Diesel Generator Market is Envisioned to Surpass $37.1 Billion by 2027

Increase in need for continuous & stable power supply and rapid industrialization & urbanization drive the growth of the global diesel generator market.

Global diesel generator market is projected to reach $37.1 billion by 2027, growing at a CAGR of 9.8% from 2020 to 2027. 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 growth of the diesel generator market. In addition, increase in demand for diesel generator as a source of backup power from developing economies is driving the growth of the market, globally. However, 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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Depending on the type, large diesel generator segment held the highest market share of about 57.05% in 2019, and is expected to maintain its dominance during the forecast period. This is owing to increase in demand from large-scale industries such as mining, healthcare, commercial, manufacturing, and data centers.

On the basis of cooling system, air cooled diesel generator segment holds the largest share, in terms of revenue, and is expected to maintain its dominance during the forecast period. This growth is attributed to the increase in demand from residential and commercial consumers such as apartments, complexes, malls, and others.

Based on application, the peak shaving segment contributed to the highest market share with more than four-fifth of the global diesel generator market in 2019, and is estimated to maintain its leadership position during the forecast period. This is attributed to the rise in power demand from highly dense populated area and from manufacturing sites. However, the standby backup power segment is estimated to generate the fastest CAGR of 10.0% from 2020 to 2027. This is attributed to the increase in demand for uninterruptible power supply and rise in growth of the construction & building sector.

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On the basis of end use industry, commercial segment holds the largest share, in terms of revenue, and is expected to grow at a CAGR of 9.9%. This is attributed to the increase in demand from the commercial sites such as shops, complexes, malls, theatres, and other applications.

On the basis of the region, the market is analyzed across four major regions such as North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered the dominant share in 2019, and anticipated to maintain this trend during the forecast period. This is attributed to numerous factors such as presence of huge consumer base and the existence of key players in the region. Moreover, presence of the developing countries such as China, Japan, Australia, and India is anticipated to contribute toward the growth of the diesel generator market in Asia-Pacific.

The global diesel generator market analysis covers in-depth information of the major industry participants. 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.

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Covid-19 scenario:

  • Several major market players have halted the production of diesel generator amid lockdown due to supply shortage of components required for manufacturing .
  • The demand for diesel generator is likely to decrease during the Covid-19 pandemic. Various end-users of diesel generator such as industrial manufacturing units and building & construction industry across the globe have halted their operations amid lockdown.
  • The  demand for diesel generators from the healthcare sector is likely to surge to gain uninterrupted power supply to run ventilators, MRI, CT scan machines, and other electrically operated machines required for treatments of patients.

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