Global Diesel Generator Market Report 2024 - Standby Power Segment to Dominate Diesel Generator Market in 2029
Dublin, May 06, 2024 (GLOBE NEWSWIRE) -- The "Global Diesel Generator Market by Application (Standby Power, Peak Shaving, Prime & Continuous Power), End-User (Commercial, Industrial, Residential), Design (Stationary, Portable), Power Rating & Region - Forecast to 2029" report has been added to * ResearchAndMarkets.com's* offering.
The diesel generator market is forecast to reach USD 23.4 billion by 2029 from an estimated USD 17.9 billion in 2024, at a CAGR of 5.4% during the forecast period (2024-2029). The rise in the demand for uninterrupted power supply, and the need to provide power during emergencies is driving the market.
*Peak shaving: The second fastest segment of the diesel generators market, by application.*
Based on application, the diesel generators market has been split into three types; standby power, peak shaving, prime & continuous power. Peak shaving is expected to be the second fastest segment in the market. Peak shaving is a practice of levelling out peak electricity use by consumers in industrial and commercial sectors to maintain grid stability and reduce energy costs. peak shaving helps avoid spikes in energy consumption, influencing energy costs, and ensuring a stable energy supply during high demand periods.
*Commercial segment is expected to emerge as the fastest segment by end user.*
Based on end user, the diesel generators market has been segmented into commercial, industrial, and residential. The growth in the commercial sector is driven by the increased demand from Commercial venues such as agriculture, healthcare, data centers, complexes, government centers, malls, theaters, educational institutions, and telecommunications. The diverse power requirement in commercial segment drives the demand for diesel generators, ensuring their constant business neglecting risks.
*Asia Pacific is expected to be the largest region in the diesel generators market.*
Asia Pacific is expected to be the largest region in the diesel generators market between 2024-2029. The market in Asia Pacific comprises China, India, Australia, Japan, South Korea, New Zealand, and Rest of Asia Pacific countries. The growth of the Diesel generators market in the Asia Pacific region is largely supported by factors such as urbanization, rapid industrialization and increasing demand for backup power solutions. The Asia pacific region home to developing economies like India, Japan and China provide better growth in the diesel generators market.
*Research Coverage:*
The report defines, describes, and forecasts the diesel generators market, by power rating, by application, by design, and by end user for various regions. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the diesel generators market.
*Key Benefits of Buying the Report*
· Competitive operating costs, enhancing efficiency, low maintenance costs and the increasing demand for reliable and continuous power supply are some of the factors driving the diesel generators market. Strict emission standards and demand for alternate fuel generators like biofuels and natural gas hinder diesel generators market growth. The industrial sector including construction, mining offer lucrative opportunities in this market. The environmental impact including pollution, costlier maintenance costs, lack of grid infrastructure in remote places are some of the challenges faced in this market.
· Product Development/ Innovation: The trends such as the integration of hybrid power systems is a pivotal trend in diesel generator development. Hybrid systems with diesel generators as a backup component represent a new market segment for generator manufacturers. This offers the potential for market expansion and revenue growth. Manufacturers leverage their existing expertise in diesel generators to develop and integrate them effectively with renewable energy sources and control systems in hybrid solutions. Hybrid systems with a diesel backup component can offer a more attractive value proposition to customers seeking reliable power with a lower environmental impact.
· Market Development: The development of diesel generators is essential in providing an uninterrupted power supply during increasing demand periods. Favorable government policies promoting energy security, increasing investments in various sectors like oil & gas, construction and the need for reliable power sources create diesel generators market growth.
· Market Diversification: Rolls-Royce acquires Kinolt, a Belgian specialist for providing uninterruptible power supply. The acquisition further enhances Rolls-Royce's market position in safety applications and its power supply product offerings.
· Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Caterpillar (USA), Cummins Inc., (USA), Generac power systems, Inc (USA), Rolls-Royce PLC (UK), Mitsubishi Heavy Industries, ltd (Japan). among others in the diesel generators market.
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 301
Forecast Period 2024 - 2029
Estimated Market Value (USD) in 2024 $17.9 Billion
Forecasted Market Value (USD) by 2029 $23.4 Billion
Compound Annual Growth Rate 5.4%*Key Topics Covered:*
*Executive Summary*
· Diesel Generator Market Snapshot
· Asia-Pacific to Dominate Diesel Generator Market in 2024
· Up to 50 kW Segment to Exhibit Highest CAGR in Diesel Generator Market During Forecast Period
· Standby Power Segment to Lead Diesel Generator Market During Forecast Period
· Industrial Segment to Capture Largest Share of Diesel Generator Market in 2029
· Stationary Segment to Hold Larger Market Share in 2024
*Premium Insights*
· Attractive Opportunities for Players in Diesel Generator Market - Growing Need for Uninterrupted and Reliable Power Supply to Fuel Demand
· Diesel Generator Market in Asia-Pacific, by End-user and Country - Industrial Segment and China Held Largest Shares of Diesel Generator Market in Asia-Pacific in 2023
· Diesel Generator Market, by Application - Standby Power Segment to Dominate Diesel Generator Market in 2029
· Diesel Generator Market, by Power Rating - 51-280 kW Segment to Dominate Diesel Generator Market in 2029
· Diesel Generator Market, by Design - Stationary Segment to Lead Diesel Generator Market in 2029
· Diesel Generator Market, by End-user - Industrial Segment to Hold Largest Market Share in 2029
*Key Market Dynamics*
*Drivers*
· Increased Demand for Uninterrupted and Reliable Power Supply
· Rising Power Outages
*Restraints*
· Increased Adoption of Renewable Energy Systems
· High Maintenance and Operating Costs
*Opportunities*
· Rising Urbanization and Industrialization
· Growing Electrification of Rural and Remote Areas in Developing Countries
*Challenges*
· Implementation of Stringent Regulations by Governments to Achieve Net-Zero Emissions
· Rising Investments by Utilities in Transmission and Distribution (T&D) Systems
*Technology Analysis*
· Key Technology
· Common Rail Direct Fuel Injection (CRDI) Technology
· Adjacent Technology
· Hybrid Power System
*Case Study Analysis*
· Vaccine Distribution Center Collaborated with Generac Industrial Power to Address Critical Backup Power Needs
· Vera Cruz City Hospital Collaborated with Integgral Sistemas De Energia to Install Diesel Generators for Backup Power
· Skanska Contacted FG Wilson and Bells Control Equipment Ltd. to Install Three FG Wilson 2,500 KVA Diesel Generator Sets at Heron Tower
*Companies Profiled*
· Caterpillar
· Cummins Inc.
· Generac Power Systems, Inc.
· Rolls-Royce PLC
· Mitsubishi Heavy Industries, Ltd.
· Aggreko
· Kohler Co.
· Wartsila
· Atlas Copco Ab
· Weichai Holding Group Co. Ltd.
· Yamaha Motor Co. Ltd.
· Hyundai Power Products
· Mahindra Powerol
· Anglo Belgian Corporation Nv
· Fg Wilson
· J C Bamford Excavators Ltd.
· Doosan Corporation
· Ashok Leyland
· Kubota Corporation
· Kirloskar
· Aksa Power Generation
· Yanmar Holdings Co. Ltd.
· Man Energy Solutions
· Denyo Co. Ltd.
· Pronk Machinery B.V.
For more information about this report visit https://www.researchandmarkets.com/r/4nfv3l
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*Attachment*
· Global Diesel Generator Market
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