gen-set should be designed in facilities certified to ISO 9001 and be manufactured in facilities certified to ISO 9001 or ISO 9002, with the prototype test program authenticating the performance reliability of the gen-set design. Certifications from leading organizations such as the U.S. Environmental Protection Agency (EPA), CSA group, Underwriters Laboratories, and International Building Code are expected to enhance the product marketability over the forecast period.

Industry participants are continuously focusing on finding the next-generation diesel generators due to strict regulations. These generators have automatic voltage regulators and built-in electronic governors that automatically control the generator engine speed as needed, thereby making the diesel gen-sets more energy-efficient. Additional features such as remote monitoring of the generator set are expected to boost product sustainability during the forecast period.

The increasing demand for energy across the globe outstrips the supply. Factors such as continuous population growth, infrastructure development, and rapid industrialization in emerging economies are pacing the demand for power. Diesel generators have numerous advantages such as low operating costs and better fuel efficiency. Thus, they are much popular in developing regions, especially in the Asia Pacific region. Along with its advantages, it had many other drawbacks which include noise pollution and the emission of hazardous gases. The World Nuclear Association has projected that the electricity requirement is expected to double the current consumption. According to the U.S. Department of Energy, solar energy will be the most abundant energy source available.

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Diesel Generator Market Report Highlights

  • Commercial segment of the market is anticipated to propel at a CAGR of 9.0% from 2022 to 2030 owning to wide application base including data centers, educational institutions, government centers, and other such facilities.
  • Medium power generator segment occupied a significant revenue share in 2021 owing to its application across several industries including small-scale industries, the telecom sector, petrol stations, and commercial complexes.
  • The market in the Asia Pacific is expected to grow at the fastest CAGR owing to rising power demand from developing economies such as China and India.
  • AKSA power generation company, Atlas Copco AB, Caterpillar, Cummins Inc., Doosan Portable Power, Generac Power System Inc., Honda India Power Products Ltd., Kohler Co., Rolls-Royce plc, are some of the prominent players in the diesel generator market.

Grand View Research has segmented the diesel generator market based on power rating, application:

Diesel Generator Power Rating Outlook (Revenue, USD Million, 2022 - 2030)

  • Low Power
  • Medium Power
  • High Power

Diesel Generator Application Outlook (Revenue, USD Million, 2022 - 2030)

  • Industrial
  • Commercial
  • Residential

List of Key Players in Diesel Generator Market

  • AKSA power generation company
  • Atlas Copco AB
  • Caterpillar
  • Cummins Inc.
  • Doosan Portable Power
  • Generac Power System Inc.
  • Honda India Power Products Ltd.
  • Kohler Co.
  • Rolls-Royce plc
  • Wartsila Corporation

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Mrudula Karmarkar

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Mrudula Karmarkar
Joined: March 30th, 2020
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