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Diesel Genset Market is Predicted to Generate a Revenue of $17,821.3 Million During the Forecast Period, 2018-2024 - ResearchAndMarkets.com


The "Diesel Genset Market Research Report: By Power Rating, Application, Regional Insight - Global Industry Analysis and Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global diesel genset market is predicted to attain a size of $17,821.3 million by 2024, advancing at a 5.8% CAGR during the forecast period.
The progress of diesel-fueled gensets is mainly driven by the increasing consumption of standalone and backup power sources in construction sites, residential buildings, office spaces, retail stores, hotels, and hospitals. The production of diesel-fueled gensets is increasing due to the rapid aging of the grid infrastructure in nations such as the U.S., and insufficient grid infrastructure in Nigeria, Ghana, Algeria, and several Latin American and other African countries.

Thus, in order to meet the rising demand for backup and standalone power, various players are investing big amounts for expanding their product lines. For instance, Kirloskar Oil Engines Limited, Kohler Co., and Cummins Inc. are coming into partnerships with other companies to develop, localize production lines and reduce capex, and offer customized solutions. On the basis of power rating, 5-75 kVA, 76-375 kVA, 376-750 kVA, and above 750 kVA are the categories of the diesel genset market.

Out of these, during the historical period, the 5-75 KVA category dominated the market in terms of sales volume. This is attributed to the fact that these diesel gensets have a high demand in low-power applications. In developing countries, the increasing incidence of power outage and lack of proper power infrastructure are fueling the production of 5-7KVA diesel gensets. Further, the diesel genset market is classified into industrial, commercial, and residential, based on application. Out of these, in 2018, the commercial classification held the largest share of more than 50.0% in the market.

This can be attributed to the heavy consumption of high-power gensets in commercial buildings and data centers for both prime and backup power supply. In addition, the rapid urbanization in developing countries, which are introducing smart city projects, and surging data center installation in both developed and developing nations are expected to aid the diesel genset market growth in the commercial sector during the forecast period. In 2018, commercial offices registered more than 25.0% revenue share among all types of commercial spaces.

Among commercial offices, data centers make a significant revenue contribution due to their demand for high-capacity gensets. The emergence of new technologies, such as internet of things, edge computing, cloud computing, and artificial intelligence, is boosting the construction of hyperscale data centers, which are installed with thousands of servers, and thus need uninterrupted electricity supply for efficient operations. This requirement for uninterrupted electricity supply in data centers is therefore predicted to accelerate the diesel genset market progress during the forecast period.

Key Topics Covered:

Chapter 1. Research Background

1.1 Research Objectives

1.2 Market Definition

1.3 Research Scope

1.3.1 Market Segmentation by Power Rating

1.3.2 Market Segmentation by Application

1.3.3 Market Segmentation by Region

1.3.4 Analysis Period

1.3.5 Market Data Reporting Unit

1.3.5.1 Value

1.3.5.2 Volume

1.4 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research

2.2 Primary Research

2.2.1 Breakdown of Primary Research Respondents

2.2.1.1 By region

2.2.1.2 By industry participant

2.2.1.3 By company type

2.3 Market Size Estimation

2.4 Data Triangulation

2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction

4.1 Definition of Market Segments

4.1.1 By Power Rating

4.1.1.1 5 kVA-75 kVA

4.1.1.2 76 kVA-375 kVA

4.1.1.3 376 kVA-750 kVA

4.1.1.4 Above 750 kVA

4.1.2 By Application

4.1.2.1 Commercial

4.1.2.1.1 Retail establishments

4.1.2.1.2 Commercial offices

4.1.2.1.3 Telecom towers

4.1.2.1.4 Hospitals

4.1.2.1.5 Hotels

4.1.2.1.6 Others

4.1.2.2 Industrial

4.1.2.2.1 Manufacturing

4.1.2.2.2 Energy and power

4.1.2.2.3 Others

4.1.2.3 Residential

4.2 Value Chain Analysis

4.3 Market Dynamics

4.3.1 Trends

4.3.1.1 Increasing strategic initiatives by market players

4.3.2 Drivers

4.3.2.1 Growing number of data centers

4.3.2.2 Low power production and grid power uncertainty

4.3.2.3 Impact analysis of drivers on market forecast

4.3.3 Restraints

4.3.3.1 Detrimental environmental impact and carcinogenic nature of diesel engine exhausts

4.3.3.2 Falling cost of energy production through the use of renewable sources and availability of low-cost alternatives

4.3.3.3 Impact analysis of restraints on market forecast

4.3.4 Opportunities

4.3.4.1 Growth in the construction sector

4.4 Regulatory Framework Analysis

4.4.1 U.S.

4.4.3 India

4.4.4 Nigeria

Chapter 5. Global Market Size and Forecast

5.1 By Power Rating

5.2 By Application

5.2.1 Commercial Application, By User

5.2.2 Industrial Application, By User

5.3 By Region

Chapter 6. North America Market Size and Forecast

Chapter 7. Europe Market Size and Forecast

Chapter 8. APAC Market Size and Forecast

Chapter 9. LATAM Market Size and Forecast

Chapter 10. MEA Market Size and Forecast

Chapter 11. Competitive Landscape

11.1 Market Share Analysis of Key Players

11.2 Competitive Benchmarking of Key Players

11.3 Product Mapping in the Global Diesel Genset Market

11.3.1 Product Offerings of Major Market Players

11.3.2 Product Offerings of Other Market Players

11.4 Strategic Developments of Key Players

11.4.1 Mergers and Acquisitions

11.4.2 Product Launches

11.4.3 Partnerships

11.4.4 Facility Expansions

11.4.5 Client Wins

11.4.6 Other Developments

Chapter 12. Company Profiles

12.1 Caterpillar Inc.

12.1.1 Business Overview

12.1.2 Product and Service Offerings

12.1.3 Key Financial Summary

12.2 Cummins Inc.

12.3 Kohler Co.

12.4 AB Volvo

12.5 Denyo Co. Ltd.

12.6 General Electric Company

12.7 Kirloskar Oil Engines Limited

12.8 Escorts Limited

12.9 Generac Holdings Inc.

12.10 Siemens AG

For more information about this report visit https://www.researchandmarkets.com/r/en6bks



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