CHICAGO, April 16, 2024 /PRNewswire/ -- Diesel
Generator Market is expected to reach USD
23.4 billion by 2029 from USD
17.9 billion in 2024 at a CAGR of 5.4% during the forecast
period according to a new report by
MarketsandMarkets™. Diesel generators are essential
because they provide reliable and constant source of electricity
during power outages and emergencies. The longevity and durability
of diesel generators allow them to operate over extended periods
ensuring continuous power supply during emergencies.
Browse in-depth TOC on "Diesel Generator
Market"
250 – Tables
100 – Figures
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Diesel Generator Market Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$17.9
billion
|
Estimated Value by
2029
|
$23.4
billion
|
Growth Rate
|
Poised to Grow at
a CAGR of 5.4%
|
Largest
Market
|
Asia Pacific
|
Market Size Available
for
|
2021-2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Power rating, design,
end-user, application, and region
|
Geographies
Covered
|
Asia Pacific, North
America, Europe, Middle East & Africa, and South
America
|
Key Market
Opportunities
|
urbanization and
industrialization.
|
Key Market
Drivers
|
Growing demand for
uninterrupted & reliable power supply
|
The standby power, by application, is expected to grow as the
largest segment during the forecast period.
Based on application, the Diesel Generator Market has been split
into standby power, peak shaving, Prime & continuous power. The
standby power segment in the Diesel Generator Market is anticipated
to be the largest, primarily due to their cost effectiveness.
Standby power Diesel generators are not designed to withstand
overload capabilities and are mostly used in homes and
businesses.
Stationary, by design, is expected to grow as the largest
segment during the forecast period.
Based on design, the Diesel Generator Market has been split into
Stationary and portable. The Stationary segment in the Diesel
Generator Market is anticipated to be the largest because of their
higher power output range from 3 Kw to 700 Kw. Stationary diesel
generators can support high power levels continuously along with
certain features like automatic transfer switches, making them a
preferred choice for long-term and high-power backup solutions.
Up to 50 kW, by Power rating, is expected to grow as the
fastest CAGR during the forecast period.
This report segments the Diesel Generator Market based on
offering into Various power ratings: (Up to 50 kW, 51 – 280 kW, 281
– 500 kW, 501 – 2000 kW, Above 2000 Kw). Up to 50 kW is expected to
be the fastest growing segment during the forecast period due to
their versatility and widespread applications. Generators operate
at a consistent engine speed, making them suitable for residential,
personal, small scale commercial purposes like retail sectors and
telecom.
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North America is expected to
be the fastest region in the Diesel Generator
Industry
North America is expected to be
the fastest region in the Diesel Generator Market during the
forecast period. The region's increasing focus on Diesel generators
is due to the increasing infrastructure activities, Oil and gas
exploration activities and the Industrial sector. Moreover, the
rising demand of reliable power across data centers and other
critical infrastructure needing backup power coupled with a growing
need for convenience in households. The increasing expansion in
manufacturing and construction, particularly in the US, is also
expected to boost the diesel generators market in North America. The affordability of the diesel
generators, since these generators are cost-effective, thus it is
also a preferred choice among the North American customers.
Key Players
Some of the major players in the Diesel Generator
Companies are Caterpillar (USA), Cummins Inc., (USA), Generac power systems, Inc (USA), Rolls-Royce PLC (UK), Mitsubishi Heavy
Industries, ltd (Japan). The major
strategies adopted by these players include sales contracts,
product launches, investments, collaborations, partnerships, and
expansions.
Browse Adjacent Markets: Energy and Power Market
Research Reports & Consulting
Related Reports:
Generator Market by Fuel Type (Diesel, Gas, LPG,
biofuels), Power Rating (Up to 50 kW, 51–280 kW, 281-500 kW,
501-2000 kW, 2001-3500 kW, Above 3500 kW), Application, End-User
Industry, Design, Sales Channel, Region - Global Forecast to
2030
Power Rental Market by Fuel Type (Diesel, Natural Gas),
Equipment (Generators, Transformers, Load Banks), Power rating (Up
to 50 kW, 51- 500 kW, 501-2000 kW, Above 2500 kW), Application, End
User and Region - Global Forecast to 2029
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