Diesel Genset Market Share Analysis | Growth Outlook and Demand Forecast By 2030

 

Diesel Genset Market Overview:

Diesel Genset Market is projected to be worth USD 30.81 billion, registering a CAGR of 8.70% during the forecast period (2022 - 2030). The market was valued at USD 17.23 billion in 2021.

Our Market Overview and Regional Analysis provide an understanding of the industries, companies and products within the market. Our Trends section provides an analysis of how the market is currently performing and looks set to perform in the future. Our Growth Forecast section gives you an idea about how our Market Analysis works, by giving us further details on how we can build our Market Forecast model for a particular domain within this report. Lastly, in our Metrics section we outline important data points relating to each of these sections as well as our current forecasted price range.

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Industrial Diesel Generator have applications across many sectors with shared purposes, such as data centers, healthcare facilities, emergency power operations, power in remote locations, and power for cooling or heating units on reefer containers. Diesel generators offer significant advantages, such as substantial money savings, low-maintenance costs, longer runtime, safer operations, and efficiency. 

Industry Trends

The growing use of diesel generators across industrial, commercial, agriculture, and other purposes is a key driving force. Moreover, product standardization, enhanced research & innovation, and increased lab & field tests are significant market trends. Frequent power outages caused by natural calamities that can interrupt operations in industries, emergency services, homes, and commercial establishments, further escalate market growth.

On the other hand, strict government amends and restrictions imposed on power distribution companies mandating electricity supply 24x7 in metros and large cities to dissuade diesel genset use hamper the market growth. Nevertheless, huge R&D investments by industry players in developing efficient engines that can reduce harmful gases emitted from diesel generators would support the market growth in the coming years. 

Segments

The diesel generator market analysis is segmented into power rating, portability, end-use, and regions. The power rating segment is sub-segmented into 375KVA-1000KVA and above 1000 KVA. The portability segment is sub-segmented into portable and stationary. The end-user segment is sub-segmented into agriculture, commercial, and industrial. 

Regional Analysis

The Asia Pacific region dominates the global diesel generator market. The growing demand for a steady & reliable power supply from the growing number of data centers in the region fosters market sales. Moreover, the massive availability of diesel due to the rising oil & gas activities increases the region's diesel generator market share. Furthermore, a relaxed approach and lenient government regulations against gas emissions from diesel gensets positively impact the regional market's growth. 

On the other hand, diesel generator markets in North America and Europe demonstrate sluggish growth, mainly due to stringent fuel mapping regulations. However, optimized emissions in non-emissions regulated regions, including the USA, Canada, Europe, etc., support the market growth. Additionally, low-NOx optimized use in mission-critical segments like data centers and cost-efficiencies boosts the market value, enabling hassle-free deployment and delivering top-of-the-line fuel consumption regardless of the calibration. 

Competitive Analysis

The highly competitive diesel genset market appears to be highly completive due to several notable players. Players incorporate strategic initiatives such as acquisition, partnership, product launch, and expansion to gain a competitive advantage in this market. Key players focus on product innovation and new manufacturing processes.

They focus on developing a new range of value-engineered standby power solutions specifically designed to target the global electrical contractor market. These generators are developed to simplify the specification process and substantially reduce quotation and delivery times while helping meet the tight budget requirements of the vast majority of stationary standby power applications.

For instance, on Sep.05, 2022, Rolls-Royce Power Systems (Germany), a business unit of UK-based propulsion & power systems group Rolls-Royce, announced winning a major genset contract for new German warships. 

The contract by Damen Naval, the Netherlands-based shipbuilding group, comprises the supply of variable speed MTU naval diesel gensets. The 16 MTU Series 4000 diesel gensets will provide the new warships with their onboard power, and each of the four planned for the German Navy's F126 frigates will have four such gensets.

Key Players:

Key players involved in the market are Cummins Inc. (US), Caterpillar (US), Mitsubishi Heavy Industries, Ltd (Japan), Wärtsilä (Finland), Kohler Co. (US), Atlas Copco AB (Sweden), Rolls-Royce plc (UK), Yanmar Co. Ltd. (Japan), Kirloskar Electric Company (India), JS Power (UK), Generac Power Systems, Inc. (the US), General Electric (US), Ashok Leyland (India), Sutton Power Engineering (UK), and Denyo Co., Ltd (Japan), among others.