Ocean View, DE -- (SBWIRE) -- 04/17/2020 -- Global diesel gensets market growth stems from rise in demand for uninterrupted power supply across multiple end use cases. Weather-related disasters have become severe and frequent in recent years, pursuant to which, the adoption of diesel gensets has increased considerably across residential, industrial, and commercial sectors. Electricity outages have become commonplace, which, coupled with increasing focus on emergency preparation is anticipated to fuel diesel gensets market demand.

Diesel gensets are widely used in the fields of agriculture, healthcare, and data centers as an energy source for emergency purposes. Advantages aligned with diesel gensets, which include low up-front cost, easy installation, and minimal maintenance are likely to augur the growth of the market through 2026.

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Diesel gensets find major applications across mining, logistics, and O&G industries. Exponential growth of the aforementioned industries is likely to reflect favorably on diesel gensets market growth.

Accelerating digitalization across various industry verticals is likely to support industry expansion in the coming years. Given the escalating dependency of various businesses on IT, continuous power supply has become an absolute necessity. Besides, growing rate of natural catastrophes, such as hurricanes, tsunamis, earthquakes, windstorms, and floods, which cause significant damage to electricity infrastructure, has also induced substantial diesel gensets industry demand. As per estimates, diesel gensets of power rating <75 kVA are expected to witness remarkable adoption.

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Speaking about the regional landscape, Asia Pacific is likely to emerge as a key revenue pocket for diesel gensets industry. Rising consumer awareness regarding sustainability coupled with impressive development of data centers is likely to favor industry expansion. Diesel gensets have been experiencing heavy demand from data centers, where uninterrupted power is of utmost importance to avoid downtimes. Escalating data center downtime costs is a chief factor propelling market growth. Other factors driving market growth include rising infrastructure investments and low diesel prices owing to declining oil prices. As per estimates, Asia Pacific diesel gensets market is expected to register a CAGR of above 6% over 2020-2026.

Ratification of stringent norms and directives aimed at curbing GHG pollution is also set to drive diesel gensets industry landscape. For instance, the proposed initiation of the EU (Stage V) parameters is expected to fuel the adoption of diesel gensets in Europe.

Diesel gensets industry is characterized by various strategies undertaken by industry players to fulfill the escalating demand generated by various end users. Cost competitiveness, technological innovations, and product differentiation are among the chief measures adopted by market participants to gain an edge over competitors. Alongside, diesel gensets manufacturers are focusing on strengthening their distribution networks to sustain in the stiff competitive environment. Moreover, against the backdrop of intensifying environmental concerns, manufacturers are striving to reduce the environmental effects of these systems, which will further accelerate product adoption. To this end, they are outlaying massive amounts on R&D activities. The notable players operating within global diesel gensets market include Caterpillar, Yamaha, Kirloskar, and Cummins.

A research report published by Global Market Insights, Inc., projects that worldwide diesel gensets market is poised to record an annual adoption of more than 2 million units by 2026.