Diesel Generator Market Boosting the Growth Worldwide: Market Dynamics and Trends, Efficiencies Forecast 2024

Sarasota, FL -- (SBWire) -- 12/26/2018 --Diesel Generator Market: Overview

Growing requirements for continuous power supply and increasing power outages are driving the diesel generator market to grow worldwide. Owing to benefits like supreme reliability, low use of fuel and safe to operate than gasoline-powered generators because diesel fuel is less flammable they are widely used in industrial applications. Diesel generators are the most preferred and used power backup solution and accounted for more than 80% of the global generators market in 2017. Energy demand in developing countries is growing in line with their infrastructural growth and economic development, whereas in developed countries, it is increasing with a slower rate, the further improvement in people's lifestyle will increase the demand for the electricity utilities are not always in a place to fulfill this increasing power demand. To fulfill this large demand for electricity by investing in large power projects is not feasible for the government as well as to the end users as these projects require long construction times and huge capital investment. Hence the market for diesel generators is going to increase.

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Diesel Generator Market: Growth Factor

The global diesel generator market is projected to grow at a moderate growth rate along with the growing commercial and residential activities. Power shortfall, unstable and uneconomical power supplies from the power station, low capital cost of a diesel generator, mature technology, and ready fuel availability are the key factors driving the growth of the diesel generators market. On the other hand, diesel generators support the manufacturing industry, hotel industry, hospitals and other industries keep running during the power cut or tougher natural calamity challenges. Frequent power cut occurred due to various natural calamities such as severe weather events can cause trouble to the operations of emergency services, industrial operations, residential homes and commercial establishments. Diesel generators act as a backup system for fulfilling their need for reliable power in such scenarios. Due to which giesel generators are gaining a lot of traction. Diesel generators are fuel efficient and known for customized applications related to industrial power and electrical control equipment for the operation of industrial machinery, power generation, and control equipment for the T&D industry. Hence, they find a vast area of application and the market of diesel generators is ever increasing.

Diesel Generator Market: Segmentation

The global diesel generator is segmented or categorized by portability types like stationary diesel generators and portable diesel generators. Based on end-user, the market consists of three segments namely residential, commercial (IT & telecom, healthcare, and others), and industrial (power generation/utilities, oil & gas, and others). By power rating, the market is segmented into 0-100 kVA, 350 kVA, 350-1000 kVA, and the last one are above 1000 kVA. Further, the market comprises three segments on the basis of operations, namely standby, peak and continuous power.

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Diesel Generator Market: Regional Analysis

Geographically, the market for diesel generators is segmented into North America, Europe, Asia Pacific and the Middle East. Asia-Pacific (APAC) is the leading market for diesel generators According to the report, Asia region is forecast to have the highest growth in the next few years due to rising acceptance of diesel generator in industrial and commercial applications. North-America is the second highest diesel generator market of the global market for a diesel generator and is growing market followed by Europe, North America, and APAC. In the Asia Pacific, China was identified as the top country in the diesel generator market in terms of market volume, followed by India. China still lacks an extensive national grid and the rural areas are yet not adequately connected to the power supply. To support economic growth in these areas, the government is promoting distributed generation, which is expected to benefit the generator market.

Diesel Generator Market: Competitive Players

Some of the prominent players in the field of manufacturing, are Caterpillar (U.S.), Cummins (U.S.), Kohler Co (U.S.), and Generac Holding (U.S.) ,Rolls-Royce Power Systems, SDMO, Generac and Briggs & Stratton, Deutz, Honda, Mitsubishi, MAN, Scania, Volvo Penta, and Wacker Neuson. Dominant players are trying to penetrate the developing countries market and trying to adopt various methods to grab the market share.

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