Industry Background:
The global Diesel Gensets market is expected to witness high demand in the forecasted period due to the growing demand for uninterrupted power supply. A diesel generator is a combination of a diesel engine along with an electric generator thus forming a distributed generation unit. The basic function is power generation via an internal combustion engine to produce energy from gaseous fuels. The rising demand for uninterrupted and reliable power supply from the end-use segments, such as manufacturing and construction, power generation, marine, residential, telecom, oil and gas, chemical, and healthcare, is projected to boost the market growth over the forecast period.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Cummins Inc. (United States), Caterpillar Inc. (United States), Generac Holdings Inc. (United States), Aggreko PLC (United Kingdom), Atlas Copco AB (Sweden), Wartsila Corporation (Finland), Wacker Neuson SE (Germany), Mitsubishi Heavy Industries, Ltd. (Japan), Briggs & Stratton (United States), APR Energy Plc (United States) and Kirloskar Oil Engines Ltd. (India) |
According to AMA, the market for Diesel Gensets is expected to register a CAGR of 8.2% during the forecast period to 2028. This growth is primarily driven by Growing demand for uninterrupted power supply and Emerging trends in real estate.
Globally, a noticeable market trend is evident Favorable regulatory policies to boost investment
The Industrial Machinery sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Cummins Inc. (United States), Caterpillar Inc. (United States), Generac Holdings Inc. (United States), Aggreko PLC (United Kingdom), Atlas Copco AB (Sweden), Wartsila Corporation (Finland), Wacker Neuson SE (Germany), Mitsubishi Heavy Industries, Ltd. (Japan), Briggs & Stratton (United States), APR Energy Plc (United States) and Kirloskar Oil Engines Ltd. (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The global diesel generator market is expected to grow .
Key Developments in the Market:
In May 2020, Caterpillar Inc., one of the leading players in the generator sets market, has announced the introduction of Cat GC diesel generator sets in its wide product portfolio of diesel generators. Cat GC diesel generator sets are a stand-by generator set, which includes eight new models with standby power ratings from 250 kW to 600 kW.
In may 2023 Global power technology leader Cummins Inc. (NYSE: CMI) is excited to announce the launch of the Marine Diesel Cummins Turbo (MDCT) genset. This robust genset can be fitted with either the low or high kW Cummins B4.5 auxiliary engine, giving genset ratings of 40 kWe – 80 kWe and 80 kWe – 110 kWe respectively
Influencing Trend:
Favorable regulatory policies to boost investment and Rapid industrialization & infrastructure development
Market Growth Drivers:
Growing demand for uninterrupted power supply and Emerging trends in real estate
Challenges:
Shifting trends toward renewable power generation
Restraints:
High capital, installation & maintenance costs
Opportunities:
Unreliable grid infrastructure coupled with rapid population growth and Burgeoning expansion in the telecom sector
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Diesel Gensets Market
- Analysis about New Entrants in Diesel Gensets Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Diesel Gensets Study Sheds Light on
The Diesel Gensets Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Diesel Gensets industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Diesel Gensets industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.