The Diesel Generator Market is expected to reach the value of USD 16.90 Billion by the end of 2027
Diesel Generators Market is expected to grow from around USD 13.53 Billion in 2021 and is projected to reach USD 16.90 Billion by 2027, growing at a CAGR of 5.9%
HYDERABAD, TELANAGANA, INDIA, November 18, 2022 /EINPresswire.com/ — According to the research report published by Market Data Forecast, the diesel generator market The size was valued at USD 13.53 billion in 2021, and it is estimated to reach USD 16.90 billion by 2027, with a recorded CAGR of 5.9% during the forecast period.
The diesel generator uses a diesel engine and an electric generator to generate electric power. The diesel generator is a special case of a motor generator set. The size of the diesel generator is crucial to minimize low loads or power shortages. Diesel generators are machines that generate electricity by burning diesel fuel. Diesel generators convert part of the chemical energy contained in diesel fuel into mechanical energy by combustion. This mechanical energy then turns a crank to generate electricity. There are three types of diesel generators such as portable diesel generators, inverter diesel generators and standby diesel generators.
Request a [email protected]
The growing industrial sector such as mining, manufacturing, agriculture and construction sector is driving the market revenue. The growing demand for diesel generators for data centers is the main driving force behind the market. Growing demand for continuous and safe power supply is driving the growth of the market. Increasing investment in infrastructure to stimulate market growth.
Low operating costs and low investments are the major factors limiting the growth of the market.
Diesel Generators Market – By Application:
Main or continuous power
Based on Application: Standby Power segment was recorded as the largest market share in the diesel generator market in 2022 and it is expected to grow significantly over the forecast period. Backup power is also called vampire power. Standby diesel generator is used for standby power for short duration without built-in overload capabilities in generator sets and hence it is extremely important in the diesel generator market.
Diesel Generator Market – By Rated Power:
Above 1000 kVA
Based on rated power: 350-1000 kVA held the largest diesel generator market share in 2022 and it is expected to grow significantly over the forecast period. The segment is used in a wide range of applications in telecommunications, healthcare, oil & gas, and data center industries to drive the growth of the market.
Diesel Generators Market – By End User:
End User Based: Commercial segment held the largest market share in the diesel generator market in 2022 and it is expected to grow significantly over the forecast period. The business sectors are data centers, educational institutions, government centers, healthcare, hospitality, telecommunications, agriculture, banking, hospitality, and others to drive the growth of the market.
Diesel Generator Market – By Portability:
Based on Portability: Stationary generator segment held the largest market share in the diesel generator market in 2022 and it is expected to grow significantly over the forecast period. Stationary generators start automatically in the event of a power failure. Rising demand from industrial sectors such as manufacturing, mining, agriculture, and construction is driving the growth of the market.
Request customization: https://www.marketdataforecast.com/market-reports/diesel-generator-market/customization
Asia-Pacific is the largest growing region in the diesel generator market and is expected to witness significant growth over the forecast period. Asia-Pacific has wide availability in countries like China, Japan, India, Indonesia, and South Korea. The reason behind this dominance of the region is the growth and popularity of the diesel generator market and the growing importance of the construction, healthcare and IT sectors, which is likely to create growth in the market of the region. Growing demand for a gap between electricity demand and supply is driving the growth of the market in the region. China is the largest market supporting the growth of diesel generator. There has been rapid growth in the diesel generator market in the region, which has resulted in growth in the global market.
North America is expected to witness lucrative growth in the diesel generator market.
Latest industry developments:
In August 2021, Caterpillar announced that Microsoft would likely use Cat diesel generator sets to provide backup power solutions at its data centers in Sweden. Cat C175-20 and C18 generator sets provide complete backup power solutions in the early stage of data centers.
In July 2021 – With the recent decommissioning of the aging Grise Fiord diesel power plant, Qulliq Energy Corp. accelerated the replacement of community diesel generators that have exceeded their lifespan. The new diesel generators have improved the reliability of the community’s power supply.
In October 2021, Cummins Inc. announced the new SD 20 diesel generator set for commercial mobile applications. The SD 20 is well suited for a variety of trailer and vehicle applications such as disaster relief, mobile medical centers, mobile command centers, ambulances, food trucks and utilities.