Diesel Generator Market to Breach $37.1 Billion by 2027
Global Diesel Generator Market Projected to grow 9.8% CAGR To 2027
WILMINGTON, DE, UNITED STATES, November 7, 2024 /EINPresswire.com/ --
According to a new report published by Allied Market Research, The diesel generator market size was valued at $20.8 billion in 2019, and is projected to reach $37.1 billion by 2027, growing at a CAGR of 9.8% from 2020 to 2027.
A diesel generator is a combination of a diesel engine and an electric generator (often an alternator) that converts diesel fuel into mechanical energy, which is then transformed into electrical energy. Diesel generators are widely used for backup power, primary power generation in remote areas, and in various industrial applications due to their reliability and efficiency.
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Asia-Pacific region is expected to grow at the fastest rate, registering a CAGR of 10.0%, throughout the forecast period.
In 2019, Asia-Pacific dominated the diesel generator market with more than 35.0% of the share, in terms of revenue.
The key players operating and profiled in the report include Caterpillar, Inc., Cummins, Inc., Rolls Royce Plc., Kohler Co., Generac Power Systems, Inc., Southwest Products, Atlas Copco AB, FG Wilson, Denyo Co., Ltd., and Kirloskar Electric Company.
Other players operating in the value chain of the global diesel generator industry are Mitsubishi Heavy Industries, Volvo Penta, Wacker Neusan, Wuxi Kipor Power, Yanmar Co. Ltd., Wartsila Corporation, and APR Energy, LLC.
Industrial is the fastest-growing end user segment in the Asia-Pacific diesel generator market, expected to grow at a CAGR of 10.5% during 2020–2027.
In 2019, large diesel generator segment accounted for majority of the share of the global diesel generator market, and is expected to maintain its lead throughout the forecast period.
In 2019, the stationary diesel generator segment accounted for about 73.8% of the share in the global diesel generator market, and is expected to maintain its dominance till the end of the forecast period.
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In 2019, the air cooled diesel generator segment is accounted for 61.32% market share in the year 2019, and is anticipated to grow at a rate of 9.9% in terms of revenue, increasing global diesel generator market share.
Diesel generator is the equipment used to generate electricity from the mechanical energy, which is obtained from combustion of diesel or biodiesel.
Diesel generator is equipped with an internal combustion engine, electric generator, mechanical coupling, voltage regulator, and speed regulator. This generator finds its application across various end-use industries such as in building & public infrastructure, data centers, transportation & logistic, and commercial infrastructures.
Significant development of the end-use industries such as oil & gas, telecom, mining, and healthcare is fueling the diesel generator market growth.
Increase in demand for diesel generator as a source of backup power from developing economies is driving the growth of the market, globally.
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Implementation of stringent government regulations toward environmental pollution from diesel generators and rapid development of the renewable energy sector are the key factors hampering the growth of the global market in the upcoming years.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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