Diesel Generators Market Growth, Industry Outlook and Opportunities 2022-2029 | DataM Intelligence

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The global diesel generator market is estimated to reach a high CAGR of 6.50% during the forecast period (2022-2029).

Market overview

A diesel generator is a combination of a diesel engine with an electrical generator (often an alternator) to provide electrical power. A compression ignition diesel engine is generally designed to run on diesel fuel, however, a few types are suitable for different liquid fuels or plant-based gases. It is used to generate power to provide persistent power supply during power interruptions. It is normally used as a standby machine during power outages or on site and does not use a connection to an electricity community. The increasing use of diesel generators which can offer additional home packages where they will provide power for sump pumps, lighting, special required applications such as weather control systems (ACS), refrigerators and the clinical system are expected to open many doors in the not so distant future.

The upward surge in demand for diesel generators in interrupted use sectors and occurrences of power grid failure and lack of strength are major drivers for the increase in the market globally. The demand for electricity has increased exponentially, due to rapid industrialization and the growing consumption of electric energy per capita.

The threat of substitution of battery garage systems is the most significant constraint hampering the boom of the market.

The Residential Diesel Generator Market is worth US$ YY Billion in 2018 and is projected to grow at a CAGR of XX% over the forecast duration to reach US$ XX Billion by using 2026

The Standby Diesel Generators Market held 66.17% of the global diesel generators market in 2018 and is expected to grow by utilizing XX% by 2026.

Europe, especially Western Europe, is a mature market for stationary diesel turbines. China held 56.83% of Asia-Pacific diesel generator market in 2018 and is expected to explode XX% by 2026, followed by India at 14.53%.

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Market dynamics

The upward surge in demand for diesel turbines in end-use sectors and power grid failures and lack of power are major drivers for the boom in the global market. The growth potentials of the diesel generator market are for this reason particularly encouraged by the rise in the demand product in the related sectors, securing new opportunities for business enterprise expansion and market augmentation for the prevalent market players. For example, an information center, which is part of the telecommunications company, requires energy to run IT infrastructure gadgets, including network and communication equipment, computers, servers, EAPBX, lighting, air conditioners, security systems, video surveillance, fireplace alarms, inverters, and various vital devices. The energy supply is an essential requirement of the houses of the archive centers. So, in the event of a power outage, standby diesel crushers provide an affordable and viable uninterrupted backup alternative for keeping systems running clean.

The developing rate of urbanization and changing spending styles of buyers closer to the electronic goods of incorporated customers have resulted in frequent power grid outages and lack of power supply for large and emergency parcels in the hospitals, communication services and emergency call centres. As such, it is essential to provide energy backup and uninterrupted supply options so that number one operations are no longer faced with demanding situations. Diesel turbines are therefore being adopted on an intensive scale, thanks to the long lifetimes of the mills compared to other options and the occasional operating noise.

The risk of substitution of battery garage structures is the predominant brake holding back the boom of the market. The large-scale adoption of battery garage structures, especially in remote areas that no longer have to obtain the right of access to electricity networks, is a brake on the installation of diesel engines. The operation of diesel mills at low load and split potential causes giant damage to the device, shortening the intervals between renovations and increasing costs accordingly. Thus, the arrival of low-cost alternatives and the slow upgrading of substitutes severely hamper the opportunities for market growth. Battery systems, combined with solar or wind power, provide independence from rising diesel costs, support calls for all hours without diesel fuel consumption, reduce waste of energy through overall performance optimization, while storing additional energy for later use.

Market segmentation

By portability

Portable

l Stationary

Per end user

l Residential

l Commercial

l Industrial

By rated power

l 0-100 kVA

l 101-350 kVA

l 350-1000 kVA

l Above 1000 kVA

By operations

l Standby power

l Maximum savings

l Continuous power

By region

North America

South America

Europe

Asia-Pacific

the Middle East and Africa

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Competitive landscape

Some of the major players are Caterpillar Inc, Cummins Inc, Kohler Co, Mitsubishi Heavy Industries, Ltd, Kirloskar Oil Engines Limited (KOEL) (Kirloskar Group), Wärtsilä Finland Oy, AKSA Power Generation, Yanmar Co., Ltd, Generac Holdings Inc. ., Mahindra Powerol Ltd.

The global diesel generator market is highly competitive, with the presence of key market players enjoying an extensive global distribution network at scale. As such, companies need to launch new products in an attempt to capture a substantial market share, thereby strengthening global market position.

On 08 February 2019, Kirloskar Oil Engine Ltd showcased its latest range of technologically advanced smart DGs (Diesel Generators) in Delhi. The range is called the i-Green series.

In November 2018, Cummins Inc. introduced the new QSG12 50Hz diesel generator series which offers optimum performance, reliability and versatility for stationary standby and prime power applications.

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