Diesel Generator Market Outlook
According to the report by Expert Market Research (EMR), the Global Diesel Generator Market Size is projected to grow at a CAGR of 8.10% between 2023 and 2028. Aided by the growing need for a reliable power supply in various industries and the increasing applications of diesel generators, the market is expected to grow significantly by 2028.
Diesel generators serve as a competent source of emergency backup and standby power, converting the chemical energy stored in diesel fuel into mechanical energy. This mechanical energy then runs an alternator to produce electricity. In addition to being an essential part of power management systems, diesel generators are highly appreciated for their fuel efficiency, durability, and operational stability, making them invaluable in various industrial applications, including construction, telecommunications, and healthcare.
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The increasing need for reliable power sources is driving the global diesel generator market growth. With the expanding industrial sector and the rising demand for energy, there has been a surge in demand for diesel generators as backup power solutions. Moreover, the growing emphasis on business continuity planning and disaster recovery in the face of rising power outages and natural calamities has contributed to the popularity of diesel generators.
The diverse applications of diesel generators in various industries also play a significant role in promoting the diesel generator market development. In the construction industry, diesel generators provide the necessary power for tools and machinery. Meanwhile, the telecommunications sector employs these generators to ensure uninterrupted service during power outages. Additionally, the healthcare industry requires diesel generators for critical operations and medical equipment, further broadening the market scope.
Moreover, the growing focus on hybrid power solutions has led to an increased emphasis on diesel generators as a part of renewable energy systems. With the rise of green energy solutions and the push for energy efficiency, diesel generators have emerged as an integral part of hybrid power systems that combine renewable energy sources and battery storage. This trend further bolsters the global diesel generator market expansion. An increase in the use of diesel generators, particularly in developing countries, is being caused by the widening supply-demand gap in the energy sector, which is supporting the market‘s expansion.
Diesel Generator Market Segmentation
The market can be divided based on power rating, mobility, cooling system, application, end use, and region.
Market Breakup by Power Rating
- Low Power Generator (0-75 kVA)
- Medium Power Generator (75-375 kVA)
- High Power Generator (375 kVA and above)
- Others
Market Breakup by Mobility
- Portable
- Stationary
Market Breakup by Cooling System
- Air Cooled
- Liquid Cooled
Market Breakup by Application
- Standby Backup Power
- Peak Shaving
Market Breakup by End Use
- Industrial
- Commercial
- Residential
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global diesel generator companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Atlas Copoco AB
- Caterpillar Inc.
- Cummins Inc.
- Generac Holdings Inc.
- Aggreko Ltd.
- AKSA Power Generation
- Others
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