South America & Africa Diesel Generator Market Size Trends, Analysis to 2023

Posted by Anvi on January 29th, 2020

Market Insight

According to Market Research Future, South America & Africa Diesel Generator Market Size is anticipated to expand with the CAGR of approximately 9.38% during the forecast period as it is marked with overall dependency of the energy consumers in South America & Africa for uninterrupted & reliable power through diesel generators.

Market Drivers & Trends

The diesel generators in South America & Africa provide standby, prime & continuous power output, where the end user is facing frequent power outages. Thus, such need of emergency power backup is thriving the market to explore wisely with time and earn maximum valuation of the coming years. Diesel generators for South America & Africa regions are further poised to nurture at a substantial rate owing to growing urbanization & industrialization that has resulted in demand for excess and uninterrupted electricity supply. The diesel generators offer prime, standby and continuous power output to residential, commercial & industrial sector which makes it a reliable source of power generation in emergency situation and at remote location. These factors are thus promoting the market to proliferate substantially over the forecast period.

South America & Africa regions have most of the countries that are in their developing stage or are under-developed and are highly reliable on standby power generation or non-conventional methods of power generation. All these factors majorly result in power outage in these regions. Thus, most of the end users are heading towards the utilization of diesel powered generator as it provides continuous, prime and standby power to the end users such as industries, hospitals, construction sites, remote & discrete sites, commercial and residential. These factors are also contributing largely to the market’s growth, which would also take to expand in the forecast period.

On the other hand, the growing demand for diesel generators in African & South American region is also due to the rise in power outages and high average price of power produced through conventional power plants. These make the consumers to opt for an interminable & dependable power supply as diesel generators are more fuel efficient than other fuel type generators with longer life span. All these major factors are driving the demand of diesel generators in South America & Africa.

South America & Africa Diesel Generator Market Segmentation

The market for South America & Africa Diesel generator market globally has been segmented into product type, material type, storage and application type.

By the mode of product type, the global market has been segmented into redox and hybrid.

By the mode of material type, the global market includes vanadium and zinc-bromine.

By the mode of storage type, the global market includes compact and large scale.

By the mode of application, the global market includes industrial & commercial, defense, utilities, and others.

Regional Outlook

Regionally, the South America & Africa Diesel Generator Market is growing tremendously in the prime regions of North America, Europe, APAC region and the Middle East & Africa.

As per the study, Colombia is hugely investing in developing hybrid renewable energy system to fulfill the rising demand for electricity. According to World Bank, the national electrification rate of Columbia in 2016 was 98% with about 90% rural electrification rate. Also industrial sector contributed 34.00% of the total GDP. The existing scenario in the states of Colombia is the upward demand for electricity, which can be fulfilled through hybrid renewable energy systems.

On the other hand, Nigeria is one of the biggest economies in Africa that had a GDP of 405,082.7 million USD, in 2016. Nigeria’s growth is severely restrained by an inadequate supply of reliable electricity. According to World Bank, the national electrification rate of Nigeria in 2016 was 45% with 36% rural electrification rate. Also industrial sector contributed 19.4% of the total GDP. But now, Nigeria is receiving heavy aid & investment for the development of hybrid renewable energy systems and micro-grids. It is now forecast that diesel generator market in Nigeria will observe an extensive growth in forecast period.

Key Players

The well-known players of South America & Africa diesel generator market are listed as Caterpillar Inc., Cummins Inc., Generac Holdings Inc., Mitsubishi Heavy Industries Engine & Turbocharger, Ltd., AKSA Power Generation, Kohler Co., Rolls-Royce Power Systems AG, Wuxi Kipor Power Co. Ltd, Aggreko PLC, MAN Diesel & Turbo, General Electric Company and Wärtsilä.

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