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. ...