The global diesel generator industry size is projected to grow significantly, reaching an estimated USD 37.03 billion by 2032, driven by the increasing frequency of power outages, natural disasters, grid reliability issues, and the expansion of the oil & gas sector, with a CAGR of 7.45%.
Key Trends and Drivers:
Increasing Efforts to Combat Problems Caused by Power Outages: Public and private entities are increasingly adopting standby power sources due to failures in power transmission and distribution networks.
Significant Expansion of Oil & Gas Sector: Growing oil and gas consumption and the exploitation of new hydrocarbon reserves are propelling the demand for diesel gensets.
Rapidly Developing Industrial Infrastructure and Increasing Energy Demand: The increasing need to address rising production activities and deliver efficient energy management across different sectors is boosting demand.
Regional Growth: Asia Pacific held the largest market share in 2023 and is expected to continue its significant growth due to large-scale urbanization and industrialization. The U.S. market is also projected for significant growth due to power reliability issues.
Market Size and Forecasts:
- 2023: The global diesel generator market was valued at USD 19.46 billion.
- 2024: The global diesel generator market is projected to be USD 20.84 billion.
- 2032: The global diesel generator market is anticipated to reach USD 37.03 billion.
- CAGR (2024-2032): 7.45%.
- Asia Pacific Market Share (2023): 33.24%.
- U.S. Market (2032): USD 6.10 billion.
Applications of Diesel Generators:
- Continuous Load:Used in remote electrification setups and digital-based industries requiring continuous power.
- Peak Load:Used to supplement the main power supply during periods of high demand.
- Standby Load:Used as a reliable backup power source during power outages in residential, commercial, and industrial settings.
Key Players
- Caterpillar Inc. (U.S.)
- Aggreko (U.K.)
- Cummins Inc. (U.S.)
- Himoinsa (Spain)
- John Deere (U.S.)
- Kohler SDMO (France)
- PRAMAC (Italy)
- Kirloskar Electric Co. Ltd. (India)
- Generac Power Systems (U.S.)
- FG Wilson (U.K.)
- Atlas Copco (Sweden)
- American Honda Motor Company Inc. (U.S.)
- Briggs & Stratton (U.S.)
- Ingersoll Rand (U.S.)
- Yamaha Motor Co. Ltd. (Japan)
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