Diesel Generator Market size is expected to reach USD 38.53 billion by 2030

 Diesel Generator Industry Overview

The global diesel generator market size was valued at USD 18.74 billion in 2021 and is projected to progress at a compound annual growth rate (CAGR) of 8.5% during the forecast period.

The increasing demand for energy across the globe outstrips the supply. Factors such as continuous population growth, infrastructure development, and rapid industrialization in emerging economies are pacing the demand for power. Diesel generators have numerous advantages such as low operating costs and better fuel efficiency. Thus, they are much popular in developing regions, especially in the Asia Pacific region. Along with its advantages, it had many other drawbacks which include noise pollution and the emission of hazardous gases. The World Nuclear Association has projected that the electricity requirement is expected to double the current consumption. According to the U.S. Department of Energy, solar energy will be the most abundant energy source available.

Gather more insights about the market drivers, restrains and growth of the Global Diesel Generator Market


Significant growth in the economies of the major developing nations such as India, Brazil, and others is expected by 2050. India is expected to grow from being the third-largest to the second-largest economy in the world, only after China in terms of GDP (gross domestic product) at PPP (purchase power parity). Countries such as Brazil, India, and South Africa are already suffering due to low power supply. Emerging economies are expected to account for 65% of the global economy.

The market in the U.S. is anticipated to witness substantial growth owing to rising costs of power outages across several IT-enabled service firms and data centers along with growing consumer awareness of the requirement for reliable emergency power supply. In addition, the market is also driven by the rising vulnerability of grid power stations to disasters caused by changing weather conditions across the region.

Solution providers across the diesel generator market are primarily responsible for generator system manufacturing, installation, maintenance, and repair. Generator dealers or electrical contractors establish product supply and maintenance contracts with end-market consumers present across commercial places, residential places, and small-size companies using generators as emergency power backup systems. Moreover, companies also assign an in-house monitoring engineer to supervise a large number of generators in industrial-scale operations.

Stringent government regulations regarding the reduction of harmful carbon emissions are expected to boost the penetration of gas-based generators over diesel generators. This trend is anticipated to restrict the market demand for diesel generators across all the end-use sectors. However, low operating costs and low initial investment are among the key factors sustaining the current requirement for diesel generator sets.

Browse through Grand View Research's Power Generation & Storage Industry Research Reports

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Key Companies Profile

Some of the prominent market players in the global diesel generator market include:

  • AKSA power generation company
  • Atlas Copco AB
  • Caterpillar
  • Cummins Inc.
  • Doosan Portable Power
  • Generac Power System Inc.
  • Honda India Power Products Ltd.
  • Kohler Co.
  • Rolls-Royce plc
  • Wartsila Corporation

 

Order a free sample PDF of Diesel Generator Market Intelligence Study, published by Grand View Research.

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